Theres always dishwashing... Or cab driving.... Or cleaning. The most respected professions currently in sg.Originally Posted by howgozit
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Theres always dishwashing... Or cab driving.... Or cleaning. The most respected professions currently in sg.
Newbie
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.
Property Newbie
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....."
thx ..me will plan a trip there..hopefully next year.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 thingsMy 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 !!!
and try book a trip to tibet too..
tibet is near nepal ,right?
I took the road less traveled by, and that has made all the difference.” - Robert Frost quotes (American poet, 1874-1963)
Junior
envy those who can walk well..
please travel as much as u wish...once u have the knee problems...just too much to walk
GOD good old days
I won't retire even if I achieve financial freedom. Once you retire and play golf, travel, etc, it's downhill all the way.
Newbie
Mostly true esp if you're a type-A personality.
mutant powerpuff
Not true.
I find that people who are too free become whiny, neurotic, busybody and a nuisance to others.
Junior
that must be ME!
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Sitting at Funan food court during lunch gazing at the stressed out working crowd.... ooh la la simply enjoy. keke
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I have the 'nee' problems
very sensitive
Junior
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
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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.
Iron Man
suck it out....lol..but not me.
"Anyone who has not made a mistake has never tried anything new"
Junior
Just wondering if any bros here in their 30ies in retirement mode and what kinda passive income are they generating
Property Newbie
not possible for those early 30s....unless you got some tricks
I took the road less traveled by, and that has made all the difference.” - Robert Frost quotes (American poet, 1874-1963)
Junior
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.
Junior
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?
Junior
u make a guess....
mutant powerpuff
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.
Junior
wahaha i not very gd at guessing but IMO at least a gd 8k/mth min
Newbie
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.
Junior
many of her peers are doing at that level.
Newbie
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 kidsgoodness, 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.
Newbie
Which means making at least 50k a month? Some trading job in Bank?
Junior
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
Divine
impressive! so why is she retiring so early?
Junior
My girl told me : "Don't count my money as it is not your money."
Junior
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"
Junior
haha, that must be my son....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"
Newbie
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...
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