As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Saturday, 27 November 2010

Work Less and Gone Fishing Planning Room (1)

Read? HOW TO RETIRE?

Four Pre-Conditions for Retirement


You can retire only when you fulfill these 4 pre-conditions:

1. Your children are financially independent (e.g. they got jobs),
2. You have zero liability (all your borrowings are paid up),
3. You have enough savings to support your lifestyle for the rest of your life,
AND most importantly,
4. You know what you would be doing during your retirement.

DO NOT retire till you meet ALL 4 Pre-Conditions. And of course you should not retire if you enjoy working and are getting paid for it!

Countdown to Four Pre-Conditions for Retirement

Pre-condition 2 to 4 - No problems as condition 2-4 are already meet.

Pre-condition 1 - It will be fulfilled when my Endowment Life policy matured on Mar 2016. The amount should be more than enough to provide my youngest son for his university education and living expenses starting from Aug 2016 till he starts working in 2020/21.

If by taking the good advice from Mr. Cheng, I should only retire after Mar 2016 or probably the best time is at 60 (BTW, the official retirement age is 65 or 68 by the time I reach 60). In another word, it is still an early retirement for me.


But Expected the Unexpected

Ya. I am fully aware that starting from next year (55 lor), I will be in HR's name-list as part of the cost-cutting elements in the organisation to help the company to improve its bottom-line.

How do I know that I have Enough?

"The only thing money gives you is the freedom of not worrying about money." - Johnny Carson






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