Taking Action, Challenge The Norm And Retire Early
Retirement. A complex topic with many uncertainties:
Many people put off planning until much later (too late) in their lives and I’m one of them.
As the Chinese idiom goes – “The best time to plant a tree was 20 years ago. The second best time is now.”
“More than 40 per cent of people aged 65 to 69 were still working last year, compared with just 24 per cent in 2006, according to the Ministry of Manpower (MOM).”
“Two in five respondents are not confident about their preparations for retirement”
“Only 36 per cent believe they can retire comfortably with their current savings and investments, while 30 per cent expect to downgrade their current lifestyle and habits when they retire.”
“38 per cent are worried about their ability to afford medical costs when they retire, while 32 per cent are not sure how much buffer they would need for healthcare costs when they retire.”
When was the last time you reviewed this important matter?
Adopt a regret minimisation framework today!
Is it possible to retire early and well in Singapore?
Sowing the seeds, so that more will “challenge” the societal norm, escape the 9 – 5s, sardine packed trains and gripes of stressful work to lead a wonderful and fulfilled life.
Join our journey as we build on the topics of:
Warren Buffett credits it as the most powerful factor in his investing successes. Albert Einstein calls this the 8th wonder of the world. He who understands it, earns it.. he who doesn’t… pays it. Compound interest! In this article, we highlight (with relevant examples) the mighty power of compounding. Case study 1 John started saving …
Continue reading “Financial Literacy 101 – Power of Compounding”
Another fact that directly impacts our retirement planning will be the rising cost of living. Inflation. Here we look at the data from singstat.gov.sg We look at the MAS core inflation measure* which gives important indicator of price developments in Singapore. It is less volatile than the CPI inflation but co-integrated with it. *Note that …
Continue reading “Retirement Facts – Rising Cost of Living (Part 2/5)”
Fact 1 – Longer Life Expectancy Average life expectancy have increased with advancement of healthcare and awareness. Singaporeans are living longer and we have to take this into consideration when planning for our retirement. Looking at the above data, we are very roughly estimating the following life expectancies for the different age groups. Disclaimer: Please …
Continue reading “Retirement Facts – Life Expectancy (Part 1/5)”
Retire Lah 