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If you're in your mid 30s with $3 million in liquid asset, would you retire?


Guest Hanbei

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Just need to verify how you can generate sufficient income to cover living costs for the next years, potentially sixty years or more.

 

Don’t forget to factor in inflation.  

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Guest Try and see

If it were me, I won't retire. I would take a lesser paying job which gives me more free time, like maybe teaching music, giving tuition, working at Starbucks, driving Grab, etc.

 

I'll still take public transport instead of getting a car.

 

Mid-30s is really too young to retire, because your mind and body are still v strong and alert. Don't waste it.

 

Of course, as someone mentioned above, spend and invest wisely so that your money can last a lifetime.

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Retiring at mid 30's sounds interesting, but there is a catch. 

 

How do you plan to spend you time? 

 

We shall ignore the money part for this discussion.

 

Your friends will still be slaving away, so their availability will be limited.  Other retirees are most probably a couple of decades older, so there will most probably be a generation gap between them and you - so encounters with the other retirees may not be as smooth as you would like. 

 

If you were to say to them, "Let's go on a vacation, my treat" - some of your friends might feel you are throwing money at them (yes, you are) and some who don't mind may not have the leave available to go with you. 

 

Some people of your age group will need to spend time with their growing families and the pressures of having to provide for them now and save up for their future, so again, their availability will be limited. 

 

So, back to the question, how do you plan to spend your time? 

 

Guest Try and See opined he would take a lesser paying job which gives me more free time - putting it the other way round, do something that would help you fill up your time and yet give you the flexibility of being able to spend your free time. 

 

Lastly, lack of mental stimulation might lead to premature deterioration of mental faculties, so an idyllic lifestyle may actually lead to an early dementia, if not early death.

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Guest Need more
On 7/25/2022 at 7:59 PM, kidster said:

Yes! To do the things I always wanted to do but no time.

 

The book I always want to read.

 

The movie I always wanted to watch again.

 

The old friends I wish to see them one more time.


that’s not much stuff to fill fifty or sixty years tbh 

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  • 6 months later...

If he is a big spender.. 3mil less than 10yrs he will finished everything unless he knows how to preserve the capital and still survive with it.. but frankly..depends on his debts and commitment.. not a very straightforward answer 

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On 7/24/2022 at 6:33 AM, Guest Try and see said:

If it were me, I won't retire. I would take a lesser paying job which gives me more free time, like maybe teaching music, giving tuition, working at Starbucks, driving Grab, etc.

 

I'll still take public transport instead of getting a car.

 

Mid-30s is really too young to retire, because your mind and body are still v strong and alert. Don't waste it.

 

Of course, as someone mentioned above, spend and invest wisely so that your money can last a lifetime.

 

You have a good outlook on this issue. 

 

We can also say that the situation of this friend gives him an opportunity not to retire from the workforce but to find the kind of work he can be passionate about,  even if it takes some leave from work for several years to get the education he needs for the work he wants.  

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Guest Cor-relation
20 minutes ago, lonelyglobe said:

Dont have the answer to this question unless i m one of the 4 winners in next week toto 12m draw 😁

Funny question hor , retired & wealth & age got cor-relation one meh ?? 

For example how does one explains Bill Gates leh & Mark Z leh ?? 

Cant even qualify the question let alone discuss it - invalid question ! 

 

Not a very smart TS 

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Seriously, at only in mid 30’s which probably still have. Good 40-50 years to go, with just 3 millions, I don’t think your friend can retire, that 3 millions would easily depreciate to say 2-2.5 millions following the cost of living in 5-10 years. I don’t think retirement can be an option for your friend. 

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Would this below have similar analogy?

Having $3 mil when mid 30s.

Having $2mil when mid 40s.

Having $1 mil when mid 50s.

 

I should think the guy in mid 50s (having $1 mil) would be in the best position to retire.

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Guest Rich people problem

I worked this lifetime also can't earn 1 million. 

 

3milliom not enough meh? Stupid. 

 

1 million invest can already generate passive income like you have a job... 

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On 2/4/2023 at 2:16 PM, Guest Tree said:

Would this below have similar analogy?

Having $3 mil when mid 30s.

Having $2mil when mid 40s.

Having $1 mil when mid 50s.

 

I should think the guy in mid 50s (having $1 mil) would be in the best position to retire.

 

Depends what he does.

There are sufficient scientific papers, that say you are prone for dementia and other issues.

And it depends what he does.

If he drinks 2 bottles of whisky per day... then...

 

You can also spend 1 million fast with moneyboys, parties and other things...

 

It is better for keeping fit until longer age, not to retire too early, have something to do and use your brain, and stay in work.

 

People intend to work longer nowadays and not retire with 65/67 years.

 

Also think of the psychological impact, you might start to feel very lonely at early age...

 

I don't recommend anyone to retire with 50.

Sure, you can take some time off, travel, do your own stuff, but not in the long run (while the run might not be as long as you think if you refer to above).

 

 

Edited by singalion
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1 hour ago, singalion said:

 

Depends what he does.

There are sufficient scientific papers, that say you are prone for dementia and other issues.

And it depends what he does.

If he drinks 2 bottles of whisky per day... then...

 

You can also spend 1 million fast with moneyboys, parties and other things...

 

It is better for keeping fit until longer age, not to retire too early, have something to do and use your brain, and stay in work.

 

People intend to work longer nowadays and not retire with 65/67 years.

 

Also think of the psychological impact, you might start to feel very lonely at early age...

 

I don't recommend anyone to retire with 50.

Sure, you can take some time off, travel, do your own stuff, but not in the long run (while the run might not be as long as you think if you refer to above).

 

 

 

You can retire with your current lifestyle. Period. 

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If you don’t already have a house, get a HDB and invest the rest in low risk assets earning 2-3% annually for 5 years.
After 5 years MOP, use the money to invest in 2 private properties while keeping the HDB.

Choose to either continue staying in the HDB or stay in one of the Pte property and rent out the other two.

You should be able to get at least $6k passive income monthly comfortably.

Choose to either retire or do only things you like to do from then on.

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2 minutes ago, Singroc said:

If you don’t already have a house, get a HDB and invest the rest in low risk assets earning 2-3% annually for 5 years.
After 5 years MOP, use the money to invest in 2 private properties while keeping the HDB.

Choose to either continue staying in the HDB or stay in one of the Pte property and rent out the other two.

You should be able to get at least $6k passive income monthly comfortably.

Choose to either retire or do only things you like to do from then on.

 

i wish this was possible.

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Guest memento mori

I have a registered account, but am posting using a guest one for anonymity's sake. 

 

I am turning 32 this year, and have around SGD8M in assets. If you're talking about liquidity, ~SGD3M. The bulk of my money came from inheritance from my late grandmother, and some wise investments I made a couple of years ago. I live almost debt-free - only credit card bills racked up are paid in full every month.

 

To me, having this comfortable stash of money allows me to pursue my own interests. I still work, and am very blessed to be able to do what I love, which is sales. Unlike most of my colleagues who have to chase numbers, I work because I like meeting new people, and closing a customer gives me immense satisfaction. I work to contribute back to society and do something with my time.

 

Personally, retirement isn't going for spas and playing mahjong all day long - though there's really nothing wrong with doing those, if that's one's cup of tea, all the more power to you. Retirement is being able to do whatever I like, whenever I like: anytime I feel like it, I book an air ticket. If I don't feel like working for the next month or so, I simply slow down my output or not work altogether (you can guess what kind of sales I'm in that allows me to do this). But I have to say that there's only so much travelling and lazing around one can do before boredom sets in... which is why most of the time I still go out to meet new people and generate sales for my own satisfaction.

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7 hours ago, Singroc said:

If you don’t already have a house, get a HDB and invest the rest in low risk assets earning 2-3% annually for 5 years.
After 5 years MOP, use the money to invest in 2 private properties while keeping the HDB.

Choose to either continue staying in the HDB or stay in one of the Pte property and rent out the other two.

You should be able to get at least $6k passive income monthly comfortably.

Choose to either retire or do only things you like to do from then on.

有钱和健康真好。

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Guest Rakutenno Kawasaki

I think that kind of position of wealth and assets is something the majority of people will not find themselves in. 

 

I am proposing a topic , how to live and spend your own money until every last cent is spent as used up at the end of your life so that your nephews nieces dont get to spend what you cannot spend. 

 

I plan to spend all my.hard earned money touring asia cheap places and at my last penny, I will end my life. 

 

From Tibetan book.of the Dead...my.version. 

 

I plan to go off around 65_ 67 years old. Dont want to live too old, plan to spend every last cent, take out all my annuity, savings, empty my.account , spend , drink , dance , be happy. 

 

At the end , walk into Phuket sea, deserted beach and drown myself at 68 years old after spending all my money. 

 

Lotsa , white people do that, instead they rake up huge credit card debts, spend luxuriously  , eat well , play vegas casino, ans at 70 years old they overdose on prescription pills and drink alcohol and never wake up. 

 

Go at 70 years but enjoy life pleasures to the fullest before you go. 

 

There is only.bliss.

 

Spend every last cent in your bank account before you go. 

 

No one is gonna take care of you until you are 90 years old , so go off at 70 years.

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