The RETIREMENT thread

[Leongsam]

(F) Save up cash when times are good and get ready to plunge into the stock market and gold market at the deepest point of the recession.

How do you know when the deepest point of recession is? I've played the contrarian hand most of my life and I know a recession when I see one but I've never known when the deepest point is until after the fact.

You obviously have the ability to look into the future. You should be worth billions.

 

[enterprise2]

By what age should I be able to consider myself financially independent?

The younger you are the better. If you can achieve this goal by the age of 25, hats off to you. I wish I'd aimed for this goal instead of wasting my time. I wouldn't have given away a decade of living under the cloud of an employment contract.

A more achievable time frame would be by the age of 40 but no later than 45.

Retiring at 45 gives you loads of time to pursue new goals and to start ticking off your bucket list. You should have at least 15 to 20 years of good health ahead of you which is a huge advantage when it comes to travel and adventure. If you wait till your late 60s, your travel plans could well be limited by the need to be close to health care facilities. You'll need to pack your heart pills, your cholesterol tablets, your insulin and your viagra. In your 40s, your mobile medicine chest is far lighter or non existent.

Just wondering Sam, do u have children or elderly parents to take care of??

 

[Thick Face Black Heart]

How do you know when the deepest point of recession is? I've played the contrarian hand most of my life and I know a recession when I see one but I've never known when the deepest point is until after the fact.

You obviously have the ability to look into the future. You should be worth billions.

I should have been more specific. Its not possible to know in advance what the lowest point in the market is, but its possible to get a gauge on how much downside the market may have left based on sentiment (the fear level), how much of the previous excesses have been purged from the system, how many bad companies have been cleaned out, etc.

The exact bottom may not be called exactly, but anyone who dollar-cost averaged into the market between Oct 2008 and June 2009 (the exact bottom was March 2009) was done very well.

 

[Leongsam]

Just wondering Sam, do u have children or elderly parents to take care of??

Not anymore but I did when I first retired.

 

[enterprise2]

Not anymore but I did when I first retired.

I take it u meant your parents and not kids!!

 

[Leongsam]

I take it u meant your parents and not kids!!

Kids are only dependents for 18 years of ones life. After that, they blaze their own trails.

 

[neddy]

Kids are only dependents for 18 years of ones life. After that, they blaze their own trails.

Some need you to give them a $ headstart $ in life, eg Putting a deposit for their first property.

 

[Leongsam]

Some need you to give them a $ headstart $ in life, eg Putting a deposit for their first property.

I've never believed in that. Financial responsibility ends with tertiary education. After that, they're on their own.

 

[enterprise2]

Kids are only dependents for 18 years of ones life. After that, they blaze their own trails.

My point is that if u have kids and parents to take care, your mobility is severly restricted. By the way, u probably have to take care of kids till they start working. At 18, they are about to enter university and guess who have to foot the bill for that!!

 

[erection2015]

BosSam is occidental in his thinking ....to him they should take a study loan. They repay that loan when they graduate and start working.

My point is that if u have kids and parents to take care, your mobility is severly restricted. By the way, u probably have to take care of kids till they start working. At 18, they are about to enter university and guess who have to foot the bill for that!!

 

[neddy]

How do you know when the deepest point of recession is? I've played the contrarian hand most of my life and I know a recession when I see one but I've never known when the deepest point is until after the fact.

You obviously have the ability to look into the future. You should be worth billions.

Well Singapore has been in a recession for years but the government has a lot of levers to hide that fact.

And recession has nothing to do with buying shares or gold.

You buy shares when it is worth getting using its intrinsic value, and you buy gold to hedge against inflation. There is no fair value for gold because it is not much practical application other a globalised store of value.

 

[enterprise2]

Why take a study loan when u can take the loan from your parents?? Why pay the bank interest?? If I am a kid going into uni, I would think that!! Anyway my point is that Retirement got to factor in parents care (in most our cases, our parents live looong into our retirement years) and kids till they start work. Now lets then recalculate our retirement requirements!!

 

[Leongsam]

Why take a study loan when u can take the loan from your parents?? Why pay the bank interest?? If I am a kid going into uni, I would think that!! Anyway my point is that Retirement got to factor in parents care (in most our cases, our parents live looong into our retirement years) and kids till they start work. Now lets then recalculate our retirement requirements!!

There's no reason to treat retirement income any differently than any other kind of income. When you plan the figures for achieving financial independence, you factor in the cost of any dependants.

As for mobility my experience is that dependents and kids make no difference at all. All the barriers are perceived and don't reflect reality. They can easily be removed with a kind but firm approach to any resistance.

For many, the future of the kids is an added incentive to retire early and move to new pastures. The kids will thank you for it. After all, who would want their future generations to be stuck in a muslim sea in a country where the only direction it can go is downhill.

getting the kids to take a study loan is one of the best financial lessons they'll have as they start out in life. The interest costs pale in comparison to the value of the lessons they learn.

 

[enterprise2]

There's no reason to treat retirement income any differently than any other kind of income. When you plan the figures for achieving financial independence, you factor in the cost of any dependants.

As for mobility my experience is that dependents and kids make no difference at all. All the barriers are perceived and don't reflect reality. They can easily be removed with a kind but firm approach to any resistance.

For many, the future of the kids is an added incentive to retire early and move to new pastures. The kids will thank you for it. After all, who would want their future generations to be stuck in a muslim sea in a country where the only direction it can go is downhill.

getting the kids to take a study loan is one of the best financial lessons they'll have as they start out in life. The interest costs pale in comparison to the value of the lessons they learn.

All I can say is "Easier said than done"!!!

 

[tonychat]

All I can say is "Easier said than done"!!!

Only sinkies say this.

 

[Leongsam]

All I can say is "Easier said than done"!!!

It's as easy or as hard as you make it.

Kids are no problem at all. They have no choice. They do as they're told.

Parents will try to take you on a guilt trip for their own selfish reasons. When you show that you're determined to execute your plans, they'll give in.

 

[Leongsam]

Only sinkies say this.

Only sinkie parents will object to their offspring seeking a better life.

 

[tonychat]

Only sinkie parents will object to their offspring seeking a better life.

Sinkies parents are too selfish and stupid to get their child the true path to a better life. That is why I don't mixed with Sinkies.

 

[enterprise2]

Sinkies parents are too selfish and stupid to get their child the true path to a better life. That is why I don't mixed with Sinkies.

Well I am very glad u don't mix with Singaporeans.

 

[Jah_rastafar_I]

There's no reason to treat retirement income any differently than any other kind of income. When you plan the figures for achieving financial independence, you factor in the cost of any dependants.

As for mobility my experience is that dependents and kids make no difference at all. All the barriers are perceived and don't reflect reality. They can easily be removed with a kind but firm approach to any resistance.

For many, the future of the kids is an added incentive to retire early and move to new pastures. The kids will thank you for it. After all, who would want their future generations to be stuck in a muslim sea in a country where the only direction it can go is downhill.

getting the kids to take a study loan is one of the best financial lessons they'll have as they start out in life. The interest costs pale in comparison to the value of the lessons they learn.

fucking cheebye m&d slimes again. You don't hear ppl write stuck in a buddhist sea after all so many christian ang mohs live peacefully in thailand for example or a christian sea where many ppl of different faiths can visit europe or US without being harrassed for being a different religion.


What's worse is that these m&d slimes are mostly of 1 race/culture and this is true of most m&d slime countries like say turkish ppl are mostly turkish and pakistan are mostly pakis so even if you are a m&d slime but of a different culture that might prove to be a problem.