Target networth

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cscs3

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We've fairly similar targets. I prefer to target cash. 2 million but I'm more aggressive with my returns at 7% p.a. That's the moment where I'll take a seat and say ahhh finally....

I take net worth as a bonus. Takes a little longer to monetize stuff like CPF and property

7% return per year is consider as high risk profile?
 

revhappy

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800k is all cash ? Or include others ?
Trying to understand if we are similar
Financial assets, cash, equities. I don't own property. Renting currently.

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revhappy

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Change your job lah.
Current job is very slacking and boring. But pretty decent paying, 100k per year. I could jump to a more stressful job. So it is a bad choice between boring Vs stressful.

There is no such thing called as interesting job. That is a myth.

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revhappy

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I very much disagree.
You seem to be among the lucky few who is skilled in an area and love working in that area and found and interesting job in that area.

For normal people, that doesn't exist. 90% of the population is supposed to just slog until death.

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BBCWatcher

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ocs_woodlands

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38 is the middle life crisis age. It is very easy to keep working and growing networth until that age.
But I find like I have hit a wall now and don't want to work and my networth is stuck at 800k. Not enough, yet not keen to grow it by working. Horrible situation.

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38 yo? Still a long way to go......

BUT it is at this age that you gotta seriously start thinking about a job that you CAN work in till 62. CAN doesn't mean must... it just means a job in which you can endure till 62. You gotta choose the correct job. And it's not necessarily one that pays highest but one where you can (again not must) work as long as you want..

I switched to my current job when I was below 30yo (this is my 18th year) and i foresee that I have no problem staying on till 67. BUT I will probably leave at age 57 or 58 cos I plan to have a good 25 years of post retirement till death..
 

revhappy

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38 yo? Still a long way to go......

BUT it is at this age that you gotta seriously start thinking about a job that you CAN work in till 62. CAN doesn't mean must... it just means a job in which you can endure till 62. You gotta choose the correct job. And it's not necessarily one that pays highest but one where you can (again not must) work as long as you want..

I switched to my current job when I was below 30yo (this is my 18th year) and i foresee that I have no problem staying on till 67. BUT I will probably leave at age 57 or 58 cos I plan to have a good 25 years of post retirement till death..
Thanks, you have given me something to think about. Although, at this point I can't think of many things I like doing. I am an IT guy with no interest in IT. I am an electronics engineer, and didn't have much interest in it either and now I am totally outdated.

The only thing I like is finance. Maybe I will try to find some work related to it. I work in banking IT, one of the reason I chose to work in a bank is because I like finance.

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starlight318

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Do you guys have a target networth and stick to it? Once attained, do you relax in any way like changing your job for something that you wanted tor try?

Or do you revise your target when you hit it?

The reason I am asking is that I wonder if I am able to tell myself "that's enough" and stop fretting or at least fret less about whether I have enough. Obviously there are other considerations like if you are single, married or with kids. The last scenario will definitely complicates matters in terms of the budgeting for their future expenses.

For me, i feel that sometimes i can be abit obsessive with FIRE. I have hit my target of maxing out FRS and built up passive income that exceeds my standard living costs. Next target will be clearing off my hdb loan when i reach 40 next year. After that, i think i can basically relax n do anything i want w my career. Whether its switching job or taking a long break n go see the world. No need to stress over money.
 

Incognito1979

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7% return per year is consider as high risk profile?

Well if you put it in the context of how the finance firms would typically risk rate someone then yes it would be considered high risk.

But risk can be somewhat subjective in a way yes? What you're unfamiliar or inexperienced with, would typically be riskier to you. I ve been going at it for over a decade so what I do, to me it's not
 

Dolphinqiqi

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Haha. Does your net worth include your home?
Similar age. Similar feelings.
In life, I talk to people. But nobody got this mid life crisis.

38 is the middle life crisis age. It is very easy to keep working and growing networth until that age.
But I find like I have hit a wall now and don't want to work and my networth is stuck at 800k. Not enough, yet not keen to grow it by working. Horrible situation.

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Sinkie

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Haha. Does your net worth include your home?
Similar age. Similar feelings.
In life, I talk to people. But nobody got this mid life crisis.

In ssi and edmw, primary residence is excluded
But in real life, primary residence is divided by 2 since most are joint name
 

heavenandearth88

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Current job is very slacking and boring. But pretty decent paying, 100k per year. I could jump to a more stressful job. So it is a bad choice between boring Vs stressful.

There is no such thing called as interesting job. That is a myth.

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i am also struck at my boring job. if i change career, got to start from fresh and getting fresh graduate pay. dilemma
 

hwmook

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Current job is very slacking and boring. But pretty decent paying, 100k per year. I could jump to a more stressful job. So it is a bad choice between boring Vs stressful.

There is no such thing called as interesting job. That is a myth.

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My job can be very stressful but it's an interesting job that I enjoy doing and could see myself working at it until I retire. I am a few years younger than you but no mid life crisis for me. I am still increasing my networth and never get bored of doing so.
 

malthead

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Back to my question. How many can actually step off the pedal once you hit your target net worth?
 

malthead

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Haha. Does your net worth include your home?
Similar age. Similar feelings.
In life, I talk to people. But nobody got this mid life crisis.

IMO, you should take out about the value of a 3rm resale flat from your residence and the balance can be construed to your net worth. That's because you minimally need a roof over your head
 

revhappy

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Haha. Does your net worth include your home?
Similar age. Similar feelings.
In life, I talk to people. But nobody got this mid life crisis.
No, I am renting.

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ocs_woodlands

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IMO, you should take out about the value of a 3rm resale flat from your residence and the balance can be construed to your net worth. That's because you minimally need a roof over your head

Yes, that's the correct approach.

And then calculate in detail how each part of your remaining asset will give you the expected returns..
 
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