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Unemployed and thinking of retirement

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Old 23-05-2020, 08:01 PM   #151
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dont have to give parents allowance?
They never ask for allowance as they have savings already. Only gave them lump sum for bills of about $30k ..
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Old 23-05-2020, 08:04 PM   #152
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Bro, need to consider taking care of parents when they are old.

Really need a lot of $$. An ex colleague of mine easily spent 6 figure just on her father alone.
I think it depends ..
I had a friend whose father went into coma , stayed in hospital and passed away but paid fully by medishield life ..
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Old 23-05-2020, 08:25 PM   #153
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I think it depends ..
I had a friend whose father went into coma , stayed in hospital and passed away but paid fully by medishield life ..
Your mindset is already fixed and your decision has already been made.

Why ask here then?
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Old 23-05-2020, 08:29 PM   #154
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They never ask for allowance as they have savings already. Only gave them lump sum for bills of about $30k ..
Thank god. I tot u paid the lump sum straight to sp.
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Old 23-05-2020, 08:42 PM   #155
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Your mindset is already fixed and your decision has already been made.

Why ask here then?
Just want to get opinions and advise if it is too early to retire
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Old 23-05-2020, 09:14 PM   #156
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since you don't need extra $ anymore, just work and use the salary to gamble/invest, aim for $3m. Now market is volatile, best time to try ur luck
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Old 23-05-2020, 09:49 PM   #157
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looking at how this thread has exploded to 10 pages already, if TS starts a blog, there will be many hits from fans and haters. his adsense revenue will be a 2nd stream of passivve income
I'm not TS but I feel like sharing with others my personal experiences and my attitude towards money and materialism as a way of life that helps manage your finances better. Does people still read blogs nowadays? What's the best way to share? Even though I'm not very articulate, i think there are some stories to be told.
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Old 23-05-2020, 09:59 PM   #158
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I dun read blog anymore. Even for my fav dividend warrior's.
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Old 23-05-2020, 10:15 PM   #159
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It's not so important how much you earn, but rather how much you spend. Congrats on being able to spend so little and see little need to spend more.

Like you, I'm retiring this year. Like you, I'm around same age as you. A lot of people told me I'm too young to retire but I figured why live my life according to how people expect of me? Getting too sick of my industry so needed to get out. Will spend time to focus on family, health, spirituality... If in the future, there are other interesting stuff to be done, then yeah why not? To retire gives you time to explore other options that would otherwise be unavailable if you're stuck in your old lifestyle.
Your parents have their own savings too ?
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Old 23-05-2020, 10:30 PM   #160
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I dun read blog anymore. Even for my fav dividend warrior's.
haha yeah I figured in today's world, no one has time to read blogs anymore... I also don't read blogs...
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Old 23-05-2020, 10:31 PM   #161
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Your parents have their own savings too ?
Nope, my parents don't have much savings but it's OK I can take care... they also don't need much
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Old 23-05-2020, 11:22 PM   #162
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Based on this article, many slog until into their ripe old age is also unable to have sufficient for retirement mayb because they have higher needs and commitment.

https://sg.finance.yahoo.com/news/ne...070125246.html

I do agree if one has lesser need. One can retire much earlier.

It seems to me TS has already more or less make up his mind? Mayb the way forward is to try out 6 months. Mayb after 6 month to a year all the reasons of why it is a good / bad idea to do so will pop up. Then You can update us here?
Already about 6 months already since virus outbreak .. That is why I calculated my expenses and lifestyle .. As an introvert, I can get used to it ..
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Old 23-05-2020, 11:52 PM   #163
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Already about 6 months already since virus outbreak .. That is why I calculated my expenses and lifestyle .. As an introvert, I can get used to it ..
Then u should just go ahead. Afterall this period even if u try to find job. It won't be so easy anyway. My as well just rest for another 6 months when economy recovers then relook if u want to go back to workforce. Personally i have seen a friend around me also stop working since 30s. But his position is worse than you as he has got no savings nothing. He really lives day to day down to basic. Reason for being out of workforce is similar to yours. He wanted a break away from politics and he pursue simplicity. Contrary to many ppl's view ( which we often think they are the lot who has more time), instead he often tells us he is very busy as he has already planned his all day time table well. He is lucky to have family support. Whereas for u. You more or less already know what you want. All the best to your decision.

One thing for sure. U can always change your direction along the way. Mayb being at ease, u will discover new interest that may lead u into an enjoyable future career later on. Nothing is impossible 😊
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Old Yesterday, 12:34 AM   #164
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I think it is better for TS to have a conversation with his parents on his plans to clarify:

1) while it is his life, how does the parent feel about him with no income, given he is still sharing the house with them.

2) confirm that there is no expectation that he has to contribute money in the future


The thing about old people is they are seldom communicative about what they expect or want. They just assume you know or are too paiseh to ask.

As for whether he has enough to retire, he seems to have thought through carefully, so it is not fair to apply our own yardstick of what is considered enough.

That said, at his rate of savings, I thought it might make more sense to reach 500k first. It will probably take 4 to 5 yrs. The assumptions are based on everything sails smoothly like today. If anything, covid19 makes it clear that unexpected events are likely to be more common.
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Last edited by koxinga; Yesterday at 12:41 AM..
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Old Yesterday, 04:54 AM   #165
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I'm not TS but I feel like sharing with others my personal experiences and my attitude towards money and materialism as a way of life that helps manage your finances better. Does people still read blogs nowadays? What's the best way to share? Even though I'm not very articulate, i think there are some stories to be told.
Please share. Maybe you can start a new thread so people can also ask questions too.
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