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.

[Mr Duck]

Why Thailand?
have you ask your wife and children?
your children learn thai?
study international school In thai?

Sorry i one old man only.

 

[Forever84]

When I was young I also suka suka spend money accumulate debt like to fake it till make it, now feeling the pinch because of all the impulse decisions made in the past. Do I regret it? No. Did I learn from it? Yes. So long as conscience clear, at night can sleep good eat good you don't need worry too much about anything else.

This is an example of poor money management

 

[tankgunner]

he is jin satki

 

[thretiredDad]

When I was young I also suka suka spend money accumulate debt like to fake it till make it, now feeling the pinch because of all the impulse decisions made in the past. Do I regret it? No. Did I learn from it? Yes. So long as conscience clear, at night can sleep good eat good you don't need worry too much about anything else.

When i was young
i was saving aggressively
i felt i missed a lot of fun

 

[WifeEnjoyer]

This is an example of poor money management

I dare say now younger generation more fast and furious with money than me back then.

 

[benedium]

I can't imagine a life where you have never lived in private property, owned a car, have credit cards and have the means to pay and be debt free.....TS is not the average Singaporean but a low SES one with low goals in life, when you set the goal post low, you are definitely able to clear it....but what a loser lifestyle.

Only if u like always being in competition with others. And even if u think u are winner, someone else better thinks u loser too. Right? So why bother?

 

[Vulpix]

credit card is good debt if you know how to use it

The thing is I don't even have any special rules. I just make sure I don't spend more than the required amount for max rebates, don't spend more than my salary, so far so good. Not a financial expert or anything. Still got lots of rebates.

 

[blurwulf]

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

Wah he is my idol.

 

[xiaosinsinful]

Life is short.

If you think not spending anything when you’re able to walk, have energy and focus is great then so be it lo

For me I rather spend $10k today to travel then to spend $10k to travel when I retired

Hard to balance unless you earning 100-200kPA type

will you spend 10k today to travel if you earning 3k type? Maybe doable if you still single

next, that 10k you spend today is worth alot more in 30 years. Meaning you can retire earlier/in more comfort

 

[benedium]

Hard to balance unless you earning 100-200kPA type

will you spend 10k today to travel if you earning 3k type? Maybe doable if you still single

next, that 10k you spend today is worth alot more in 30 years. Meaning you can retire earlier/in more comfort

Maybe first have to define where our personal comfort line is in the future. But most likely inaccurate cos alot can change in the future including ourselves. Moral of the story is don't need to think so much.

 

[Ch3tah_39]

brainwashed to pay and pay, vote and vote

Lol dont pay fof place to stay, food, electricity, water bill etc then what?

Ah can stay with parent , hoping they just change name and give it to you? Or alot ppl also will buy but rent whole flat out and stay with parent? Rental 100% keep not bad idea

 

[xiaosinsinful]

Maybe first have to define where our personal comfort line is in the future. But most likely inaccurate cos alot can change in the future including ourselves. Moral of the story is don't need to think so much.

“No need to think so much”

ok , I know in 30-40 years time who will be the one pickup cardboard at the side of the road already.

don’t complain it’s Govt fault

 

[benedium]

“No need to think so much”

ok , I know in 30-40 years time who will be the one pickup cardboard at the side of the road already.

don’t complain it’s Govt fault

Exercise is good for u hehe.

 

[hachi]

When i was young
i was saving aggressively
i felt i missed a lot of fun

Must be a balance... Don't keep saving miss the fun. During my younger days. I like to ride superbike.

Yes a brand new one is always nice. Doesn't it mean I miss the fun if I bought 2nd hand. No, still able to 299kph on the straight at less than 50% cost.

 

[kage]

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

Why not buy a resale 4rm hdb for maybe $400k

I am sure he have CPF OA, maybe $50K and put $250k on the house and take just $100k loan. $50k cash as emergency fund or continue invest for dividend.

Estimated Loan Amount : $100,000
Repayment Period (In Years) : 25
Interest Rate of Loan : 2.60%

The estimated monthly instalment^ for your loan is $454

Rent out 1 common and master rooms for $1800 before MOP and $2500/mth after MOP. Way better then his $500/mth now.

Alternatively, he and parents move to his resale HDB and rent out parents whole house no need wait MOP.

He will have $1300 before MOP and $2000 after MOP rental cash to spend after monthly mortgage.

 

[questsohai]

Life will be at a standstill all we think about is property or car fully paid, no debts & money in the bank

 

[windwaver]

CC can be made to good use.

Got to be self discipline in life anyway.

 

[PongRareRare]

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.

Not everyone wants to spend lavishly. Some retire to have time to do what they want. It may not be some expensive stuff. Just have time for him to explore his hobby like art or music?

 

[PARKRANGER]

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

Jialat this guy never plan for any headwinds in the future

Currently he thinks enough
What if his parents need medical assistance
Waste his life doing nothing like live to eat or gaming

 

[xiaosinsinful]

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.

his type of retirement $500/month can it really be called “retirement”?

what type of retirement would that be?
Everyday eat cai png with 1 veg?
no overseas holiday
no entertainment or budget for anything discretionary

why would you even consider retirement if you are constantly worrying about running out of money?