I am an average sinkie. I don't own a car. HDB fully paid. I don't have credit cards. I have cash and I am happy. Cos I am debt free.

Boymoder

Boymoder

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richmumpoordad said:
Is he EDMW role model?
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just my 2c but its good to have debt such as mortgage debt allows you to build more wealth and compound wealth earlier & faster. Most low interest non callable debt are pretty good. As far as car wise I agree with him.

richmumpoordad said:
I know a bbfa in his mid 30
Accumulated a $300,000 portfolio
with annual dividend of 3.5%
control his spending to $500 each month
And proudly declared he has retired
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when I started investing when I was 17 in jc this was kind of my goal as well, working, saving, investing sort of became my hobby/life . When I was around 20 late last year I had accumulated about 100k but at the same time I still felt empty, Honestly the depression started setting in and I started asking myself if this goal really made me happy. I realized there are other goals more important to me than gaining wealth and retiring early (I thought retiring in 30s and playing video games/watching anime would make me happy). But I realized I didn't care about that and there were other things that would make me happy like being myself, finding a partner and settling down. It would be nice to retire early but for me its no longer a priority in my life. I find myself focusing on improving myself starting late last year. Basic things like hygiene, skincare, eating healthier, exercise and mental health.
 
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Debt free is good, but If got wife and kids, it means high ongoing expenses which can’t be cut down, and also possibility of future debt.
 
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Sammychan

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Retirement is overrated. The quality of life matters. If you retired and need to take bus or ride scooter..what's the point. That's not the point of retirement. Eventhough you managed to retire but you have FAILED to achieve a high quality of living. It's not the destination but the quality of the ride. If you cannot spend lavishly and have a good time in retirement, you have reached the destination without much purpose.
 
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bluerhino

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Sammychan said:
Retirement is overrated. The quality of life matters. If you retired and need to take bus or ride scooter..what's the point. That's not the point of retirement. Eventhough you managed to retire but you have FAILED to achieve a high quality of living. It's not the destination but the quality of the ride. If you cannot spend lavishly and have a good time in retirement, you have reached the destination without much purpose.
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How about people who scrimp and live like miser so that they can live lavishly during retirement? These are missing the point more than those who live budget lifestyles in retirement. I’d rather spend and enjoy life while I still can instead of waiting till retirement when my knees are weak and cholesterol high. Even if you have money then you’ll have limited energy to travel and have to watch what you eat?
 
Zinna

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Same for moi but moi living parents house how?
 
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Caterpillars

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He can do so because he lives in with his parents and don't need to pay expenses related to a house. On top of that, he does not need to pay for his parents too. In a way, his parents are subsidising him so that he can retire. This is a mix of leeching on parents and not true retirement.
 
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Sammychan

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bluerhino said:
How about people who scrimp and live like miser so that they can live lavishly during retirement? These are missing the point more than those who live budget lifestyles in retirement. I’d rather spend and enjoy life while I still can instead of waiting till retirement when my knees are weak and cholesterol high. Even if you have money then you’ll have limited energy to travel and have to watch what you eat?
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Well I can't decide for them how they want to enjoy their life. Whether now or to delay the enjoyment is personal choices but life should be about living to the fullest, to do the things you enjoy doing. The buy the things you like. To go to where you want to go. To eat what you want to eat. All these translate to one thing - to live the way you want WITHOUT RESTRICTION. If you are retired but with lots of restrictions I'm afraid to say you have not made it but yet 'calling it quits'? Lol. If you retired and can take a holiday every month and drives a bmw around then I say good job! If you are retired but have spending limits then good for you but sorry I don't think that's what everyone should aspire to be at.
 
thretiredDad

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bluerhino said:
How about people who scrimp and live like miser so that they can live lavishly during retirement? These are missing the point more than those who live budget lifestyles in retirement. I’d rather spend and enjoy life while I still can instead of waiting till retirement when my knees are weak and cholesterol high. Even if you have money then you’ll have limited energy to travel and have to watch what you eat?
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How to live lavishly during retirement?
 
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