03-01-2024 10:44 AM |
Unregistered |
Quote:
Originally Posted by Unregistered
I am planning to retire soon at 48 years old by renting out my Sg condo for S$5k or more and retiring in my JB semi d. Both properties are paid up. Will apply for MM2H silver scheme by putting in rm500k as FD. Hopefully my medical can pass. My older boy will need to come back for his poly studies tho. Will drive him to station and hopefully can get Tebrau shuttle tickets for him to cross causeway in 5 min. Then he can take mrt to his poly 6 stops away only.Younger son is homeschooling so just needs his computer. NS may be a problem though, have to write in for permisssion for them to return to JB on bookout dates.
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Cannot return to JB for book out la. Unit can and will recall you at anytime during active days de. Rent them a unit in SG for the two years ba.
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31-12-2023 11:50 PM |
Unregistered |
Quote:
Originally Posted by Unregistered
I’m 54, retired early to opt for a simple life.
Home is paid up. Passive income $30k pa.
Sufficient to live simply. No debt, sold away my car.
Just need money for groceries, utilities, health care.
At 55, will be able to collect CPF money.
At 65, will get $2500 pm in CPF Life.
I don’t need millions to retire.
Many people are addicted to to high life and can’t leave their jobs.
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I am planning to retire soon at 48 years old by renting out my Sg condo for S$5k or more and retiring in my JB semi d. Both properties are paid up. Will apply for MM2H silver scheme by putting in rm500k as FD. Hopefully my medical can pass. My older boy will need to come back for his poly studies tho. Will drive him to station and hopefully can get Tebrau shuttle tickets for him to cross causeway in 5 min. Then he can take mrt to his poly 6 stops away only.Younger son is homeschooling so just needs his computer. NS may be a problem though, have to write in for permisssion for them to return to JB on bookout dates.
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14-09-2023 11:39 AM |
Unregistered |
It's been a year since I last posted. This is my current situation:
salary $26k
rental 1 $4k
rental 2 $4.5k
side hustles $10.5k
dividends $2k
Total: $47k
(Wife makes $25k, not included in above)
parents 4.5k
helper 0.7k
ppty tax 0.4k
credit cards 5k
bills 0.5k
loan 1 7.5k
loan 2 4.5k
income tax 5k
Total: $28k
Combined net worth: 6.5M
Though it looks good to many people, I worry all the time...
Quote:
Originally Posted by Unregistered
My current income streams:
salary $23k
rental 1 $2.5k
rental 2 $2.2k
side hustle 1 $6k
side hustle 2 $1k
dividends $1.3k
Total: $36k
If I retire I will lose my salary of $23k, leaving $13k.
However, these are my expenses:
parents 4.5k
helper 0.7k
ppty tax 0.4k
credit cards 6k
bills 0.5k
loan 1 6k
loan 2 3k
income tax 3k
Total: $24k
If I exclude income tax, it is still $21k. Granted that both loans are technically paying off properties which are assets, they are still depleting my cash.
Am I able to retire?
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27-11-2022 11:30 PM |
Unregistered |
I’m 54, retired early to opt for a simple life.
Home is paid up. Passive income $30k pa.
Sufficient to live simply. No debt, sold away my car.
Just need money for groceries, utilities, health care.
At 55, will be able to collect CPF money.
At 65, will get $2500 pm in CPF Life.
I don’t need millions to retire.
Many people are addicted to to high life and can’t leave their jobs.
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11-10-2022 04:33 PM |
Unregistered |
The amount required to retire is relative to one's expectation. An above average performing grad should be able to retire at 55 and a high achiever can expect to retire at 40-45.
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11-10-2022 04:22 PM |
Unregistered |
Quote:
Originally Posted by Unregistered
Another humble bragging.
Easy. Just sell your second property. Apparently the rental yield is much lower than the repayment. You've now got cash to invest in stocks and stuff. And what the hell are you buying to have credit bill of 6k a month. That needs to be looked at. Obviously you can't be eating wagyu everyday if you genuinely want to retire comfortably. And why do your parents need 4.5k when you retire? Don't they have their own savings and retirement plan?
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Not every old parent has retirement savings. I believe a significant number of people in 40-60 age group need to support their own old parents. They are the sandwich generation.
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29-09-2022 05:20 PM |
Unregistered |
Another humble bragging.
Easy. Just sell your second property. Apparently the rental yield is much lower than the repayment. You've now got cash to invest in stocks and stuff. And what the hell are you buying to have credit bill of 6k a month. That needs to be looked at. Obviously you can't be eating wagyu everyday if you genuinely want to retire comfortably. And why do your parents need 4.5k when you retire? Don't they have their own savings and retirement plan?
Quote:
Originally Posted by Unregistered
My current income streams:
salary $23k
rental 1 $2.5k
rental 2 $2.2k
side hustle 1 $6k
side hustle 2 $1k
dividends $1.3k
Total: $36k
If I retire I will lose my salary of $23k, leaving $13k.
However, these are my expenses:
parents 4.5k
helper 0.7k
ppty tax 0.4k
credit cards 6k
bills 0.5k
loan 1 6k
loan 2 3k
income tax 3k
Total: $24k
If I exclude income tax, it is still $21k. Granted that both loans are technically paying off properties which are assets, they are still depleting my cash.
Am I able to retire?
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09-06-2022 11:55 AM |
Unregistered |
Quote:
Originally Posted by Unregistered
my household income (both age 50)
salary $40k
rental $4k
dividend $5k (annualized into monthly)
total about $49k
total expense about $20k/month
but should drop to $8k once we decide to retire in 5 years time.
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Impressive. Are you able to retire now?
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07-06-2022 12:12 PM |
Unregistered |
my household income (both age 50)
salary $40k
rental $4k
dividend $5k (annualized into monthly)
total about $49k
total expense about $20k/month
but should drop to $8k once we decide to retire in 5 years time.
Quote:
Originally Posted by Unregistered
My current income streams:
salary $23k
rental 1 $2.5k
rental 2 $2.2k
side hustle 1 $6k
side hustle 2 $1k
dividends $1.3k
Total: $36k
If I retire I will lose my salary of $23k, leaving $13k.
However, these are my expenses:
parents 4.5k
helper 0.7k
ppty tax 0.4k
credit cards 6k
bills 0.5k
loan 1 6k
loan 2 3k
income tax 3k
Total: $24k
If I exclude income tax, it is still $21k. Granted that both loans are technically paying off properties which are assets, they are still depleting my cash.
Am I able to retire?
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07-06-2022 09:43 AM |
Unregistered |
Quote:
Originally Posted by Unregistered
My current income streams:
salary $23k
rental 1 $2.5k
rental 2 $2.2k
side hustle 1 $6k
side hustle 2 $1k
dividends $1.3k
Total: $36k
If I retire I will lose my salary of $23k, leaving $13k.
However, these are my expenses:
parents 4.5k
helper 0.7k
ppty tax 0.4k
credit cards 6k
bills 0.5k
loan 1 6k
loan 2 3k
income tax 3k
Total: $24k
If I exclude income tax, it is still $21k. Granted that both loans are technically paying off properties which are assets, they are still depleting my cash.
Am I able to retire?
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You already know your cash is going to deplete. You should already know your answer.
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