My Retirement Plan At 35

[Bibi]

A few things to consider.
3)U going to reinvest your dividend? 6-8% div may not be enough 30yrs later.

Not enough is it due to inflation? This one i think not that bad? I have this thinking that monopoly companies' revenue/profit usually rise in tandem with inflation and hence the dividend.

[KopiKat]

Not having something to do on a day-to-day basis can be very boring. People continue working because they wanted to be engaged socially, emotionally, be rewarded financially, etc. In other words, being a part of society keeps you sane and healthy.

This part sounded very much like what LKY said many moons ago...

IMO, many continue working cos' they don't have a choice ie. they need the working income to pay bills. In such cases, the above is just used as a noble excuse for continuing to work. Others, like LKY continues working cos' they are so used to the Power they enjoy. Take away the Power.. and like Marcos or any other dictators, they quickly succumb to illness and dies.. How sad... The prophecy comes true...

The more $$ you have, the more choices you enjoy. No way you're going to get bored with nothing to do. I also don't see why one need to continue working just to get engaged socially and emotionally. Don't you have friends outside of work? No relatives you can talk to? Can't make new friends?? Can't just strike up a conversation with anyone you don't know?? If that's the case, I think better brush up your social skill then! The part about being rewarded financially I can understand. But then again, if you're financially free, that part shouldn't hold you back and chain you to a job you don't enjoy.

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p/s To the other posters above, any similarities in my username to other forumers is purely coincidental.

The resemblance is very striking cos' your CNA namesake also posed the same question some years back in CNA forum (at least twice) with a very similar set of background.

[Jared Seah]

Hello Jan,

Welcome on board!

I have been on "sabbatical from work" for 6 months now. Left my last corporate job at 44 years young last Dec after my 2nd tour of duty working overseas.

Other than the first 2 months where I got a bit "lost" with the lack of routine in my life, I've since settled down and realised that there's lots to do when you have no job to "escape" to

You may want to talk to friends who are full-time stay at home dads or moms for the other perspective. Try telling them what they do have no meaning! LOL!

Not everyone defines himself/herself from a job title.

Since I am muddling through and learning as I go along myself, I can't give you advice. But I can share what's close to my heart when I made my decision:


1) Unless you got your 1 million through lottery or pure dumb luck, money will be the least of your concern. If you can amass money the first time round, if for whatever reasons you lose it, you can earn it back the next time round too. Trust in yourself.

Financial literacy is like riding a bicycle.


2) You know what you don't like and don't want to do. This you have shared. But what's the "one thing" you like to do?

If you know this answer, surely it will drown out the "frowns" and "disappointments" you may face

Those who matter don't mind; those who mind don't matter.

If you don't know what's your "one thing", may I suggest this movie: City Slickers.


3) Be mindful of what if tomorrow never comes?


Cheers!
Jared - Singapore Man of Leisure

[Janjansen]

If u can amass 1milo now, why not make it 3 milos to be safe? safety factor of 3 should be sufficient!
More $ is helpful, especially for elderly parents... and who knows! a nice gal might come along and u will fall in love!

and love is definately more rewarding/fufilling than RETIREMENT!

of cos love also comes with it's PRICE...marriage, family, kids...which are PRICELESS in positive ways!

The list goes on...

Maybe slow down ur pace of life by 50% or convert to part-time job? and see how it goes?

Most of the 1mil was accumulated over three years when I worked as an investment banker, the bonuses was particularly generous in the good years and so was the retrenchment package during the financial crisis. However, I never fitted into the investment banking world. It is the norm for my colleagues to drive only continental cars, but I stuck with my Toyota. They dine in restaurants and have wine with every meal, I continued eating at food courts. The professional also have some of the most extravagant and greedy people who think they are god's gift to the world. It is just not for me. Going forward, I can never accumulate wealth at that pace as I will not go back to that life. I saved aggressively for those three years just so I can get out. Today, I have a better work life, but it is still more of the same, albeit at a slower pace. I am still slogging away 5 days a week and enduring the daily commute and traffic jams. It is getting old.

More importantly, money is just a means to an end. It suffers more diminishing marginally utility like everything else. I believe that beyond what is necessary for a decent living, it will not make you a happier individual. It is a necessary condition for happiness, but not a sufficient one.

---

Hello Jan,

Welcome on board!

I have been on "sabbatical from work" for 6 months now. Left my last corporate job at 44 years young last Dec after my 2nd tour of duty working overseas.

Other than the first 2 months where I got a bit "lost" with the lack of routine in my life, I've since settled down and realised that there's lots to do when you have no job to "escape" to

You may want to talk to friends who are full-time stay at home dads or moms for the other perspective. Try telling them what they do have no meaning! LOL!

Not everyone defines himself/herself from a job title.

Since I am muddling through and learning as I go along myself, I can't give you advice. But I can share what's close to my heart when I made my decision:


1) Unless you got your 1 million through lottery or pure dumb luck, money will be the least of your concern. If you can amass money the first time round, if for whatever reasons you lose it, you can earn it back the next time round too. Trust in yourself.

Financial literacy is like riding a bicycle.


2) You know what you don't like and don't want to do. This you have shared. But what's the "one thing" you like to do?

If you know this answer, surely it will drown out the "frowns" and "disappointments" you may face

Those who matter don't mind; those who mind don't matter.

If you don't know what's your "one thing", may I suggest this movie: City Slickers.


3) Be mindful of what if tomorrow never comes?


Cheers!
Jared - Singapore Man of Leisure

Hello Jared

Would it be fair to say that your sabbatical has generally been a positive experience, compared to the 8-5 routine? From reading your posts, it appears that you are spending your time in gainful and / or fulling ways

[Jared Seah]

Jan,

My original plan was to travel starting with 3 months out of the year and increasing it to 6 months in a year. It's an inspiration from a HK man of leisure that I met in Warsaw. He spends 9 months on the road and holiday to him is the 3 months back in HK.

Life never goes as what we plan.

Mom got sick and this August she will have her 3rd surgery. But I am so glad I can now be full-time caregiver to her! Imagine the guilt I would feel if I were on my 3rd tour of duty in Europe?

Positive? To me timing couldn't be better! Even though it's not what I've planned. Isn't that the beauty of life?

Boring? That's knowing what exactly will happen to you tomorrow

I wish you lots of surprises and experiences that you least expected!

To me freedom is the ability to make choices.

Mom will get better. My wanderlust may fade one day. Who knows what I will like 2 years from now? Who cares?

I go with the flow now.

No more 5 year plans. No more KPIs. No more MBOs.

My 2 months of "lost" was the cold turkey to exorcise the "too much planning and too little action" poison in me.


P.S. In my blog, there are other 2 bloggers who are now full-time investors who got financially free before 40. If you need advice on money matters, just email me and I will share their blog address.

I am more a cheerleader of the soul and heart. And a pretty face!

[paullow]

Jan,

My original plan was to travel starting with 3 months out of the year and increasing it to 6 months in a year. It's an inspiration from a HK man of leisure that I met in Warsaw. He spends 9 months on the road and holiday to him is the 3 months back in HK.

Life never goes as what we plan.

Mom got sick and this August she will have her 3rd surgery. But I am so glad I can now be full-time caregiver to her! Imagine the guilt I would feel if I were on my 3rd tour of duty in Europe?

Positive? To me timing couldn't be better! Even though it's not what I've planned. Isn't that the beauty of life?

Boring? That's knowing what exactly will happen to you tomorrow

I wish you lots of surprises and experiences that you least expected!

To me freedom is the ability to make choices.

Mom will get better. My wanderlust may fade one day. Who knows what I will like 2 years from now? Who cares?

I go with the flow now.

No more 5 year plans. No more KPIs. No more MBOs.

My 2 months of "lost" was the cold turkey to exorcise the "too much planning and too little action" poison in me.


P.S. In my blog, there are other 2 bloggers who are now full-time investors who got financially free before 40. If you need advice on money matters, just email me and I will share their blog address.

I am more a cheerleader of the soul and heart. And a pretty face!

Hi there,

could u share with me their blog address too?

I am also in the midst of "career turning"
-i am 37 this yr.
-studied hard, went to good schools, end up at elite faculty in local U.
-built a successful biz from scratch(but hardly from knowledge gained in schools)
-have two private properties, rental from one paying for nearly both mortgages.
-no car loan
-income from business $450kpa.
-income tax $50kpa
-annual expense about $100k
-stock value at $600k, annual stock growth $90k
-cash in bank $300K
-spare cash reserve $500k

----directionless at age 37??? feels lost and perplexed at times
too young to retire
unwilling to take back seat for now and use excess time to play golf? run marathons? GO CASINO??
what will children think? father a loafer? father jobless?

these are practical considerations.

[Jared Seah]

Paul,

Done! Check your email.

I like the way you express your situation in such a clear manner

http://singaporemanofleisure.blogspot.sg...money.html

I don't like percentages and other statistical tricks.

[CityFarmer]

...

Life never goes as what we plan.

Mom got sick and this August she will have her 3rd surgery. But I am so glad I can now be full-time caregiver to her! Imagine the guilt I would feel if I were on my 3rd tour of duty in Europe?

Positive? To me timing couldn't be better! Even though it's not what I've planned. Isn't that the beauty of life?

Boring? That's knowing what exactly will happen to you tomorrow
...

I wish i did the same for my mum, but life is a one-way trip, there is only room for regret if you miss it.

I am fully apprehends the significance of "Imagine the guilt I would feel if I were on my 3rd tour of duty in Europe?"...

[Thriftville]

Janjan, if I were you, I would take up a job that's less demanding. Then, use my free time to pursue my passion. Things that you find meaningful now, may not be meaningful later. Human may grow bored over things. It's better to keep a few stuff that allows you, to grow your knowledge, finance, happiness, etc. In short, a balance.

Hope it helps!

[KopiKat]

...

Life never goes as what we plan.

Mom got sick and this August she will have her 3rd surgery. But I am so glad I can now be full-time caregiver to her! Imagine the guilt I would feel if I were on my 3rd tour of duty in Europe?

Positive? To me timing couldn't be better! Even though it's not what I've planned. Isn't that the beauty of life?

Boring? That's knowing what exactly will happen to you tomorrow
...

I wish i did the same for my mum, but life is a one-way trip, there is only room for regret if you miss it.

I am fully apprehends the significance of "Imagine the guilt I would feel if I were on my 3rd tour of duty in Europe?"...

IMO, there'll always be room for guilt and regrets, especially in this fast pace country, where many here have to juggle between work and family and not many bosses are that understanding when it comes to your family needs...

Altho' I was around for my mum and took shifts with my sis (she quitted her job) to provide 24-hr care during the final stages of her life, I still wished I had spent more time with her during her last few years of her life, instead of being regularly overseas on biz trip, doing night classes to upgrade myself and being so immersed in my work.