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.

[wisewise]

Money spent are truly yours….. money sitting in the bank aren’t.

 

[Scarlet Tea]

An average sinkie have credit cards and variety of debts. Cars about 50/50.

 

[아지 and 아쁘리앙]

Ya I am like him lor
Every month no huan lo one, anytime can bring waifu overseas or makan restoran.

 

[Scarlet Tea]

500 spending every month…… he is best off not living.

Some ppl are contented by just living to die. A lot of boomers are like that what.

 

[Firstclass1188]

I have hdb, I have car, I have credit cards, I have cash and I'm debt free.
So.... what's the point?

You don't have condo.

 

[satayxp]

credit card is useful, shld at least get 1

 

[BuibuiForever]

HDB fully paid?

is it from inheritance?

 

[Cokacola]

Recession coming, good to have less liability

 

[Forever84]

Recession coming, good to have less liability

Recession is always coming

Every one will go through 3-4 recessions in their life time

So what’s your point?

You can choose to live in abundance or live in lack

 

[mewmew]

Hyperinflation? Is it a new term that is loosely use? But can be kind and share what to look out for an how to reduce the risk? Tank kew..

Ah, cause everything also pay and pay ma so just wondering how not to pay if a roof over head is somewhat like "necessity". Tank kew

the previous gen hu profited much from the inflated housing price can help out a bit

staying together and renting out extra house or rooms may not be a bad thing and can ease the load

of cos if a able person ish still a free loader at 30yr then that's unacceptable

 

[Sammychan]

It is cheaper to take grab and gojek
instead of buying a car

Sorry i like to drive myself.

 

[Sammychan]

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?

Knew this type of argument will come up. I wrote so much you pick and chose your battle? I mentioned ultimately QUALITY OF LIFE. I was merely listing some examples of what quality of life is about to some. And btw you can explore art or music before/without retiring.

 

[tellim]

He has retired
No job
stay with parent home and play game everyday

If I'm your fren, I will do some higher paying part time job to supplement my allowance and to keep my sanity.

 

[Sammychan]

For that bbfa, to "retire" early means he can choose what he likes to do, in this case playing games with freedom. For him, its quite good quality of living.

You can play games with freedom anytime. No need to do after retirement?

 

[thretiredDad]

Recession is always coming

Every one will go through 3-4 recessions in their life time

So what’s your point?

You can choose to live in abundance or live in lack

10 years 1 cycle
they prudent living for 9 years to prepare for that 1 year
How many 9 years they have?

 

[thretiredDad]

If I'm your fren, I will do some higher paying part time job to supplement my allowance and to keep my sanity.

Food delivery is good
by walking

 

[NextDoorAuntie]

when retire must have money, have free time (not bogged down by family commitment etc), have health. 有钱，有闲，有健康. everyone need different level of marnee. you happy can le.

health is most important. we tink we will all be lucky enuff. but the older you get, the less control you have over it.

 

[Daty41]

my target is to have a high enough paying, very low stress (now and later till retirement), low risk (recession proof work) that u no scared to lose (can relatively easily get a similarly high paying job) that can last till pass retirement age.

high paying enough = can afford normal car, afford to splurge occasionally on food, electronics, life style, overseas holidays, vice..able to enjoy the latest in stuff without any guilt...nothing crazy like buying a Lambo or staying in landed property (or even condo)

and enough to be able to eat healthy, exercise..

 

[satayxp]

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

credit card debt is not good debt at all, the interest rate is loan shark rate..
cc is just convenience, n one must pay up on time

 

[thyler_koh]

Why TS needs to come EDMW to find affirmation one

This .. lol