Discussion on Retirement For Older Gay + Life @ 50, 68 & Beyond + Retire With No Worries (Compiled)

[Guest Alex65]

I’m 65 years old, self-employed in pet care so not big earnings. I earned $36,000 before COVID. I really have zero in savings. I rent my apartment and lease a car. 

 

The Bad: I went through a bankruptcy in 2011 due to my part

ner leaving me. That is set to fall off my record in July this year. My credit score is so low. I think it will go up after the bankruptcy clears.

 

But now what?  My CPF will probably be about $1,100-$1,200 a month at Full Retirement Age. This is impossible to live on in this country.

 

I was a gym instructor for many years, and now take care of doggies (which I love) but it’s low pay. In other words, my skill set is paltry in light of today’s economies and technologies. 

 

The Ugly: I tried to finish college and finally get my degree about 15 years ago, but the educational counselor was so negative about my chances that it was discouraging and depressing, so I let go of that intention. Now I think, sadly, she was supposed to encourage and guide me. 

 

The Good: This year, I finally paid off $20,000 in credit card debt that had been weighing me down, by doing 0% interest balance transfers for the past few years. So I now have very little credit card debt which I pay off in full every month to avoid Interest charges.

 

Any helpful suggestions on how to lift myself into a better financial situation? 

[Guest Retirement]

Why are you leasing a car ? Use public transport lah

[sman.sg]

Think first thing is to see if possible to afford some sort of medical insurance else this will be a hefty element if you have any health / medical isssues. At least, the insurance can help assist in this aspect. Given your age, start with NTUC as most insurers now have a age limit.

 

Other things to look at is more of part time jobs. You can look at some of the services people sell here on Fiverr. and see if there is any course in Singapore under the Skills Development fund to see if you can take a course there and offer such services. There are also sites where they look for people to assist with language practice from other parts of the world. explore a bit.

 

Else, look for those children bus transport companies. They are always looking for people that can help them look after kids on the bus. morning and afternoon usually, does not pay a lot but at least no need complex skill sets and you interact with young kids (keeps you postive and young   i hope)

 

Stay positive. I believe there is always a way out.

[GachiMuchi]

NTUC is offering courses. Can consider it.

https://www.ntuclearninghub.com/ntuc-training-fund-seps/

 

Can make use of your Skill future credits to learn IT stuff if you are not IT savvy.

 

With the necessary IT knowledge, you can conducting Zoom classes or do live streaming on pet care related stuff, etc. or explore on how to make use of IT to market your pet related business.

 

Just some suggestions.

[Guest ELDER]

Why rent an apartment? You not eligible for the rental flats? 

[GachiMuchi]

I am sure there are reason/s why TS need to rent an apartment, have a car, paid his debts, no savings and living beyond his means.

[auscent]

Adaptation is a key: hows ur other expenses like food/eating out; subscription? Any chance of refiguring expenditure on these?

Also: can u expand pet care skills eg freelance/babysit pets for people stressed out from WFH?

Edited May 26, 2021 by auscent

[FattChoy]

3 hours ago, Guest Alex65 said:

The Ugly: I tried to finish college and finally get my degree about 15 years ago, but the educational counselor was so negative about my chances that it was discouraging and depressing, so I let go of that intention. Now I think, sadly, she was supposed to encourage and guide me.

Its never too late to learn .... about personal accountability.  Funny she was just trying to help you with your problem and now your post made it seem like she was the problem.

[FattChoy]

3 minutes ago, FattChoy said:

Its never too late to learn .... about personal accountability.  Funny she was just trying to help you with your problem and now your post made it seem like she was the problem.  

 

That type of mentality will have no one here bother to offer you any help.  

In any case, Happy Vesak Day.  To reach peace and inner tranquility, hopefully we can all learn to give up on all our cravings for worldly belongings and pleasures.

Edited May 26, 2021 by FattChoy

[Guest Guest]

3 hours ago, Guest Alex65 said:

 

The Ugly: I tried to finish college and finally get my degree about 15 years ago, but the educational counselor was so negative about my chances that it was discouraging and depressing, so I let go of that intention. Now I think, sadly, she was supposed to encourage and guide me. 

 

 

i dun see any loss in not getting a degree at 50yo.

at 50yo, how do you think a degree is going to help you? it will just be a useless piece of paper and waste of time and effort, unless you are already in a particular field for many years and need that jump in qualification to advance.

 

you are better off going for short courses or getting professional certification that will aid you in what you wanna do.

 

 

[appboy]

Since you are self-employed, I presume you are of a different breed with independent thinking.

 

If not, you wouldn't have chosen a different career path in your younger days to be on your own instead of being a typical salaried worker.

 

I have some good news and bad news for you.

 

Bad news:

1. Don't be fixated on not completing your degree. Even professionals with  experience and degree are finding hard to find jobs now. Take it as a blessing in disguise. It's all about skillsets now.
2. Ageist is real in Sg and very unforgiving. Very low chance of getting hired at entry level into a new industry if you are above 40.
3. At your age, you don't have the energy and time to compete with someone younger, faster and cheaper. 
4. Even if you hold 3 part-time jobs, your savings can't catch up with your expenses and inflation.

 

Good news:

1. You are adaptable.
2. You are disciplined. 
3. You are hardworking
4. You are proactive
5. You have more wisdom now

Solutions:

1. Don't trade time for money. You don't have that option anymore.
2. Have an employer mindset instead. Create economies of scale. Go for scale and volume.
3. Collaborate or hire people to do the leg work while you do the thinking and planning.

With your kind of character, you won't die easily. I know because I'm like you. However, whether you can succeed or not depend on your next step. 

 

Drop me a note if you need someone to talk to.

 

Hope it helps. Take care bro!

[begleitung]

Great analysis!!

[mith]

4 hours ago, Guest Alex65 said:

I’m 65 years old, self-employed in pet care so not big earnings. I earned $36,000 before COVID. I really have zero in savings. I rent my apartment and lease a car. 

 

The Bad: I went through a bankruptcy in 2011 due to my part

ner leaving me. That is set to fall off my record in July this year. My credit score is so low. I think it will go up after the bankruptcy clears.

 

But now what?  My CPF will probably be about $1,100-$1,200 a month at Full Retirement Age. This is impossible to live on in this country.

 

I was a gym instructor for many years, and now take care of doggies (which I love) but it’s low pay. In other words, my skill set is paltry in light of today’s economies and technologies. 

 

The Ugly: I tried to finish college and finally get my degree about 15 years ago, but the educational counselor was so negative about my chances that it was discouraging and depressing, so I let go of that intention. Now I think, sadly, she was supposed to encourage and guide me. 

 

The Good: This year, I finally paid off $20,000 in credit card debt that had been weighing me down, by doing 0% interest balance transfers for the past few years. So I now have very little credit card debt which I pay off in full every month to avoid Interest charges.

 

Any helpful suggestions on how to lift myself into a better financial situation? 

$1100-$1200 a month steady cpf income cannot live? what do u want in life?

 

many people survive on much less... 

 

my entire expenditure per month, all inclusive (food, transport, utility, entertainment, phone+home wifi, hobby expenditure) so far never exceed $500. yes. i reside in singapore! i retired 43, now 50. 

[Guest Beggar Survival Guide]

4 hours ago, Guest Alex65 said:

But now what?  My CPF will probably be about $1,100-$1,200 a month at Full Retirement Age. This is impossible to live on in this country.

 

 

As long as you are able to cover Transport, Housing and Meal. You are pretty safe on survival. Additional spending like internet, utitlties is not alot per month.  Any additional spending is extravagance. 

 

In fact, you can do part-time, less stressful job to give you extra savings (above your surviving income) and still can enjoy work life balance.  At 65yo, don't think too much  already, grab whatever opportunity that pays, to give you a secured life.   Treasure every living day as a gift.  Eat moderately and healthily. 

 

$1100/month (for not working) may not be a lot to you, but is a lot to many people who are currently working at lower rate or not able to work at all.

 

If your car cannot generate revenue for you, give it up.  Channel the installments to your accomodation.   However, keep your license which is better than any good qualification to help you secure a driving job.

 

The above suggestion is workable only if you stop paying hefty rent for your apartment.  Work out with HDB to see if you can rent a subsidised place to stay, may be $100 or less per month rent.  Your current priority is  a permanent roof over your head, without breaking your thin wallet.  Once that is settled, every other issue will soon resolved on its own, giving you more peace and less burden to think about.  

 

65yo, still have room for many opportunities.  There are still many people working in the office at 70yo, go to the city and you can easily spot them under broad daylight.  Most importantly, find something you are passionate about.  It takes time, but don't fall scam that involved money.

[FIRE2020]

At age of 65, you should enjoy your life to the fullest and live within your means. Since your inflow of income is capped, you need to cut your expenses. Perhaps explore HDB rental flat can be very cheap if you qualified and I think these days you can apply just with your own name. Cutting rental expenses would be a good start. 

 

I suppose you leased car for pet care biz etc. Not sure whether you could do without it or not.  

 

Frankly SGD1,100 from cpf is good enough for simple living. Also if you stay at hdb rental flat, there is some charity organization might reach out to you to render some financial support if you meets the requirements. 

 

My ex quit his job at age of 40 and rented out of his 3rm hdb flat to live on SGD 1,800 rental income.  After deducting room rental, he probably left with 1,200 to spend for the months. It's been 12 years since then, he is still surviving and lead a basic life style in Singapore. 

He has all his time to himself without selling his time for income unlike most of us working for money.  However, it would much better if he could make full use of his time instead of waking up at noon and watch yotube, Korean drama etc. Having said that he is the master of his time, if he enjoy his way of life that's matter most isn't it.  

 

Good luck and stay healthy physically and mentally. Happy Vesak Day!

 

[passinthenight]

Congratulations on making 65 and also paying off your credit cards.

Not everyone retires at retirement age.

Some people love to go to work every day.

[Guest Ya!!]

1 hour ago, FIRE2020 said:

My ex quit his job at age of 40 and rented out of his 3rm hdb flat to live on SGD 1,800 rental income.  After deducting room rental, he probably left with 1,200 to spend for the months. It's been 12 years since then, he is still surviving and lead a basic life style in Singapore.

 

But that is not he best way to live a retirement life.  You have no freedom renting someone's room.  You  cannot cook your favourite meal, you felt crammed into a box,  Your daily movement is watched, and spyed upon. You cannot bring guests over for sex,  You do not have enough storage space, nor the space to move around.  You can't breath in someone's else house.  So ya, best is to stay in your own place and retire.

[Guest Guest]

3 hours ago, mith said:

$1100-$1200 a month steady cpf income cannot live? what do u want in life?

 

many people survive on much less... 

 

my entire expenditure per month, all inclusive (food, transport, utility, entertainment, phone+home wifi, hobby expenditure) so far never exceed $500. yes. i reside in singapore! i retired 43, now 50. 

retired at 43? what you doing previously?

retire so early wont be bored meh?

[Guest Aiya!!]

20 minutes ago, Guest Guest said:

retired at 43? what you doing previously?

retire so early wont be bored meh?

Aiya!!!!  People retire early to avoid kissing boss ass and playing office politics.  How can life be bored?  It is your time now, if not when??

[FIRE2020]

2 hours ago, Guest Ya!! said:

But that is not he best way to live a retirement life.  You have no freedom renting someone's room.  You  cannot cook your favourite meal, you felt crammed into a box,  Your daily movement is watched, and spyed upon. You cannot bring guests over for sex,  You do not have enough storage space, nor the space to move around.  You can't breath in someone's else house.  So ya, best is to stay in your own place and retire.

I fully agreed with you. I won't want live such life style too. Hence, i need to plan for my own retirement properly. 

[quanjishou]

5 hours ago, mith said:

$1100-$1200 a month steady cpf income cannot live? what do u want in life?

 

many people survive on much less... 

 

my entire expenditure per month, all inclusive (food, transport, utility, entertainment, phone+home wifi, hobby expenditure) so far never exceed $500. yes. i reside in singapore! i retired 43, now 50. 

if u do not mind can share with us your break down of your expenditure?

[tyan]

6 hours ago, mith said:

$1100-$1200 a month steady cpf income cannot live? what do u want in life?

 

many people survive on much less... 

 

my entire expenditure per month, all inclusive (food, transport, utility, entertainment, phone+home wifi, hobby expenditure) so far never exceed $500. yes. i reside in singapore! i retired 43, now 50. 

Hi. I agree and disagree with you. I used to think that I’m always far behind retirement. During this CB where everyone is forced to lockdown, i realized that it is possible to live a simple lifestyle (no need lavish food, minimum transport & entertainment). What is left is utilities, wifi. When I am not required to go office anymore, I even lost the mood to buy clothes even from online. That’s why I agreed. But at the age of 45, I am still giving my parents allowance and also paying a premium for my retirement insurance plan. This 2 are my biggest “expenditures”. So this is part I disagreed. So unless u do not have to give any allowances anymore. 

[Guest Guest]

2 hours ago, FIRE2020 said:

I fully agreed with you. I won't want live such life style too. Hence, i need to plan for my own retirement properly. 

 

Must strike a balance between planning for retirement and living your present life to the fullest.

 

You can plan and plan but who knows, something happen and you might be gone tomorrow.

[mith]

9 hours ago, tyan said:

Hi. I agree and disagree with you. I used to think that I’m always far behind retirement. During this CB where everyone is forced to lockdown, i realized that it is possible to live a simple lifestyle (no need lavish food, minimum transport & entertainment). What is left is utilities, wifi. When I am not required to go office anymore, I even lost the mood to buy clothes even from online. That’s why I agreed. But at the age of 45, I am still giving my parents allowance and also paying a premium for my retirement insurance plan. This 2 are my biggest “expenditures”. So this is part I disagreed. So unless u do not have to give any allowances anymore. 

when i stopped working, i gave my mum 150k in her cpf acct. now every month she draws from there. with huge interest, cpf is life, so she is covered for as long as she live.

 

i had 5 insurance plans. all paid for after 15 years. they will start maturing each every 5 years starting when i turn 55... so 55, 60, 65, 70, 75, each giving me 80k to 100k every 5 years. these are on top of my cpf which still quite substantial. also on top of my current cash savings in 2 banks.

 

i own this current hdb 2 room, which i turn into a studio! i dont drive. no debt (never had credit card debt before, n yes i have only one card, n purchase almost everything with it, ntuc, sheng siong, giant, mcdonald, movies, online purchase like dailies, clothes, edt, cds, gardening items on n on n on lah)

 

truth be told, last 7 years, i had never be happier. everyday on my own time. no boss, no ridiculous colleague, no alarm clock, no peak hours squeeze, swim+tan, go nursery see my greens, simple meals... actually for 15 years with expensive gym memberships, i never get my six pack, last years, reducing my stress level, eat simple, exercise at home+ swim, i lost 14 kg, n i have a six pack now at 50! my skin also clear up, my dark circle completely gone... 

 

i really feel like my true life starts now at 50!

 

fyi, i dont buy n waste my $ on lottery, i worked a 9-6 job like everyone else for 20+ years. just by sensible save n spent management every month. 

[Rex.Therapy]

21 hours ago, Guest Alex65 said:

I’m 65 years old, self-employed in pet care so not big earnings. I earned $36,000 before COVID. I really have zero in savings. I rent my apartment and lease a car. 

 

The Bad: I went through a bankruptcy in 2011 due to my part

ner leaving me. That is set to fall off my record in July this year. My credit score is so low. I think it will go up after the bankruptcy clears.

 

But now what?  My CPF will probably be about $1,100-$1,200 a month at Full Retirement Age. This is impossible to live on in this country.

 

I was a gym instructor for many years, and now take care of doggies (which I love) but it’s low pay. In other words, my skill set is paltry in light of today’s economies and technologies. 

 

The Ugly: I tried to finish college and finally get my degree about 15 years ago, but the educational counselor was so negative about my chances that it was discouraging and depressing, so I let go of that intention. Now I think, sadly, she was supposed to encourage and guide me. 

 

The Good: This year, I finally paid off $20,000 in credit card debt that had been weighing me down, by doing 0% interest balance transfers for the past few years. So I now have very little credit card debt which I pay off in full every month to avoid Interest charges.

 

Any helpful suggestions on how to lift myself into a better financial situation? 

A few pops into my head! I think other BWers here have also given very sound advices!

 

1. Get rid of the car, take public transport. More time spent yes, but unless you're really in a rush (all the time), having a car is more of a liability to you right now (unless you need the car to ferry pets or there's other functional purposes to it)

 

2. Cover yourself with insurance policies first. You do not want to be hit by another debt for medical expenses (if that is not done yet), of course, look at your own earnings first to see whether you can pay off the policies (no point getting policies and you can't pay moving forward and all of that money goes to waste)

 

3. Best way to have more savings is by having more active income. As someone mentioned above, school bus operators could be one avenue. SDA now have quite a few opportunities as well. Unfortuantely if you need to take on more odd jobs to survive, then you have to. You mentioned you used to be a gym instructor for many years. You can probably tap into that again, by conducting zoom session to train. I went running the other day and saw this boxing coach teaching a student how to box beside the river at clark quay (still sticking to the new SMM rules and also earning cash). If you have special skill set in gym training, say maybe geriatric training (for seniors), that could be one of your unique selling point.

 

4. Second best way to have more savings is cutting expenses. I recently discovered this joy of going to the market and buying yong tau fu. 10 pieces there cost maybe 3.20? Plus 500g of mee fen, 200g of beansprouts and 12 taupok in addition cost about 2.10? that is my two meals worth (except for the meefen and beansprout which can definitely be spread for more than 2 meals), and you get all your macronutrients. I used to hate going to the market, but after finding like cheap deals like these which gives me euphoria, you get to kill a lot of birds with one stone.

 

5. Upgrade in skill set. the govt had also had things like they pay you to go for courses (see  https://www.wsg.gov.sg/programmes-and-initiatives/professional-conversion-programmes-individuals.html for a start) where they allow you to do conversion of professional capacity, let you study, and pay you like 1200 a month during the course of work. If you are good with IT/digital marketing, I heard from a friend that Google have this digital marketing course/traineeship where you can get paid an allowance to learn and also intern/work with one of their host companies. (https://grow.google/intl/ALL_sg/result/digital-marketing/  not sure whether this is the correct link but you can take a look)

 

Also you mentioned that you have a degree, may I ask what degree is that? 

 

Ultimately I think it falls on whether you can find something that suits what you want to do, and whether you can earn sufficient from there. Good luck!

 

 

[Guest Guest]

47 minutes ago, mith said:

when i stopped working, i gave my mum 150k in her cpf acct. now every month she draws from there. with huge interest, cpf is life, so she is covered for as long as she live.

 

i had 5 insurance plans. all paid for after 15 years. they will start maturing each every 5 years starting when i turn 55... so 55, 60, 65, 70, 75, each giving me 80k to 100k every 5 years. these are on top of my cpf which still quite substantial. also on top of my current cash savings in 2 banks.

 

i own this current hdb 2 room, which i turn into a studio! i dont drive. no debt (never had credit card debt before, n yes i have only one card, n purchase almost everything with it, ntuc, sheng siong, giant, mcdonald, movies, online purchase like dailies, clothes, edt, cds, gardening items on n on n on lah)

 

truth be told, last 7 years, i had never be happier. everyday on my own time. no boss, no ridiculous colleague, no alarm clock, no peak hours squeeze, swim+tan, go nursery see my greens, simple meals... actually for 15 years with expensive gym memberships, i never get my six pack, last years, reducing my stress level, eat simple, exercise at home+ swim, i lost 14 kg, n i have a six pack now at 50! my skin also clear up, my dark circle completely gone... 

 

i really feel like my true life starts now at 50!

 

fyi, i dont buy n waste my $ on lottery, i worked a 9-6 job like everyone else for 20+ years. just by sensible save n spent management every month. 

Not bad huh, you can be a sugar daddy already.

[gstringuy26]

Doesn't sound local...

[Guest Guest]

3 hours ago, mith said:

when i stopped working, i gave my mum 150k in her cpf acct. now every month she draws from there. with huge interest, cpf is life, so she is covered for as long as she live.

 

i had 5 insurance plans. all paid for after 15 years. they will start maturing each every 5 years starting when i turn 55... so 55, 60, 65, 70, 75, each giving me 80k to 100k every 5 years. these are on top of my cpf which still quite substantial. also on top of my current cash savings in 2 banks.

 

i own this current hdb 2 room, which i turn into a studio! i dont drive. no debt (never had credit card debt before, n yes i have only one card, n purchase almost everything with it, ntuc, sheng siong, giant, mcdonald, movies, online purchase like dailies, clothes, edt, cds, gardening items on n on n on lah)

 

truth be told, last 7 years, i had never be happier. everyday on my own time. no boss, no ridiculous colleague, no alarm clock, no peak hours squeeze, swim+tan, go nursery see my greens, simple meals... actually for 15 years with expensive gym memberships, i never get my six pack, last years, reducing my stress level, eat simple, exercise at home+ swim, i lost 14 kg, n i have a six pack now at 50! my skin also clear up, my dark circle completely gone... 

 

i really feel like my true life starts now at 50!

 

fyi, i dont buy n waste my $ on lottery, i worked a 9-6 job like everyone else for 20+ years. just by sensible save n spent management every month. 

You must be an insurance agent. Insurance agent in the past can earn alot, now the comms are like shit.

 

And insurance agents who are managers or bosses themselves can just go to office as and when they like, ride on their agents’ commission and stop working. 

[lonelyglobe]

21 hours ago, mith said:

$1100-$1200 a month steady cpf income cannot live? what do u want in life?

 

many people survive on much less... 

 

my entire expenditure per month, all inclusive (food, transport, utility, entertainment, phone+home wifi, hobby expenditure) so far never exceed $500. yes. i reside in singapore! i retired 43, now 50. 

Not exceeding $500 is a big challenge in SG. 

 

$10 for 3 meals x 30= $300

$30 for items like milk / drinks, tibits etc.

$120 for utilities + phone + wifi + conservancy fee

$20 for transport assuming u only travel once or twice a week by bus or mrt.  

$30 for shower gel, shampoo, detergent etc. 

 

That will be $500 already and havent include hair cut,  entertainment, hobby etc. I would say if can keep within $800 will be an achievement already. 

[Guest Wfh]

Currently I am working but wfh. Still got salary and medical coverage! I am doing what I like. Providing consultancy work to my fellow colleagues on projects! Overseeing the implementation of projects with minimum supervision as all the section leads are mature adult. I am put in charge of certain document depository just overseeing the administration and touch base with IT if help required. I also in charge of data collation and data submission which can be done remotely. So even I am working but I enjoyed my work and still reviving nice salary! 

[Firday]

22 hours ago, appboy said:

Since you are self-employed, I presume you are of a different breed with independent thinking.

 

If not, you wouldn't have chosen a different career path in your younger days to be on your own instead of being a typical salaried worker.

 

I have some good news and bad news for you.

 

Bad news:

1. Don't be fixated on not completing your degree. Even professionals with  experience and degree are finding hard to find jobs now. Take it as a blessing in disguise. It's all about skillsets now.
2. Ageist is real in Sg and very unforgiving. Very low chance of getting hired at entry level into a new industry if you are above 40.
3. At your age, you don't have the energy and time to compete with someone younger, faster and cheaper. 
4. Even if you hold 3 part-time jobs, your savings can't catch up with your expenses and inflation.

 

Good news:

1. You are adaptable.
2. You are disciplined. 
3. You are hardworking
4. You are proactive
5. You have more wisdom now

Solutions:

1. Don't trade time for money. You don't have that option anymore.
2. Have an employer mindset instead. Create economies of scale. Go for scale and volume.
3. Collaborate or hire people to do the leg work while you do the thinking and planning.

With your kind of character, you won't die easily. I know because I'm like you. However, whether you can succeed or not depend on your next step. 

 

Drop me a note if you need someone to talk to.

 

Hope it helps. Take care bro!

this is the type i love to read when offer any insight !

i will dm you for a cup of coffee - i like to chip in to help too !

 

[Firday]

On 5/27/2021 at 1:38 PM, lonelyglobe said:

 

 

 

 

 

Edited June 14, 2021 by Firday

[Guest Covid19 teach us]

7 minutes ago, Firday said:

share mine :

14.50 for wifi m1

8 for mobile (myrepublic)

20 Town council

100+ Power supply(rebate so foc)

30 for tpt - reduce due to covid

150 for meals (abf 2.50,lunch 3 and dine 5)

 

i was shock also i can live at below $500 monthly if i skip those lifestyle - this covid also teach me to realise sg is not expensive by the media lor

 

 

 

Covid19 teach us

 

don’t need to go tour

don’t need to go cruise

don’t need to go Sauna

don’t need to go expensive restaurants 

don’t need to wear expensive clothes 

don’t need to buy expensive shoes

don’t need to buy expensive winter clothings and expensive luggage bag

don’t need to keep meeting friends for high tea or buffet

don’t need to buy expensive bags 

don’t need to buy expensive houses or spend a lot on renovation 

don’t need to keep going airport jewels or malls

don’t need to go expensive facials spa or massage 

don’t need to eat expensive high teas or foods

don’t need to buy expensive cars

don’t need to go bars nigh clubs or discos 

don’t need to go expensive cinemas or shows or concerts

 

and we still in a good piece!

 

covid19 tells us

 

health is more important 

wifi is important 

lap top is important 

have a roof is important 

walking can also be good for health 

simple food is fine 

wearing mask is important than artificial make up or expensive facials 

staying home is better than wondering around in dark maze of sauna 

having a job now is the luckiest thing and better than striking Toto 

 

so learn something through this once in a life time pandemic. You will be richer and stronger after been through it! If you still grumbling and complaining as before, then you have missed a great opportunity to learn things you won’t want to experience it again! 
 

be a better man! Be strong! Be positive! 

 

 

[lonelyglobe]

I would say need to have a balance,  if everyday self CB at home,  whats the point?

 

Money spent is call money,  money not spent is call will, what is the point of leaving a huge will behind when u r no longer in this world?

[Steve5380]

On 5/26/2021 at 7:52 PM, mith said:

when i stopped working, i gave my mum 150k in her cpf acct. now every month she draws from there. with huge interest, cpf is life, so she is covered for as long as she live.

 

i had 5 insurance plans. all paid for after 15 years. they will start maturing each every 5 years starting when i turn 55... so 55, 60, 65, 70, 75, each giving me 80k to 100k every 5 years. these are on top of my cpf which still quite substantial. also on top of my current cash savings in 2 banks.

 

i own this current hdb 2 room, which i turn into a studio! i dont drive. no debt (never had credit card debt before, n yes i have only one card, n purchase almost everything with it, ntuc, sheng siong, giant, mcdonald, movies, online purchase like dailies, clothes, edt, cds, gardening items on n on n on lah)

 

truth be told, last 7 years, i had never be happier. everyday on my own time. no boss, no ridiculous colleague, no alarm clock, no peak hours squeeze, swim+tan, go nursery see my greens, simple meals... actually for 15 years with expensive gym memberships, i never get my six pack, last years, reducing my stress level, eat simple, exercise at home+ swim, i lost 14 kg, n i have a six pack now at 50! my skin also clear up, my dark circle completely gone... 

 

i really feel like my true life starts now at 50!

 

fyi, i dont buy n waste my $ on lottery, i worked a 9-6 job like everyone else for 20+ years. just by sensible save n spent management every month. 

 

Congratulations!  I could not have said it better.  (although I am so boring preaching frugality everywhere).

 

Now retired, you are the owner of 100% of your time.  You are financially independent, you will have sufficient money for the rest of your life.

And, in addition...  you seem to start appreciating frugality more.  Careful,  it can become addictive!   I am also frugal, not because I need to be but because it feels good.   When I look back 28 years to the days I was 50,  I also feel that my life started to truly improve at 50.   I retired 22 years ago and then worked part time until 13 years ago, and even without the pandemic life has been so nice and easy.   One important factor:  to stay in good health!

[Guest Wait a second]

1 hour ago, Steve5380 said:

 

  I retired 22 years ago and then worked part time until 13 years ago,

Technically speaking, you retired 13 years ago (not 22). Which means you still work until 65yo. 

[Guest sgman]

22 hours ago, lonelyglobe said:

I would say need to have a balance,  if everyday self CB at home,  whats the point?

 

Money spent is call money,  money not spent is call will, what is the point of leaving a huge will behind when u r no longer in this world?

 

Exactly right.

Balance is important. I am all for frugality, but seeing someone posting about living on $500 per month, seems a bit overboard.

Nothing wrong with it, but if one can afford it, better to treat oneself better.

 

[Steve5380]

9 hours ago, Guest Wait a second said:

Technically speaking, you retired 13 years ago (not 22). Which means you still work until 65yo. 

 

I explain in a second:  on retirement, one ends being an employee and receives a pension.  I did this in 1999, 22 years ago.  Then they contracted me as a consultant working part time for another 9 years.  

[Steve5380]

5 hours ago, Guest sgman said:

 

Exactly right.

Balance is important. I am all for frugality, but seeing someone posting about living on $500 per month, seems a bit overboard.

Nothing wrong with it, but if one can afford it, better to treat oneself better.

 

 

You are perfectly right.  If the money is there and there is sufficiently saved, why not spend it.  

But as I wrote before,  frugality can become addictive.  There is PRIDE in being able to do with little resources,  and if this does not deprive one from anything one considers important,  where is the lack of "balance"?   One can even feel good by having little environmental impact.

[Guest Crystal Clear]

54 minutes ago, Steve5380 said:

 

I ends being an employee  in 1999, 22 years ago.  Then as a consultant working for another 9 years.  

By international definition, you continued working until 65 yo. 

[Steve5380]

37 minutes ago, Guest Crystal Clear said:

By international definition, you continued working until 65 yo. 

 

Careful being "Christal Clear".  Christal breaks easily.

 

"International definition"?   Regardless of definition,  I am STILL working.  I work every day at home cooking, cleaning, caring for the yard, fixing things, improving things, caring for myself.  But technically I RETIRED from work 22 years ago.  That I kept receiving some income from consulting or other services does not change this fact.

[Guest Magic Number 65]

8 hours ago, Steve5380 said:

But technically I RETIRED from work 22 years ago.  That I kept receiving some income from consulting or other services does not change this fact.

You officially and completely retired at age 65. That will serve as benchmark to motivate people to completely stop working at 65 and not worry about having to deal with boss or clients.  Let's register them in this forum as base reference for discussion shall we?

[Guest Work happily]

I work but work happily.

I walk to work and quite relaxed at work!

I am not retired but it seems a retiree village workplace! 
 

don’t be choosy and u will be happier like I do! 

[Guest Lobang]

Any vacancy?  I like to work there too.  Any lobang must share with gay people who find it hard to face the tough straight world out there.  OK?

[Guest Anu]

On 5/26/2021 at 4:28 PM, FIRE2020 said:

At age of 65, you should enjoy your life to the fullest and live within your means. Since your inflow of income is capped, you need to cut your expenses. Perhaps explore HDB rental flat can be very cheap if you qualified and I think these days you can apply just with your own name. Cutting rental expenses would be a good start. 

 

I suppose you leased car for pet care biz etc. Not sure whether you could do without it or not.  

 

Frankly SGD1,100 from cpf is good enough for simple living. Also if you stay at hdb rental flat, there is some charity organization might reach out to you to render some financial support if you meets the requirements. 

 

My ex quit his job at age of 40 and rented out of his 3rm hdb flat to live on SGD 1,800 rental income.  After deducting room rental, he probably left with 1,200 to spend for the months. It's been 12 years since then, he is still surviving and lead a basic life style in Singapore. 

He has all his time to himself without selling his time for income unlike most of us working for money.  However, it would much better if he could make full use of his time instead of waking up at noon and watch yotube, Korean drama etc. Having said that he is the master of his time, if he enjoy his way of life that's matter most isn't it.  

 

Good luck and stay healthy physically and mentally. Happy Vesak Day!

 

 

Wow. How to retire at 40s?

[FIRE2020]

2 minutes ago, Guest Anu said:

 

Wow. How to retire at 40s?

Possible. My ex did it but has to give up many things as long as his rental cover his expenses. Then it would work for long terms. But he can't enjoy life to the fullest. Unable enjoy travelling overseas, eat or buy whatever you want.  In return he got freedom from the rat race.  Not for me but for him it is just perfect. Lately, he told me he has nothing to look forward to and happy  if he die in his sleep. Hence for such freedom, one has to learn to manage mental health. 

 

I tried encourage him to do some courses from gov scheme to work simple part time basis like security job. He didn't want to do any works at all. If that's what he wants, no one can force him. To me, it is sad way to spend his life in this way.

 

For sure, if i retired anytime from now due to retrenchment.  I would make full use of my freedom, reading, exercises, lives in Japan for 3 months every now and then. I won't waste my life like his way because estimated expiry date is when i hit 82 or 84 which is SG man life expectancy if lucky to reach such age level.

 

have a good Sunday!

 

 

 

[Guest Field]

20 hours ago, Guest Work happily said:

I work but work happily.

I walk to work and quite relaxed at work!

I am not retired but it seems a retiree village workplace! 
 

don’t be choosy and u will be happier like I do! 

In what field you are working at? When I choose to work in my current job, I thought it would be very good, routine work. Less human interaction. But still maybe its my problem. To others I might be looking stress. But for me, I always try to chiong to finish everything and then rest afterwards. When I chiong, I dont like to talk with people. I'm in a silent fast mode. And everyone think I'm stressed. But I always sian that others always take urgent unexpected leave or mc. Is like a rotation, after they covered sick people, the next day they will sick and absent. Not sure when coming or not. Too many unexpected absent. Is it normal? Is it because I'm single and gay and never experienced or understand the straight world.

[Guest Givenchi]

8 hours ago, FIRE2020 said:

Possible. My ex did it but has to give up many things as long as his rental cover his expenses. Then it would work for long terms. But he can't enjoy life to the fullest. Unable enjoy travelling overseas, eat or buy whatever you want.  In return he got freedom from the rat race.  Not for me but for him it is just perfect. Lately, he told me he has nothing to look forward to and happy  if he die in his sleep. Hence for such freedom, one has to learn to manage mental health. 

 

I tried encourage him to do some courses from gov scheme to work simple part time basis like security job. He didn't want to do any works at all. If that's what he wants, no one can force him. To me, it is sad way to spend his life in this way.

 

For sure, if i retired anytime from now due to retrenchment.  I would make full use of my freedom, reading, exercises, lives in Japan for 3 months every now and then. I won't waste my life like his way because estimated expiry date is when i hit 82 or 84 which is SG man life expectancy if lucky to reach such age level.

 

have a good Sunday!

 

 

 

 I hope that both of you have saved a lot

[Guest Guest]

On 5/26/2021 at 4:28 PM, FIRE2020 said:

My ex quit his job at age of 40 and rented out of his 3rm hdb flat to live on SGD 1,800 rental income.  After deducting room rental, he probably left with 1,200 to spend for the months. It's been 12 years since then, he is still surviving and lead a basic life style in Singapore. 

He has all his time to himself without selling his time for income unlike most of us working for money.  However, it would much better if he could make full use of his time instead of waking up at noon and watch yotube, Korean drama etc. Having said that he is the master of his time, if he enjoy his way of life that's matter most isn't it.  

 

 

 

oops is that why you leave him

[awolonline]

I hope you are on Guest Alex

I just want to say you have inspired me!

Well done on being able to clear your debt - that is super impressive.

To be debt free at 65 is a great goal in itself. And you are doing what you enjoy instead of working in something you hate.

You can always find ways to earn income - a small business, side line to your pets etc. So stay well and happy, you are doing better than a lot of people and have done amazingly well.