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.

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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

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Wednesday, 2 December 2015

HOW TO RETIRE? (2)


Uncle8888 learnt from this early retiree in Apr 2010!


Thursday, 22 April 2010

Read? HOW TO RETIRE?


Four Pre-Conditions for Retirement

I retired in year 2000 at age 52. I am now 61, thus I can claim that I got more experience at retirement than most! I thought I should share my experience with mariners because I have seen too many friends and neighbours who became so bored that they have become a nuisance to their spouse and children and to others!


A few of them have solved the problem by going back to work. They were able to do so because they have a skill/expertise that is still in demand. The rest (and many are my neighbours) live aimlessly or are waiting to die – a very sad situation, indeed.


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! 
 



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



Uncle8888 has satisfied all four pre-conditions including #1 even though his youngest son will be commencing his 4-years university study next year in May 2016 at STUD instead of working; but since he has already set aside 4 x $25K FD at current $1.8% p.a. so there should be no real financial constraints at the time of his retirement . 

But, to wait for another 4 to 5 years to meet #1 is really too far away. This is where extra money can help to resolve #1 pre-condition.






 

8 comments:

  1. Hi Bro CW8888,

    Care to share more detail on #4: What will you be doing after you retire? (besides investing and blogging)

    ReplyDelete
    Replies
    1. I will spend more time and focus on personal wellness and fitness. Jogging and cycling in the morning instead of current night jog. Probably two to three hours.

      During my wife's afternoon part-time job i.e. Mon, Wed, and Fri, I will walk around the coast of Singapore. That walking trail will take a few months to complete and then followed by more walking e.g. all parks in Singapore, all this and all that. Exploring Singapore in this way is cheap and easy to past time.

      In between, I will explore overseas with my annual traveling budget and lookout for cheaper airfare.

      Of course, there will be more local shore fishing and crabbing for food.

      Should be enough activities to pass time and be active. LOL!

      Delete
  2. CW8888 : Never consider doing Qi-Gong in the park meh? You strike me as someone will do it, or you are already a Qi-gong master now? lol

    Joke aside, I think you've a great retirement life planned out just waiting for you to execute it.

    ReplyDelete
    Replies
    1. Can! Just go to the places where many peers are practicing qi-gong, u can secretly learn there lol

      Delete
  3. Point 1 mean I need another 20+ yrs to retire

    ReplyDelete
    Replies
    1. Extra assets and cash flow can shorten it so it may be much shorter than 20 yrs. :-)

      Delete
    2. Not all married have children. Likewise some is still single.

      Point 1 is only applicable to parents who have children.

      Delete

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