Early retirement - 500k or 5M

[trevallyo]

Why do youngsters nowadays have the perception of older people work just because of mortgages?
The easiest way then might as well as buying a 2-room flat then they would be 'financial free' & 'retire early'. Lol

Firstly, I never said "older" people.. you assumed it yourself.

Your "easiest" way is not achievable for many of us for obvious reason..surely you dont need me to spell it our for you right ?

 

[Dividends Warrior]

Why do people feel the need to tell others how to live the 'right' life? It's like there is a perfect blueprint of life out there. Step 1, do this. Step 2, do that.
No, cannot skip step 3. Die die must complete step 3 before moving onto step 4.
Whatever happened to freedom of choice? Hahaha!
IMO the most important thing is to take full responsibility for your own life choices. As long as it is not something illegal and dun hurt others. I have seen so many examples of people making irresponsible life choices that affect their loved ones.
My cousin has 2 young sons, 5 & 2. She wanted to try for a 3rd, hoping for a daughter. Now, they are struggling financially. Apparently they did not do any prior planning. My retired uncle has to return to work to help out. He was so angry. Thought can finally enjoy golden years, now need to support grandchildren in his 70s.
Oh, in case u r wondering, the 3rd baby turned out to be a son again! *Face palmed*

 

[highsulphur]

Why do people feel the need to tell others how to live the 'right' life? It's like there is a perfect blueprint of life out there. Step 1, do this. Step 2, do that.
No, cannot skip step 3. Die die must complete step 3 before moving onto step 4.
Whatever happened to freedom of choice? Hahaha!
IMO the most important thing is to take full responsibility for your own life choices. As long as it is not something illegal and dun hurt others. I have seen so many examples of people making irresponsible life choices that affect their loved ones.
My cousin has 2 young sons, 5 & 2. She wanted to try for a 3rd, hoping for a daughter. Now, they are struggling financially. Apparently they did not do any prior planning. My retired uncle has to return to work to help out. He was so angry. Thought can finally enjoy golden years, now need to support grandchildren in his 70s.
Oh, in case u r wondering, the 3rd baby turned out to be a son again! *Face palmed*

Why must he go back to work to help out? Its the parent's responsibility to take care of their children. Not the grandparents. As long as they are not starving, i don't see why must he sacrifice his retirement.

 

[Maeda_Toshiie]

No need to go pulau ubin lah, malaysia and thailand just nearby, a lot of ang mos retire in these south east asian countries too.

I agree that Singapore is not really a place where anyone can FIRE easily, its like trying to FIRE in NYC, only very rich people can do that comfortably.

If you want to move to a nearby country for lower costs, Philippines is a good choice given that the number of English speakers is likely to be higher while offering possibly even lower living costs than Thailand or Malaysia. Philippines also offer easy to get visas for retirees.

Now the problem is that you need to move to a society that you have not grown up in, and not likely to have spent any significant amount of time living in (unless you have worked there or was born there before moving to Singapore at some point in time). Some Singaporeans can adjust and have adjusted (congratulations, you achieved successful geographic arbitrage), but many find it difficult to. Again, if you are new to the place, your friends and family are hundreds or thousands of miles away (OK, some of you might not care about them). If your spouse is native, it is easier to adapt.

Still, making such a move is quite a big leap, and you need to have backup plans if things don't work out as planned. If you decide to back out, you need to figure out how to move back to Singapore.

 

[d5dude]

If you want to move to a nearby country for lower costs, Philippines is a good choice given that the number of English speakers is likely to be higher while offering possibly even lower living costs than Thailand or Malaysia. Philippines also offer easy to get visas for retirees.

Now the problem is that you need to move to a society that you have not grown up in, and not likely to have spent any significant amount of time living in (unless you have worked there or was born there before moving to Singapore at some point in time). Some Singaporeans can adjust and have adjusted (congratulations, you achieved successful geographic arbitrage), but many find it difficult to. Again, if you are new to the place, your friends and family are hundreds or thousands of miles away (OK, some of you might not care about them). If your wife is native, it is easier to adapt.

Still, making such a move is quite a big leap, and you need to have backup plans if things don't work out as planned. If you decide to back out, you need to figure out how to move back to Singapore.

Philippines is too far, culture and food also too different. Most singaporeans I know retire in malaysia, easy to come back to singapore, food and culture also not too different.

 

[OngHuatHuat]

Yes malaysia is so much better

Philippines is too far, culture and food also too different. Most singaporeans I know retire in malaysia, easy to come back to singapore, food and culture also not too different.

 

[cubana]

Do you look down on people who retire early?

nope. if there own life so I dont care.