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Today 11:03 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Same poster. I know, but even then having a mil in assets is nothing these days. If I added mine up I clear 2m and I'm early 40s. I don't consider myself successful.
Definitely. 1 or 2 million is not difficult to attain if you progress towards 40s or 50s. The main challenge is to scale it above 10 million.
Today 10:57 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Same poster. I know, but even then having a mil in assets is nothing these days. If I added mine up I clear 2m and I'm early 40s. I don't consider myself successful.
Everyone has a different yardstick.

If you think accumulation is tough, let me tell you decumulating is tougher
Today 10:45 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Because they own assets that are worth at least a million SGD and regardless, they are attributing their success based on assets they own, not based on "having a few hundred K" like the weird assumption you just made here.
Same poster. I know, but even then having a mil in assets is nothing these days. If I added mine up I clear 2m and I'm early 40s. I don't consider myself successful.
Today 10:38 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Planning to retire when we collect our CPF soon. Our home is fully paid up. We should be able to collect $400k in total from our CPF OA combined at age 55. This is enough for us both as we are live a simple life. We need $360k ($36k pa) from 55 to 65. We will get $54k pa from our CPF Life combined from age 65 onwards.
finally a real singaporeans POV
Today 09:35 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Just wondering, how is having a few hundred thousands to spend until CPF life considered successful?
Unless you mean a few hundred K per year from passive income.
Because they own assets that are worth at least a million SGD and regardless, they are attributing their success based on assets they own, not based on "having a few hundred K" like the weird assumption you just made here.
Yesterday 11:04 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Just wondering, how is having a few hundred thousands to spend until CPF life considered successful?
Unless you mean a few hundred K per year from passive income.
Fully agree with this
Yesterday 09:20 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
My spouse and I are in our early fifties and have worked long hours all our lives. We are very successful as we own a luxury condominium unit and a European luxury car which are both fully paid up. We have zero debt.

However with all this success we are wondering why we are working so hard. So we will retire in a few years time after collecting our CPF. We also plan to monetise our property by selling it away and keeping cash in our bank accounts. We will have a few hundred thousands to spend in our retirement until the time we get our CPF Life.

Life is short. Itís time to retire. I suppose retiring at 55 or 56 years old is not a big deal at all in Singapore as there are corporate high flyers in this group who retired in their forties.
Just wondering, how is having a few hundred thousands to spend until CPF life considered successful?
Unless you mean a few hundred K per year from passive income.
Yesterday 12:46 PM
Unregistered Hi,

I am curious in terms of the net worth amount when you claimed to be "very successful"?

I don't own a European car and stayed in HDB. We are in our early 50's have a net worth of $3.8M.

Am thinking to retire when hit $6M networth of including a $600K HDB flat target by 54yrs. Current debt is only the HDB loan $27K. What sustain the passive income would be from the CPF,investment and private annuity aiming to be at least $100K/yr



Quote:
Originally Posted by Unregistered View Post
My spouse and I are in our early fifties and have worked long hours all our lives. We are very successful as we own a luxury condominium unit and a European luxury car which are both fully paid up. We have zero debt.

However with all this success we are wondering why we are working so hard. So we will retire in a few years time after collecting our CPF. We also plan to monetise our property by selling it away and keeping cash in our bank accounts. We will have a few hundred thousands to spend in our retirement until the time we get our CPF Life.

Life is short. Itís time to retire. I suppose retiring at 55 or 56 years old is not a big deal at all in Singapore as there are corporate high flyers in this group who retired in their forties.
Yesterday 12:12 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
My spouse and I are in our early fifties and have worked long hours all our lives. We are very successful as we own a luxury condominium unit and a European luxury car which are both fully paid up. We have zero debt.

However with all this success we are wondering why we are working so hard. So we will retire in a few years time after collecting our CPF. We also plan to monetise our property by selling it away and keeping cash in our bank accounts. We will have a few hundred thousands to spend in our retirement until the time we get our CPF Life.

Life is short. Itís time to retire. I suppose retiring at 55 or 56 years old is not a big deal at all in Singapore as there are corporate high flyers in this group who retired in their forties.

Yes you will wonder why you are still working so hard. As you retire, don't stop learning and doing things you like. Health and spending quality time should be your priority now.
Yesterday 10:49 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
My spouse and I are in our early fifties and have worked long hours all our lives. We are very successful as we own a luxury condominium unit and a European luxury car which are both fully paid up. We have zero debt.

However with all this success we are wondering why we are working so hard. So we will retire in a few years time after collecting our CPF. We also plan to monetise our property by selling it away and keeping cash in our bank accounts. We will have a few hundred thousands to spend in our retirement until the time we get our CPF Life.

Life is short. Itís time to retire. I suppose retiring at 55 or 56 years old is not a big deal at all in Singapore as there are corporate high flyers in this group who retired in their forties.


Retiring can also mean doing something you and your wife always want to do without the consideration of double earned income. Go and learn to invest a fraction of your property proceed to earn some passive income. I would say there are many other meaningful things both of you can do during retirement than continue to slog in the present careers. When you look back you will discover that it is all well worth it!
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