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
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Sunday, 14 July 2013

HOW TO RETIRE? - Re-visit!

















Read? HOW TO RETIRE?


You can retire only when you fulfil 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!

The problem cases I know of are those who failed to meet Pre-Condition #4.


Uncle8888's Checklist:

1. Your children are financially independent (e.g. they got jobs),

Met.

No 1 and No 2 are now working.  No 3 is fully funded by Uncle8888's endowment policy matured in 2016. It is more than enough to sustain No 3 for his Uni education and living expenses till he starts working.

2. You have zero liability (all your borrowings are paid up),

Met


3. You have enough savings to support your lifestyle for the rest of your life,
AND most importantly,

Q: Should I not create a "passive" income - so that even when we are not working, there is something coming in?

Answer:

I think it’s neater to save enough money to support the lifestyle of our choice WITHOUT depending on (or expecting) any other sources of income during retirement. However, any such “income” that comes your way e.g. rent from property, dividends from shares, and money from your kids or the will of your favourite auntie, should be treated as “bonus” that could be used to pay for your “dream” list. A dream list comprises items that you would dream of doing if you got the money!


Still have some minor works in progress but no major concerns here!
 
Read? Retirement Income for Life??? (10)


4. You know what you would be doing during your retirement.


Yes and No.










9 comments:

  1. so what? still can't retire? walan!

    ReplyDelete
    Replies
    1. i think the most difficult is point no 4.

      it will make all of us unretireable! let see, waiting to die? do nothing? watch my plants grow? how to know?

      Delete
    2. those people happily retired cos they quit what they dislike to do, and start doing what they like to do.

      you and i, i don't think we can retire! cos we like what we are doing.

      Delete
  2. Must seek help from SMOL to enlighten us.

    LOL

    ReplyDelete
  3. Ha! Ha!,
    Who say you can retire? There is no such thing in life. Once you really retire, it means time for you to go, O. K.
    Fortunately i have learned about stock investments if not i may have been bored to death not retired.

    ReplyDelete
  4. CW,

    All you qian bei have your own answers.

    Don't look at me!

    ReplyDelete

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