EDMW Retirement Thread

[Little turtles]

Learn to take the hard truths

 

[cyke69sg]

i never say i retiring in BKK.

we are talking about COL, if u can have lower COL, why not? like i say, SGD burn faster in SG than in BKK, unless you are very well off, you probably have to work till 60s non stop.

the idea is to retire earlier, stop slogging till 60s and enjoy lower COL instead of someday have to pick cardboards on the street.

i already explain, its not difficult to learn Thai language, if you know hanyu pinying.

if you are not staying in BKK, congestion is not an issue.

all asian countries are hot and humid, northern thailand have very cool weather. Even northern vietnam have cool weathers.

anyway u scare this and that, you stay in SG sua, i will be chilling after 55 years old and see you still complaining why 60s still working.

sinkies is very funny, always worry and think this way:

- must top up to hit ERS
- scare old liao not enough money, work and working until dunno when stop
- keep complaining things getting expensive
- too brain washed by SG gov that sg is safe / clean heaven
- blah blah blah

so when will you ever retire? 70? 75? by then whats the joy? when u cannot do most of the things already. Give u so much money every month, how will you spent it? See doc and get medication?

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.

 

[d3n]

Learn to take the hard truths

Nah i know the hard truth. And aren’t afraid of the hard truth.

only people like you scare this and that eventually die regretting in singapore lol

 

[d3n]

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.

Yes only people like @Little turtles scare this scare that never make that adventurous step than 20 years down the road still behind monitor cursing and swearing

the exact type of population PAP need (like mice running non stop in the wheel) to continue to work till 73 paying taxes to the government.

 

[Little turtles]

Do you have a choice??????
Lol

 

[luei74]

Faster tune in to Mewawtch nao for the 2nd leg of Hyundai cup, playing at Thai.....TMM very sweet in smiling

 

[Kuudere]

yes, either elite visa or DTV (provided if u have remote work or attend some courses in Thailand) if u want to go earlier.

@Little turtles will stay in SG since he feel SG is the safest, cleanest, less jam, not worry about $6-8 meals (maybe $20 next time in another 15-20 years) in future, zero weed (funny this reason - not like asking u to take weeds lol), non polluted streets.

for me, these concerns to me is minor as compared to better quality of lifestyle in Thailand then in SG. Don't need to work for others is already an upgrade in lifestyle.

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

 

[cyke69sg]

All good, bro! I'm living so comfortably below my means that even a 100-year storm won't touch me

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.

 

[d3n]

Do you have a choice??????
Lol

Choice is ownself make not government make for you. But scaredy cat like you will believe there is no choice but to stay in singapore

 

[Little turtles]

You are so fun. Dun get high blood pressure ok.
And dun pull your hair out.

 

[cyke69sg]

My target is on 55 too, problem is hard to have a consistent passive income from 55-65, if reallee leetire on 55...

That's essential to be able to feel that complete freedom and confidence.
Ideally have consistent passive income that us double of what you need. So that even if there is a financial crisis still can cover. Triple. Quadruple. Even better. Or at least still aiming and working the investments to double the income every so many years. Use rule of 72.

Plus have optionality with ad hoc part-time work that also covers several multiples of your monthly expenses.

This way is the diamond hard assurance you are financially good for retirement.

 

[d3n]

You are so fun. Dun get high blood pressure ok.
And dun pull your hair out.

Why get high pressure? I don’t need to get high pressure over forum post. I find it shiok for ppl like u to keep replying to me lol for me i can go on and on and on.

just ask @ManOfTheHour , see who surrender first and ignore me lol

 

[d3n]

That's essential to be able to feel that complete freedom and confidence.
Ideally have consistent passive income that us double of what you need. So that even if there is a financial crisis still can cover. Triple. Quadruple. Even better. Or at least still aiming and working the investments to double the income every so many years. Use rule of 72.

Plus have optionality with ad hoc part-time work that also covers several multiples of your monthly expenses.

This way is the diamond hard assurance you are financially good for retirement.

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

 

[Little turtles]

I can feel lots of anger in you.
Relax.
Breathe in breathe out
Do 5bx
Dun collapse

 

[d3n]

I can feel lots of anger in you.
Relax.
Breathe in breathe out
Do 5bx
Dun collapse

Nah. I watch kdrama. Very relax

 

[cyke69sg]

Hate to pour cold water.

We had a fantastic long bull run, and may continue a few more years perhaps. It might give an illusion that your portfolio is growing faster than you consumed.

If your portfolio is half now, passive income also half, how will it be? Still very comfortable with daily expenses? Then OK..

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.

 

[cyke69sg]

dats why i dun put all money into investments... prefer cash on hand. still the king.

Totally agree. I hold 7 figures cash for peace of mind and optionality.
People say I stupid to leave investment return on the table by not investing the cash and just earning lower interest. But it's a psychological game.

I built up my cash first. Then I invested everything else into stocks. But I don't have to worry about the stocks anymore.

 

[cyke69sg]

i don’t know. Over the years, I tried fishing, cooking, golf, pickleball, Pokemon, gaming. Nowadays it’s just work go home acc my kids. Sometimes at night I just go to the coffeeshop and sit scrolling my phone until I have nothing to scroll.

Anything you enjoy?

 

[Wanderer123]

If I were younger, I'd pick Danang > China Beach FTW!

Fly Bikini Airline to Danang to watch bikini babes on China Beach .... Fuiyooooooooooooh

Aiyo, your moniker suits u leh

 

[cyke69sg]

Yes only people like @Little turtles scare this scare that never make that adventurous step than 20 years down the road still behind monitor cursing and swearing

the exact type of population PAP need (like mice running non stop in the wheel) to continue to work till 73 paying taxes to the government.

It is not just Singapore and Singaporeans.
Majority of people around the world are like that.

Actually the key to retirement is to work out the financial numbers first.

Broad concept is to approach it various angles. Either make or grow enough money to cover expenses (my preferred) or to think of how to lower costs to fit the income at present/predicted.

I find the latter is psychologically not always a positive process for everyone. It depends.

The former however is always liberating when successful in that endeavor.