Do You Want To Retire Before 60 ?

[Cheesey74]

39 minutes ago, Wt_know said:

spore lang very cham leh ... had to sell bags to feed children wor .... sure bo ... muahahaha

do you need to sell cigar? lol

She's always the joker.. "sell bag feed her children", bird talk sibo 🤣

[Wind30]

I saw our minister kbw enjoying retirement during weekday lunch at cafe dino in Thomson a few weeks back… 

For me, I am more worried about kids growing up and spending less time with me. If retired, kids all grown up, really xian everyday.

[Throttle2]

41 minutes ago, Wind30 said:

I saw our minister kbw enjoying retirement during weekday lunch at cafe dino in Thomson a few weeks back… 

For me, I am more worried about kids growing up and spending less time with me. If retired, kids all grown up, really xian everyday.

You can spend time enjoying your photography and travelling with your wife.

[Wind30]

15 minutes ago, Throttle2 said:

You can spend time enjoying your photography and travelling with your wife.

… people like to see cute kids in photos… I really treasure the time I have with my young boy now… not many years more before he grows up.

[Ct3833]

1 hour ago, Wind30 said:

I saw our minister kbw enjoying retirement during weekday lunch at cafe dino in Thomson a few weeks back… 

For me, I am more worried about kids growing up and spending less time with me. If retired, kids all grown up, really xian everyday.

We have to be prepared to let go at some point in life, they won't accompany us forever but if they are close to us, they will still spend time with us whenever possible. At one point my wife and myself have been spending 2 persons time , which was quite enjoyable too. Then came my grandchildren, we begin to get  busy again. And because they stay with us, we have been spending lots of good time. You don't have to feel xian about future, things will get sorted out naturally, just enjoy  and cherish what you have now, this is what money will not buy you.

Fortunately both myself and my wife are still working, she will probably call it a day next year, but I will continue for another while because I need salary to buy toys 😄😄😄

Edited September 30, 2021 by Ct3833

[Rm2s]

18 hours ago, Lala81 said:

hmm I still only 40. 
I don't really want to retire early, but I'm different stage of life from you guys. 

Retiring early can be good depending on your own lifestyle, whether u have a bucket list of stuff to achieve. Or if your lifestyle is sibei stress or work is all-encompassing.
I'm not really into the hedonistic treadmill thing, so while i always wish i can work slightly less... the reality is that this tension is probably not a bad thing.

I don't die die love my work, but it keeps my mind relatively agile and it forces me to interact with people which i really prefer not to and is actually somewhat uncomfortable for me.
And that is a good thing, cos it confronts my main weakness. 

Allocating limited time is a problem that forces me to prioritize.

I like to cook but i don't like to cook more than 1-2 times a week. I like to read but there's only so many books to read that I'm genuinely interested in. 
I want to spend time with family but too much, probably become complacent and just treat it as a given.
I don't mind traveling, but going for more than a short holiday, nah I'm not interested. 
I'm definitely not those guys who go all-in into some hobby, which frankly many men are prone to (I'm one of the exceptions).
Maybe I'm most interested in helping my kids learn skills or the skills of skill-learning, but there is also value in being a role-model rather than just a "coach".

Maybe if i have grandkids to help take care of, then I'll seriously consider retiring.
Otherwise let's revisit this thread in 10 years time, if MCF is still around.

 

Interestingly I started serious retirement planning at age 40. The target then was to retire at 60, meaning 20 years to build up the fund. Just like you, stop working wasn't part of my plan.

A few years after that, I got retrenched and you read about people in their mid/late 40s having difficulties getting hired really worried me. My accumulated fund not even close enough for me to live on for long. I remember my kids were looking at me wondering why their father is at home all the time and no longer visit restaurant often. I was lucky and got hired after a few months and since then hitting the comfortable sum enough to see me through my golden years is my only goal in life.

Fast forward many more years, I am now in a situation when I can call it quit, on my terms. I no longer fear about losing my job or offending anyone at work for being honest.

My humble advice, while it seems like work is going well, thing can change very fast.

Learn how to manage your finance, something I have absolutely no idea how to do, I am still bad at it, so I depend a lot on traditional approaches like insurance, property and CPF. It works for me but it takes a long time to get there. Friends who are more savvy did much better and quicker. I have accepted that we are not the same, I can't switch my risk appetite since I was told since young stock market is a gamble, thanks to my dad. I love him very much but I wish he would let me figure out stock market on my own (haha!)

[Arogab]

56 minutes ago, Ct3833 said:

We have to be prepared to let go at some point in life, they won't accompany us forever but if they are close to us, they will still spend time with us whenever possible. At one point my wife and myself have been spending 2 persons time , which was quite enjoyable too. Then came my grandchildren, we begin to get  busy again. And because they stay with us, we have been spending lots of good time. You don't have to feel xian about future, things will get sorted out naturally, just enjoy  and cherish what you have now, this is what money will not buy you.

Fortunately both myself and my wife are still working, she will probably call it a day next year, but I will continue for another while because I need salary to buy toys 😄😄😄

My predecessor stop at 62, he enjoying very well after he handover to me. he also says goes back SG to take care of grandkids. comfortable life. But after this six months, he is bore liao. Always calling us to find out how things are going. I suppose not enough planning. Not money problem

[Throttle2]

1 hour ago, Wind30 said:

… people like to see cute kids in photos… I really treasure the time I have with my young boy now… not many years more before he grows up.

Thats just your personal opinion.  Or you simply like to see your cute kids in the photos.

I for one do not particularly like to see cute kids in photos generally.    maybe becos i am not particular a “kid loving” person.  
Love for our own children is of course a different thing.

yes time flies and children grow up fast.  There will come a time we as parents must let go.  Must prepare ourselves.  Everyone has to live his her own life and be his her own person.   
 

 

 

[Wind30]

11 minutes ago, Rm2s said:

Interestingly I started serious retirement planning at age 40. The target then was to retire at 60, meaning 20 years to build up the fund. Just like you, stop working wasn't part of my plan.

A few years after that, I got retrenched and you read about people in their mid/late 40s having difficulties getting hired really worried me. My accumulated fund not even close enough for me to live on for long. I remember my kids were looking at me wondering why their father is at home all the time and no longer visit restaurant often. I was lucky and got hired after a few months and since then hitting the comfortable sum enough to see me through my golden years is my only goal in life.

Fast forward many more years, I am now in a situation when I can call it quit, on my terms. I no longer fear about losing my job or offending anyone at work for being honest.

My humble advice, while it seems like work is going well, thing can change very fast.

Learn how to manage your finance, something I have absolutely no idea how to do, I am still bad at it, so I depend a lot on traditional approaches like insurance, property and CPF. It works for me but it takes a long time to get there. Friends who are more savvy did much better and quicker. I have accepted that we are not the same, I can't switch my risk appetite since I was told since young stock market is a gamble, thanks to my dad. I love him very much but I wish he would let me figure out stock market on my own (haha!)

Same here. The last stock I bought was 20+ years ago, Maybank on clob… 

I don’t even buy investment insurance products. Less money, spend less Lor.

thus I am very impressed by our minister kbw because he earn a lot more than me but still stay in small semi-d, eat Dino cafe…. 

[Throttle2]

7 minutes ago, Wind30 said:

Same here. The last stock I bought was 20+ years ago, Maybank on clob… 

I don’t even buy investment insurance products. Less money, spend less Lor.

thus I am very impressed by our minister kbw because he earn a lot more than me but still stay in small semi-d, eat Dino cafe…. 

I am more impressed by how he can be a minister.   😂🤣

[Enye]

did anybody say kids(or grandkids)?

🤣

[mersaylee]

33 minutes ago, Enye said:

did anybody say kids(or grandkids)?

🤣

Tame Blue, and the rests will follow you, the alpha 😁

[RadX]

Good article

 

Are We Saving Too Much For Retirement? (lifefinance.com.sg)

https://lifefinance.com.sg/are-we-saving-too-much-for-retirement/?fbclid=IwAR2PCzAJ8u21NFoXQLUgV1-Nsp1WSF-W2EXYdgPFDof5hBnnPuKP4HX1Y-U

[Wt_know]

i am saving 35% leh ... how come no $3.36M?

oops ... i am still stuck at $2.5K + OT as junior table wiper assistant ...  

T2 graduated from "chief mentor" of senior table wiper liao ... 

walao eh ... starts 2.5K + 3 months bonus + 4% raise every year + 10% up every 5 years ... and this is below average? 

alamak ... what is my average?   

Edited September 30, 2021 by Wt_know

[Throttle2]

17 minutes ago, Wt_know said:

i am saving 35% leh ... how come no $3.36M?

oops ... i am still stuck at $2.5K salary for table wiper assistant ...  

$3.36mil only ??!?! At age 65?,? Siao liao…..

how to retire like that ?🤦🏻‍♂️

[Throttle2]

32 minutes ago, RadX said:

Good article

 

Are We Saving Too Much For Retirement? (lifefinance.com.sg)

https://lifefinance.com.sg/are-we-saving-too-much-for-retirement/?fbclid=IwAR2PCzAJ8u21NFoXQLUgV1-Nsp1WSF-W2EXYdgPFDof5hBnnPuKP4HX1Y-U

Which goodu wrote this?

muayhahahah  

sound like some inexperienced millenial

Edited September 30, 2021 by Throttle2

[Throttle2]

29 minutes ago, Wt_know said:

i am saving 35% leh ... how come no $3.36M?

oops ... i am still stuck at $2.5K salary for table wiper assistant ...  

if your salary is $2.5k, you should just spend it all. No point saving lah….. muayhahahhahaha

 

 

[Throttle2]