For me, will probably "retire" from my job at around 50-55 depending on how my investments pan out. Then I'll probably start contributing more to open source code and maybe some freelance consulting and lecturing. I'll be free from working to have a comfortable lifestyle to doing whatever pleases me.

Its the same conundrum everytime. High earners would not quit earning. Most people will always say they planned to retire at a certain age but when the time comes, and they realised the income they have been earning, there will be lots of excuses.


This post has been edited by magika: Dec 2 2019, 09:38 AM

I think you have mistaken Najib with Mahathir

The sad thing is, EVERY politician is in it for himself, never for the rakyat. Doesn't matter who... the outcome and behaviour is exactly the same. Sigh.

I know what you mean. I tried to semi-retire 5 years ago after I passed 45y of age, and failed because I thought it was premature to cut short my professional and financial potential. This time, I'm super determined not to make the same mistake.

Hopefully, in 2 years' time, my plan will be executed and I'll be posting to this forum from Sydney.

i believe you can do it

This is very true. The opportunity cost of high income earners retiring is high. Perhaps lower income earners can take solace in knowing they did not give up much. The “worst” ones are profitable business with ongoing debtors ... if they can’t find buyers for their businesses (not easy), then they have to continue to slog it out...I think for professionals, it is slightly easier in that you can reduce your consultation time, and there is no uncollected debt...still, to really fully give up 100% is not easy too, I think.. more often than not, will not be early retirement

Another major factor to retire early or not is have children or child less.

Agree. Wife and I have no children - one less variable to consider.

Yes. Kids can cause parents to delay retirement significantly , both in terms of ongoing educational expenses and also to earn as much as possible to pass on to kids. Not likely to retire if income is high in that case.

True but for the oomph a little investment indulgence



Wow so attached to it.... cant bring it to next life...


No, unlike gambling not easy to lose them all, i mean no need waste too much time
for this portion of money, get rich quick scams excluded.

I believe you might have mistaken "obligation" for "attachment". Like I said, it's not a philosophy everyone can understand - but, I come from a school of thought as follows, as taught to me by an old professor way back in medical school:

If you over-invest or over-stretch and you find yourself in need to make more money to fill up the hole you dug for yourself, you put your patients at risk. The doctor that loses money on the stock market may be tempted to over-diagnose and over-interpret a 40% calcium build up on coronary CT screening in a 45y.o as clinically life threatening and recommend a stent.

The doctor that gets asked to top up his margin calls may over-prescribe antibiotics to patients with viral infections who would have otherwise benefited from simple conservative treatment.

As doctors, we are entrusted with the well being and care and lives of patients, because of the unequal distribution of and access to information we possess. We are also beholden to do no harm to our patients. Whilst over-interpreting a 40% calcium build up and placing a stent may seem harmless, the fact that the patient, post-stent, may be put on a life-long regimen of NOACs and Clopidogrel and other blood thinners that may interfere with his normal diet and routine and other medications - that's secondary harm.

Similarly, overuse and abuse of antibiotics will breed superbugs that may end up spreading their resistance elsewhere.

Every action WILL have a ramification. I happen to be in a profession that shuns unnecessary speculation and eschews unjustifiable risks.

Your mileage may vary, obviously.

Its a really a matter of your earning capabilities. High income earners who can safely accumulate their retirement fund by their own earnings does not have to take any risk or should take any risk. Middle income earners with their projected savings who most likely could not meet their targeted amount should take more risk and worse to worse they will work until they drop.

Those who retired with achieved targetted fund should be very much risk averse in order to peacefully enjoy their retirement.


This post has been edited by magika: Dec 3 2019, 09:48 AM

My farewell post to all respected contributors,

Company approved my posting to Singapore. Gonna be foreign worker there by end Dec, n family stay back Malaysia.

Thank you all for the sharing n daring. I wish everyone a safe n meaningful journey.

THIS.

As I mentioned, I'm at the stage of consolidation and preservation of wealth. This, coupled with my naturally risk-adverse nature, is why I'm happy with my average returns of 4-5%, and I've never been tempted by the 10% or so that some have achieved.

Having said that, I will admit that I have index-tracked funds that have consistently returned 8% (when I get knocked out) - but I limit that to the funds I already put in when I was much younger (in my 40's, nearly 10 years ago). I've never added fresh capital to that portion of my portfolio, and in fact, that portion has shrunk over the last decade, from nearly 25% of my total portfolio, to about 10% today. Happy to keep it that way - itch definitely satisfyingly scratched.

Congratulations on coming over to Singapore and beginning a new journey here! Who knows, you might end up having even more time to post!

Maslow's hierarchy of needs. When earning more doesn't matter and doesn't excite you. Like your example of doctor on high margin call, they fall to the lower tier of needs. Thus for the best of your patients, your are consistently at stete of "self-actualization". Thus for those who render care as their profession, nursing, teacher and caregiver to be paid reasonably.

Money is not everything in life, although no money cannot live.

There is something called family as well.

If money is everything, no wife is even better, less one liability.
Can always change new fresh girl friend..

When you old time, and see friends' family and kids so cute, then it is like missing something in life.

I agree wholeheartedly on the fair remuneration packages for essential professions - but, not to the extent where people are tempted to get into these professions solely for the sake of good pay. Medicine, teaching, nursing - these are callings, not mere professions. I never got into medicine to become rich. I got into medicine to help patients, and in doing so, I received my fair reward. The sequence is important.

In Singapore (I'm just a PR, although I've been a pendatang here for the past 30 years), politicians use the same argument to justify their high pay packets - apparently, a high pay helps in reducing corruption. But, then Singaporeans sometime can't help but feel that these career politicians are doing it ONLY for the high pay, not for the good of the country and its citizens. So, a fine balance needs to be struck, in my opinion.

You've summarized Maslow's pyramid perfectly. I wouldn't say that I'm already at the very apex of it, but I strive and I aim to get there, hence the measured replies and consistent responses thus far.

This post has been edited by hksgmy: Dec 3 2019, 01:28 PM

There are many ways one could spend or loss substantially amount of money easily in a short time.

Congratulations, with higher income is a quicker path to financial freedom.

Provided fresh girl friends don't over spend, which is unlikely.

Adopt orphan or giving to charity could give similar happiness.