When can I retire and no need to work?

[Guest Retire]

How to retire early, no need to work and reach financial freedom?

[Guest Smell Your Own Armpits]

Thio 4D.

[mate69]

Tomcat can answer u 

[lonelyglobe]

1 hour ago, Guest Retire said:

How to retire early, no need to work and reach financial freedom?

How old are u to start with? 

[Greenliv]

Retire and work are not relational. Some people never retire and simply enjoy working on their keyboard, dispensing their thoughts. Some people never work but don't seem to live a life like retirement (chronic illness).

 

If we just do the things we need to do, one day we will know when we have to retire regardless of whether can want to or not. 

[Guest guest]

If you do not have a good plan what to do after you have retire, you might ended up doing nothing everyday and go crazy one day. Work still can make your brain work and physically active.

[Why?]

4 hours ago, Guest Retire said:

How to retire early, no need to work and reach financial freedom?

You work, you spend, no retirement

You don't work, don't spend, can retire.

You work, you don't spend,  you are meaningless

You don't work, you spend, you are fucked!!

[Greenliv]

28 minutes ago, Why? said:

You work, you spend, no retirement

You don't work, don't spend, can retire.

You work, you don't spend,  you are meaningless

You don't work, you spend, you are fucked!!

You don't work, you spend, you are fucked!!

 

Getting fucked is also hard work. My btm told me to stop because he said too tired for him. So I presume it's also hard work for him and getting tired. 

[Guest Santai]

When you feel you have achieved anything in life and to your satisfactions then you can choose to retire. no work, or whatever.

[passinthenight]

You can always buy a TOTO ticket and see if that helps. 

 

[fab]

Hook a golden tortoise.

[upshot]

8 hours ago, Guest Retire said:

How to retire early, no need to work and reach financial freedom?

No one in their right mind can answer that for you.. not even close. And you would be too simplistic to think what they tell you fit your personality which one knows.

[Guest Guest]

1 hour ago, upshot said:

No one in their right mind can answer that for you.. not even close. And you would be too simplistic to think what they tell you fit your personality which one knows.

 

.... and yet you answered. Are you in your right mind? 

[upshot]

59 minutes ago, Guest Guest said:

 

.... and yet you answered. Are you in your right mind? 

Tell him .. the only truth and worth say... IT'S FUTILE TO EVEN DISCUSS IT...

 

And since I was in here to rate it one star. Did not take me 3 seconds to type while I wait for my Assassin's Creed Unity to install.

 

And yes I cared enough to do that.  Hope that snack is enough till your next feeding time...

Edited October 24, 2020 by upshot

[feedersmiracle]

1 gauge how much you need to survive in the future, per year.

2 think of alternative careers that you enjoy but not pay as much. 
3 decide when you want to stop working or change the pace

4 decide when you think you will die??? 
 

 

Lol oops.

[Guest Guest]

10 hours ago, upshot said:

Hope that snack is enough till your next feeding time...

 

why you think anyone wants to snack on chao sng things like you? 

 

[Steve5380]

I would define the act of retirement as taking possession of 100% of our time. 

This means that in retirement we can dedicate our time to whatever we want to do.

Implicit here is that we don't need to dedicate any of our time to support ourselves.

 

Once retired, we can travel, we can rest, we can exercise, we can sleep, and... we can work. 

[tyan]

Human are really very 犯贱. Since young when one see your elder siblings going to school, one will think when can go to school. Then when one is in the school, one think when can get out / grad and go out to work to earn money. Once started working, one start to think when can retire. Now when retire, I dunno what’s next. 

[Guest Retire]

5 hours ago, tyan said:

Human are really very 犯贱. Since young when one see your elder siblings going to school, one will think when can go to school. Then when one is in the school, one think when can get out / grad and go out to work to earn money. Once started working, one start to think when can retire. Now when retire, I dunno what’s next. 

After retired, one think when will die. But seriously, after retired even do nothing is better than working 9 to 5. I feel there is nothing wrong to be lazy pig like me. Some aim very high. Some very ambitious. Some very hardworking. Some want to be lazy pig like me. 

[practease]

6 hours ago, tyan said:

Human are really very 犯贱. Since young when one see your elder siblings going to school, one will think when can go to school. Then when one is in the school, one think when can get out / grad and go out to work to earn money. Once started working, one start to think when can retire. Now when retire, I dunno what’s next. 

 

This is so true.

[FIRE2020]

Everything begin with our thought! If you have this thinking, then it is a first step of the journey to retire Happy. Start planning and build your passive income. It is only when you can generate passive income to pay for your expenses, then you have a choice to decide whether to retire or not.  

 

Starting reading FIRE book. I recommend to read the following book. it is rather straight to the points and good tips.

Fire your retirement :  3 simple steps to financial independence and retire early /  Ivan Guan

[Guest Tomato]

3 hours ago, Guest Retire said:

After retired, one think when will die. But seriously, after retired even do nothing is better than working 9 to 5. I feel there is nothing wrong to be lazy pig like me. Some aim very high. Some very ambitious. Some very hardworking. Some want to be lazy pig like me. 

 

That's becoz how Sporeans are brought up and educated in an environment where, there is no grooming of passion. Without passion in life, one would just have the see-beh-sian kinda outlook in life, and have no motivation to work, or do anything.

[tyan]

Actually I tot retirement life can be very exciting too. (Provided u r in good health and money is not a major problem). I think many cannot retire becos still need money for a livehood. 
 

So need to start planning how much u need for retirement. And look thru ur asset, insurance etc add up to reach the amount u need. 
 

The best scenario is passive income. But I dunno how. I am investment is idiot. Haha. 

[InBangkok]

The answer to the question is really very simple. Do your homework. Work out how much you will need to retire with no work. Bear in mind that inflation is presently very low. It could get much higher before you die. So your pot of cash has to be able to grow and keep pace with inflation. It also has to take account of possible serious medical issues. Only you can work out how much you need.

[Steve5380]

There are plenty of theories about retirement, how to make precise calculations and extrapolations to a future, to come up with the important figure of at what age to retire. But I find that the simplest formula is to embrace frugality.  Get everything that is necessary for life, including good clothes to wear at the office,  but cut down to a minimum of spending. Don't go into debt, except to buy a house, don't obsolete objects that still have useful life, and money from the salary will start accumulating.  Invest it the best you can and hope that you won't lose its principal.  Hopefully your work place offers a pension,  your country offers a "social security".  Live a healthy life so that there is a good probability that medical expenses in old age will be minimal. 

 

The best homework, the best plan, will not generate wealth by itself.  Of course we should try to earn as much as honestly possible,  but often the solution is at the other end, the control of expenses, of the outflow of money.  

[InBangkok]

5 hours ago, Steve5380 said:

 Live a healthy life so that there is a good probability that medical expenses in old age will be minimal. 

Wise advice - but important to realise that it will not always be accurate. I had a good friend in Hong Kong. He lived there for almost two decades as a teacher. He was newly married with a young child, loved the city, loved his pupils and they loved him. A few years earlier he had given up his full time job to concentrate on working freelance. Late one afternoon after a meeting in one of the city's top hotels, I was walking down through the hotel to the subway when i bumped into him close to the coffee shop. Not having seen him for a year or so, I asked if he'd been having coffee. He told me he had been at its gym. Having given up his job he had lost his health insurance. He decided he could not afford a policy and so had joined the gym to keep himself fit and illness away.

 

I saw him several more times. In his mid-60s he was in love with life and adored his little daughter. A few weeks later I learned he was in hospital. He had collapsed suffering from an inoperable brain tumour. Friends rallied round but the end of his life was desperately sad.

 

As we age, we all have to realise that however fit and healthy we are, major medical problems can hit us very suddenly. A medical policy that allows for this is another desirable instrument for retirement 

[Guest Susan]

On 10/24/2020 at 11:33 AM, Guest Retire said:

How to retire early, no need to work and reach financial freedom?

Please dont ask kindergarten question .  Such question is 1 +1 .

 

Go see how many zero u have in the bank account or who is your father ( Peter Lim OR Ong Beng Seng) 

 

They will tell you when u can retire 

[Steve5380]

1 hour ago, InBangkok said:

Wise advice - but important to realise that it will not always be accurate. I had a good friend in Hong Kong. He lived there for almost two decades as a teacher. He was newly married with a young child, loved the city, loved his pupils and they loved him. A few years earlier he had given up his full time job to concentrate on working freelance. Late one afternoon after a meeting in one of the city's top hotels, I was walking down through the hotel to the subway when i bumped into him close to the coffee shop. Not having seen him for a year or so, I asked if he'd been having coffee. He told me he had been at its gym. Having given up his job he had lost his health insurance. He decided he could not afford a policy and so had joined the gym to keep himself fit and illness away.

 

I saw him several more times. In his mid-60s he was in love with life and adored his little daughter. A few weeks later I learned he was in hospital. He had collapsed suffering from an inoperable brain tumour. Friends rallied round but the end of his life was desperately sad.

 

As we age, we all have to realise that however fit and healthy we are, major medical problems can hit us very suddenly. A medical policy that allows for this is another desirable instrument for retirement 

 

Of course it will not always be accurate!  There will never be certainty!  No matter how fit and healthy we are,  if walking on the street in front of a high rise where workers are lifting a grand piano at the 99the floor the rope suddenly breaks, and the grand piano falls on our head,  we will get more than a headache! 

 

This is why we talk about PROBABILITIES.  And from the point of view of probability to remain healthy, a healthy life helps  

[bluerunner]

4 hours ago, Guest Susan said:

Please dont ask kindergarten question .  Such question is 1 +1 .

 

Go see how many zero u have in the bank account or who is your father ( Peter Lim OR Ong Beng Seng) 

 

They will tell you when u can retire 

Aunty Susan: Steady Pom pi pi. I like you! 
Seriously ah, if really retire, how are you going to spend your time? Assuming you wake up at 8am and go to bed at 11pm, you have 15hrs each day. For someone who isn’t working, that’s a lot of time, you know. What are you going to do so that you will not be bored to death? 

Edited October 27, 2020 by bluerunner
Add info

[tomcat]

On 10/24/2020 at 12:45 PM, mate69 said:

Tomcat can answer u 

 

Lol!

 

 

On 10/24/2020 at 11:33 AM, Guest Retire said:

How to retire early, no need to work and reach financial freedom?

 

How old are you, guest? I am using modified lean FIRE model, retired last year in Aug.

 

If you are in your 20s or 30s, you have the one best commodity that no one can take away: TIME.

No need play stocks, gamble with investments, or even CPF's 4%. Just rollover insurance policies, while you grow your liquid.

You only need Three. In order of importance: Health, Life Insurance, Retirement.

These are the most stable, more so than stocks, or investments, and you can control your payouts for old age, or early retirement.

CPF in this regard is just additional safety net, for medical. Just money to switch around. 

 

Streamline your living expense, at my highest, I only spent 700 a month.

Still happy, fulfilled and healthy. Now combined with my partner, we both clock in only 500 per month.

The benefits of this pandemic is that it make many people wake up to what is most important.

 

We don't need a car anymore - no more loan, parking, insurance.

House paid off, anytime able to liquidate and downsize.

Our activities are in nature, just simple living, Netflix and other family. We like post pandemic life than pre pandemic.

My partner wants to move beyond his current position, and actually taking this pandemic to leverage his next jump.

More money does not mean more wealth per se, it just means more opportunities that you can make without being pressured by outside factors.

 

We have money not to show off, live high SES life or buy expensive nonsense to impress others.

We have money so we have Control and Options, and we are never shoved into a corner, making choices that we do not want to make.

 

I believe this is the true definition of Financial Freedom.

 

 

 

 

Edited October 27, 2020 by tomcat

[tomcat]

glitching - sorry not used to the new interface.

I am not on BW as often as I used to be!

Edited October 27, 2020 by tomcat

[tomcat]

glitch

 

 

 

 

 

 

 

 

Edited October 27, 2020 by tomcat

[tomcat]

glitch

[Steve5380]

9 hours ago, tomcat said:

 

I believe this is the true definition of Financial Freedom.

 

 

We call this "financial independence".  Any wealth beyond the one that gives us this freedom can result in an imposition on our free time.

 

Who wants to have an expensive sports car to worry about getting it dented and to take it in for expensive services, afraid to touch anything in its guts?

Who wants to own a private airplane, having to learn to fly it, pay storage and maintenance fees, worry if there are storms, pass exams to renew licence?

Who wants to own a big boat, having to go out and use it to avoid feeling that it wastes away,  then pay storage and maintenance fees, have it painted?

Who wants to live in a big mansion feeling an obligation to give big parties to show it off to envious colleagues? 

 

[mature chn]

It is really interesting to read so many comments from members and guests about this topic of retirement. Like one of the members, I have also retired since last September. I have no say to whether I wish to retire or not. I have joined this forum since 2009, realy enjoyed reading the articles written. I suppose there are members or guests here who have also retired. Maybe, we can have a retiree club where members can share what retirees spend our time....

 

 

[Greenliv]

4 minutes ago, mature chn said:

It is really interesting to read so many comments from members and guests about this topic of retirement. Like one of the members, I have also retired since last September. I have no say to whether I wish to retire or not. I have joined this forum since 2009, realy enjoyed reading the articles written. I suppose there are members or guests here who have also retired. Maybe, we can have a retiree club where members can share what retirees spend our time....

 

 

You can start sharing here how you have spent your time since last September till now. 

[Guest Susan]

20 hours ago, bluerunner said:

Aunty Susan: Steady Pom pi pi. I like you! 
Seriously ah, if really retire, how are you going to spend your time? Assuming you wake up at 8am and go to bed at 11pm, you have 15hrs each day. For someone who isn’t working, that’s a lot of time, you know. What are you going to do so that you will not be bored to death? 

I will tell you how I spend my day 

Up at 9am.  Ask mum where she wants to be, - her sister house , her mahjong game , anywhere I will drive her 

Then I am on my own for b/fast.  Reach home ard 11am.  start reading news on internet like I am doing now .  

Afternoon either I am on my own for lunch , or meet friend or go town or anything lah , I feel like, so I am not working has a car 

Very soon evening - jogging at 5.45 till 6.30.  Read a while to catch up news at 6.30pm.  Then dinner at 7pm.  Pick mum at 7.30 home at 8pm.  Workout at home till 9.30pm  shower, is about 10pm.  Catch CNA , relax w Netflix and slowly fall asleep 


There are days I am out all day with friend for shopping movie or mahjong 

As and when I feel like working, I take up freelance assignment 

 

 

[Guest Retire]

5 hours ago, Guest Susan said:

I will tell you how I spend my day 

Up at 9am.  Ask mum where she wants to be, - her sister house , her mahjong game , anywhere I will drive her 

Then I am on my own for b/fast.  Reach home ard 11am.  start reading news on internet like I am doing now .  

Afternoon either I am on my own for lunch , or meet friend or go town or anything lah , I feel like, so I am not working has a car 

Very soon evening - jogging at 5.45 till 6.30.  Read a while to catch up news at 6.30pm.  Then dinner at 7pm.  Pick mum at 7.30 home at 8pm.  Workout at home till 9.30pm  shower, is about 10pm.  Catch CNA , relax w Netflix and slowly fall asleep 


There are days I am out all day with friend for shopping movie or mahjong 

As and when I feel like working, I take up freelance assignment 

 

 

I envy you. How old are you when you retire? How do you manage to retire so early one?

[Guest Susan]

32 minutes ago, Guest Retire said:

I envy you. How old are you when you retire? How do you manage to retire so early one?

Retired at 42.  Make an edu guess 

 

1.  Inheritance 

2. Born in a rich family 

3. Married rich 
4. Made some sound investment  

 

My earlier post missed out that pre-covid time you spent time traveling , etc 

 

 

[Guest Retire]

21 minutes ago, Guest Susan said:

Retired at 42.  Make an edu guess 

 

1.  Inheritance 

2. Born in a rich family 

3. Married rich 
4. Made some sound investment  

 

My earlier post missed out that pre-covid time you spent time traveling , etc 

 

 

My guess would be sound investment. Plus family also quite rich. What kind of investments? Is it risky? I bought prudential retirement policy in continuation of my flexi pru which matured next year still not enough to retire by age 60. 

[Guest Susan]

5 minutes ago, Guest Retire said:

My guess would be sound investment. Plus family also quite rich. What kind of investments? Is it risky? I bought prudential retirement policy in continuation of my flexi pru which matured next year still not enough to retire by age 60. 

what u bought is retirement policy that will kicks in later part of your life ( I assumed after 60) .  I have that too.  

A combo of a few .  Passive income.  My family background.  My own investment.  My husband also helped me to jump start some investments to set me up and running........  

[Guest Retire]

9 minutes ago, Guest Susan said:

what u bought is retirement policy that will kicks in later part of your life ( I assumed after 60) .  I have that too.  

A combo of a few .  Passive income.  My family background.  My own investment.  My husband also helped me to jump start some investments to set me up and running........  

Haiz. Thats mean you belongs to high social economic status. A commoner like me will have to work till my 2 legs straighten. 

[Guest Susan]

2 hours ago, Guest Retire said:

Haiz. Thats mean you belongs to high social economic status. A commoner like me will have to work till my 2 legs straighten. 

Why so? Married a rich man

[JyT]

When you get covid loh then can retire.This covid really effecting our life 

[Steve5380]

9 hours ago, Guest Susan said:

Retired at 42.  Make an edu guess 

 

1.  Inheritance 

2. Born in a rich family 

3. Married rich 
4. Made some sound investment  

 

My earlier post missed out that pre-covid time you spent time traveling , etc 

 

 

 

Retirement at 42 is quite young.  Good for you!  I retired at 56, and worked half time for the same company for 10 years as a technical consultant.

 

1.  Inheritance:  ZERO

2. Born in a rich family:  only rich in culture and education, being refugees from Germany.

3. Married rich:  wife from good family who HAD BEEN rich, but no money from there.  

4. Have my profit sharing from work invested,  but have not touched one cent of it yet.

[Guest Susan]

On 10/27/2020 at 3:09 PM, bluerunner said:

Aunty Susan: Steady Pom pi pi. I like you! 
Seriously ah, if really retire, how are you going to spend your time? Assuming you wake up at 8am and go to bed at 11pm, you have 15hrs each day. For someone who isn’t working, that’s a lot of time, you know. What are you going to do so that you will not be bored to death? 

 

BlueRunner , this is my plan for TODAY ! 

 

Home now at 11.10am reading news online.  Was thinking to Jalan Raffles City to Suntec to Marina Sq.  But changed of plan (because I am feeling lazy).  So stay home laze around.  Lunch , I might go IMM instead, see what do they have to offer.     After that to library to return books & checkout any interesting books.  

 

Otherwise home by 4pm catch up on my Netflix for an hour till 5.15 (jogging), dinner , then pickup mum.  Workout from 8 -9.30pm at home etc. 10pm to wind down on bed to relax w news 

Not to mention tat along the way (in IMM) if I turn ON my Grindr, Scruff , Growlr & Jack"D - see anyone jio me to visit him (or suddenly a friend ring me, for lunch, after tea or dinner  - ON lah) 

 

So many options, so many opportunities.  For ppl who said retired do what, I think these ppl very sad case , NO work means NO life !  

 

What abt friends, family , hobbies, "me-time" even doing nothing daydream is a luxury ...... they just dont know how to enjoy life (wasted) 

 

Horny can visit Sauna, or Gay apps or your regular FB esp now so many WFH ! 


Retired dont know what to do hahaha -  Mine is not enuff time , i have to cancel some appts 
 

 

[Coolbriz]

20 minutes ago, Guest Susan said:

 

BlueRunner , this is my plan for TODAY ! 

 

Home now at 11.10am reading news online.  Was thinking to Jalan Raffles City to Suntec to Marina Sq.  But changed of plan (because I am feeling lazy).  So stay home laze around.  Lunch , I might go IMM instead, see what do they have to offer.     After that to library to return books & checkout any interesting books.  

 

Otherwise home by 4pm catch up on my Netflix for an hour till 5.15 (jogging), dinner , then pickup mum.  Workout from 8 -9.30pm at home etc. 10pm to wind down on bed to relax w news 

Not to mention tat along the way (in IMM) if I turn ON my Grindr, Scruff , Growlr & Jack"D - see anyone jio me to visit him (or suddenly a friend ring me, for lunch, after tea or dinner  - ON lah) 

 

So many options, so many opportunities.  For ppl who said retired do what, I think these ppl very sad case , NO work means NO life !  

 

What abt friends, family , hobbies, "me-time" even doing nothing daydream is a luxury ...... they just dont know how to enjoy life (wasted) 

 

Horny can visit Sauna, or Gay apps or your regular FB esp now so many WFH ! 


Retired dont know what to do hahaha -  Mine is not enuff time , i have to cancel some appts 
 

 

Hi sister Susan, really envious of your retirement life. Just wondering how come your daily routine sounds like that of a single person and your hubby is out of picture? 

[Guest Susan]

21 minutes ago, Coolbriz said:

Hi sister Susan, really envious of your retirement life. Just wondering how come your daily routine sounds like that of a single person and your hubby is out of picture? 

Clever , u spotted it.  He is currently stuck in overseas.  So if he is back, my mum will move to stay with my sister and it will our lifestyle ; 

Maybe our lunch will be at IKEA , after that jalan.  Or afternoon we movie.  Evening jogging together and then might cook dinner etc , just like those couple 

Not to forget we also do grocery shopping , or meet up with friend for dinner etc 

[Coolbriz]

6 minutes ago, Guest Susan said:

Clever , u spotted it.  He is currently stuck in overseas.  So if he is back, my mum will move to stay with my sister and it will our lifestyle ; 

Maybe our lunch will be at IKEA , after that jalan.  Or afternoon we movie.  Evening jogging together and then might cook dinner etc , just like those couple 

Not to forget we also do grocery shopping , or meet up with friend for dinner etc 

Aww ok, must be missing your hubby for quite a bit.. 

[Guest Susan]

3 minutes ago, Coolbriz said:

Aww ok, must be missing your hubby for quite a bit.. 

Pls , we are together for 10 years.  Also w today's technology , Zoom lah , FT lah , whatever u can think of , 

 

Not so much ... we are very mature and stable couples not to forget even if u r attached, we each has our social life