Are you smart enough to retire?

[JackyCheung]

You have my sympathies.

Hahaha. Ok. Working is good.
Keep me occupied.

 

[JackyCheung]

Less than 1 m in liquid assets. I avoid spending in sg. Instead, make a few trips each year to enjoy cheap good food elsewhere like bkk. Pamper myself once a year with a longer trip. It is much cheaper as i can chose to travel during off peak season However, body now having problem with long flight. I limit my expenses so that it will not eat into my sayings by more than 20k per year. Therefore if my initial saving is said 800 k, it should last about 40 years. (recent inflation had badly affected my buffer) By then, if I am still alive, I plan to surrender my insurance policies.

The only nightmare is medical cost. Should I be hit by any serious illness, I pray that it will not be so bad that I will be totally incapacitated to decide on whether to seek treatment. I don't believe in treatment for terminal cases. Which is why I have become very sensitive to changes in my body system. Sorry to sound brave. I am just eccentric in a certain way.

You in early 50? well, do you invest and earn passive income?

Use passive income to cover your living expenses.

 

[JackyCheung]

My short term goal is to have 1 Million cash by age 35.

Long term goal is to have passive income 10k per month for both me and my wife.

 

[mojito]

You misunderstand the term "retirement".

Retirement doesn't mean doing nothing. It means gaining financial independence so you no longer have to depend on a job to pay the bills.

You can then work hard at what you enjoy doing rather than slogging away at what you are paid to do in order to sustain your lifestyle.

You misunderstand me. I don't need more money and i do not dread the duties i am required to perform. I simply turn up and get paid to hang around my buddies and coworkers fawning all over me. Have been doing that for the past 30 years and loving every moment of it. By your definition i have already retired years ago! Why must you assume i don't like what i am doing? Oh, and the passing glances of envy from lesser folks pleases me greatly!

 

[Seee3]

One thing you should learn is to let go. One example would be this thread. Another was the "tray return saga" which made you look like a fool.

This song is dedicated to you. :p

So sorry if in anyway I got you upset. Anyway, I can't remember the "return tray saga". Most appreciate it, if you can post the link so that I can reflect on how foolish I am/was.

It is my nature to respond to anything if it defers from my view. It is part of my belief in "doing what I wish to do and do it". Whether my view is accepted, it is not important, I have shared my view. I don't normally remember the issue after that and let go. However, at the instance of exchanges, sometimes the evil in me took over and the exchange can be foolish and sacasrstic. However, rest assured, I do let go and forget.

Anyway, I do remember doing many foolish things during my working days. Sometimes purely out of ignorant and was really embarrassing (but I gain a new knowledge), sometimes just to provoke a respond to see the sincerity of the other party and the worse is doing it just to spike the other person. As I aged, I tries my best not to do the latter as we don't gain anything by making another person angry.

 

[Scrooball (clone)]

What kind of thread is this?

Applicable in Singapore? In Singapore, you retire only when you drop dead!

 

[Seee3]

You in early 50? well, do you invest and earn passive income?

Use passive income to cover your living expenses.

No, older. I used to trade but it was stressful. Some say don't speculate but invest and get the dividend. After 2008, my view changed. To invest is ok but is safer only to go in after a big crash.

 

[JackyCheung]

No, older. I used to trade but it was stressful. Some say don't speculate but invest and get the dividend. After 2008, my view changed. To invest is ok but is safer only to go in after a big crash.

true also, i earn about 20k this year, but my paper losses all wipe out my profit.
i invest mainly in blue and some local small cap.

sighz.....

 

[Leongsam]

You misunderstand me. I don't need more money and i do not dread the duties i am required to perform. I simply turn up and get paid to hang around my buddies and coworkers fawning all over me. Have been doing that for the past 30 years and loving every moment of it. By your definition i have already retired years ago! Why must you assume i don't like what i am doing? Oh, and the passing glances of envy from lesser folks pleases me greatly!

If you don't need the money you're paid and you enjoy what you're doing and if you were fired tomorrow it wouldn't matter from a financial standpoint then I'd say you're living a dream life.

 

[tonychat]

If you don't need the money you're paid and you enjoy what you're doing and if you were fired tomorrow it wouldn't matter from a financial standpoint then I'd say you're living a dream life.

i am trying to achieve that right now.. it is a cool life to go for..plus you can have as many gfs as you want.. perfect.

 

[Scrooball (clone)]

true also, i earn about 20k this year, but my paper losses all wipe out my profit.
i invest mainly in blue and some local small cap.

sighz.....

Aiyo, stock market went up and up the entire year, u still make loss?

U bought at all time high is it?

 

[JackyCheung]

Aiyo, stock market went up and up the entire year, u still make loss?

U bought at all time high is it?

no, i made few mistake and didn sell at high ended up, lose about 10-20%

small cap shares. shit. now almost dead stock, just leave it there

 

[tonychat]

What kind of thread is this?

Applicable in Singapore? In Singapore, you retire only when you drop dead!

That is only applicable for sinkie shit losers..

Unfortunately for you , those with passive incomes are not.

 

[Leongsam]

I admire tonychat. He's a great guy.

 

[jjcc888]

No, older. I used to trade but it was stressful. Some say don't speculate but invest and get the dividend. After 2008, my view changed. To invest is ok but is safer only to go in after a big crash.

Ya - I’ve tried but wasn’t successful in finding someone reliable who’s willing to trade for me
Guess they too don’t want the stress here (even the most pro-active (newest) of my remisiers)
So no choice but to have to start doing my own trading again very soon
- only waiting for my new Share/CFD accounts to be funded from the sale of some shares (hope it gets done very soon as instructed)
(Me too stopped trading around 2008 - Lehman Bros & subprime crash ... luckily staved off a 'disaster’ there or else .... )

Don’t know about whether ‘smart’ enough or not here
but I have been ‘involuntarily retired’ for the 2nd Time - all thanks to the government’s refusal to lift some of the cooling measures this time round
The company which employed us can no longer afford to sustain us P[ME]s (+Support Staff) in a practically no-business done environment/dead property market
I came out from my 1st 4-5 year Early/Involuntary Retirement Stint on the last revival of the property market in the Year 2009 but again sadly this year 2014 I was forced into another Involuntary Retirement (as honestly speaking no professional company/firm (in my sector) will be hiring us Ps[PME] as employees {the P Classifieds there at most only want ‘consultants’ in the category where we’ll be ‘paid’ from the business/clients that WE bring in and as such no liability to the Advertiser Company/Firm as then won’t be considered ‘employees’ where they need to pay salary/CPF etc ......} Some of these companies/firms had even started retrenchments from end-2013 too)

It looks likely I WON’T have the energies nor mood to wait patiently again for the next round of revival of the property market with the lifting of some of these measures [earliest maybe 2015 Q2 ??] - to see whether I could find employment again aka coming out from 'professional' retrenchment for the 2nd Time in my life !

I actually LIKE & ENJOY the freedom of time with Retirement (whether Voluntary or Involuntary from Retrenchment)
The only issue is : the loss of the dependable ‘high' monthly salary ... sighzzz (might be considered ‘below par in some circles’)

Arhh well .... there are many others in worse off situations than mine - it could well be a ‘silver lining’ etc
So guess I should count my 'minor blessings' as such & just pray & hope for the best etc ....
Just got to start making some ‘lifestyle’ adjustments (which I’ve really yet to do tho’ - old habits/pleasures/luxuries die hard)

Can’t ‘over-plan’ what is not within my control anyway
It helps that I believe in “The Lord is my shepherd, I shall not want” philosophy [so far so good anyway] :p
Tho’ a BIG windfall or two will help greatly here hahaha .....

 

[JackyCheung]

if i continue to work, can earn probably 100-120k per year.

is there anyone willing to give up 100-120k annual salary?

 

[jw5]

Fully agree.

I admire tonychat. He's a great guy.

 

[Seee3]

....
The only issue is : the loss of the dependable ‘high' monthly salary ... sighzzz (might be considered ‘below par in some circles’)

I had the same experience. Now that you have mentioned, I remembered the uncomfortable feeling when neighbors asked simple question like "on leave today Ah? Or "not working today are?"

It took quite a while for me to tell them that I have retired and they go "arrh, but you are so young". Well that was 10 over years ago and I am glad that I did it.

 

[sochi2014]

Why do you have to be smart to retire? I thought everybody will retire sooner or later?

Scientists are broke are you saying they are not smart?

 

[JackyCheung]

http://news.omy.sg/News/News-Spotlight/story20140901-289041

good article to share about retirement.