Retirement

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#11
A Talk on "Managing Your Retirement" on 17th Nov 2018, Saturday, 10am to 12 Noon, organised by “Bless Community Services” Supported by C3A Ageing Well.

Free Admission.

To register, go to this link:

https://docs.google.com/forms/d/e/1FAIpQ...g/viewform
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#12
The purpose of working for a salary is
to pay for our needs & wants.
But there is an end goal. And that goal
is to escape from the cycle of work=salary.

Imagine a life where you need not report
to a higher rank or fullfil criteria that was
decided by another person.

And still be able to afford all the needs and wants.

To retire from the cycle and to live life with as many options as possible.
That is the purpose.

What do buddies think? Huh
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#13
For some people I think they don't really know how to set goals and make purpose in life so leaving the job may cause them to be lost even though they are financially free. Always two sides to a coin imo. Adjust according to what suits and serve oneself best in life no one fit all strategy after financial freedom.

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#14
(28-10-2018, 10:17 PM)Porkbelly Wrote: The purpose of working for a salary is
to pay for our needs & wants.
But there is an end goal. And that goal
is to escape from the cycle of work=salary.

Imagine a life where you need not report
to a higher rank or fullfil criteria that was
decided by another person.

And still be able to afford all the needs and wants.

To retire from the cycle and to live life with as many options as possible.
That is the purpose.

What do buddies think? Huh

i like what you say. The main purpose of my salary is to provide me with the cash to invest for passive income. Once this passive income is sufficient, i will then decide whether i want to stay in my current job, i have a choice to sack the boss, on the other hand, i may like my job, my colleagues, the challenges in the workplace such that i decide to continue working since it is truly a pasttime so i work not because i need to but because my work can keep me occupied
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#15
There's a simple story that I summarise below:

An investment banker went on a holiday and met a fisherman fishing with his rod. Since he's on holiday the IB will provide his investment advice for free to help a downtrodden fellow raise seed money to get boats, hire people and get nets etc. The fisherman ask what for? So that he can have enough revenue to get bank loans and get large fishing ships to go deep sea fish for more expensive fish and hire more experetise and corporatise etc. The fisherman again ask what for? So he can have good numbers prepare for IPO and be very wealthy and dont have cares in the world. The fisherman again ask what for? So that he can relax and do what he wants

At this the fishermman ask: "Isn't that what I am doing now?"

I think this story is interesting. Live BELOW our means and know what we really want rather than follow the Joneses.

https://www.valuebuddies.com/thread-8457...#pid150057

(29-10-2018, 09:25 AM)money Wrote:
(28-10-2018, 10:17 PM)Porkbelly Wrote: The purpose of working for a salary is
to pay for our needs & wants.
But there is an end goal. And that goal
is to escape from the cycle of work=salary.

Imagine a life where you need not report
to a higher rank or fullfil criteria that was
decided by another person.

And still be able to afford all the needs and wants.

To retire from the cycle and to live life with as many options as possible.
That is the purpose.

What do buddies think? Huh

i like what you say. The main purpose of my salary is to provide me with the cash to invest for passive income. Once this passive income is sufficient, i will then decide whether i want to stay in my current job, i have a choice to sack the boss, on the other hand, i may like my job, my colleagues, the challenges in the workplace such that i decide to continue working since it is truly a pasttime so i work not because i need to but because my work can keep me occupied
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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#16
A shelter over our heads and enough food on our table isn't difficult in Singapore.
It is only when you try to live for someone else that you become miserable.
I drive a beat up 11yr old van(fully paid, COE renewed, no choice need a van to do some deliveries).
A few I know managed to save enough for a deposit and loan X years to get a new Merc and was happy for a day or two. They dont earn a lot, the car will take up a large part of their salary. What for? I have tried driving someone else's luxury sedan before and I dont like it at all. Comfortable? Yes but feels too bulky, great for road trips to msia, not good for cities.

Unless you find a lot of joy in something you have purchased, what is the point of spending so much money?
Do you really need to spend $800 on a bottle of wine? Will the enjoyment be several times that of a bottle of wine costing much less?
If the answer is yes, by all means go ahead. Also I know someone who loves collecting watches, his eyes light up when he speaks of them, there is a lot of joy.
A piece is at least several thousand dollars but that's besides the point, he loves his time pieces to bits so it's money well spent for him at least. Do it for the right reasons.
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#17
(29-10-2018, 01:29 PM)specuvestor Wrote: There's a simple story that I summarise below:

An investment banker went on a holiday and met a fisherman fishing with his rod. Since he's on holiday the IB will provide his investment advice for free to help a downtrodden fellow raise seed money to get boats, hire people and get nets etc. The fisherman ask what for? So that he can have enough revenue to get bank loans and get large fishing ships to go deep sea fish for more expensive fish and hire more experetise and corporatise etc. The fisherman again ask what for? So he can have good numbers prepare for IPO and be very wealthy and dont have cares in the world. The fisherman again ask what for? So that he can relax and do what he wants

At this the fishermman ask: "Isn't that what I am doing now?"

Yes, I heard of this story and like it too. But the IB does have a point too. If the fisherman is already rich to start off with, then fine, he can choose to live his life this way for as long as he wants. But if he is not rich, and assuming that he has lives his life this way from the beginning, we can safely say that he doesn’t have a comfortable reserve to fall back on. To sustain his life style, he needs to go fishing every day, rain or shine, sick or healthy. If says he is not able to fish for a few days, due to bad weather or not feeling well, then he probably will have lots of catch up on fishing when he can.

So, I guess there is no escape from hard work, if we want a good and easy life later on.
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#18
Retirement is a long journey and encompassing many aspects besides the primary consideration of having sufficient financial resources for the rest of ones’ life. Some equally important aspects include how to manage and utilize the “extra” available time, how to manage your continuous presence at home, etc.

If anyone chosen to “retire” because he/she has worked hard and earned his/her financial freedom to sustain his/her chosen and desirous but not others’ lifestyle, it doesn’t really matter whether he/she decides to continue working for a salary. With the achieved financial freedom, he/she can continue as long as he/she likes the current works with the knowing that he/she can also ditch the works anytime once the situation turns bad.
Volunteering for charitable causes, pursuing interests which are not possible in the past due to the lack of time are two most common avenues for extra available time.
Securing the buy-in of your family members on your retirement is the key to your continuous presence at home.
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#19
(27-10-2018, 10:36 AM)Retired@52 Wrote: A Talk on "Managing Your Retirement" on 17th Nov 2018, Saturday, 10am to 12 Noon, organised by “Bless Community Services” Supported by C3A Ageing Well.

Free Admission.

To register, go to this link:

https://docs.google.com/forms/d/e/1FAIpQLScczhHMfxNaXG0IrlTxzeL9WLvR_-tLJoRow4xGOeKEomzxCg/viewform


This Talk will take place be in 2 weeks' time. 
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#20
A Talk on "Managing Your Retirement" on 17th Nov 2018, Saturday, 10am to 12 Noon, organised by “Bless Community Services” Supported by C3A Ageing Well.

Free Admission.

To register, go to this link: 

https://docs.google.com/forms/d/e/1FAIpQLScczhHMfxNaXG0IrlTxzeL9WLvR_-tLJoRow4xGOeKEomzxCg/viewform


This Talk will take place be in One week's time.
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