Share your retirement strategy

[dowzkeh]

Passive income via stocks and property (hopefully). Have paid up HDB, and can channel excess funds to more investments now.

Slowly and steady i hope

 

[[M]aiev]

Already currently working just to kill time for time being and focus on investing on stock market(I am 100% on financial market !)

Luckily parents are high income earner + properties for rental income..

 

[Shiny Things]

Anyway, for those who have the luxury of retiring early, there could be two things they could do. (based on what I have seen of my ex-bosses, senior people who were laid off)

1) One of them now heads the board of a charity. He runs it like a tight ship/company which I think benefits from his years of corporate experience.

2) Another one is into angel investing and business mentorship. Helps to keep him in touch with the industry, make a little money on the side. But must be realistic on the returns and the temptation to micro-manage the investee.

A couple of other things I've seen:

3) Adjunct teaching at your local university. I'm not sure if this is a thing over in Singapore, but on this side of the Pacific there's plenty of demand for adjunct teachers to teach college classes; basically anyone who can fog a mirror can teach a class. The pay sucks, but the people you meet and the access to university resources make up for it.

4) Consulting to your former industry: hang out a shingle and start spreading the word that you're in the market to share your expertise. I do this; I consult for HNWIs, and corporates and endowments that need independent advice on their investments (this is especially a problem for smaller endowments and corporates, whose only sources of investment or hedging advice might be the banks that are trying to sell them things).

 

[Genosis]

what is happiness?what is the meaning of our lives?does anything you do have a meaning or purpose?it takes light from the stars millions of years to reach us,what we are seeing has already occured thousands of years ago,our lives will be over in a thousandth of a fraction of that.who will remember us then?who will even know we even existed?our lives are less valuable than dust.

All the big questions of life...

 

[frenchbriefs]

Already currently working just to kill time for time being and focus on investing on stock market(I am 100% on financial market !)

Luckily parents are high income earner + properties for rental income..

what kind of work u do is so fun u work just to kill time?

 

[wondrdoggie]

Can this sense of identity really be found in employment or running a business? Personally, have never found it there. The good old days of studying during sec, jc and uni was when there was some form of intellectual growth. After that, a dull stagnant phase starts to set in. Maybe the key is continuous learning. Keep doing new stuffs, and learning new skills. Or maybe the key is increasing awareness, such that even doing mundane stuff becomes new and alive again.

As an example, when you meet a new friend or get introduced to someone, after exchanging names and pleasantries, wouldn't the question of occupation always present itself next? When I google my name, I hardly get any results, but add to that my old company, the results are many pages long. So to me, our professions and employers form part of our identity. And spending so much time and effort on a job or company, you also derive satisfaction and pride. That's just my view anyway.

As for learning, I learnt so much more from running my own business with my other co founders than any schools or jobs. And I never dreaded going to work, I loved Mondays. It is always challenging because while I have no one to blame but myself for failures, I also have the ability to make my own decisions. It's different when you work for someone. I used to work in the diplomatic service and large american MNCs, all very prestigious but quite frustrating. Obeying blind orders, hierarchy and politics, I felt very stifled.

Anyway, I agree totally about the continuous learning part. Which is why my aim now is to learn how to be a kickass barista and make awesome coffee.

 

[Majestic12]

Being a former banker now running a few financial businesses, here are some tips from my wealthy clients, many of whom I am still close to.

1. Many don't retire. In fact they advised me to never retire. Instead, keeping yourself active via running a business or businesses, frequent travels and socialising.

2. We commonly associate retirement with not having to work for money. However, it is shallow enough that once you have achieved it, it leaves you feeling empty after a while. The trick is to condition yourself in learning new skills, activities and lessons. Boredom drains your health.

3. Wealth, like intelligence, is a U-shaped curve. At a point it hits the law of diminishing returns. Thereafter it actually negatively impacts your lifestyle. However I personally don't regard this as being a very important point yet - still more wealth to accumulate.

4. Continue contributing to your networks in whichever ways you can. Pro bono consulting, sitting on the boards of companies, independent directorship, acting as an angel investor for startups, the possibilities are endless.

5. Keep networking. You never really know for certainty what comes out of an interaction or a discussion.

6. Work becomes less stressful when you know you don't need that salary to support your lifestyle.

---

Personally I can choose to retire right now with the financial and social capital I have garnered. However being below 30, it is pointless. I see wealth accumulation, management and the preservation of it as a game for me to continue winning at now.

The goal is to continue running and improving whatever ventures I am in now and expand the portfolio of businesses in the years to come.

 

[Perisher]

As an example, when you meet a new friend or get introduced to someone, after exchanging names and pleasantries, wouldn't the question of occupation always present itself next? When I google my name, I hardly get any results, but add to that my old company, the results are many pages long. So to me, our professions and employers form part of our identity. And spending so much time and effort on a job or company, you also derive satisfaction and pride. That's just my view anyway.

As for learning, I learnt so much more from running my own business with my other co founders than any schools or jobs. And I never dreaded going to work, I loved Mondays. It is always challenging because while I have no one to blame but myself for failures, I also have the ability to make my own decisions. It's different when you work for someone. I used to work in the diplomatic service and large american MNCs, all very prestigious but quite frustrating. Obeying blind orders, hierarchy and politics, I felt very stifled.

Anyway, I agree totally about the continuous learning part. Which is why my aim now is to learn how to be a kickass barista and make awesome coffee.

Ha, I hope you treat your employees or who ever is under you well so they can see your blind orders, hierarchy and politics which you as an employee felt before.

No offence... Just thinking about how the 2 different perspective think.

Oh, and a Mocha Frappe please.

 

[doody_]

what kind of work u do is so fun u work just to kill time?

You haven't found your passion in life. I'm happy to go to work everyday. Most people have a job, might as well get one you like.

 

[Opps-gal]

There are many, not to mention some younger ones who are probably in their 30s to 50s. You wouldn't know unless they told you.

Could be housewife/house husband, and have kids to take care of, so cannot say is retired unless they said so?

 

[Opps-gal]

You haven't found your passion in life. I'm happy to go to work everyday. Most people have a job, might as well get one you like.

How easy to get into a job that you like?

 

[Opps-gal]

Going into business is not for everyone? Could end up negative income, if business don't do well.

Being a former banker now running a few financial businesses, here are some tips from my wealthy clients, many of whom I am still close to.

1. Many don't retire. In fact they advised me to never retire. Instead, keeping yourself active via running a business or businesses, frequent travels and socialising.

2. We commonly associate retirement with not having to work for money. However, it is shallow enough that once you have achieved it, it leaves you feeling empty after a while. The trick is to condition yourself in learning new skills, activities and lessons. Boredom drains your health.

3. Wealth, like intelligence, is a U-shaped curve. At a point it hits the law of diminishing returns. Thereafter it actually negatively impacts your lifestyle. However I personally don't regard this as being a very important point yet - still more wealth to accumulate.

4. Continue contributing to your networks in whichever ways you can. Pro bono consulting, sitting on the boards of companies, independent directorship, acting as an angel investor for startups, the possibilities are endless.

5. Keep networking. You never really know for certainty what comes out of an interaction or a discussion.

6. Work becomes less stressful when you know you don't need that salary to support your lifestyle.

---

Personally I can choose to retire right now with the financial and social capital I have garnered. However being below 30, it is pointless. I see wealth accumulation, management and the preservation of it as a game for me to continue winning at now.

The goal is to continue running and improving whatever ventures I am in now and expand the portfolio of businesses in the years to come.

 

[frenchbriefs]

You haven't found your passion in life. I'm happy to go to work everyday. Most people have a job, might as well get one you like.

im not on a quest for life meaning or passion seeking whatsoever,i just need a job thats tolerable enough that i can do it six days a week while i save and build up my portfolio to financial freedom for a couple of years.money buys u freedom and thats the most important commodity in life according to this guy,freedom gives u choices and options.freedom is a bunch of passports and a stack of currency to go wherever you want and do whatever you want.

 

[doody_]

How easy to get into a job that you like?

Depends on what you like. No offence to artists but if you like drawing, it may be tough for you to do that and earn a decent income. I am blessed to like something that also pays decently well.

 

[wondrdoggie]

Ha, I hope you treat your employees or who ever is under you well so they can see your blind orders, hierarchy and politics which you as an employee felt before.

No offence... Just thinking about how the 2 different perspective think.

Oh, and a Mocha Frappe please.

I hope I treated them fairly and well too. Whatever I hated (unfairness, favoritism, red tape, lack of support, illogical decisions), I did my best not to repeat them. Many of them are still my friends, they are still willing to work for me in my new companies, so I don't think I am a tyrant. Haha

 

[Perisher]

I hope I treated them fairly and well too. Whatever I hated (unfairness, favoritism, red tape, lack of support, illogical decisions), I did my best not to repeat them. Many of them are still my friends, they are still willing to work for me in my new companies, so I don't think I am a tyrant. Haha

I need a job nao!

 

[wts2013]

I hope I treated them fairly and well too. Whatever I hated (unfairness, favoritism, red tape, lack of support, illogical decisions), I did my best not to repeat them. Many of them are still my friends, they are still willing to work for me in my new companies, so I don't think I am a tyrant. Haha

oops, moi prefer to work with than for a good boss, hahaha, work with "are friends"??, work for hmm hmm, hahaha

 

[allways]

Ha ha I never plan for my retirement but retired 2 and a half year ago. Now then thinking how to make my money last till 90.

 

[Genosis]

Ha ha I never plan for my retirement but retired 2 and a half year ago. Now then thinking how to make my money last till 90.

Seriously!?!?!?!?!

 

[wts2013]

Ha ha I never plan for my retirement but retired 2 and a half year ago. Now then thinking how to make my money last till 90.

hahaha you shld have CPF Life to last till then lor, then be frugal, now savings account also earn quite high interest rate lor so money make more money then dun spend more than the interest u earn lor, hahaha, surely u have got other assets giving u "income" to spend lor, hahaha