Do you over invest?

[60Remajust]

after retirement, going on overseas holidays while still healthy is for me is one of my FIRE goals.

While I got not much interest in buying more 'stuff', buying 'experiences' is something that still interests me. I want to run some of the more famous international half marathons (I think full marathon is out of reach for me) and that will cost money. business class lie flat seat is also important as I want to minimise jet lag on arrival so I can do my preparatory workouts the day I touch down. For Sydney half-marathon I also got the option of suites as long as A380 is in service....

u are willing to pay $ instead of miles for business seats?

whats your passive annual?

even if i had the cash I don't think I can bear to pay for these seats so im very curios

 

[DevilPlate]

u are willing to pay $ instead of miles for business seats?

whats your passive annual?

even if i had the cash I don't think I can bear to pay for these seats so im very curios

Ya lor….i will never for long trip biz class cabin out of my own pocket….simi jet lag….at most nua in the hotel for 1 more night also cheaper what whahahaha

*Unless i strike Toto 2M….i will splurge my whole family on biz class js for the experience whahahaha

 

[60Remajust]

Ya lor….i will never for long trip biz class cabin out of my own pocket….simi jet lag….at most nua in the hotel for 1 more night also cheaper what whahahaha

*Unless i strike Toto 2M….i will splurge my whole family on biz class js for the experience whahahaha

if a doctor tells me i have X year/mths to live then yes ill do it

 

[DevilPlate]

if a doctor tells me i have X year/mths to live then yes ill do it

I also wun leh, i will splurge on my family and good frens

 

[revhappy]

Ya lor….i will never for long trip biz class cabin out of my own pocket….simi jet lag….at most nua in the hotel for 1 more night also cheaper what whahahaha

*Unless i strike Toto 2M….i will splurge my whole family on biz class js for the experience whahahaha

If you think about it; excess amounts of money which you accumulate, either can be spent on things or experiences which many people may think it is waste, but then it is excess money, so anyways you spend it, it will feel like a waste to a lot of people.

What would be the other alternative? Not earning that excess money at all, by retiring early or by giving that excess money as inheritance or charity.

Anyways, I feel, financial independence is about mainly focussing about funding of core expenses throughout lifetime and also some discretionary spending throughout lifetime. Beyond that people who are fortunate enough to accumulate excess savings, can do anything with it, there are no rules, everything is game.

 

[fr33d0m]

when time or place of interest is not a major issue, there are plenty of cheap enough business class tickets.

e.g. you can visit Egypt for less than SGD 2000 in lie-flat biz class per person, around 2x economy ticket price.

and from Egypt, you can travel eco to many places in middle east, Africa or some part of Europe

 

[limster]

If you think about it; excess amounts of money which you accumulate, either can be spent on things or experiences which many people may think it is waste, but then it is excess money, so anyways you spend it, it will feel like a waste to a lot of people.

u are willing to pay $ instead of miles for business seats?

whats your passive annual?

even if i had the cash I don't think I can bear to pay for these seats so im very curios

I achieved financial independence in 2021 but I am still working.

Anyone who continues working after achieving FI will have salary as 'excess cash' to spend since the investment portfolio is enough to support paying for your lifestyle without a salary.

I believe its good to give some to charity and I do so regularly. I am also planning to do more charity work after I retire, but at the end of the day, I still have excess to spend because I continue to earn a salary after FI.

Any suggestions what to spend on, if not spending on holidays/air travel?

 

[DevilPlate]

I achieved financial independence in 2021 but I am still working.

Anyone who continues working after achieving FI will have salary as 'excess cash' to spend since the investment portfolio is enough to support paying for your lifestyle without a salary.

I believe its good to give some to charity and I do so regularly. I am also planning to do more charity work after I retire, but at the end of the day, I still have excess to spend because I continue to earn a salary after FI.

Any suggestions what to spend on, if not spending on holidays/air travel?

spending on yr family, relatives and best frens that u value/care

I derive happiness when i see others are happy too

 

[BBCWatcher]

I am not sure if it will be allowed. Our company has very strict rules about international remote (max 1 month a year) and for someone who has made up his mind to leave the company, I dont think they will make any exception.

At least you should be able to get that month, right?

It is very rare that people would resign to retire early. So I am going to tell him, if he can offer me some options to work from home from India, I might consider taking it up. Although, it is unheard of, of anyone getting this option.

You could tell him the truth, that your child is ready for the next phase of her education — outside Singapore. And since it's a known event you're providing longer advance notice as a courtesy. And that you're open in principle to flexible arrangements.

Sure, they might not agree. But giving them every reasonable opportunity might work.

 

[highsulphur]

I am not sure if it will be allowed. Our company has very strict rules about international remote (max 1 month a year) and for someone who has made up his mind to leave the company, I dont think they will make any exception.

My company doesnt have any presence in India. However, they have outsourced to IT partners, but even those IT partners are in different city from where I am going.

Basically, while resigning I am going to tell my boss, my plan is not to quit for a better salary or a better role in another company; like most people resign, like 90% people resign inorder to jump to another company.

It is very rare that people would resign to retire early. So I am going to tell him, if he can offer me some options to work from home from India, I might consider taking it up. Although, it is unheard of, of anyone getting this option.

Infact, there is a Malaysian working in our company and he travels daily in and out from JB. All of us, work in office only 3 days a week, but this Malaysian has to come to office 5 days a week, because international remote is not allowed.

So, I dont think they will make any exception in my case, my base case is I resign and go, but I will put the ball in the court of my boss to see if I can get any options.

Actually, it is not that my role is very critical, but the stuff that I do, I really take care of lot of things and my boss doesnt have to worry about them. But if I leave, he will have to find a replacement, who may not be as keen in taking the same level of ownership that I do.

But then we never know, we all overestimate our worth in the team. We think if we leave, the team will scramble and will have a hard time. But that rarely happens, I have seen so many much more important and established people leave and my company didnt give a damn, they were all told by our department head "I am happy for you". So I dont expect anything different.

Yeah. No one is irreplaceable. Do you need to prepare anything in your home country before going back

 

[sohguanh]

But then we never know, we all overestimate our worth in the team. We think if we leave, the team will scramble and will have a hard time. But that rarely happens, I have seen so many much more important and established people leave and my company didnt give a damn, they were all told by our department head "I am happy for you". So I dont expect anything different

Any companies alive and kicking will never ever be held ransom by employees leaving this I am quite sure and experienced in my entire working career. For those that unintentionally allow it to happen that company don't last long soon close shop.

 

[revhappy]

Yeah. No one is irreplaceable. Do you need to prepare anything in your home country before going back

Nothing much, my parents live in the same city. We plan to rent nearby or buy a house. We need to finalise the school for my daughter. Other than that nothing much to worry about.

 

[60Remajust]

I achieved financial independence in 2021 but I am still working.

Anyone who continues working after achieving FI will have salary as 'excess cash' to spend since the investment portfolio is enough to support paying for your lifestyle without a salary.

I believe its good to give some to charity and I do so regularly. I am also planning to do more charity work after I retire, but at the end of the day, I still have excess to spend because I continue to earn a salary after FI.

Any suggestions what to spend on, if not spending on holidays/air travel?

im also looking at suggestions too. Not that I reach your level of FI yet.

buying higher quality food for home, like organic etc. Trying out all Michelin restaurants local and overseas.

 

[highsulphur]

im also looking at suggestions too. Not that I reach your level of FI yet.

buying higher quality food for home, like organic etc. Trying out all Michelin restaurants local and overseas.

learning how to spend more money is actually more difficult than it seems.

 

[60Remajust]

learning how to spend more money is actually more difficult than it seems.

yes. I think the very character that allows someone to acquire that level of wealth runs contrast to someone that is able to spend frivolously.

I think I read somewhere that there are generally 2 kinds of ppl those that feel good when they save and another when they spend. U can guess which one tends to be millionaires.

 

[limster]

spending on yr family, relatives and best frens that u value/care

I derive happiness when i see others are happy too

this is actually quite tricky so I would appreciate some tips how to do this.

Throwing money at frens I feel a bit awkward if they feel pressured to reciprocate.

Those that are wealthier than me, will definitely try to reciprocate and end up giving me stuff I don't need. I got wine collecting friend trying to give me unwanted bottles to make space for new stuff. If I give him stuff, I am probably obliged to accept the wine which I don't drink.

Those that are less fortunate than me, is it also awkward to throw gifts at them every month? Can share your experience?

My parents no problem. In addition to the usual pocket money, happy to pay for their holidays, Because of their age, they travel with their group of equally elderly friends, and they only travel to Malaysia and enjoy the company of friends. Not as if I have to buy them sq suites to sydney every quarter.

 

[DevilPlate]

this is actually quite tricky so I would appreciate some tips how to do this.

Throwing money at frens I feel a bit awkward if they feel pressured to reciprocate.

Those that are wealthier than me, will definitely try to reciprocate and end up giving me stuff I don't need. I got wine collecting friend trying to give me unwanted bottles to make space for new stuff. If I give him stuff, I am probably obliged to accept the wine which I don't drink.

Those that are less fortunate than me, is it also awkward to throw gifts at them every month? Can share your experience?

My parents no problem. In addition to the usual pocket money, happy to pay for their holidays, Because of their age, they travel with their group of equally elderly friends, and they only travel to Malaysia and enjoy the company of friends. Not as if I have to buy them sq suites to sydney every quarter.

for friends, can treat them makan when u ask them out.
Or sometimes i come across nice food or famous cakes/snacks i will buy for a few families and deliver to them.

recently for eg. I hire 2 vehicles go JB day trip makan plus durian feast for family/relatives and frens.
Good gathering

 

[revhappy]

At least you should be able to get that month, right?

You could tell him the truth, that your child is ready for the next phase of her education — outside Singapore. And since it's a known event you're providing longer advance notice as a courtesy. And that you're open in principle to flexible arrangements.

Sure, they might not agree. But giving them every reasonable opportunity might work.

Thanks for the advice. If I give too much of a notice period(like 6 months) then I am pretty sure my manager will make me document everything I do, he is very insecure, and he will make me do a lot of sessions with lot of team mates to transition all my knowledge.

The funny thing is my manager was pushing me for promotion, which leads to about 10% hike, not much. But the bad part, after getting promoted to VP, my notice period becomes 3 months instead of current 1 month. So if I wait for the bonus(which is 1.5 months salary), then I will have to give 3 months notice and totally screw up my timing.

So I am planning to decline the promotion, which may send out red flags. But I will justify that I like to leave at sharp 5pm and don't want to take additional responsibilities. It is going to be a weird conversation, lol. The promotion nominations happen sometime in early October.

 

[highsulphur]

Thanks for the advice. If I give too much of a notice period(like 6 months) then I am pretty sure my manager will make me document everything I do, he is very insecure, and he will make me do a lot of sessions with lot of team mates to transition all my knowledge.

The funny thing is my manager was pushing me for promotion, which leads to about 10% hike, not much. But the bad part, after getting promoted to VP, my notice period becomes 3 months instead of current 1 month. So if I wait for the bonus(which is 1.5 months salary), then I will have to give 3 months notice and totally screw up my timing.

So I am planning to decline the promotion, which may send out red flags. But I will justify that I like to leave at sharp 5pm and don't want to take additional responsibilities. It is going to be a weird conversation, lol. The promotion nominations happen sometime in early October.

what is your current rank/ title?

 

[revhappy]

what is your current rank/ title?

AVP