Early retirement with monthly 10k passive income? POSSIBLE?

[CondoWE]

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.... .

[buttercarp]

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!

[Laguna]

so what your girl gonna do? 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...

[PN]

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...

[Laguna]

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

[chestnut]

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.

[chestnut]

thx you for your suggestion.
look ideal to me.
hope to have this plan from 2013 onward..

I tot u young rite?

[PN]

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.

[Laguna]

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....

[roly8]

I tot u young rite?

yea...but i can work anywhere as long as there is internet..

[focus]

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]

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.

[chiaberry]

Hmmm....so many Singaporeans retiring. What happens if the rental market in Singapore collapses?

[chiaberry]

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]

Hmmm....so many Singaporeans retiring. What happens if the rental market in Singapore collapses?

go back to full time job

[DC33_2008]

I have different strategy. Accumulate enough $ to prepare for correction and buy more fire sale developments to have quantum leap in wealth.

go back to full time job

[roly8]

I have different strategy. Accumulate enough $ to prepare for correction and buy more fire sale developments to have quantum leap in wealth.

greed have no boundary...

[DC33_2008]

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...

[Lovelle]

Drive taxi also fun.

[howgozit]

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

[sherlock]

Hmmm....so many Singaporeans retiring. What happens if the rental market in Singapore collapses?

Can go be a dish-washer Decent pay as well

[Laguna]

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 . !

Personnally feel that as years pass by, age increasing and health deteriorate, it is not bad to retire earlier and enjoy life lo . 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 ...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,

[chestnut]

yea...but i can work anywhere as long as there is internet..

Oh ya, remember u say u in IT. U in software, hardware or underware biz. Joke ah for last item.

[Allthepies]

I have different strategy. Accumulate enough $ to prepare for correction and buy more fire sale developments to have quantum leap in wealth.

i like ur idea : ) but with only passive income will bank lend me money? : )

[phantom_opera]

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

[nav14]

I have different strategy. Accumulate enough $ to prepare for correction and buy more fire sale developments to have quantum leap in wealth.

What if a meaningful correction never comes?

[roly8]

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]

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

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]

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

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]

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

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



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 ...