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Jack Ma is Retiring @ 52 from Alibaba
Jack Ma must be reading the Value Buddies Forum and notice that I retire @ 52
Now I have 2 Gurus having common Phenomenon with me.
Warren Buffett has never own a new car before. I also never own a new car before.
Jack Ma decides to Retire@52. I also Retired@52.
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Actually Jack Ma will be 54 on Monday 10th September 2018.
“If you buy a business just because it’s undervalued, then you have to worry about selling it when it reaches its intrinsic value. That’s hard. But if you can buy a few great companies, then you can sit on your ass. That’s a good thing.” - Charlie Munger
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By my definition, being chairman of a board and receiving
fees & salary (from other directorships) is not retirement.
Its hard to let go of perks and to enjoy the recognition that tittles attract.
No meetings, no chauffeured vehicle and no first or business class travel.
Once you leave the corporate world, you will slip into oblivion.
That is raw unadorned retirement.
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1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR!
4) In BULL, SELL-SELL-SELL!
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A strategic decision and excellent timing in my opinion.
Knowing when to let go at the peak of your career is the hallmark of a true champion like MJ in basketball.
He will have more time than Bill Gates for other ventures to further his legacy. 
(Not a recommendation to buy or sell, just stating facts)
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10-09-2018, 01:50 PM
(This post was last modified: 10-09-2018, 01:52 PM by specuvestor.)
^^
I think this is similar to the quote from VB OPMI 
(09-09-2018, 03:48 PM)Porkbelly Wrote: By my definition, being chairman of a board and receiving
fees & salary (from other directorships) is not retirement.
Its hard to let go of perks and to enjoy the recognition that tittles attract.
No meetings, no chauffeured vehicle and no first or business class travel.
Once you leave the corporate world, you will slip into oblivion.
That is raw unadorned retirement.
Jack Welsh supposedly famously said he turned from Who's Who to Who's That in 3 weeks
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
Think Asset-Business-Structure (ABS)
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10-09-2018, 03:56 PM
(This post was last modified: 10-09-2018, 04:06 PM by Big Toe.)
Jack Ma drives a Roewe RX5 SUV that costs USD 15000 for the base model.
Money, perks and luxury isnt exactly his top priority. He had probably passed that stage long ago.
I too am trying to live my life with a student budget or on par with the bottom 1% of the income bracket, but with the option to spend occasionally on things that I think matters. It is not that bad actually, quite comfortable with current lifestyle. Not too difficult to do, just avoid those things that would require a huge loan/large part of your income or things that you dont enjoy that takes up too much time. Car/expensive housing/etc.
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(08-09-2018, 11:41 AM)Retired@52 Wrote: Warren Buffett has never own a new car before. I also never own a new car before.
WB owns a private jet.
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(10-09-2018, 03:56 PM)Big Toe Wrote: I too am trying to live my life with a student budget or on par with the bottom 1% of the income bracket, but with the option to spend occasionally on things that I think matters. It is not that bad actually, quite comfortable with current lifestyle. Not too difficult to do, just avoid those things that would require a huge loan/large part of your income or things that you dont enjoy that takes up too much time. Car/expensive housing/etc.
What is the income of the bottom 1%? Based on my observation, student budget can mean going to starbucks a few times a week and traveling by taxi/grab.
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10-09-2018, 11:58 PM
(This post was last modified: 11-09-2018, 11:04 AM by Big Toe.)
(10-09-2018, 10:01 PM)touzi Wrote: (10-09-2018, 03:56 PM)Big Toe Wrote: I too am trying to live my life with a student budget or on par with the bottom 1% of the income bracket, but with the option to spend occasionally on things that I think matters. It is not that bad actually, quite comfortable with current lifestyle. Not too difficult to do, just avoid those things that would require a huge loan/large part of your income or things that you dont enjoy that takes up too much time. Car/expensive housing/etc.
What is the income of the bottom 1%? Based on my observation, student budget can mean going to starbucks a few times a week and traveling by taxi/grab.
I am within the bottom 1% at the moment for sure based on monthly income, which is quite often negative. So living within that income bracket makes sense.
Come to think of it, it is quite common for students to visit cafes, take taxis/grab etc but probably the majority of them dont do that(or do they?). I almost never frequent cafes except the occasional meet up for ice cream with friends, never took taxi/Grab except to the airport. But the good thing is that I do not really need to worry about housing, food and transport, as they are largely being paid for already in my line of work.
Also on the part of Private Jets. Private jet will save precious time checking in and out of airports. Meetings and conferences can be held in a private jet so no time is wasted. Time is a precious commodity and too many people just waste it away. If a person had a high enough income to justify for it, why not? Exchanging money for time is always a good thing when you have too much of the former and not much of the later. But in Singapore whether you drive a bentley or a beat up truck, you probably arrive at the destination around the same time. You probably arrive earlier if you take the MRT as time is saved from the heavy traffic and having to look for parking.
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