How extreme will you live with frugality in order to retire early in Singapore? After being retrenched at 35, a Singaporean retired and bought a 3-room flat in full. Despite a monthly passive income of $2,500 ($900 from rent and $1,600 from insurance payout), he only spends $150 a month. His financial freedom doesn’t come from wealth building but from frugality or extreme … [Read more...]
My experience of early retirement
Early retirement was a popular topic during friends’ gatherings this Chinese New Year. Many of my friends are in their mid-50s to 60s. Although they are older than me, I was the first one to stop working full-time at age 45. Hence when they mentioned three highs and work stress, or whether they should retire now and what things to do after retirement, I was grateful that I … [Read more...]
Elderly care in Taiwan
Elderly care is a big topic. Come next year Singapore will attain its super aged status, with 20 percent of citizens aged 65 or older. Some readers sent me questions after reading my last blog post “Overseas retirement – what you don’t know”. They are interested to know the possibilities of retiring in foreign countries. Most are researching for their own retirement plan. … [Read more...]
Overseas retirement – what you don’t know
Retirement in a foreign country is the dream of many. It is expensive to live in Singapore. We have high inflation, high housing cost and high cost of living. In contrast, our nearby countries can offer the same quality or even better retirement life at a fraction of Singapore’s costs. As more of my friends are approaching the age of retirement, discussions come up on an … [Read more...]
No new investment for retirees
Investment does not equal wealth. In fact, investing is just an action to put money into something, with the hope of generating return in the future. (Note: For those selling or marketing investment opportunities, this blog post is not for you.) Retirees can’t afford to lose a single dollar After his retirement, a famous Hong Kong disc jockey changed path to be an … [Read more...]