View Full Version : Early retirement with monthly 10k passive income? POSSIBLE?
Hi all,
Do you think it's possible to go for early retirement with monthly 10k passive income from 3 properties rental yield? My wife used to said life is short and her wish is to retire together with me b4 her 50 which is the new BUC TOP time .:scared-5: !
Personnally feel that as years pass by, age increasing and health deteriorate, it is not bad to retire earlier and enjoy life lo :rolleyes: . However, are we or will you able to if you have to forgo current active gross income of monthly >10k salary and just for retirement? Can the PI of 10k sustain for long term retirement without using reserve saving is the key factor that hesitate me from early retirement :scared-3: ...want do you think?
phantom_opera
01-11-12, 09:25
the key question is: are they fully paid? and your idea of lunch is at home, hawker, kopi-tiam, low end restaurant, MBS or ION Orchard :D
and do u have expensive hobbies
at the end meaningless to ask question without providing info about your retirement lifestyle
Yup like what phantom_opera bro said, whether fully paid or not. If fully paid, 10000 per mth is very comfortable. Imagine if u save 2k per month, ur reserve savings will grow too.
buttercarp
01-11-12, 09:37
the key question is: are they fully paid? and your idea of lunch is at home, hawker, kopi-tiam, low end restaurant, MBS or ION Orchard :D
and do u have expensive hobbies
at the end meaningless to ask question without providing info about your retirement lifestyle
I agree with you on the above.
I think retirement is no fun.
As you will have lots of time, you may become whiney, neurotic, anxious and picky.
Better to continue working. Do something that you like and at the same time not too stressful.
$10k per month per couple (excluding kids) is just right, for me.
But will the $10 k continue to come in every month?
I think a couple can retire comfortably with about $15000 nett passive income and at least a million of cash or other easily liquidated investment.
Yup like what phantom_opera bro said, whether fully paid or not. If fully paid, 10000 per mth is very comfortable. Imagine if u save 2k per month, ur reserve savings will grow too.
the key question is: are they fully paid? and your idea of lunch is at home, hawker, kopi-tiam, low end restaurant, MBS or ION Orchard :D
and do u have expensive hobbies
at the end meaningless to ask question without providing info about your retirement lifestyle
3 already discharged except one BUC but will clear within 4-5yrs. Hahaha..will go for simple life...breakfast, lunch, dinner, night snack...either home cook or eat at hawker centre but occasionally weekend @ restaurant, MD, sakae sushi..lor:rolleyes: . In fact my current life is quite simple too without already major expensive hobby except rearing marine aquarium and tcss here lor...:D .
Not sure if you and your spouse have a large insurance premium to continue to service.$10000 per month for both of you may not be sufficient after nett off all these on-going expenses.
3 already discharged except one BUC but will clear within 4-5yrs. Hahaha..will go for simple life...breakfast, lunch, dinner, night snack...either home cook or eat at hawker centre but occasionally weekend @ restaurant, MD, sakae sushi..lor:rolleyes: . In fact my current life is quite simple too without already major expensive hobby except rearing marine aquarium and tcss here lor...:D .
MY 1st contribution... :ashamed1:
10k a month is pretty decent. I am semi-retired with 2 fully paid properties and getting passive income from one of them. Depending on how you live your life, I am able to survive less than 10k with 2 schooling kids :)
i wld be satisfied with 5k PI.
I agree with you on the above.
I think retirement is no fun.
As you will have lots of time, you may become whiney, neurotic, anxious and picky.
Better to continue working. Do something that you like and at the same time not too stressful.
$10k per month per couple (excluding kids) is just right, for me.
But will the $10 k continue to come in every month?
My wife plan to be a part time librarian or social worker..:rolleyes: . The PI may rise up or down by 20% depend on the market rental demand which I am expecting 9-11k.
Wow..10k/month for couple only?...:banghead: :banghead: :banghead: ! Me currently stay at HDB and monthly totally expenses not more than 6k includes car loan (end soon), allowance to parent, PIL, kids, clothing, eat, shit..etc..:D
MY 1st contribution... :ashamed1:
10k a month is pretty decent. I am semi-retired with 2 fully paid properties and getting passive income from one of them. Depending on how you live your life, I am able to survive less than 10k with 2 schooling kids :)
:cheers4: !
i wld be satisfied with 5k PI.
I dun think 5k is sufficient as the inflation is no joke now..and it will rise soon..:rolleyes:
I dun think 5k is sufficient as the inflation is no joke now..and it will rise soon..:rolleyes:
i born late, cld not accumulate as many prop as many "lao jiao" so boh pian...start late
MY 1st contribution... :ashamed1:
10k a month is pretty decent. I am semi-retired with 2 fully paid properties and getting passive income from one of them. Depending on how you live your life, I am able to survive less than 10k with 2 schooling kids :)
Agreed. I will retire or semi retire if I m in your shoes.
Life is short.
No point if 人在天堂，钱在银行 :banghead:
i born late, cld not accumulate as many prop as many "lao jiao" so boh pian...start late
Not to worry...still got Plenty of time to seed money If you are still young..:rolleyes: .
:scared-1::scared-1::scared-1: goodness, i am shock to see that 10k is not enuff? I think we got to be realistic. i suppose not aiming to eat fine dining at hotel for every single meal? or travel to UK or USA on biz class every month. seriously, $10k is alot for a couple without other committment.
i born late, cld not accumulate as many prop as many "lao jiao" so boh pian...start lateslowly accumulate lor, u are in 20s or 30s?
Although i am far from thinking about retirement now, just my two cents..
i think is better to have passive income not only from a single source (property). In the event that economy collapse, rental income might suffer, what do we do then? I like the idea of getting less stressful job, make a small income, still keep the brain working, while having the good passive income. If something bad happens, good passive income is gone but you still have the small income to sustain and lead a simple lifestyle.
slowly accumulate lor, u are in 20s or 30s?
mid 30s with 1 chewren
East Lover
01-11-12, 11:00
Agreed. I will retire or semi retire if I m in your shoes.
Life is short.
No point if 人在天堂，钱在银行 :banghead:
besides money, what will you do after retire? you will feel bored with wify after one or two years...........
i'm thinking of changing job also, lost interest already of my current stable job, but i don't know what's the next step if retire young, can't always shop, eat, shop and eat right?
i think part-time job is fine if not too demanding :) can kill time, can talk to people at least half day :D
IMHO 10k is enuff Liao if u lead a simple life. Good to have a less stressful job than totally no job keeps the mind active.
Contentment is great joy!
Yes life is unpredictable, eg. That Dr Richard Teo, he only learnt to live only when he learnt to die!
Agreed. I will retire or semi retire if I m in your shoes.
Life is short.
No point if 人在天堂，钱在银行 :banghead:
You only live once. Enjoy life while you can, especially if you are already financially independent. I am under 50 and life has been a blur for the past 20 years so decided to take the hectic life-style off the threadmill and enjoy. The kids love it and I am loving it :cheers6:
p.s - It gets a bit bored sometimes though :sleep:
buttercarp
01-11-12, 11:13
:scared-1::scared-1::scared-1: goodness, i am shock to see that 10k is not enuff? I think we got to be realistic. i suppose not aiming to eat fine dining at hotel for every single meal? or travel to UK or USA on biz class every month. seriously, $10k is alot for a couple without other committment.
10 k per month = 120 k per year.
Per year per couple
Insurance - 15k
maid - 12 K
grocery and food (1k per month) - 12K
fine dining (500 per month) - 6k
PUB ($400 per month) - 4.8k
Holiday (twice a year) - 20k
2 cars (servicing 2k per year, petrol 4.8k per year, insurance 2K per year)- 8.8k
The above is already 78.6k per year.
So left with $41400 per year as savings.
So 10k per month per couple is comfortable, not alot provided there is no inflation and you are guaranteed that amount every month.
And very importantly.... you remain in the pink of health!
East Lover
01-11-12, 11:21
IMHO 10k is enuff Liao if u lead a simple life. Good to have a less stressful job than totally no job keeps the mind active.
Contentment is great joy!
Yes life is unpredictable, eg. That Dr Richard Teo, he only learnt to live only when he learnt to die!
the problem is where is such less stressful job in SG??? i noticed even 2K salary admin clerk also got demanding from boss :scared-2:
even if working in library as part-time staff, you have work on weekend hehehe :D
East Lover
01-11-12, 11:32
10 k per month = 120 k per year.
Per year per couple
Insurance - 15k
maid - 12 K
grocery and food (1k per month) - 12K
fine dining (500 per month) - 6k
PUB ($400 per month) - 4.8k
Holiday (twice a year) - 20k
2 cars (servicing 2k per year, petrol 4.8k per year, insurance 2K per year)- 8.8k
The above is already 78.6k per year.
So left with $41400 per year as savings.
So 10k per month per couple is comfortable, not alot provided there is no inflation and you are guaranteed that amount every month.
And very importantly.... you remain in the pink of health!
if already retired, no need 2 cars liao as got a lot of time. even no need full time maid as you can enjoy the cooking at home, house work ask part-time cleaner... so deduct half of maid cost (6K), half of car cost (4K), you wll have 10K more for saving hahaha:D
so 5K per month is sufficient already??? :rolleyes:
buttercarp
01-11-12, 11:37
if already retired, no need 2 cars liao as got a lot of time. even no need full time maid as you can enjoy the cooking at home, house work ask part-time cleaner... so deduct half of maid cost (6K), half of car cost (4K), you wll have 10K more for saving hahaha:D
so 5K per month is sufficient already??? :rolleyes:
Agree that can do away with maid and 1 car to cut costs.
But I want to retire in style :) .
So my lifestyle must be the same or better than the present.
Otherwise I cannot retire.
Agreed. I will retire or semi retire if I m in your shoes.
Life is short.
No point if 人在天堂，钱在银行 :banghead:
I was LOLing at this 人在天堂，钱在银行
Such a cute n funny term. Never heard before... Will strive to use from now on...
For some, 人在天堂，钱在bintan
Enjoy doing what I am doing at my job. Just want to retire my spouse. May go into semi-retirement otherwise life is too monotonous.
besides money, what will you do after retire? you will feel bored with wify after one or two years...........
i'm thinking of changing job also, lost interest already of my current stable job, but i don't know what's the next step if retire young, can't always shop, eat, shop and eat right?
i think part-time job is fine if not too demanding :) can kill time, can talk to people at least half day :D
10 k per month = 120 k per year.
Per year per couple
Insurance - 15k
maid - 12 K
grocery and food (1k per month) - 12K
fine dining (500 per month) - 6k
PUB ($400 per month) - 4.8k
Holiday (twice a year) - 20k
2 cars (servicing 2k per year, petrol 4.8k per year, insurance 2K per year)- 8.8k
The above is already 78.6k per year.
So left with $41400 per year as savings.
So 10k per month per couple is comfortable, not alot provided there is no inflation and you are guaranteed that amount every month.
And very importantly.... you remain in the pink of health!
20k holiday...:cheers5: ..going Texas..huh...:D
the problem is where is such less stressful job in SG??? i noticed even 2K salary admin clerk also got demanding from boss :scared-2:
even if working in library as part-time staff, you have work on weekend hehehe :D
At least you know that working as part time librarian is to kill time not because of money....:D
mid 30s with 1 chewrenI see, then we are in the profile :cheers4:
the problem is where is such less stressful job in SG??? i noticed even 2K salary admin clerk also got demanding from boss :scared-2:
even if working in library as part-time staff, you have work on weekend hehehe :D
Oh ya the library officer... I applied and they never even bothered to acknowledge much less call me up!!!!!! Bloody arses
Agree that can do away with maid and 1 car to cut costs.
But I want to retire in style :) .
So my lifestyle must be the same or better than the present.
Otherwise I cannot retire.
You are oba tai tai style..so cannot change....:D :D :D :D :D :D !!!
bro rent out all your properties and relax in ur sea-esta unit...:cheers5:
buttercarp
01-11-12, 12:54
You are oba tai tai style..so cannot change....:D :D :D :D :D :D !!!
Tai tai no need to work, but I need to work hor :o !
So if I retire too early, I will kena psy :D !
Agree that can do away with maid and 1 car to cut costs.
But I want to retire in style :) .
So my lifestyle must be the same or better than the present.
Otherwise I cannot retire.
i had an argument with my wife over some small matter a few days ago(happens when ur married:D )...anyway she turn round and told me i am lucky i married an INDEPENDANT woman like her who never ask me for money/jewellery/holidays...i been thinking about that...dont know whether to laugh or cry...:confused: :cool: :rolleyes: :D
i had an argument with my wife over some small matter a few days ago(happens when ur married:D )...anyway she turn round and told me i am lucky i married an INDEPENDANT woman like her who never ask me for money/jewellery/holidays...i been thinking about that...dont know whether to laugh or cry...:confused: :cool: :rolleyes: :D
Then what is She asking for... SEX:eek: ?
buttercarp
01-11-12, 12:58
i had an argument with my wife over some small matter a few days ago(happens when ur married:D )...anyway she turn round and told me i am lucky i married an INDEPENDANT woman like her who never ask me for money/jewellery/holidays...i been thinking about that...dont know whether to laugh or cry...:confused: :cool: :rolleyes: :D
Bro, she is right :) !
I am also similar to her and i think my husband is fortunate too.
That's why I tell my son that his future wife should be able to support herself , and better still the family :D .
bro rent out all your properties and relax in ur sea-esta unit...:cheers5:
I dun own one :doh: .........but my wife do.....:D
Then what is She asking for... SEX:eek: ?
:D :D :D ...censored...:D :D :D
Ganggam...style...:D :D :D
Bro, she is right :) !
I am also similar to her and i think my husband is fortunate too.
That's why I tell my son that his future wife should be able to support herself , and better still the family :D .
totally agree if you are not from a rich family...i bread winner VERY siong...:scared-4:
I dun own one :doh: .........but my wife do.....:D
then you must follow the husband/wife policy...whats yours is mine..whats mine is NOT yours..:D
totally agree if you are not from a rich family...i bread winner VERY siong...:scared-4:
I thought bread winner got the bigger say...:rolleyes: !
then you must follow the husband/wife policy...whats yours is mine..whats mine is NOT yours..:D
That is my wife's policy la...I cannot n not dare to override it...:banghead: .
You only live once. Enjoy life while you can, especially if you are already financially independent. I am under 50 and life has been a blur for the past 20 years so decided to take the hectic life-style off the threadmill and enjoy. The kids love it and I am loving it :cheers6:
p.s - It gets a bit bored sometimes though :sleep:
Lucky you.
I asked my P4 kid if I should retire in 2 years time to coach him for PSLE and he looked horrified and said no, no don't give up your job.
I think there are a lot of retired people or non-working people around. I had one week off and went to the fitness classes and some of the classes were packed. These were all-women's classes and the timings were week day mornings.
Personally I would be bored without my job.
East Lover
01-11-12, 17:37
Lucky you.
I asked my P4 kid if I should retire in 2 years time to coach him for PSLE and he looked horrified and said no, no don't give up your job.
I think there are a lot of retired people or non-working people around. I had one week off and went to the fitness classes and some of the classes were packed. These were all-women's classes and the timings were week day mornings.
Personally I would be bored without my job.
haha, my boy said the same thing! :doh:
my boy said it's ok to stay at home to have fun with him, but not coach him for study. both of us will be driven crazy by me :ashamed1:
Keep working till you are 60yrs old.. but take more holiday breaks using your leave.
The active income is a risk-free income that you use time to exchange, but it certainly is more enjoyable using that money to go around the world and buy experiences than using your passive income.
Of course, social factor is very important. It is always more fun to be socializing in office.. hehe.. with your colleagues and vendors
even if u stop working, it's good to keep your mind active. otherwise u age faster.
haha, my boy said the same thing! :doh:
my boy said it's ok to stay at home to have fun with him, but not coach him for study. both of us will be driven crazy by me :ashamed1:
I can still coach them up to P6 but not in Upper Sec. :mad:
Up to P6, I just make them do test papers which are readily available. Too much trouble to arrange tuition because a lot of time is wasted in ferrying them to and fro and anyway, the P4 boy going to P5 has such a heavy schedule next year that he will not be able to go for any tuition except Chinese on Sat as I have never studied Chinese so unable to help him.
:doh:
Pri sch kids these days have a really hard time. He will have 2x week Higher Chinese in sch in the afternoon, 2x week sch enrichment classes in the afternoon, 2x week training for sch table tennis team (he is trying to get out of this but the coach is trying to get him to do this). There is no time to go for tuition in the weekdays so I have to set him testpapers the few weeks before the exams to get him exam-orientated.
even if u stop working, it's good to keep your mind active. otherwise u age faster.
Totally agree with this.
Most of those in my profession work beyond the mandatory retirement age.
Enjoy doing what I am doing at my job. Just want to retire my spouse. May go into semi-retirement otherwise life is too monotonous.
Bro, complete bucket list.....
Every quarter, travel somewhere nearby and soak in the sun. Every one year, travel long haul and roam the country - do free and easy in one or 2 state/city.
Every morning, go gym or go walk. Then soak in Jacuzzi. Voila - half day gone. Afternoon read book or roam places in Singapore.
I looking forward to doing all this. But agree, need cash, if not how to enjoy.
Bottomline, if really bored, return to work force and do something simple to pass time. Maybe 1/2 day work.
It Is Coming !!!
:D:D:D
East Lover
01-11-12, 18:43
I can still coach them up to P6 but not in Upper Sec. :mad:
Up to P6, I just make them do test papers which are readily available. Too much trouble to arrange tuition because a lot of time is wasted in ferrying them to and fro and anyway, the P4 boy going to P5 has such a heavy schedule next year that he will not be able to go for any tuition except Chinese on Sat as I have never studied Chinese so unable to help him.
:doh:
Pri sch kids these days have a really hard time. He will have 2x week Higher Chinese in sch in the afternoon, 2x week sch enrichment classes in the afternoon, 2x week training for sch table tennis team (he is trying to get out of this but the coach is trying to get him to do this). There is no time to go for tuition in the weekdays so I have to set him testpapers the few weeks before the exams to get him exam-orientated.
I surprisingly found out US student life are also not easy if you come from asian family :) . one of my friends (from TW) is super busy after 3PM everday, as she needs to send kids to so many enrichment classes after school, drawing teacher from 浙江美院， vocal teacher from shanghai (can't remeber the actual name but very big), and ballet teacher from 中央芭蕾舞团.... she said if want to go Columbia University or Harvard, must be all rounded... all of her kids are US residents, top in school ...
see, every where no easy if parent so ambitious:scared-3:
phantom_opera
01-11-12, 19:05
There are certain things in life only doable when u are young
Allthepies
01-11-12, 19:13
it is good to "retire" early and do the things u like! life is too short and money is never enough! with 10K passive income should retire leh! my target 5K passive income and retire by 35!
I surprisingly found out US student life are also not easy if you come from asian family :) . one of my friends (from TW) is super busy after 3PM everday, as she needs to send kids to so many enrichment classes after school, drawing teacher from 浙江美院， vocal teacher from shanghai (can't remeber the actual name but very big), and ballet teacher from 中央芭蕾舞团.... she said if want to go Columbia University or Harvard, must be all rounded... all of her kids are US residents, top in school ...
see, every where no easy if parent so ambitious:scared-3:
That's a TIGER mum. Me no tiger, born in year of RAT.
it is good to "retire" early and do the things u like! life is too short and money is never enough! with 10K passive income should retire leh! my target 5K passive income and retire by 35!
35 is too young to retire. You should be at the peak of your career at that time.
And 5K passive income is not enough to bring up kids. Educational costs outstrip inflation. And so do medical costs (unless you are going to use polyclinic and C class throughout your life and put yourself at the mercy of newly arrived foreign talents working as junior doctors).
Bro, complete bucket list.....
Every quarter, travel somewhere nearby and soak in the sun. Every one year, travel long haul and roam the country - do free and easy in one or 2 state/city.
Every morning, go gym or go walk. Then soak in Jacuzzi. Voila - half day gone. Afternoon read book or roam places in Singapore.
I looking forward to doing all this. But agree, need cash, if not how to enjoy.
Bottomline, if really bored, return to work force and do something simple to pass time. Maybe 1/2 day work.
It Is Coming !!!
:D:D:D
thx you for your suggestion.
look ideal to me.
hope to have this plan from 2013 onward..
:hell-hath-no-fury:
it is good to "retire" early and do the things u like! life is too short and money is never enough! with 10K passive income should retire leh! my target 5K passive income and retire by 35!
Hi bro...You must be kidding man...35 is too young to retire unless you are single or married without Kid and with $0.5~1mil bank reserve beside the 5K passive income lo...:rolleyes: !
My FIL retired this year at the age of 95
I retired two years back at the age of 54
and my girl is retiring next year at the age of 27....
my son is still wondering what to do after his degree...
So, there is only one income earner in my family, that is my helper....
buttercarp
01-11-12, 20:55
My FIL retired this year at the age of 95
I retired two years back at the age of 54
and my girl is retiring next year at the age of 27....
my son is still wondering what to do after his degree...
So, there is only one income earner in my family, that is my helper....
What about your other half.... also retired?
phantom_opera
01-11-12, 20:57
My FIL retired this year at the age of 95
I retired two years back at the age of 54
and my girl is retiring next year at the age of 27....
my son is still wondering what to do after his degree...
So, there is only one income earner in my family, that is my helper....
so what your girl gonna do? :D bungee jump in NZ, trekking in Himalayas, safaris in Tanzania, moonlighting in Paris, reading book on Oriental Express, kayaking at Colorado rapids?
What about your other half.... also retired?
long ago....cannot remember alr...
I think was around 2002 when there was a major banking sector restructuring, and that is...RETRENCHED....which is different from retirement
My FIL retired this year at the age of 95
I retired two years back at the age of 54
and my girl is retiring next year at the age of 27....
my son is still wondering what to do after his degree...
So, there is only one income earner in my family, that is my helper....
Girl can retire anytime once they get married with rich hubby.... :D .
buttercarp
01-11-12, 21:00
long ago....cannot remember alr...
I think was around 2002 when there was a major banking sector restructuring, and that is...RETRENCHED....which is different from retirement
Now I remember vaguely that you mentioned it somewhere else.
Hmmm..... looks like this retrenchment and the joblessness has made the both of you more productive financially!
so what your girl gonna do? :D bungee jump in NZ, trekking in Himalayas, safaris in Tanzania, moonlighting in Paris, reading book on Oriental Express, kayaking at Colorado rapids?
ya, you got her....she just swam with sharks, went alone to Sahara...I dunno what is next up for her...
Anyway, I made it clear to her, I just provide her with a pair of chopstick and a room...no more...
My FIL retired this year at the age of 95
I retired two years back at the age of 54
and my girl is retiring next year at the age of 27....
my son is still wondering what to do after his degree...
So, there is only one income earner in my family, that is my helper....
Errr... retiring at age 27. Is it wise to do that?
Still single right? Need to get married, have kids, support children studies, etc...
Errr... retiring at age 27. Is it wise to do that?
Still single right? Need to get married, have kids, support children studies, etc...
I am looking for a son-in-law
long ago....cannot remember alr...
I think was around 2002 when there was a major banking sector restructuring, and that is...RETRENCHED....which is different from retirement
Wa, so lucky. Kana golden parachute or golden handshake. Either way, both also golden.
thx you for your suggestion.
look ideal to me.
hope to have this plan from 2013 onward..
:hell-hath-no-fury:
I tot u young rite?
I am looking for a son-in-law
I knew that. Seriously that 江苏卫视 program 非诚勿扰 can consider.
So far saw quite a number of participants from other countries like Taiwan, Singapore, HK, Canada, USA, France.
Sometimes they have 美国专场， 法国专场， 加拿大专场。 Singapore 专场 not yet though.
Saw a few Singapore male participant quite successful in 牵手。But so far no Singapore female participant yet.
I knew that. Seriously that 江苏卫视 program 非诚勿扰 can consider.
So far saw quite a number of participants from other countries like Taiwan, Singapore, HK, Canada, USA, France.
Sometimes they have 美国专场， 法国专场， 加拿大专场。 Singapore 专场 not yet though.
Saw a few Singapore male participant quite successful in 牵手。But so far no Singapore female participant yet.
thanks, i will copy this to her....
I tot u young rite?
yea...but i can work anywhere as long as there is internet.. :D:D
My FIL retired this year at the age of 95
I retired two years back at the age of 54
and my girl is retiring next year at the age of 27....
my son is still wondering what to do after his degree...
So, there is only one income earner in my family, that is my helper....
LOL.. I think the income earner is someone who brings money to the table of the family. So your house actually no income earner!
Allthepies
01-11-12, 21:24
35 is too young to retire. You should be at the peak of your career at that time.
And 5K passive income is not enough to bring up kids. Educational costs outstrip inflation. And so do medical costs (unless you are going to use polyclinic and C class throughout your life and put yourself at the mercy of newly arrived foreign talents working as junior doctors).
I'm thinking of working for a few months to earn just enough to go travel a few months. And repeat this cycle. Just like what the Ang Mos loves to do but me with a safety net of 5K passive income as backup.
Hmmm....so many Singaporeans retiring. What happens if the rental market in Singapore collapses?
I'm thinking of working for a few months to earn just enough to go travel a few months. And repeat this cycle. Just like what the Ang Mos loves to do but me with a safety net of 5K passive income as backup.
This sounds like the ang moh lifestyle indeed.
Allthepies
01-11-12, 21:28
Hmmm....so many Singaporeans retiring. What happens if the rental market in Singapore collapses?
go back to full time job :cheers1:
I have different strategy. Accumulate enough $ to prepare for correction and buy more fire sale developments to have quantum leap in wealth. :D
go back to full time job :cheers1:
I have different strategy. Accumulate enough $ to prepare for correction and buy more fire sale developments to have quantum leap in wealth. :D
greed have no boundary... :(
To you I may sound greedy but I am an opportunist. There are not many cycle in a life-time. BTW, I have still a long time from official retirement.
greed have no boundary... :(
As easy as that?
I guess it depends on your occupation.... I know many people who find themselves irrelevant after a sabbatical.
go back to full time job :cheers1:
Hmmm....so many Singaporeans retiring. What happens if the rental market in Singapore collapses?
Can go be a dish-washer :D Decent pay as well
Hi all,
Do you think it's possible to go for early retirement with monthly 10k passive income from 3 properties rental yield? My wife used to said life is short and her wish is to retire together with me b4 her 50 which is the new BUC TOP time .:scared-5: !
Personnally feel that as years pass by, age increasing and health deteriorate, it is not bad to retire earlier and enjoy life lo :rolleyes: . However, are we or will you able to if you have to forgo current active gross income of monthly >10k salary and just for retirement? Can the PI of 10k sustain for long term retirement without using reserve saving is the key factor that hesitate me from early retirement :scared-3: ...want do you think?
Let me come back to the subject proper...otherwise, detour too far.
$10,000 a month for retirement, is definitely enough for a reasonable simple life style including one or two holidays. Simple life style likes taking BMW (bus, mRT and walk) and getting part time helper and perhaps stay in a not so expensive place and no shopping of luxury items.
To me, it is not how much you spend. The amount that you can generate should be the deciding factor on how much you can spend. If your rental income is $10,000 a month, I will not encourage you to spend the full amount. As there will be down time and costly repair and maintenance issues.
It is a matter of choice. I forgone >$10,000 monthly salary to retire. Any regret? NO. As I am much happier, and relax, enjoying my freedom. Life is totally unpredictable, just decide on what you want first and then plan it out financially.
You have two properties which are fully paid. If you are a risk taker, I meant a calculated risk taker, you can always take equity loans and generate some good passive income via leverage as well.
Finally, the choice is yours. Retire young, retire rich is always good, but u must keep yourself active and healthy. Money is not everything,
yea...but i can work anywhere as long as there is internet.. :D:D
Oh ya, remember u say u in IT. U in software, hardware or underware biz. Joke ah for last item.
Allthepies
02-11-12, 07:26
I have different strategy. Accumulate enough $ to prepare for correction and buy more fire sale developments to have quantum leap in wealth. :D
i like ur idea : ) but with only passive income will bank lend me money? : )
phantom_opera
02-11-12, 08:42
When i was a poor student I travelled to many places, trek in Himalayas and grand canyon, Yosemite, enjoyed morning breeze of Kashmir and taj mahal, admired cheetah at Serengeti, relax at Irish pub with Irish music, mesmerized by diamond blue sea and glorious senset at santorini then I worked and went to silk road and lake kanas, Egypt, covered half of china and Taiwan, when my son was barely one year old I brought him to halong bay, Bali and cruises
An excolleague of mine been to nepal 25x, my record is 3x and plan to go again soon. Live at the present moment, enjoy it
I have different strategy. Accumulate enough $ to prepare for correction and buy more fire sale developments to have quantum leap in wealth. :D
What if a meaningful correction never comes?
Oh ya, remember u say u in IT. U in software, hardware or underware biz. Joke ah for last item.
more toward software side..
When i was a poor student I travelled to many places, trek in Himalayas and grand canyon, Yosemite, enjoyed morning breeze of Kashmir and taj mahal, admired cheetah at Serengeti, relax at Irish pub with Irish music, mesmerized by diamond blue sea and glorious senset at santorini then I worked and went to silk road and lake kanas, Egypt, covered half of china and Taiwan, when my son was barely one year old I brought him to halong bay, Bali and cruises
An excolleague of mine been to nepal 25x, my record is 3x and plan to go again soon. Live at the present moment, enjoy it
nice!
what is so amazing in nepal that make you guys travel to the place more than once?
phantom_opera
02-11-12, 09:26
more toward software side..
nice!
what is so amazing in nepal that make you guys travel to the place more than once?
you have to be there to feel it :D
I met one very old man walking at turtle speed from Europe during my ABC (Annapurna Base Camp) trek, he was taking his sweet time but was happy to be there while I was a student, rushing to complete the trek in 6d, I am sure I missed a lot of things :) My 2nd trip with my wife was more relaxing and less challenging + we managed to have a fun whitewater rafting too
looking back, all the money I spent ... if I saved it I could have one more property right now ... did I regret it? Not at all, I wished I have spent more !!!
auroraborealis
02-11-12, 09:34
shld try to trek himalayas from tibetian side... also very beautiful
more impt try to go b4 it becomes just another chinese city;
went once in early 2000s & once in late 2000s already marked difference; branded cars on roads, factories etc etc
really missed the rustic tibetian country feel & their sky lakes :ashamed1:
When i was a poor student I travelled to many places, trek in Himalayas and grand canyon, Yosemite, enjoyed morning breeze of Kashmir and taj mahal, admired cheetah at Serengeti, relax at Irish pub with Irish music, mesmerized by diamond blue sea and glorious senset at santorini then I worked and went to silk road and lake kanas, Egypt, covered half of china and Taiwan, when my son was barely one year old I brought him to halong bay, Bali and cruises
An excolleague of mine been to nepal 25x, my record is 3x and plan to go again soon. Live at the present moment, enjoy it
phantom_opera
02-11-12, 09:40
shld try to trek himalayas from tibetian side... also very beautiful
more impt try to go b4 it becomes just another chinese city;
went once in early 2000s & once in late 2000s already marked difference; branded cars on roads, factories etc etc
really missed the rustic tibetian country feel & their sky lakes :ashamed1:
agreed, not just Tibet, Bali today has lost its charm totally, truck load of Chinese tourists :(
Galen Rowell's Mountain Light really inspired me to go to the off beaten track ... but photography is not that important for me ... it is the experience
http://ecx.images-amazon.com/images/I/41rS-UT05YL._SL500_AA300_.jpghttp://ecx.images-amazon.com/images/I/51J-jtuUVfL._SL500_AA300_.jpg
ok, risking go too far off, to the thread starter, the true answer is what can you do with your 10k income to make your life more fulfilled ... be it spiritual, travel, volunteer work, arts, music etc ... :p
As easy as that?
I guess it depends on your occupation.... I know many people who find themselves irrelevant after a sabbatical.
Theres always dishwashing... Or cab driving.... Or cleaning. The most respected professions currently in sg.
I find myself at the same dilemma,
- 10k passive income via rental properties, stock dividends
- full paid up properties except for 1 commercial property
- net cash position i.e. cash covers all liabilities
- in my 40s
- 80% work week in a unmotivating job.
- cash flow positive, about 300k per year as our spending is very low
- wifey loves working
- 1 child in Sec sch, who is as simple/frugal as his parents.
I too would like to retire. But key question would be boredom and whether wifey will kick my BUM arse out of the house.
- 80% work week in a unmotivating job.
with that good financial background, you can quit your job and start to learn/do your favourite things. learn to appreciate life & keep your pace slower ..
:)
this quote is i find on the youtube video's comment on dr richard teo..
A person asked Confucius:
"What surprises you most about mankind?"
Confucius answered:
They lose their health to make wealth and then lose their wealth to restore their health.
By thinking anxiously about the future,? they forget the present, such as that they live neither as if they will never die, and they die as if they had never lived....."
you have to be there to feel it :D
I met one very old man walking at turtle speed from Europe during my ABC (Annapurna Base Camp) trek, he was taking his sweet time but was happy to be there while I was a student, rushing to complete the trek in 6d, I am sure I missed a lot of things :) My 2nd trip with my wife was more relaxing and less challenging + we managed to have a fun whitewater rafting too
looking back, all the money I spent ... if I saved it I could have one more property right now ... did I regret it? Not at all, I wished I have spent more !!!
thx ..me will plan a trip there..hopefully next year.
and try book a trip to tibet too..
tibet is near nepal ,right?:confused:
envy those who can walk well..
please travel as much as u wish...once u have the knee problems...just too much to walk
I won't retire even if I achieve financial freedom. Once you retire and play golf, travel, etc, it's downhill all the way.
Mostly true esp if you're a type-A personality.
buttercarp
02-11-12, 11:41
Mostly true esp if you're a type-A personality.
Not true.
I find that people who are too free become whiny, neurotic, busybody and a nuisance to others.
Not true.
I find that people who are too free become whiny, neurotic, busybody and a nuisance to others.
that must be ME!
Sitting at Funan food court during lunch gazing at the stressed out working crowd.... ooh la la simply enjoy. keke
envy those who can walk well..
please travel as much as u wish...once u have the knee problems...just too much to walk
I have the 'nee' problems
very sensitive
Sitting at Funan food court during lunch gazing at the stressed out working crowd.... ooh la la simply enjoy. keke
yes, once a while, my uni meet at Raffles Place for lunch...I will go early and sit there seeing the crowd....and notice the number of women smoking is getting more and more....these are young and mostly pretty as well
yes, once a while, my uni meet at Raffles Place for lunch...I will go early and sit there seeing the crowd....and notice the number of women smoking is getting more and more....these are young and mostly pretty as well
I only smoke socially. after smoking and drinking like no tomorrow the past 5-6yrs I actually feel pukey if I drink or smoke nowadays. System telling me quits.
I have the 'nee' problems
very sensitive
suck it out....lol..but not me.
Just wondering if any bros here in their 30ies in retirement mode and what kinda passive income are they generating
Just wondering if any bros here in their 30ies in retirement mode and what kinda passive income are they generating
not possible for those early 30s....unless you got some tricks :o
Just wondering if any bros here in their 30ies in retirement mode and what kinda passive income are they generating
Perhaps, just share my girl's, retiring next year at the age of 27.
Passive Income from Bond and REIT, tax free
Passive income from one property in HK (net cash inflow)
All from her hard earned money and savings in the last few working years.
Perhaps, just share my girl's, retiring next year at the age of 27.
Passive Income from Bond and REIT, tax free
Passive income from one property in HK (net cash inflow)
All from her hard earned money and savings in the last few working years.
wow 27 yrs? that's quite unbelievable considering that she worked only for 4+ yrs? What is the range of passive income she is getting?
wow 27 yrs? that's quite unbelievable considering that she worked only for 4+ yrs? What is the range of passive income she is getting?
u make a guess....
buttercarp
02-11-12, 15:00
Perhaps, just share my girl's, retiring next year at the age of 27.
Passive Income from Bond and REIT, tax free
Passive income from one property in HK (net cash inflow)
All from her hard earned money and savings in the last few working years.
If a large chunk of her income comes from tax free gains, then will there be a problem if she wants to secure a loan in future?
as usually the bank will want to look at the income tax.
u make a guess....
wahaha i not very gd at guessing but IMO at least a gd 8k/mth min
wahaha i not very gd at guessing but IMO at least a gd 8k/mth min
Within 4 yrs can make enough money completely independently to generate 8k passive income a month would easily get her featured as one of the great success stories for people in her age group.
Within 4 yrs can make enough money completely independently to generate 8k passive income a month would easily get her featured as one of the great success stories for people in her age group.
many of her peers are doing at that level.
:scared-1::scared-1::scared-1: goodness, i am shock to see that 10k is not enuff? I think we got to be realistic. i suppose not aiming to eat fine dining at hotel for every single meal? or travel to UK or USA on biz class every month. seriously, $10k is alot for a couple without other committment.
at first i thought i am the only one that is surprise... 10k is defintely more than enough for my big family of 4 young kids
many of her peers are doing at that level.
Which means making at least 50k a month? Some trading job in Bank?
many of her peers are doing at that level.
Yup it is possible if you are able to hit 2mil within 5-6yrs [including wealth accumulation from buy/sell condos + other investments]. Using the 2mil for 5% yield can easily net 8k/mth
Perhaps, just share my girl's, retiring next year at the age of 27.
Passive Income from Bond and REIT, tax free
Passive income from one property in HK (net cash inflow)
All from her hard earned money and savings in the last few working years.
impressive! so why is she retiring so early?
Yup it is possible if you are able to hit 2mil within 5-6yrs [including wealth accumulation from buy/sell condos + other investments]. Using the 2mil for 5% yield can easily net 8k/mth
My girl told me : "Don't count my money as it is not your money."
My girl told me : "Don't count my money as it is not your money."
Haha yup...at least she is independent and you have no worries about her future. I have seen chewren that tell their parents, "your money is my money sooner or later, might as well let me spend the money now" :scared-4: :scared-4:
I have seen chewren that tell their parents, "your money is my money sooner or later, might as well let me spend the money now" :scared-4: :scared-4:
haha, that must be my son....
auroraborealis
03-11-12, 11:49
wah impressive but what are her plans after that?
A few possibilities; get married & have kids, further study if don't wan to pay fees can get scholarships for Phd, start something interesting that's not capital intensive?? Cannot b retire "like 60 yr-olds" to do nothing rite...
Perhaps, just share my girl's, retiring next year at the age of 27.
Passive Income from Bond and REIT, tax free
Passive income from one property in HK (net cash inflow)
All from her hard earned money and savings in the last few working years.
Let me share my experience....
I quit my job 2+ years ago, thinking that I'll retire. At that time, I had 2 investment properties, leveraged at about 70% LTV with positive cash flow + 1 mil+ in high dividend stocks+reits. Thought the dividend income is sufficient for my daily expenses (for 1) and the properties will pay for themselves plus hedge against inflation.
The "retirement" didn't last very long... attended an interview for a related job out of curiosity... One thing led to another... My "retirement" lasted 3 months to be exact....
Employment this time round had a big difference.... I'm not doing it for money... Not that the money is bad, it has never been better... the key is achieving financial independence, rather than 'retirement' per se. The best part is, my boss knows this too. So we have this mutual understanding, that I'll quit anytime when a) I don't contribute enough anymore, b) I don't get satisfaction in what i'm doing and c) i get bored.
Fast forward to today.... With the income from employment + dividends + rental, I managed to acquire another 2 properties. The rise in property prices made my LTV even lower. So I'm in a stronger position to retire.... But that doesn't mean I'm going to do it... yet....
And who knows for how long....
Let me share my experience....
I quit my job 2+ years ago, thinking that I'll retire. At that time, I had 2 investment properties, leveraged at about 70% LTV with positive cash flow + 1 mil+ in high dividend stocks+reits. Thought the dividend income is sufficient for my daily expenses (for 1) and the properties will pay for themselves plus hedge against inflation.
The "retirement" didn't last very long... attended an interview for a related job out of curiosity... One thing led to another... My "retirement" lasted 3 months to be exact....
Employment this time round had a big difference.... I'm not doing it for money... Not that the money is bad, it has never been better... the key is achieving financial independence, rather than 'retirement' per se. The best part is, my boss knows this too. So we have this mutual understanding, that I'll quit anytime when a) I don't contribute enough anymore, b) I don't get satisfaction in what i'm doing and c) i get bored.
Fast forward to today.... With the income from employment + dividends + rental, I managed to acquire another 2 properties. The rise in property prices made my LTV even lower. So I'm in a stronger position to retire.... But that doesn't mean I'm going to do it... yet....
And who knows for how long....
Very brave. LTV 70% can quit.. I will wait for my own stay to fully pay off then consider financially free to do what I desire.
Let me share my experience....
I quit my job 2+ years ago, thinking that I'll retire. At that time, I had 2 investment properties, leveraged at about 70% LTV with positive cash flow + 1 mil+ in high dividend stocks+reits. Thought the dividend income is sufficient for my daily expenses (for 1) and the properties will pay for themselves plus hedge against inflation.
The "retirement" didn't last very long... attended an interview for a related job out of curiosity... One thing led to another... My "retirement" lasted 3 months to be exact....
Employment this time round had a big difference.... I'm not doing it for money... Not that the money is bad, it has never been better... the key is achieving financial independence, rather than 'retirement' per se. The best part is, my boss knows this too. So we have this mutual understanding, that I'll quit anytime when a) I don't contribute enough anymore, b) I don't get satisfaction in what i'm doing and c) i get bored.
Fast forward to today.... With the income from employment + dividends + rental, I managed to acquire another 2 properties. The rise in property prices made my LTV even lower. So I'm in a stronger position to retire.... But that doesn't mean I'm going to do it... yet....
And who knows for how long....
Thanks for sharing. I wanna be like u bro.
But my retirement lasted over a year already... And the employment outlook just released is gloomy.
wah impressive but what are her plans after that?
A few possibilities; get married & have kids, further study if don't wan to pay fees can get scholarships for Phd, start something interesting that's not capital intensive?? Cannot b retire "like 60 yr-olds" to do nothing rite...
This kinda gal will be in demand by doctors and entrepreneurs ..hehe..
they earned.. she invest..
Thanks for sharing. I wanna be like u bro.
But my retirement lasted over a year already... And the employment outlook just released is gloomy.
What industry were u from and what type of job?
Industry gloomy or u choosy?
If a large chunk of her income comes from tax free gains, then will there be a problem if she wants to secure a loan in future?
as usually the bank will want to look at the income tax.The father is the banker :D
Very brave. LTV 70% can quit.. I will wait for my own stay to fully pay off then consider financially free to do what I desire.
Own stay already taken care off.... 2 property purely for rental/investment then. The plan was if it gets ugly.... Sell one....
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