Retiring before 40?

[henrylbh]

Play chicken is a waste of money lah....

But his retirement budget already takes that into account for healther living

 

[Toni90]

I think at Batam, $10 sgd can settle 3 meals and also got free World Cup to see

I think in Singapore $10 also can settle 3 meals.

 

[Toni90]

There are plenty of old people in Malaysia. My great grandmum live till 100 plus years old, both my grandmothers are still quite healthy.

They stay with their kids, right? U see any very old, childless Singaporean couples living in Malaysia happily?

 

[qhong61]

That's a puzzle. If CPF LIFE is going to make or break your retirement plan, then you're cutting things way too close.

You should be aiming for a CPF LIFE Escalating Plan payout starting at age 70, then roll back from that if genuinely necessary (if you're caught short). If that's not your aim point, you're not planning well, if you're able to plan well.

Provided he has long life.

 

[Sinkie]

I think in Singapore $10 also can settle 3 meals.

I practise intermittent fasting

One day only eat 1 meal at my parent hse

 

[BBCWatcher]

Provided he has long life.

No, that has nothing to do with it, and with very few exceptions (e.g. planned suicide), nobody can predict his/her own lifespan.

This is about reasonable retirement planning. If you're planning such that you expect you'll be barely financially afloat before CPF LIFE kicks in as early as possible (age 65), you're cutting it way, way too close. Now, maybe that's the best you can do, if that's genuinely the best you can do. But you certainly shouldn't be aiming for that outcome.

No, you really need to adjust your financial plan, if at all possible, such that at most you'll require the CPF LIFE Escalating Plan, starting from age 70, to take you to the finish line. If you can do even better than that, fantastic -- I entirely agree with the point starfish.starfish made -- but for retirement planning purposes don't try to be any more reliant on CPF LIFE than that (Escalating Plan, age 70 payout start date).

CPF LIFE is like your reserve parachute. You really don't want to plan to be reliant on your reserve chute, ever. You want to take every possible precaution to avoid primary chute failure. CPF LIFE is your very last line of financial defense.

 

[ExtremeWays]

I practise intermittent fasting

One day only eat 1 meal at my parent hse

Same here. I skipped lunches

 

[homer123]

Usually, I bring my water bottle... Typically only spend $2.5-$3.5 for lunch/dinner in non-aircon coffee shop..Breakfast $1-$2 ..cheaper if I buy my own bread and apply the spread.

I think in Singapore $10 also can settle 3 meals.

 

[SibehHL]

Play chicken is a waste of money lah....

If one is single, I supposed that will be a basic requirement for maintaining long term mental well being, unless one is able to regularly find a willing partner...

 

[qhong61]

If one is single, I supposed that will be a basic requirement for maintaining long term mental well being, unless one is able to regularly find a willing partner...

Talk rubbish..

 

[OngHuatHuat]

Some health condition deteriorate very fast, then drug also another big expense item.

If one is single, I supposed that will be a basic requirement for maintaining long term mental well being, unless one is able to regularly find a willing partner...

 

[Sinkie]

If one is single, I supposed that will be a basic requirement for maintaining long term mental well being, unless one is able to regularly find a willing partner...

Jill is free!!

 

[OngHuatHuat]

You will be surprised by how many male retirees chose Thailand due to this reason.
In my opinion, it is okay to put it as part of your expenses if you are single, but then some suffer erection dysfunctional, then they may need to set aside medical expenses for this purpose too.

But his retirement budget already takes that into account for healther living

 

[SibehHL]

Talk rubbish..

Huh? Why is that rubbish? I would have thought this a very normal mental need though the act itself is physical.

Understandably some will practice so call abstention but majority will at least resort to some form of self gratification, as @Sinkie mentioned; i.e., Jill.

Common folks & especially non-believers such as myself will find it hard to be able to completely & permanently shut one's mind off from such needs.

 

[Sinkie]

Play chicken is a waste of money lah....

Sometime play jiken is cheaper than maintaining a gf for piak piak

 

[ahboy82]

I oso want b like sinkie buy condo enjoy good life n yet b able to retire by 50

How

 

[Maeda_Toshiie]

Sometime play jiken is cheaper than maintaining a gf for piak piak

Some people prefer to meditate...

 

[assiak71]

actually not hard for a middle income single who saves and invest to achieve it

 

[qhong61]

Huh? Why is that rubbish? I would have thought this a very normal mental need though the act itself is physical.

Understandably some will practice so call abstention but majority will at least resort to some form of self gratification, as @Sinkie mentioned; i.e., Jill.

Common folks & especially non-believers such as myself will find it hard to be able to completely & permanently shut one's mind off from such needs.

So guess u visit quite often?

 

[kuehteow]

After my few earlier posts that suggests it is difficult to retire at 40, lemme go over the other side of the aisle.

It is in fact possible to even retire at 38. BUT with conditions....

1) must be single.
2) retirement is out of SG.
3) Simple lifestyle in a rural setting. I am thinking chiang mai maybe with SGD 1K/mth including rental.
4) no contingency for major illness eg if get cancer, don't bother chemo/targeted therapy and so on. Just live and wait for the disease to take it's course..

Will.need about 500-600k (non cpf funds) to generate 12-15k per year. After 14/15 years of working, staying with parents and being thrifty it's possible to save 500k or so....

The point is that the circumstances (family/children etc) one is in will largely determine the retirement age.

Common sense is unfortunately not common at all.. HardwareZone Forums app

Interesting fact on your point.

Personally, I feel that retirement plannings can never be too early but are always too late when one realized it. I cant really recall when i started to think and plan for my own, but I am already planning for it just in case i am asked to go from my current job.

Honestly, whatever you have cited so far are basically my consideration for retirement:

- I am single and no real plan to get settle down.
Retirement out of SG
- My plan is to reside in JB for my retirement. (This is subjective and the location is depending on individual preference)
Simple lifestyle for me
- My retirement unit is already in placed, currently as weekend home, HDB almost fully paid and will be rental out if necessary (I would say that my place is at a reasonably centralized location, so I have no worry about the rental part, any its just an optional alternative when time comes)
Contingency plan for major illness
-Already gone thru that stage so currently is all about maintaining my own personal health.

Will need about 500-600k (non cpf funds) to generate 12-15k per year.
- Very subjective for me as it depends on individual. I live humbly and dont really spend much as a single. Appreciating red wine and loves to cook so whether i really need that sort of reserve for retirement, I am not that certain. Anyway, its not really the priority when i am thinking of retirement honestly.

I think retirement is about spending time to do things that we like. (Different people like different things and live different lifestyle) IF you are able to find something you like as your retirement past time, I think that will be the perfect scenario.

There's no really right thing or right time when it comes to retirement. I believe when the time comes, we will know.