FIRE (Financial Independence, Retire Early) Movement

[revhappy]

Why reason why in 3 months?

My daughter's school term starts in India from Jun. So that is the D date for me and I work backwards from there in terms of notice to my employer(1 month) notice to my landlord(2 months).

 

[highsulphur]

My daughter's school term starts in India from Jun. So that is the D date for me and I work backwards from there in terms of notice to my employer(1 month) notice to my landlord(2 months).

Is your lease finished?

 

[BBCWatcher]

Is your lease finished?

It doesn’t necessarily matter. Diplomatic clauses are rather common.

 

[yslvlys]

My daughter's school term starts in India from Jun. So that is the D date for me and I work backwards from there in terms of notice to my employer(1 month) notice to my landlord(2 months).

Haha so in June you are considered FIRE and will start drawing down from your 2MSGD portfolio in India, riding your motorbike into the sunset~?

 

[highsulphur]

It doesn’t necessarily matter. Diplomatic clauses are rather common.

Forgot expats has that privilege

 

[Romeo007]

I am 40 years old. This is how we plan to FIRE

Wife got transfered a Country in EU. Bought a property with savings here so not paying rent or servicing mortgage. Kids go to free public School here. Renting my residential property and industrial property in Singapore for passive income. I am not working now. My wife plans to work in a less stressful job or retire in 5 years.

You can replicate this in a country you can get a job or allow you visa to live. If you do not have kids I guess this would easier. But building assets and saving early in Singapore is key. Just sharing for a different approach vs staying in Singapore to FIRE.

 

[celtosaxon]

I am a bit surprised you are considering an MBA. With your level of knowledge and experience you have more to give to the MBA class than take from there.

The primary reason for doing it is not to gain knowledge, but as a way to build my network — top universities in the U.S. are very good at this, plus it might show that an old dog like me can still learn new tricks.

 

[revhappy]

Haha so in June you are considered FIRE and will start drawing down from your 2MSGD portfolio in India, riding your motorbike into the sunset~?

Yes. My parents have a landed 2 storey house in Bangalore and they live in the lower storey. The upper storey was rented out. We will go and stay in the upper storey.

My daughter's school is 7kms away. I have a car and I will also buy a motorbike. So my routine will be dropping and picking up my daughter from school.

I need to find some hobbies. I also like stock markets and when I look at Kyith from investment moats he was in IT retired early, but he is talented enough to run his blog and that talent got him a job at providend. He converted his passion into purpose, so that is the like such a brilliant result of FIRE.

Unfortunately I don't have enough talent in any such area where I have passion to convert it into a gig. But I will explore what is possible.

 

[revhappy]

Forgot expats has that privilege

How is it a privilege? I am renting the same house since 7 years and the lease gets renewed every 2 years and the diplomatic clause says I can break lease after 12 months, giving a 2 months notice.

My lease is expiring in September. So it is 4 months early. Worst case I don't get my deposit back(2 months rent; 3300 X 2). But I always mentally amortize the deposit for the entire duration of stay and consider it as a NPA. Since I stayed 7 years and there is fair wear and tear, I don't really care if I don't get the deposit back.

The house(5i HDB) was pretty rundown when we leased it and now it is even more rundown, like in the kitchen and bathroom, the paint from ceiling is falling, lol.

 

[revhappy]

I am 40 years old. This is how we plan to FIRE

Wife got transfered a Country in EU. Bought a property with savings here so not paying rent or servicing mortgage. Kids go to free public School here. Renting my residential property and industrial property in Singapore for passive income. I am not working now. My wife plans to work in a less stressful job or retire in 5 years.

You can replicate this in a country you can get a job or allow you visa to live. If you do not have kids I guess this would easier. But building assets and saving early in Singapore is key. Just sharing for a different approach vs staying in Singapore to FIRE.

I am assuming the EU country is Ireland as they have English medium free public school. I understand Netherlands also has English medium options, although you have to pay, it is cheaper than the intl schools in Singapore.

Why don't you also find a relaxed job in the EU country?

 

[d9lives]

Yes. My parents have a landed 2 storey house in Bangalore and they live in the lower storey. The upper storey was rented out. We will go and stay in the upper storey.

My daughter's school is 7kms away. I have a car and I will also buy a motorbike. So my routine will be dropping and picking up my daughter from school.

I need to find some hobbies. I also like stock markets and when I look at Kyith from investment moats he was in IT retired early, but he is talented enough to run his blog and that talent got him a job at providend. He converted his passion into purpose, so that is the like such a brilliant result of FIRE.

Unfortunately I don't have enough talent in any such area where I have passion to convert it into a gig. But I will explore what is possible.

Woohoo!! Another MM member will pull the trigger! How do you feel?

I've been to 7 cities in India and I like Bangalore the most.

 

[BBCWatcher]

How is it a privilege?

A diplomatic clause really isn't a privilege. It's much more about imperfectly addressing the lack of a privilege. It's a clause that's to the mutual benefit of the lessor and lessee. The lessee doesn't really control his/her own destiny in Singapore in terms of employment and immigration status. He/she might be required to leave on relatively short notice. In these circumstances the lessor appreciates notice earlier rather than later or never. The lessor values having a more orderly transition between tenants (and their rental payments) rather than having more tenants "abscond" in the middle of the night, figuratively or literally.

 

[yslvlys]

Yes. My parents have a landed 2 storey house in Bangalore and they live in the lower storey. The upper storey was rented out. We will go and stay in the upper storey.

My daughter's school is 7kms away. I have a car and I will also buy a motorbike. So my routine will be dropping and picking up my daughter from school.

I need to find some hobbies. I also like stock markets and when I look at Kyith from investment moats he was in IT retired early, but he is talented enough to run his blog and that talent got him a job at providend. He converted his passion into purpose, so that is the like such a brilliant result of FIRE.

Unfortunately I don't have enough talent in any such area where I have passion to convert it into a gig. But I will explore what is possible.

So u will start decumulating? Not even doing relax job? Not interested to get the next million?

 

[DevilPlate]

So u will start decumulating? Not even doing relax job? Not interested to get the next million?

2M back to India machiam like 10M here liao

 

[revhappy]

So u will start decumulating? Not even doing relax job? Not interested to get the next million?

Nope. My current job is relaxed, but my manager is a nit picking moron micro manager. I realized I can't take orders from someone who is less IQ than me and more ambitious than me. For me freedom is to not have to do something that I don't want to do. Even the most relaxed job, there will be times where you have to do stuff which you don't want to do and you get pissed off and to me, we have only one life and after hitting FIRE what is the point doing stuff we don't like?

 

[revhappy]

2M back to India machiam like 10M here liao

No lah, more like 2M=4M. On PPP basis a big city in India is like 1/2 as expensive as Singapore, overall.

 

[DevilPlate]

No lah, more like 2M=4M. On PPP basis a big city in India is like 1/2 as expensive as Singapore, overall.

Maybe initially 2M = 6-8M but inflation is quite high in India.
However if u continue to keep in USD, shd do well also.

 

[revhappy]

Woohoo!! Another MM member will pull the trigger! How do you feel?

I've been to 7 cities in India and I like Bangalore the most.

It is always exciting, having waited for all this while for this moment.

But I know on the other side it is not a bed of roses either.

Someone, who hated his job and quit, described FIRE as equivalent to a dagger stuck in you back. Removing the dagger reduces the pain, but doesn't bring joy.

 

[revhappy]

Maybe initially 2M = 6-8M but inflation is quite high in India.
However if u continue to keep in USD, shd do well also.

Indian equity and bond markets are well developed, so they beat the local inflation. I also have allocation to global index funds.

 

[DevilPlate]

It is always exciting, having waited for all this while for this moment.

But I know on the other side it is not a bed of roses either.

Someone, who hated his job and quit, described FIRE as equivalent to a dagger stuck in you back. Removing the dagger reduces the pain, but doesn't bring joy.

You js have to slowly solve yr laziness perhaps?

By retiring at such early age doesn’t help hehehe