Not entirely true, let me try to give you an example.

My wife and I are on an epicurean adventure at the moment, spending thousands on a meal for 2 pax every month. So far, we’ve been eating our way through Michelin Starred Restaurants in Singapore

At the same time, we fly back and forth Singapore to Sydney monthly (I work a month in Singapore and rest a month in Sydney - rinse and repeat, as I’m in semi retirement) as I want to get as much time as I can behind the wheel of my 911 and Cayenne.

When we fly, we usually fly Suite or First Class, or at least Business Class.

Once we retire (in Australia) for good - we won’t have the same urge to eat our way through the restaurants because we’ve done that before, and also with age, our stomachs just can’t handle the same richness of food as well as we could in our younger selves.

I certainly won’t be flying back to Singapore monthly and instead be just enjoying my long drives to nowhere in Sydney and that will also mean a much reduced travelling bill.

Can we still afford our current lifestyle? Sure. My passive monthly income in itself is more than enough to see to that comfortably. Will we need to spend as much? We can’t even if we wanted to. The downgrade is a function of natural factors of ageing as well as the change in location as well as change in desires that come with the passage of time.

I hope I’ve made a half decent job of trying to explain my point and thanks for reading.

actually if able to achieve early retirement ; also need to find something meaningful to do to occupy the time, tho' it's enjoyable needless to join the rat race.

Bro, you read me like an open book.

This is my greatest fear and the only thing that's holding me back from calling it quits tomorrow. I need to come to terms with the fact that there is still a life to live after work.

You know, there was this EPF “pyramid scheme” concern which was already talked about during my parents’ time… and my parents are both long gone, yet the EPF is still paying out its members haha.

Because there is a explicit minimum return of 2.5% pa by gov of Malaysia.
Ie a free call option by gov
Ie Max (2.5%, whatever actual Epf return)

Enjoy the free option while it's there. Haha.

That was only a short period...back in 80s or 90s. Don't think that will ever happen again. Those people taking car loans also paying 10%+ interest. Last time tak mati pun. Now sikit sikit OPR 3% all cry mother father mother. Pandan!

We need to keep the property bubble alive.... everywhere.... 30% downpayment change all the way to 10% downpayment, then change to 5% and then 0% and maybe negative under the table...

keep rates low... inflation doesn't exist... it is all fake news.

all started from Greenspan's time, if not earlier.

On track to hit S$40k annual dividends. 

My 9M2023 Portfolio update

I think based on the discussion here, we can conclude

A 5k/mth passive would be a lean FIRE and
A 15k/mh passive would be a fat FIRE, are good amount to strive for.

That based on epf amount translates to 1 mil and 3 mil savings.

With so much disruption coming n growing recession risk, time for revision in retirement planning?

Thats what I plan, barrista FIRE.

I dont mind my job  I just want more free time. One of colleague, who retired at 60, was offered half salary but come to work only 2.5 days a week.

That is something I would consider.

Hi bro,...

I think,... leave some in EPF, bro,... don't take out all,.....

Actually I wanted to do that after 2008 but chicken out cos my funds were mostly in ASMx n it was hard to buy them back. Also at that time not so convenient to buy US stocks. So just left it there while DJIA shot up 5x. Now too old to risk that, may be can put 20% in it, or should I keep it status quo since networth is still growing every year.
Actually currently ASMx & EPF r autopilot investment n never go - ve, only need to spend time at the forum blowing water.

Hi bro,...

I think,... leave some in EPF, bro,... don't take out all,.....

YES, same too over here,... many friends preferred to continue on contract till they're not wanted anymore. No point staying at home, they say,...

But there's a downside to this,... life will still be under the ctrl of an organization,... can't travel freely, and if travelling, must return by a definite date, etc, etc,... must wake up early in the morning and be at work on time,....

Hi bro,... emm,... well, it's better to advise the young ones to work hard first and do not sway from this goal. Go out there, see the world,.... go after the big bucks, and we support them in their endeavours.

I feel it's not too good to start teaching them abt investing too early, things like making loads of money from 'investing',... things like this. Then they become complacent, thinking it's better to invest and 'shake legs', money makes money, etc,... looking at how their father did it.

Thank you for your input, bro,... we have different lifestyles,... 

My kids,... I noticed I'm not comfortable to talk abt trading, investments, etc in front of them,... I just feel it is NOT healthy. My gut feel tells me it's not good to signal these things to young people,... they will think this is a shortcut to succeeding in life.

Yeah,.. I too support them in their chosen careers,... go as far and as high-up as possible,....

The catch here is if you can win daily. It only takes a loss and you will need to double the effort to start on the positive route. If example just enter recently I think the feeling will be going to KLCC.

I do think it's better to teach them on financial wisdom.

I'm not a perfect father. 

Donald Trump said in some articles somewhere he is the best father.  ,..... I've followed him for many years since reading abt his casinos at Atlantic City. I always joked with my kids abt Atlantic City,... never knew this man would end up to be POTUS one day,.........

they have caused alot of  havoc and chaos
erased alot of money from people's portfolio
knock off people's retirement plans
causing people to lose their pensions and healthcare

seriously   
what a great job!

if i can think of one that would interest me would be ski-ing, but i am not sure if my eyes are good enough for that, or if i could learn it without hurting myself now (tho i started ice skating when i was below 12).