Read Reaching 55 soon. Another pay cut!
Now, the better part of reaching 55
The Last Investing Goal
Reaching 55 soon in Sep 2011 and it means that I have successfully completed my investing goal for Kids' University fund and now left with the last investing goal for Retirement.
Another good news of reaching 55 is that I no longer need to have any saving goals since I have unlocked money in CPF OA into Cash. It will be the ever largest cash reserve in my lifetime since I have no Bank of Papa or Bank of Mama behind me and not a high income earner too. I am too lazy to monetize my weekends and spare time into cash. So the only option available to me to Financial Independence is through investment. I have chosen investing in stocks and local stock market only. The investing journey is a long one and some painfully experiences along the way and that is the truth that I personally encountered; but unlike what I read in the paper ads that investing can be made easy.
The Last Mile Investing Journey
The last mile in my investing journey may be the most dangerous one as I definitely have no more opportunity to recoup any big losses. I will have to be even more cautious in my portfolio and money management. No more second chance hor!
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Hi CW8888,
ReplyDeleteWhat is your definition of 'high income earner'? Wishing you success in the last mile (100k) of your investing journey!
Cheers
HK
This is how I know. LOL
ReplyDeleteAre you one of high income earners in 2009 in Singapore?
Quote "Another good news of reaching 55 is that I no longer need to have any saving goals since I have unlocked money in CPF OA into Cash."
ReplyDeleteI thought this does not apply to us now cos cannot withdraw all and have CPF Total Minimum Sum.
Hi CW,
ReplyDelete"The last mile in my investing journey may be the most dangerous one as I definitely have no more opportunity to recoup any big losses. I will have to be even more cautious in my portfolio and money management. No more second chance hor!"
This is classic wisdom/advice from many investment books i have read. May i add another one: "Is it necessary to take the risk? You don't have to take it if not necessary. Another words, since you have accumulated some "wealth" and reaching "middle age of 55"(living to age 80+ is the norm now), we should switch our style of investment to "capital-preservation" more than "capital-expansion".
But let me share with you because of this change of mind-set, I have missed making another capital gain 90K to 100k easily. But I can sleep soundly. It's O. K. I still make some money.
I like to remember what you said,
"No more 2nd chance hor!" is very important.
But i like to think it's because of our time limit and our very fast depreciating human capital. If we are running our own business then it may be different or we are so wealthy that we are investing for our descendants.
Anyway, we still have to invest enough in the stock markets to ensure inflation don't send us to the "poor house" due to our living too long on this earth. i wish i know when i leaving then i know i will never run out of money. Ha! Ha!