Aug 7 2009, 03:56 AM
QUOTE(danmooncake @ Aug 6 2009, 09:46 PM)
IMO, one cannot just live off trading when you're retire at around 40-50 when you have no monthly income nor even EPF supplements. You cannot predict the market any money in the market, one must be willing to lose it all.
Worse still, if you are still supporting your family.. your kids education will double what your parents had paid for yours.
When you're in retirement age, this is the time when you actually needs to BACK OFF from trading stocks and pull majority of your assets into safer investments like fixed income deposits, bonds, gold, etc..
Trade or Invest in stocks now.. not when you're much older.
Continue to work till max age to get full retirement package or pension (if you're govt servant) like 55-60.
Oh well. who cares anyway, right?.. The world economy is going to collapse in two years anyway.
How very true, I totally agree that you cannot depend solely on trading or reaping dividends when you retire especialy in Malaysia. But it may be possible if you want to live alone with no family Worse still, if you are still supporting your family.. your kids education will double what your parents had paid for yours.
When you're in retirement age, this is the time when you actually needs to BACK OFF from trading stocks and pull majority of your assets into safer investments like fixed income deposits, bonds, gold, etc..
Trade or Invest in stocks now.. not when you're much older.
Continue to work till max age to get full retirement package or pension (if you're govt servant) like 55-60.
Oh well. who cares anyway, right?.. The world economy is going to collapse in two years anyway.
....true, to each his own choice. When I first started working, I too set a target retirement age by mid 40s by working my butt off in one of the best paying job
in the O&G sector. Then after you get married, have a small family, you tend to think about education funds, medical insurances for yourself and spouse, and well, a nice big house to live in. On top of that, of course you want to lead a better quality of life, ie annual overseas holidays, private school for the children, medium quality cars (not luxurious!), quality food or even possibly buying a holiday home. And not to mention, we Malaysians are close with our families, sometimes we may be called to help out our siblings or relatives who suffered lost of income due to accidents, sickness, deaths etc.. If you retire early and concentrate solely on stock tradings, there is a high possibility that your income from stocks might not match the salary you bring home in years to come. And any unexpected episode may require you to dip into your golden nest and bear in mind, from 40 yrs to 80 yrs is a long, long period.
It is very good to set a target but be brave to make adjustments depending on your priorities in life ie family and quality of life.
World economy collapsing in two years, no way. Just saw in CNBC last night Oct 09 will be like Oct 08, market correction and lots of sellin, so now must collect bullets and wait for Oct
Enough rambling....just my 2 cents.
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