Retiring before 40?

[grenoble]

PAP's plan will fail if many of us target to retire early, when we peons become non productive,with stroke of a pen, policies will change again.

they keep you busy running in your small circles, so all u know is work on to keep it going, you forgot to think for yourself, what are you living for?

 

[crimsontactics]

PAP's plan will fail if many of us target to retire early, when we peons become non productive,with stroke of a pen, policies will change again.

they keep you busy running in your small circles, so all u know is work on to keep it going, you forgot to think for yourself, what are you living for?

So what are you living for?

There is no meaning to life bro, we are just random specks of dusts.

Don't think too much.

 

[Perisher]

PAP's plan will fail if many of us target to retire early, when we peons become non productive,with stroke of a pen, policies will change again.

they keep you busy running in your small circles, so all u know is work on to keep it going, you forgot to think for yourself, what are you living for?

Don’t care about PAP. They are hired to serve citizens, not the other way round. If citizens ain’t happy, no point having a government.

 

[havetheveryfun]

PAP's plan will fail if many of us target to retire early, when we peons become non productive,with stroke of a pen, policies will change again.

they keep you busy running in your small circles, so all u know is work on to keep it going, you forgot to think for yourself, what are you living for?

Don’t care about PAP. They are hired to serve citizens, not the other way round. If citizens ain’t happy, no point having a government.

haha.. PAP probably more happy if more ppl have the ability to retire early.. don't need to worry about so many jiak liao bees waiting for handouts from them at old age..

 

[Maeda_Toshiie]

Yes, possible...... assuming no kids
This guy spent most of his days playing Magic cards Married & living in a 4-room flat
$1 million net worth.... oredi retired at 35 years old

https://masterleonginvest.blogspot.com/2018/05/master-is-self-made-millionaire.html

Self made?

 

[Perisher]

Yes, possible...... assuming no kids
This guy spent most of his days playing Magic cards Married & living in a 4-room flat
$1 million net worth.... oredi retired at 35 years old

https://masterleonginvest.blogspot.com/2018/05/master-is-self-made-millionaire.html

Wow you are back!
How are you?

 

[ocs_woodlands]

After my few earlier posts that suggests it is difficult to retire at 40, lemme go over the other side of the aisle.

It is in fact possible to even retire at 38. BUT with conditions....

1) must be single.
2) retirement is out of SG.
3) Simple lifestyle in a rural setting. I am thinking chiang mai maybe with SGD 1K/mth including rental.
4) no contingency for major illness eg if get cancer, don't bother chemo/targeted therapy and so on. Just live and wait for the disease to take it's course..

Will.need about 500-600k (non cpf funds) to generate 12-15k per year. After 14/15 years of working, staying with parents and being thrifty it's possible to save 500k or so....

The point is that the circumstances (family/children etc) one is in will largely determine the retirement age.

Common sense is unfortunately not common at all.. HardwareZone Forums app

 

[starlight318]

After my few earlier posts that suggests it is difficult to retire at 40, lemme go over the other side of the aisle.

It is in fact possible to even retire at 38. BUT with conditions....

1) must be single.
2) retirement is out of SG.
3) Simple lifestyle in a rural setting. I am thinking chiang mai maybe with SGD 1K/mth including rental.
4) no contingency for major illness eg if get cancer, don't bother chemo/targeted therapy and so on. Just live and wait for the disease to take it's course..

Will.need about 500-600k (non cpf funds) to generate 12-15k per year. After 14/15 years of working, staying with parents and being thrifty it's possible to save 500k or so....

The point is that the circumstances (family/children etc) one is in will largely determine the retirement age.

Common sense is unfortunately not common at all.. HardwareZone Forums app

Work for 14/15 years can save 500k? Must be high earners if not I don't think it's possible.

I'm single and sad to say I don't even have half the amount in savings. I'm not staying w parents though, have my own hdb flat almost fully paid.

Any singles can come and share? When do you intend to retire since you are single and presumably have far less commitments Compared to ppl married w kids.

 

[SBC]

Get a HDB to rent out. Retire out of SG.

What is HH?

 

[Sinkie]

Work for 14/15 years can save 500k? Must be high earners if not I don't think it's possible.

I'm single and sad to say I don't even have half the amount in savings. I'm not staying w parents though, have my own hdb flat almost fully paid.

Any singles can come and share? When do you intend to retire since you are single and presumably have far less commitments Compared to ppl married w kids.

Above 35? Bought hdb under single scheme?

Even 8-10 years is possible but you need to be also investing or trading in a bull market to actually get $500k

 

[hwmook]

Work for 14/15 years can save 500k? Must be high earners if not I don't think it's possible.

I'm single and sad to say I don't even have half the amount in savings. I'm not staying w parents though, have my own hdb flat almost fully paid.

Any singles can come and share? When do you intend to retire since you are single and presumably have far less commitments Compared to ppl married w kids.

Of course it's possible. You don't even need to be a high earner. You need to be invested in the stock market to get a decent returns.

 

[hwmook]

Get a HDB to rent out. Retire out of SG.

What is HH?

HH = HouseHold

 

[hwmook]

Wow din expect you to in your mid 30s

There are even some who cut and restrict their spending and fun to "retire" earlier

I strongly believe retirement is when one have so much money that his standard and cost of living and fun can be maintained for next 50 years or until he is 100 years old without the need to really find employment

You expect me to be older or younger? I think we are in the same age group from reading your posts.

I believe retirement can be for a variety of reasons. Some hate working and feel that by not working they will feel happy. Some have a passion they want to pursue and don't wish to spend their life working. I am quite happy to be working so it doesn't really cross my mind to retire even if I have the means to do so. I manage my finances prudently and kept expenditures at a modest level so that I do not really have to depend on my job to earn a living. It also help me to get better returns since I can afford to take a lot more risk with my investment.

 

[ahboy82]

My idea of retirement slightly diff, hav different lvls based on age

I like to move om from a stressful office job or role to a,less stressful one,earning 1/3 or a quarter of current wages juz to substain life. Like maybe work in mac for frw hrs everyday Full retirement probably at a,later age?

Of cos this is juz a dream

 

[koxinga]

Different people,. different strokes. I have read on Reddit about a guy who claims he is retired. Single guy, stay with parents, annual return on investment is 10k - 12k per year. If that's his idea of retirement (sponging off parents for free accommodations and food) that's his choice.

There is a financial dimension but also a mental well being dimension. I would want to continue working but more to keep my brain active and to be able to engage people regularly than worry about bringing home money. It would mean trying to avoid major expenses or liabilities as I get older.

 

[BBCWatcher]

If you’re retiring so early and with such relatively limited wealth, then over the next half century plus, what happens when:

(a) Yields, dividends, interest rates, etc. fall?

(b) There’s a bout of inflation?

It’s not good enough to say, “Oh, I’m getting $X/month of dividends today, and I can live on that.” That doesn’t cut it. There’s nothing guaranteed about 2% interest rates, 3% dividends, or today’s inflation rates. There are even some countries with negative interest rates right now, and there are also some countries with high inflation.

There is a possible way to combat these risks. Let’s suppose you retire at age 40. You could buy an immediate lifetime annuity from a high quality insurer that pays a guaranteed real (inflation-adjusted) level of income, for foundational income (slightly more than enough to survive). If you actually do that, that can work and is reasonably safe, especially if combined with substantial non-annuity assets.

These risks are not unique to early retirees, but they are more acute the earlier you retire.

 

[ocs_woodlands]

Work for 14/15 years can save 500k? Must be high earners if not I don't think it's possible.

I'm single and sad to say I don't even have half the amount in savings. I'm not staying w parents though, have my own hdb flat almost fully paid.

You may not have noticed that my post stated saving of $500k after 14/15 years of working with the assumption of staying with parents...

Common sense is unfortunately not common at all.. HardwareZone Forums app

 

[hwmook]

You may not have noticed that my post stated saving of $500k after 14/15 years of working with the assumption of staying with parents...

Common sense is unfortunately not common at all.. HardwareZone Forums app

No need to stay with parents, use OA to buy own HDB doesn't affect much of your savings. Can even rent out and earn some money.

 

[BBCWatcher]

The “fun” part about retiring early is that, if the math doesn’t work, it won’t work starting several years from now. This experiment won’t finish up until you’ve left this earthly plane, and you won’t be around to report back in this forum how it all went.

There really are people who outlive their wealth. It is an actual problem. Whenever you retire, get some quality, inflation-adjusted, lifetime longevity insurance in place to provide a strong financial floor.

 

[koxinga]

If you’re retiring so early and with such relatively limited wealth, then over the next half century plus, what happens when:

(a) Yields, dividends, interest rates, etc. fall?

(b) There’s a bout of inflation?

It’s not good enough to say, “Oh, I’m getting $X/month of dividends today, and I can live on that.” That doesn’t cut it. There’s nothing guaranteed about 2% interest rates, 3% dividends, or today’s inflation rates. There are even some countries with negative interest rates right now, and there are also some countries with high inflation.

There is a possible way to combat these risks. Let’s suppose you retire at age 40. You could buy an immediate lifetime annuity from a high quality insurer that pays a guaranteed real (inflation-adjusted) level of income, for foundational income (slightly more than enough to survive). If you actually do that, that can work and is reasonably safe, especially if combined with substantial non-annuity assets.

These risks are not unique to early retirees, but they are more acute the earlier you retire.

Suppose if you could live like this guy: https://mothership.sg/2018/04/dumpster-diver-singapore-daniel-tay/
then wait for your parents to die (morbid but..) and you inherit a HDB.

Would that work?

What you said is nothing new and are standard retirement strategies. My own plans are along those lines.

But I am also wondering whether such detailed plans are a uniquely Asian and perhaps, Singaporean. I have western colleagues but I don't get the impression that they plan with such long futures in mind and similarly on my parent-in-law side of the family. Perhaps they come from countries with strong welfare policies.