 |
29-05-2022, 11:32 PM
|
|
Senior Member
|
|
Join Date: Jun 2009
Posts: 40
|
|
Early Retirement
How much do you need to retire early?
|
30-05-2022, 12:14 AM
|
|
|
Quote:
Originally Posted by Salary.sg
How much do you need to retire early?
|
never enough
|
31-05-2022, 10:11 PM
|
|
|
Quote:
Originally Posted by Salary.sg
How much do you need to retire early?
|
2 000 000
10char
|
03-06-2022, 01:10 AM
|
|
|
I want to retire
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?
|
07-06-2022, 09:43 AM
|
|
|
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?
|
You already know your cash is going to deplete. You should already know your answer.
|
07-06-2022, 12:12 PM
|
|
|
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?
|
|
09-06-2022, 11:55 AM
|
|
|
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.
|
Impressive. Are you able to retire now?
|
|
Posting Rules
|
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» 30 Recent Threads |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
