My Retirement Plan At 35

[mrEngineer]

Full agree! If you think something is impossible, then it's for sure impossible!
This year is my 10th anniversary of no work and no network. I have not let this huge constraint made me a lousier investor. In fact, either I'd become a lot more lucky in investing or perhaps, I now have more time to be focussed on being a lot more resourceful in digging for info, especially from the internet.

My respect goes to you and your track record. Looking from your posts on electronics industry, I think you have significant working experience at a high level or wisdom to know what is important or not. This might not be a case for young professional or those whom have not reach the kind of exposure you have before.

[CityFarmer]

There was an article on michael lewis in yesterday's papers. Although the article was mainly on the role of luck, it gave me some ideas of how investment banking was conducted in the usa. A fresh grad without much knowledge of derivatives can be hired to advise clients on investment in derivatives. One may not lose much to quit from such salesman job.

I recall one incident when i was doing a "product certification" (similar as getting HALAL logo on food, if case you are not aware). It is a new technology and specification, we had engaged a "adviser" to help us.

At the end of the day, I had realized that The "adviser" are not an expert in designing product with the new technology and specification, but he is an expert in the rules, trick, norm and work-around to get the product certification done.

I assume investment banker are expert in the financial rules, understand the norm behavior of institutional investor and retail investor, and know the work-around to avoid risks.

He/She may not necessary an expert in investing.

my 2 cts

[Temperament]

Not all information can be found from the Internet. It may be sufficient and profitable to rely on whatever you have gained from extensive research as one will be already better informed than average retail investors. For e.g. does the Internet tells you what is e character of a CEO and what is the kind of attitude he is treating his employees? Does anywhere in the Internet tells you the real reason why Capitaland CEO is resigning? Does the Internet gives you the real reason of why china has halted importing of hard commodities and suddenly started to focus on local resources. Does the Internet tells you how much off balance sheet or debt the companies load into their joint ventures or associate companies where they can do proportionate consolidation? I can go on and on but what I want to say is that if one completely stops working or networking, he or she will gradually erode his source of information that are not easily available.

Full agree! If you think something is impossible, then it's for sure impossible!
This year is my 10th anniversary of no work and no network. I have not let this huge constraint made me a lousier investor. In fact, either I'd become a lot more lucky in investing or perhaps, I now have more time to be focussed on being a lot more resourceful in digging for info, especially from the internet.

That's why we have, "As a man thinketh in his heart, so is he"
The beauty of it is only we can control our thinking. If someone does the thinking for you, it will be very sad for you.
And also that's why we have the stocks Markets.
We all think for ourselves.
And we buy or sell always thinking the other party is a fool.
So is the other thinking of us.
So you see that's how money travel round and round.
No one is actually right or wrong.
Everyone has his own way.
So am i.

[Janjansen]

There was an article on michael lewis in yesterday's papers. Although the article was mainly on the role of luck, it gave me some ideas of how investment banking was conducted in the usa. A fresh grad without much knowledge of derivatives can be hired to advise clients on investment in derivatives. One may not lose much to quit from such salesman job.

This is funny but also true. Investment banking is indeed a marketing job more than an analytical role. It is somewhat ridiculous how much the profession gets paid while adding minimal value to society.

---

It is starting to have a balance supply of views on retirement.

To avoid misalignment, i would like to make my definition of "retirement" (ops, definition again ) Retirement to me actually mean financially-free. Free of choice to do what is worthy, while you and your family is well maintained financially.

It does not mean sitting idling, total freedom at will, without any discipline in life.

Retirement for me is to have the financial freedom to live life on my own terms and to pursue my own passions at my leisure. As a salaried employee, you are stuck in a cubicle for five days a week and at least eight hours daily, doing something you may or may not be interested in. Assignments are, well, assigned to you, and you have to accomplish them whether you like it or not. Basically, the majority of your life will be dictated by company policies and your bosses instructions, not yours. The salary is to compensate you for your time and obedience. If your company decides to stop paying you a salary or cut it drastically, a lot of us will not show up to work as we will rather be doing something else.

Financial freedom frees you from the bonds of employment, and lets you be self sufficient. You can still show up for work, but it becomes a choice, not a necessity. It is one heck of a good feeling not having to depend on employer for your next paycheck.

[Jared Seah]

http://www.edvantage.com.sg/edvantage/fe...babes.html

Some say I better get more working experience.

Some say I better upgrade to a higher degree.

Some wait for all the stars to be aligned.

Some just did it already

After coming back, I am pleasantly surprised at the many young entrepreneurs running little shops, kiosks, blog shops, and what not in Singapore.

Plus you add young "salespersons" making millions in investment banking, property, insurance, seminars (a growth industry! Just look at the papers) - it's an encouraging sign.

Nothing gets handed to us on a platter.

When times are bad, investment banks are never slow to "let go" of non-performers.

Make hay when the sun shines!

[wsreader]

quote ".....If your company decides to stop paying you a salary or cut it drastically, a lot of us will not show up to work as we will rather be doing something else....."

Thanks for this perspective. Perhaps it is worthwhile to put this test to one's job. Assuming financial freedom is achieved and one's company is not paying a salary, will one still tap dance to work or will one fried one's boss cuttlefish, or is it octopus?

[etan]

Your post is interesting! Some people would have hope that they were the one qualified to make that post!

I see you are a much disciplined person. Not many people can get to where you are today at your age. You deserve a good break!

You have your own set of living standards, never up your lifestyle standards although you are able to.

I guess you are pretty tired of today’s corporate world; the inside voice tells you it’s against your own conscience.

Somehow, in today’s investment world, I feel like there are landmines all over, if not careful, may just step into one, and then lost an arm or a leg may get blown away.

Perhaps you would like to re-consider your thoughts - do it gradually.

My suggestion: Take a break, be it a few months to 1 or 2 years.

(Mind you, not many people can really afford to be off work - no work no money)

And do the things that you had very much wanted to do, try it out first and see how things go.

I am sure during this period; you will ponder over many things.

You will come back fresher.

Then sort out your next path which you want to take.

In life, sometimes we are at this juncture, not sure which way to turn.

Human beings are funny; we simply cannot have too much idle time.

Life may be quite meaningless if the resting period is too long, after all we are able-bodied people.

Also, you may not be able to adapt to your new life without work.

But don’t worry, whichever way you turn, you are pretty safe because you have a strong cash backup.

A job is just a job. Find another job, or switch line, get a much less stressed out job, no month-end targets to meet, just a salary to get by.

If not suitable, switch job again. You will find something out there which suits you.

The best is find a job where you can find time to post in this forum, thereby add more value, and we can have diversified views from across all investment fields. Hahaha, joking only…

Life is about choices. And in your situation, you have many choices, and the good thing is – you don’t have too many commitments, so less considerations.

And who knows: you may find your new path after the break.

Btw, Tan Wee Cheng is someone who loves traveling round the globe. Here we can see he is able to make it happen the way he wants his life to be, and so can you.
http://weecheng.com/

Do it while you can! No regrets in life!

Happy searching for your next new path in life!

[hongonn]

Hmm, i have much less capital than you but i quitted at 35 and it has been 2 years already. I made up my mind fairly simple, i don't calculating so many factors. I just thought to myself do i want to lead a life working 9 to 6 and repeating it over and over again, and doing something don't seem to excite me. And let it consumes me my whole life.

Thinking of doing uninspiring works for whole life is just freak me out. And i have spent working in office for 12 yrs and to me is enough and have no guilt. So i quitted without a concrete plan or what to do next. Slowly i trying up things and i end up writing small apps and freelance (i was from IT industry). It earns miserably but i enjoy what i doing and it is like creating things with my handicrafts.

Friends ask me when will i find a job. I always tell them later not so soon. And sometimes i ask myself whether i want work a job, my mind told me yucks. Haha, maybe i have no luck with my jobs, or my personality. To me it is like move on and try something new. You never know what you going to get :p

[swakoo]

Not all information can be found from the Internet. It may be sufficient and profitable to rely on whatever you have gained from extensive research as one will be already better informed than average retail investors. For e.g. does the Internet tells you what is e character of a CEO and what is the kind of attitude he is treating his employees? Does anywhere in the Internet tells you the real reason why Capitaland CEO is resigning? Does the Internet gives you the real reason of why china has halted importing of hard commodities and suddenly started to focus on local resources. Does the Internet tells you how much off balance sheet or debt the companies load into their joint ventures or associate companies where they can do proportionate consolidation? I can go on and on but what I want to say is that if one completely stops working or networking, he or she will gradually erode his source of information that are not easily available.

Full agree! If you think something is impossible, then it's for sure impossible!
This year is my 10th anniversary of no work and no network. I have not let this huge constraint made me a lousier investor. In fact, either I'd become a lot more lucky in investing or perhaps, I now have more time to be focussed on being a lot more resourceful in digging for info, especially from the internet.

mrEngineer is possibly not aware that KopiKat is the owner of an internet portal that has a ton of info on yield plays (reits and dividend stocks) in the Singapore and Malaysia stock markets as well as sovereign bonds. His portal even merited a mention by Teh Hooi Ling in one of her "Show me the Money" columns in Business times last year. Which means that a lot of info can already be found there via the virtual network instead of the human network.

[CityFarmer]

Hmm, i have much less capital than you but i quitted at 35 and it has been 2 years already. I made up my mind fairly simple, i don't calculating so many factors. I just thought to myself do i want to lead a life working 9 to 6 and repeating it over and over again, and doing something don't seem to excite me. And let it consumes me my whole life.

Thinking of doing uninspiring works for whole life is just freak me out. And i have spent working in office for 12 yrs and to me is enough and have no guilt. So i quitted without a concrete plan or what to do next. Slowly i trying up things and i end up writing small apps and freelance (i was from IT industry). It earns miserably but i enjoy what i doing and it is like creating things with my handicrafts.

Friends ask me when will i find a job. I always tell them later not so soon. And sometimes i ask myself whether i want work a job, my mind told me yucks. Haha, maybe i have no luck with my jobs, or my personality. To me it is like move on and try something new. You never know what you going to get :p

If the spirit and approach are right, it is interesting to see new careers or new paths in life are found along the way.