Those people with $20k salary, what they spend on?

[Dividends]

Whether you can retire young or not depends on your lifestyle, but it's easy to succumb to lifestyle inflation. If those who earn 20k a month spends like those who earn 10k a month, I'm sure retiring young isn't an issue.

My wife and I (~290k p.a. combined) aim to retire by 50, but we can definitely do so younger, just want more buffer.

 

[harbinger255]

2 different matter, but nowadays in sg is really tough to retire young
only way is to bite the bullet and keep building passive income
but one of my main portfolio down 46% that make me regret not buying property in the first place

500k annually and you can't get it to work....?

Seems like not just edmw but singapore is doomed....

 

[Scarlet Tea]

everynight different poosey,

 

[Dividends]

How you get so much relief? You run your own business? Or pump a lot into CPF and SRS?

Would easily hit that with working mother's child relief. But maybe he has his own business like you suggested, I was able to hit $65k deductions last year by maxing out CPF contributions from 2 companies and SRS/CPF topups.

 

[Dividends]

You are ok with pumping so much into special account? if you wanna retire early? Cos SA cannot take out until very late age.

It's not like that's my only form of saving, I've pumped >100k over the past 5 years into SA, maxing it out early last year. Just treat it as a form of savings diversification.

 

[nats7798]

赚多钱 花多钱

没有办法的

 

[veryhonestguy]

How you get so much relief? You run your own business? Or pump a lot into CPF and SRS?

This is just working mum 49 k rebate plus cpf plus husband ns men relief

 

[veryhonestguy]

500k annually and you can't get it to work....?

Seems like not just edmw but singapore is doomed....

Just to be realistic last time think 500 k easily afford a landed as I see landed average income is only at 26 k
Now property price so high , and if I really count even if you save 300 k a year 10 years is only 3 m

 

[veryhonestguy]

u forget to mention the rest of your $$ still need to use them to polish your big canon .... end up zero savings.

It does not matter if you believe anot , as my income does not affect you at all.
Just sharing different opinion

 

[harbinger255]

Just to be realistic last time think 500 k easily afford a landed as I see landed average income is only at 26 k
Now property price so high , and if I really count even if you save 300 k a year 10 years is only 3 m

How young do you wanna retire anyway? Frankly given a choice... Will work till they pry my corpse away...

Considering now already in my 40s.... Think die die need to work till 60 before even thinking of retirement....

 

[AhKongKia]

They spend their time on edmw lor.

 

[rampage333]

Like alot money?
Normally spend on car loan and housing loan?

Well up to you to believe. I earn triple that but my Wife spends $30k/month. After deducting my own expenses, I only save $4-5k a month. Thankfully house (HDB resale) fully paid. No car loan as well.

 

[walkingintherain]

spend on property overseas... get read to zao lor in case sinkieland phails...

 

[harbinger255]

Well up to you to believe. I earn triple that but my Wife spends $30k/month. After deducting my own expenses, I only save $4-5k a month. Thankfully house (HDB resale) fully paid. No car loan as well.

Seems like best asset/investment is a thrifty wife/life...

 

[veryhonestguy]

How young do you wanna retire anyway? Frankly given a choice... Will work till they pry my corpse away...

Considering now already in my 40s.... Think die die need to work till 60 before even thinking of retirement....

Well the more the merrier lol , I do have a dream to buy a 2nd hand Ferrari
But see the dent on the monthly saving is really sian liao

 

[Jeremy1]

KTVs, Nightclubs & FLs.............

 

[veryhonestguy]

it will definitely push back ur retirement. I don't even have a car right now. Just wanna save as much as possible, and invest as much as possible.

I have a daughter need to sent her to school and extra curriculum. Need a car and don’t be so stingy la lol . Car is really convenient, just cut down on ktv , and luxury splurge like fine dining always and branded attire like lv shirt and such

 

[peaceheart]

Same thing as everyone else but more expensive only