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Old 14-10-2018, 11:37 AM   #1
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Posts: 5
Need advice for early retirement

Dear All,

I have been reading on this section of HWZ and amazed by the contributions by the members here.

A little background of myself

Age: 40 (Singaporean)
Job: Business owner
Dependants: 2 secondary school kids and wife

Asset
1 x fully paid private condo (own stay)
2 x investment condos generates SGD 8.5K per month (loan left 1M)


Stocks: SGD 800K (non dividend stocks)
Cash: SGD 4.2M

Recurrent income: SGD 125K profit per month

I am looking to generate around 4% per annum based on SGD5M and if you were me, what would you do?

Thanks!
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Old 14-10-2018, 11:47 AM   #2
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Posts: 192
First off, congratulations on your success!

I think it’ll be difficult to answer your question with just the info you provided.
You need to give the gurus here more info:

1) How much is needed to upkeep your lifestyle.
2) What other financial commitments you have that isn’t fulfilled yet.
3) How much u desire to leave as a bequest.

https://youtu.be/cmSxFo2Pz-o
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Old 14-10-2018, 11:52 AM   #3
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Hi ELKYme,

Sorry for lacking of info. Please kindly read inline

1) How much is needed to upkeep your lifestyle.
SGD 250K / year

2) What other financial commitments you have that isnít fulfilled yet.
None

3) How much u desire to leave as a bequest.
I have not thought about it but for now I am giving both my kids the best education they could get ... at later stage maybe each of them would get the 2 investment condos.
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Old 14-10-2018, 11:58 AM   #4
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Hi Outward,

In my personal view, you can retire today as you’ll always end positive with just the condo rentals and existing cash generating returns of 4-5% without touching the principal.

As I’m not qualified to advise, please wait for the others to provide u more solid advise.

Once again congrats!


Hi ELKYme,

Sorry for lacking of info. Please kindly read inline

1) How much is needed to upkeep your lifestyle.
SGD 250K / year

2) What other financial commitments you have that isn’t fulfilled yet.
None

3) How much u desire to leave as a bequest.
I have not thought about it but for now I am giving both my kids the best education they could get ... at later stage maybe each of them would get the 2 investment condos.

Last edited by ELKYme; 14-10-2018 at 12:00 PM..
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Old 14-10-2018, 12:06 PM   #5
SBC
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Posts: 8,414
Need TS help to share more ideas when you had accumulated your wealth.
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Old 14-10-2018, 12:10 PM   #6
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Hi ELKYme,

Thank you.

Hi SBC,

I have hit this milestone this year June 2018.

Cheers,
Outward
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Old 14-10-2018, 12:16 PM   #7
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Get a job/do a business that provides a 125K/month income.

Need TS help to share more ideas when you had accumulated your wealth.
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Old 14-10-2018, 12:21 PM   #8
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Get a job/do a business that provides a 125K/month income.
Very different league.
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Old 14-10-2018, 12:25 PM   #9
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Get a job/do a business that provides a 125K/month income.
that's just... crazy. not many people can hit even 125k/year (after taxes).

given your wealth and income generation you should have many FAs, banks, etc. looking for you to part your money with their schemes. don't think you should be here reading.
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Old 14-10-2018, 12:27 PM   #10
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Dear All,

I have been reading on this section of HWZ and amazed by the contributions by the members here.

A little background of myself

Age: 40 (Singaporean)
Job: Business owner
Dependants: 2 secondary school kids and wife

Asset
1 x fully paid private condo (own stay)
2 x investment condos generates SGD 8.5K per month (loan left 1M)


Stocks: SGD 800K (non dividend stocks)
Cash: SGD 4.2M

Recurrent income: SGD 125K profit per month

I am looking to generate around 4% per annum based on SGD5M and if you were me, what would you do?

Thanks!
I don't quite understand how you can retire. If you are business owner, you can't just retire from the business. I assume you are entrepreneur. Who is going to manage your business for you? Do you trust someone else to do the work for you?

I thought retiring is for salary workers. They can resign from the job. Replacements can easily be found. Not so easy for business owners.

Money-wise, you have more than enough to retire.

I think most of us need advice from you how to make that kind of money at 40 in the first place. Haha.
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Old 14-10-2018, 12:33 PM   #11
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Can TS start a thread sharing how he started a biz n can generate $125k profit per mth?
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Old 14-10-2018, 12:43 PM   #12
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Coz we’re not a banker/private doctor/top insurance/top politician/businessman.

No worries, we can still retire Bro, the Maths is the same:

Passive income > Expenses

So long we have a financial plan in place that includes retirement planning and be disciplined about it, we’ll get there too. Jiayou!

Very different league.
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Old 14-10-2018, 12:55 PM   #13
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No need to manage Bro, even if TS gives away the business at $0 today, with he’s current lifestyle and current assets managed properly, it’ll likely be sufficient.

I’ve got a friend that retired in he’s early 40’s. Used to be a financial trader.
Initially kept calling me to go out coz he has nothing to do, can’t entertain him too much coz I’m working.
These days no more contact... likely he found friends like himself to hang out with.

I don't quite understand how you can retire. If you are business owner, you can't just retire from the business. I assume you are entrepreneur. Who is going to manage your business for you? Do you trust someone else to do the work for you?

I thought retiring is for salary workers. They can resign from the job. Replacements can easily be found. Not so easy for business owners.

Money-wise, you have more than enough to retire.

I think most of us need advice from you how to make that kind of money at 40 in the first place. Haha.
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Old 14-10-2018, 01:02 PM   #14
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Posts: 3,359
Why would you want to retire if your business is doing so well?
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Old 14-10-2018, 01:17 PM   #15
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No need to manage Bro, even if TS gives away the business at $0 today, with he’s current lifestyle and current assets managed properly, it’ll likely be sufficient.

I’ve got a friend that retired in he’s early 40’s. Used to be a financial trader.
Initially kept calling me to go out coz he has nothing to do, can’t entertain him too much coz I’m working.
These days no more contact... likely he found friends like himself to hang out with.
Quitting a business is different from quitting a job. Business owners don't quit their business unless they sold it away after which they are not business owners anymore. A business is your baby. People don't abandon their babies. It's not a job. Quitting a business when it is still doing well doesn't make sense.

Sorry to be cynical. I find this thread a bit suspicious since TS created a nick just to start this thread. The low post counts make us suspicious.
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