EDMW Retirement Thread

[cyke69sg]

Yes talking about work. Me and my gf intend to do some airbnb + cafe biz in her hometown since its one of the popular province among locals. But i hope to promote it to foreigners to visit some day lol

Are you opening cafe and doing airbnb for the money or because you enjoy running and FNB business?

I have also tried FNB and it totally sucks both from the amount of work needed, dealing with all the people and suppliers and managing costs and the profits are dismal unless you build up an empire chain of outlets and even then not guaranteed.

FNB businesses for the most part is the wrong way to get rich and be able to retire.

 

[Wanderer123]

yes, and more can be explored
- Taman Negara
- Tasik kenyir
- Ipoh has nice cave tubing
- Kedah sidim river
- Trengganu many beautiful islands

But Thailand/Vietnam would be better.

I have done both, Thailand these days too many foreigners, kinda lost its charm n smiles, the 3mth reporting even after getting your o visa very sianz, Vietnam juz do 3mth evisa 25usd, have a break in between to visit Korea, japan, china etc juz dont overstay u are fine btw, Korea, japan n oz, u can have 3mth visa free each, so juz 3mth here n there, 1 yr gone liao.

 

[LoUsyGamER]

Thread for discussions related to retirement.

Come share what you are doing in retirement.
Food. Travels. Activities. Fitness. Health.
Also can discuss how you were able to retire. Money. Investments.

Realized there isn't really a thread in EDMW on this topic specifically.

Spend more time with family and doing housework together.

More meet up with friends, relative. Used to have a few interest groups, grew bored and left.

Pick up hobbies like pottery, carpentry, 3d scanning, 3d modelling, car repairs & maintenance, watch video, more frequent edmw to understand how male elderly thinks, strength training, diet studies.

All the make money one and survival backup plans don't need to discuss here.

 

[cyke69sg]

It's interesting that so far in this thread quite of few posts are of people who have decided to retire and spend most of their time OUTSIDE of Singapore. For various reasons. But the messaging is that Singapore is not their ideal place to spend their retirement years.

But the interesting part is that financially they are going to still be dependent on Singapore CPF HDB and other income.

Which means you are never truly free of Singapore. Psychologically I wonder if this affects people? I think it is hard to truly feel free if you dislike a particular thing or place but yet are still highly dependent on it.

 

[cyke69sg]

Spend more time with family and doing housework together.

How often you do housework?

More meet up with friends, relative. Used to have a few interest groups, grew bored and left.

Pick up hobbies like pottery, carpentry, 3d scanning, 3d modelling, car repairs & maintenance, watch video, more frequent edmw to understand how male elderly thinks, strength training, diet studies.

All the make money one and survival backup plans don't need to discuss here.

Actually why not discuss money and survival backup plans? I think it is also a very important aspect of retirement.

In some cases the activities for money and survival can be fun an interesting and be what people spend time doing.

 

[LoUsyGamER]

How often you do housework?

Actually why not discuss money and survival backup plans? I think it is also a very important aspect of retirement.

In some cases the activities for money and survival can be fun an interesting and be what people spend time doing.

Once or twice a week. Got peers ask me why I don't hire maid. First don't like strangers in my house. Second, use to be always sitting in front of com , now want to spend more time moving my limbs and house is co-owned by the family. Everyone commits to make it liveable .

 

[Heriophant]

Yeah was looking into DTV, didn't realise that they have the option of attending muay thai class lol

In that case can ask @Heriophant to be my sparring partner liao.

Seems like attend class for half a year to 1 year to get 5 years of visa? I don't know how true is that

Learn their language and go class also can get viisa. Many sinkies doing that

 

[jumpthepig]

Nowadays when I hear friends say things like "but it is very expensive in Calgary" I feel a bit strange because I no longer feel it is expensive.

Growing income passive/active all source is the key.

Eventually reach the stage can just spend and buy and do anything anytime whatever. Price is not a concern at all.

The problem is many have fixed incomes that don't grow. Even rental income is like that. Hard to increase but costs like insurance and taxes keep going up.

That’s a major milestone—hitting the point where price tags don't stress you out is real financial freedom.

I get way more joy out of a simple, easy life, and keeping things straightforward means inflation doesn't even scare me. Freedom and peace of mind beat fancy things every time.

 

[d3n]

Are you opening cafe and doing airbnb for the money or because you enjoy running and FNB business?

I have also tried FNB and it totally sucks both from the amount of work needed, dealing with all the people and suppliers and managing costs and the profits are dismal unless you build up an empire chain of outlets and even then not guaranteed.

FNB businesses for the most part is the wrong way to get rich and be able to retire.

Its more of kill time than to make money.

my gf has a few plots of land so if we were to build a house there, why leave it to just 2 of us.

last time when i was younger i always dreamt of opening a cafe then shake leg people watch. So since i cannot do it when i was younger and now. Why not during retirement.

Me and my gf also enjoy talking to people and share experiences when we travel.

so i think airbnb and cafe together is very suitable for us

 

[cyke69sg]

Once or twice a week. Got peers ask me why I don't hire maid. First don't like strangers in my house. Second, use to be always sitting in front of com , now want to spend more time moving my limbs and house is co-owned by the family. Everyone commits to make it liveable .

I share your sentiments. I have never had a maid.

 

[cyke69sg]

That’s a major milestone—hitting the point where price tags don't stress you out is real financial freedom.

I get way more joy out of a simple, easy life, and keeping things straightforward means inflation doesn't even scare me. Freedom and peace of mind beat fancy things every time.

Freedom and peace of mind and still be able to have fancy things (anytime you want) is the IDEAL.

 

[cyke69sg]

Its more of kill time than to make money.

Kill time? Please bro. Don't do it. You obviously have never run FNB before!!!!!!
There are better things to do!!!!

my gf has a few plots of land so if we were to build a house there, why leave it to just 2 of us.

last time when i was younger i always dreamt of opening a cafe then shake leg people watch. So since i cannot do it when i was younger and now. Why not during retirement.

I guess if it is your dream then should try.

But I just want to share from my own mistakes. Was my sort of toying idea I had before. Always thought those busy FNB businesses doing so well is good "easy" money. So I opened one with my wife and family.

Bad mistake. Lots of headache. Was a good learning experience for the family. But we won't be going anywhere near FNB again. And much respect to those FNB operators.

Me and my gf also enjoy talking to people and share experiences when we travel.

so i think airbnb and cafe together is very suitable for us

I guess you should try opening one then. Let us know how it goes. I wish you well.

 

[d3n]

Kill time? Please bro. Don't do it. You obviously have never run FNB before!!!!!!
There are better things to do!!!!

I guess if it is your dream then should try.

But I just want to share from my own mistakes. Was my sort of toying idea I had before. Always thought those busy FNB businesses doing so well is good "easy" money. So I opened one with my wife and family.

Bad mistake. Lots of headache. Was a good learning experience for the family. But we won't be going anywhere near FNB again. And much respect to those FNB operators.

I guess you should try opening one then. Let us know how it goes. I wish you well.

Not a big cafe haha just like selling some drinks and simple local food next to the airbnb. This one at my gf hometown.

the cafe obviously will not open for biz unless got guest booking for airbnb

the same area is also where we will be staying.

something like this but smaller scale.



a main house for us to stay, then maybe 2-3 small house for airbnb biz then a small cafe to serve the airbnb customers so they need not go out to find food.

 

[Cookie Muncher]

how much to retire

 

[Spike]

Not a big cafe haha just like selling some drinks and simple local food next to the airbnb. This one at my gf hometown.

the cafe obviously will not open for biz unless got guest booking for airbnb

the same area is also where we will be staying.

something like this but smaller scale.



a main house for us to stay, then maybe 2-3 small house for airbnb biz then a small cafe to serve the airbnb customers so they need not go out to find food.

Dude, I agree with the Airbnb idea but forget about the cafe..

It is not worth the trouble.

I have a friend who spent about $200K building a house..

 

[Kuudere]

Not everyone is like that.

Some people leave Singapore behind. Sell HDB. Forget about SG govt. Renounce SG citizenship. No CPF. No SRS.

Move to other dangerous country for good.

I willing to give up only if the country offers pension scheme for residents. Otherwise, just hold on to SG citizenship

Exactly. Need to have passive income that is double of expenses for enough buffer to make it psychologically secure.

Rule of 72. 72 divide by the yield. If it is 8% then every 10 years it doubles.

Start planning when you are young.

Have maybe 30 years of retirement planning. Find something that yields 16%

Every 5 years double.

Year	Value
0	$15,625
5	$31,250
10	$62,500
15	$125,000
20	$250,000
25	$500,000
30	$1,000,000

The power of compounding. And this is without adding any capital.

If you start with some capital, then add $15,000 at the end of every year, while the portfolio grows at a rate that doubles every 5 years (~14.87% annually), the required starting capital is much lower.

After 30 years, the annual $15,000 contributions alone would grow to about $6.49 million.

So you actually need $0 starting capital to reach $1 million.

For perspective:

Year	Approx. portfolio
1	$15,000
5	$101,000
10	$303,000
15	$707,000
18	~$1.14M
20	$1.52M
25	$3.13M
30	~$6.36M

So with $15k added every year + ~14.87% annual return, you’d cross $1 million around year 18, not year 30.


If you want, I can also calculate how much you’d have at 30 years if you start with $15,625 AND add $15k/year.

I calculated it to be around $1.37M for me, but still have many years left to go.

Learn their language and go class also can get viisa. Many sinkies doing that

I will struggle to pay attention in language class, I need to move my body one!!

 

[Spike]

i been doing photography for years.

now i into drone lol. Some of my Thailand trips.

I know your name now!

Actually I do know someone with your actual name and surname. Former army mate.

 

[Ottoke]

User @Little turtles banned in this thread for 7 days.

 

[Lao_Tiko]

Aiyo, your moniker suits u leh

I am the 天下无敌 of lao tikos

 

[cyke69sg]

Not a big cafe haha just like selling some drinks and simple local food next to the airbnb. This one at my gf hometown.

the cafe obviously will not open for biz unless got guest booking for airbnb

the same area is also where we will be staying.

something like this but smaller scale.



a main house for us to stay, then maybe 2-3 small house for airbnb biz then a small cafe to serve the airbnb customers so they need not go out to find food.

Sounds more like bed and breakfast business model. Maybe not even that scale. More akin to like when friends come to visit and you host and cook for them.

That one is much simpler. As you said something to do.

You should try it then bro!

Normal FNB biz got a lot more headaches.