It all comes down to each individuals' priority imo

yes and individual's financial capability and capacity too

personally, methinks it's just like excercising / investing.
some can go all out coz they are already conditioned - mentally, physically, habits
some IF go all out, will burn out and give up fast coz their body, psyche & habits do not even meet the baseline
heck, some may even literally die - heart attack or something XD

IMHO - like in all things to improve - know thyself & improve/move at your own speed lor

This post has been edited by wongmunkeong: Nov 12 2019, 02:25 PM

Hi wongmunkeong, I am very interested in your signature Google Documents but all the links are broken. Can you help a fellow member out to access to your creations/tools/documents?

thank U for highlighting it
weird - it was working for a long time, i guess google locked down after awhile.
i've updated the links

The idea of FIRE is good but cannot be taken to the extreme... save 30% to 40% is already very good... saving 70% is extreme ....it’s got to do with marginal utility of money ... if u cut only a bit of expenses, u still enjoy the most utility on ur remaining spending... if u cut until Internet also cut, skip weddings , skip all gatherings , no eating out at all, no movies ever, no hobbies etc... then your life will be miserable

once i have such comments too in a group and some got offended by my saying.
for me, is to cut unnessecary spending but not until suffocate our self or isolating ourselves from the real world.
by having such diciplines, we able to save much and have a good balance lifestyle

How to save 30% if u have wife, children, parent, house loan, car loan, education loan to take care of?

Double income is a must nowadays unless one got big business or ceo level salary. With career progression and budgeting, then it is achievable but need a lot of sacrifice and discipline ...that is why one must address the priority early in life...wth priority sorted out, goals can be made lor.....as savings and investments become bigger, it will create a third income...

And, if got no kids.. the process is much much much easier.. like at least 50% easier..

On the other hand , if got kids and ailing parents that are finanancially dependent... it’s going to be harder ...

The alternative way of YOLO is very risky down the road...

30% of your gross salary or take home pay ?

50% of your gross salary or take home pay ?

do you guys sell stocks to take profit, or just buy dividend stock??

what if the stock price doesn't appreciate after dividend has been distributed?

Sifu, you oledi inside ASNB thread, why come here?
You shud know ASNB (ASM1) is safest investment.
I very confused lah.

All the young, makan gaji people, retirees, thinking of FI/RE???

With food inflation n low fd interest rates, no free education n need many A's to enter public U, unless you Bumi, etc,... pls don't play-play with your family n children's future.

Well, for those really unlucky - with companies downsizing as so sure Y2020 recession... maybe, FI/RE will come faster. Frightening! Sorry for the dark msg.

Now is the time to work hard n hold more tasks n responsibilities, n don't give mgmt perception you into FI/RE.... Nanti really get Fired.

If got spare money... ASM1 or any other ASNB FP funds.

Do you have an example of the stock that you just mention?

If the stock has reported good earnings and good management, there is no reason to sell unless you are going to use the money.

Sometimes dividends that you received cannot cover the loss of share price.

What leh... just wasted my data quota reading the link, the writer was talking to a couple of people in their early 30's who were lacking common sense, they were earning minimal and were just making plans to retire early by age 40, and then realised they couldn't hack it.

It would be much better interviewing people who did really retire early years before the usual mandatory retirement age of 60 or 65.

I don't think anyone has posted here any 'suffering' or 'hardship' in making fi/re possible.

To me, it's just going along with the flow of life. Be thrifty and have savings and not spending beyond our means.

If able to stop working and retire earlier when there's adequate savings, take the plunge and do it.

But many will continue working till the official retirement and as long as possible because the job and profession is an important role in their life. It is part of their identity and image and persona.

Without their occupation, they are no longer the Boss, the CEO, Mr. Manager, the person in charge, the captain, the pilot, the teacher, Mr. Lawyer, Mr. Consultant, etc. etc.

Just Mr Dad, house husband/wife and retired person.

Reality could be hugely different from plan, dream and wish. many are impractical by putting the cart in front of the horse.

I agree with you on the above.

I never tell my children abt FI/RE, never even wanted to give them an idea of this. I advised them to work hard, be thrifty and think before spending but don't undercut their lifestyles and most of all, to go out into the world and find their dreams to achieve.

My responsibitlity is to give them all the resources and opportunities possible.

Yes, I am the one as bolded in the above. Money is not everything,... after achieving money, other wants and needs will come long in life.

Sifu Hansel,
Very impressive. How to qualify as bank private client?
So, are you believe in the FI/Re stuff, or still in shares or asnb?
Thank you for sharing.
What advise to share with us wanna be wealthy ambitions?

To qualify for bank private client need >$3m aum. According to wealth report, about 0.2% of adults in this country have >$1m net worth. Hence, less than 0.1% of adults in this country could become bank private client.

This is in usd right?