My Retirement Plan At 35

[momoeagle]

Let me share my thoughts and deeds

Basically, I have just resigned from my full-time job.

I'm 29, and my financial status at the moment is
$260k in equities yielding on average 6%, around $1.3k per month
$30k invested in tuition business
$20k cash
No car, no property

I have no debt at the moment, but a 5-rm HDB is coming soon and marriage is probably next year, and kids probably 2 years after. All these cost $$. I don't plan on being single :x

After about 1.5 months of resigning, my time isn't spent on lazing around staring at the ceiling, nor do I lead a retired lifestyle. I'm working hard, and will be working harder, on my calling in life, which is to help improve the mathematics and physics levels of students in Singapore. I like teaching a lot, but definitely not in a school environment after I heard multiple horror stories of how Singapore schools are like. At tuition, I get to experiment and research with my ways of teaching, of training, and of preparing the students for the exams. I severely disagree with the ways most schools teach their students certain topics, hence I researched and formulated some of my own methods.

Am I financially free? I don't think so. To me, the advantage of being financially free is to be able to do what you want or desire. But do u really need to be financially free for that? Not really if what you really want to do can feed you. I really like the teaching, and it can feed me quite a bit at the moment, and in fact, I'm earning more this month than what I could at my previous job.

How do I know what I really want or like to do? If I have all the $$ in this world that I need, I would gladly teach tuition for free! I would gladly create powerful revision materials for students for free! But right now, I would have to charge a price for I need to feed myself, and ensure fellow tutor friends have sufficient to feed themselves too.

An 8 to 5 job may bring stability, but for what I am doing, the job is not merely 8 to 5; it's 24/7. Active teaching hours is only 20 hours a week, but the rest of the hours are spent creating better materials, as well as sourcing for advertising opportunities as well as creating the fun element for students to relieve them of the stress they face at schools. [One of the differences between a good tutor and just-another-tutor in a group tuition environment is the materials.] Even when sleeping, I dream of how to have that X-factor, or to have something special, to make students tick, and start liking and having confidence in the subjects I teach.


However, income is definitely not regular. Which is where dividends come in to supplement. But hey, I get to choose how I want things to be done, and how I want lessons to be conducted. Like what Steve Jobs said, we make the decisions, and if we are wrong in our decisions, [customers won't buy our products].


Emergency cash is overrated. It's the ability to fish that is more important; you don't need to be employed by anyone other than you to earn that money for feeding.



Ok ranted enough :x

[Jared Seah]

Thumbs up momoeagle!

I wish you all the best in your new phase in life - taking responsibility for your own future

http://singaporemanofleisure.blogspot.sg...-neck.html

Money is never the shackle that ties us down.

[Janjansen]

My views on the eight to five worklife routine has not changed - it is paid slavery. Everything from the daily commute on the crowded transport system, lunch hour squeeze and unhealthy sedantary lifestyle of being stuck in a tiny cubicle for 80% of one's waking hours. And at the end of the day, you are just a statistic to the company, to be trimmed down during the next cost cutting exercise. However, having some cash buffer does make the situtation more tolerable. I no longer "need" the job to pay my next bill, it becomes a choice rather than a neccessity. This is a subtle but important difference. It does ease the pressure to perform and score a fat bonus at year end. In fact, I am quite content to be an average performer and leave work earlier everyday.

I can't help but comment that your views on working life as in 9-5 are rather extreme (using the term "paid slavery").

After all, every country and city needs productive workflow, and office work contributes to this in every tiny way. As a paid employee, you do get certainty of cashflows, a purpose (goals and objectives), something to do daily and also social interaction (with colleagues). Though one may see it as a form of "slavery" in the sense that you NEED the job or else you'll go hungry, there are other ways to appreciate the 9-5 worklife.

I for one have been going through the drudgery of 9-5 worklife and I admit I don't relish the idea of going to work daily, but there are some aspects of my job which I enjoy and I do look froward to new challenges everyday.

I can imagine that if I did not have a job, I'd have to find something else to occupy my time and that may be a challenge in itself.

That said, it's a personal view and I am glad you shared yours.

To each his own. I can certainly relate to the socialisation aspect, it does allow you to meet and interact with people from divest background and culture. Mine is an especially international organisation where as a Singaporean, I am a minority. Without the job, I would not have crossed path with them. However, I consider these people to be colleagues or business contacts. They are not "friends" whom you can count on when the going gets rough.

---

Let me share my thoughts and deeds

Basically, I have just resigned from my full-time job.

I'm 29, and my financial status at the moment is
$260k in equities yielding on average 6%, around $1.3k per month
$30k invested in tuition business
$20k cash
No car, no property

I have no debt at the moment, but a 5-rm HDB is coming soon and marriage is probably next year, and kids probably 2 years after. All these cost $$. I don't plan on being single :x

After about 1.5 months of resigning, my time isn't spent on lazing around staring at the ceiling, nor do I lead a retired lifestyle. I'm working hard, and will be working harder, on my calling in life, which is to help improve the mathematics and physics levels of students in Singapore. I like teaching a lot, but definitely not in a school environment after I heard multiple horror stories of how Singapore schools are like. At tuition, I get to experiment and research with my ways of teaching, of training, and of preparing the students for the exams. I severely disagree with the ways most schools teach their students certain topics, hence I researched and formulated some of my own methods.

Am I financially free? I don't think so. To me, the advantage of being financially free is to be able to do what you want or desire. But do u really need to be financially free for that? Not really if what you really want to do can feed you. I really like the teaching, and it can feed me quite a bit at the moment, and in fact, I'm earning more this month than what I could at my previous job.

How do I know what I really want or like to do? If I have all the $$ in this world that I need, I would gladly teach tuition for free! I would gladly create powerful revision materials for students for free! But right now, I would have to charge a price for I need to feed myself, and ensure fellow tutor friends have sufficient to feed themselves too.

An 8 to 5 job may bring stability, but for what I am doing, the job is not merely 8 to 5; it's 24/7. Active teaching hours is only 20 hours a week, but the rest of the hours are spent creating better materials, as well as sourcing for advertising opportunities as well as creating the fun element for students to relieve them of the stress they face at schools. [One of the differences between a good tutor and just-another-tutor in a group tuition environment is the materials.] Even when sleeping, I dream of how to have that X-factor, or to have something special, to make students tick, and start liking and having confidence in the subjects I teach.


However, income is definitely not regular. Which is where dividends come in to supplement. But hey, I get to choose how I want things to be done, and how I want lessons to be conducted. Like what Steve Jobs said, we make the decisions, and if we are wrong in our decisions, [customers won't buy our products].


Emergency cash is overrated. It's the ability to fish that is more important; you don't need to be employed by anyone other than you to earn that money for feeding.



Ok ranted enough :x

Thanks for sharing, it is good that as your pursue your passion for teaching, it is also your source of income. Arguably, you will never spend a single day of your life working because as you said, you would be doing it anyway regardless of the money. This is an optimal situtation - and by optimal, it doesn't mean it will be easy and smooth sailing, but challenging in a fulfilling way.

You could have taken the easy path with a routine eigth to five job, but you choose to live your life instead of merely exisitng as a drone worker. Respect!

[CityFarmer]

Let me share my thoughts and deeds

Basically, I have just resigned from my full-time job.

I'm 29, and my financial status at the moment is
$260k in equities yielding on average 6%, around $1.3k per month
$30k invested in tuition business
$20k cash
No car, no property

I have no debt at the moment, but a 5-rm HDB is coming soon and marriage is probably next year, and kids probably 2 years after. All these cost $$. I don't plan on being single :x

After about 1.5 months of resigning, my time isn't spent on lazing around staring at the ceiling, nor do I lead a retired lifestyle. I'm working hard, and will be working harder, on my calling in life, which is to help improve the mathematics and physics levels of students in Singapore. I like teaching a lot, but definitely not in a school environment after I heard multiple horror stories of how Singapore schools are like. At tuition, I get to experiment and research with my ways of teaching, of training, and of preparing the students for the exams. I severely disagree with the ways most schools teach their students certain topics, hence I researched and formulated some of my own methods.

Am I financially free? I don't think so. To me, the advantage of being financially free is to be able to do what you want or desire. But do u really need to be financially free for that? Not really if what you really want to do can feed you. I really like the teaching, and it can feed me quite a bit at the moment, and in fact, I'm earning more this month than what I could at my previous job.

How do I know what I really want or like to do? If I have all the $$ in this world that I need, I would gladly teach tuition for free! I would gladly create powerful revision materials for students for free! But right now, I would have to charge a price for I need to feed myself, and ensure fellow tutor friends have sufficient to feed themselves too.

An 8 to 5 job may bring stability, but for what I am doing, the job is not merely 8 to 5; it's 24/7. Active teaching hours is only 20 hours a week, but the rest of the hours are spent creating better materials, as well as sourcing for advertising opportunities as well as creating the fun element for students to relieve them of the stress they face at schools. [One of the differences between a good tutor and just-another-tutor in a group tuition environment is the materials.] Even when sleeping, I dream of how to have that X-factor, or to have something special, to make students tick, and start liking and having confidence in the subjects I teach.


However, income is definitely not regular. Which is where dividends come in to supplement. But hey, I get to choose how I want things to be done, and how I want lessons to be conducted. Like what Steve Jobs said, we make the decisions, and if we are wrong in our decisions, [customers won't buy our products].


Emergency cash is overrated. It's the ability to fish that is more important; you don't need to be employed by anyone other than you to earn that money for feeding.



Ok ranted enough :x

It needs lot of courage to pursue a dream, especially you are getting marry, just bought a house and expecting kid(s) in near future. My respect to you.

[Temperament]

[quote][quote='momoeagle' pid='28593' dateline='1342498858']
Let me share my thoughts and deeds



Emergency cash is overrated. It's the ability to fish that is more important; you don't need to be employed by anyone other than you to earn that money for feeding.[/quote]

Unquote:
3 Cheers to you. i believe the same as you. i always tell my wife even if i have to be a hawker, i will keep on trying to experiment to be the best hawker around. In other words give your best in whatever you do, people can differentiate you know. Also it's the law of nature (GOD's), you reap what you sow. So shall it be the same in investing or investment and money management? In fact, shall it be the same for everything in life?
Shalom.

[Musicwhiz]

Hi Janjansen,

Yeah, I agree on that - colleagues are there just for idle chatter, casual talk. You really can't share your deep secrets or personal problems with them. For that, you need close friends; therefore a good social circle is still very important to retain some sanity.

That said, if one was unemployed, it makes it quite hard to interact with friends too as they are busy with their lives and work. For myself, I find that I have time to catch up with friends for lunch as quite a few work near me.....so for my case I guess it helps me to keep in touch with them somewhat.

It's more of the social aspect of work which I enjoy. Work itself is mundane and yes I do wish I had the choice of whether to do it or not (but currently, I don't). Haha.

[hongonn]

All these discussion lead me to recall this person speech, i guess his speech has answered most the questions asked in this thread.

http://news.stanford.edu/news/2005/june1...61505.html

I believe most of you has read his speech before.

[KopiKat]

All these discussion lead me to recall this person speech, i guess his speech has answered most the questions asked in this thread.

http://news.stanford.edu/news/2005/june1...61505.html

I believe most of you has read his speech before.

Yes, a very great speech and very relevant. I extract from each story,

1. Again, you can't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.

2. You've got to find what you love. And that is as true for your work as it is for your lovers. Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it. Don't settle.

3. Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma — which is living with the results of other people's thinking. Don't let the noise of others' opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.

[Thriftville]

I read from somewhere that a lovable job usually include:

1. Autonomy - Freedom to choose what you wanna do. We human like a freedom of choice
2. Mastery - Something that you can get more skillful over time. We feel happier when we learn new stuff, and when there's progress.
3. Purpose - This is very important. Whether it's for money, for king and country or whatever reason.

Do you think it makes sense?
I believe its easier to find this kinda job, when you're running your own business.

[pianist]

hi momoeagle,
side-chat about physics since u said u specilaise in that, is it true that a returning astronaut from outer space is actually living behind earth time?