Sethisfy Personal Finance
Sethisfy Personal Finance
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Is Retiring Early a LIE?! Asking Kyith About Reaching Financial Independence
Is FIRE (Financial Independence, Retire Early) a sham?? I ask Kyith who achieved financial independence in his late thirties about his journey and his thoughts about retiring early.
📲 Free updates and great deals: sethisfy.com/telegram
(Leave notifications on so you do not miss time-sensitive promos!)
【Sponsored by Webull】
🔥 Welcome Promo: Up to 8.4%^ USD Moneybull p.a. yield capped at USD250k!!
💵 Plus up to US$1,050 cash vouchers!
📈 Transfer-in Promo: get up to *US$2,500 shares* + S$150 fee subsidy!
👉🏼 More details: sethisfy.com/webull
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00:00 Kyith’s financial independence journey
06:50 How to reach retirement early??
15:30 FIRE vs priorities in life
21:15 Can people with kids FIRE?
24:56 FI vs FIRE
35:19 What to do after FIRE?
41:07 Money aside, is not working really possible
47:38 Is FIRE still relevant
51:42 What’s next for Kyith?
Disclaimer: This TH-cam channel does not take into account of your personal financial situation or needs, and makes no representation and assumes no liability to the accuracy or completeness of the information provided here. The information and articles do not constitute financial, investment, or trading advice. This channel shall not be liable for any losses that may arise as a result of materials published here
Views espoused are of my personal opinion and do not reflect that of my employer(s).
มุมมอง: 8 063

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ความคิดเห็น

  • @frjuy
    @frjuy 19 ชั่วโมงที่ผ่านมา

    Same, I have the exact same sentiment as you 😂

    • @Sethisfy
      @Sethisfy 15 ชั่วโมงที่ผ่านมา

      haha when people budget with 50%/30%/20% and the 20% refers to savings I’m like ????

    • @frjuy
      @frjuy 14 ชั่วโมงที่ผ่านมา

      @@Sethisfy if they are from the lower income group, or if they have dependents, i think it's understandable But if their income is higher and has no dependant, then ya, 20% as savings is 🤨

  • @maydaylove5978
    @maydaylove5978 วันที่ผ่านมา

    Thanks for sharing Seth! I want to know the best method! :)

  • @ongsumei1334
    @ongsumei1334 วันที่ผ่านมา

    I want to know the best method!

  • @Stothereal
    @Stothereal 2 วันที่ผ่านมา

    don't want to be mean but life is not only about money. Just take 10-20k of your investment pot and see a dentist, then another 5-10k to see a proper dermatologist. Your quality of life will improve tremendously. There is no point to save so much and leaving a miserable life.

    • @Sethisfy
      @Sethisfy 2 วันที่ผ่านมา

      While there may not be any malice intended, some comments left on this video have been quite unkind already. So I feel that if you are truly not trying to be mean, it would be a kind thing to avoid making assumptions on someone’s medical conditions and outlook in life.

  • @kzaiwo
    @kzaiwo 2 วันที่ผ่านมา

    Thanks for sharing! I want to know the best way to pay taxes!

  • @syw5261
    @syw5261 2 วันที่ผ่านมา

    Thanks. It is a really good interview. I finished the whole video.

    • @Sethisfy
      @Sethisfy 2 วันที่ผ่านมา

      Glad you enjoyed it! Thanks for the kind words.

  • @zixuan77
    @zixuan77 3 วันที่ผ่านมา

    need to factor in the cost of transferring the miles too right?

    • @Sethisfy
      @Sethisfy 2 วันที่ผ่านมา

      Yes. But that’s also required when you are earning miles normally by using your card.

    • @zixuan77
      @zixuan77 2 วันที่ผ่านมา

      @@Sethisfy ah. True. But I mainly use UOB, and since the miles can pool. I always use my infinite visa to free transfer.

  • @KC-bg7fl
    @KC-bg7fl 3 วันที่ผ่านมา

    Want to know the best method!

  • @tamachan1987
    @tamachan1987 3 วันที่ผ่านมา

    Personally, I am a saver, still try to investing but the gains are + and - I agree with Kyith that 'Grab food' i cannot apart the $2-$3 fee that I could walk to get that myself, which is another meal that I can save from. Every Grab Rider i see on the road, is another 'lazy user' at the end of it Yes it is a lifestyle, but $3 is another meal to me

    • @Sethisfy
      @Sethisfy 2 วันที่ผ่านมา

      We need spenders to drive the economy 😅 Sometimes there are good deals on the delivery apps which I take advantage of too

  • @song45
    @song45 3 วันที่ผ่านมา

    Well I don’t wanna spend my whole life updating the spreadsheet. Life is to be enjoyed not endured . Of course one can’t splurge all the time , but it’s important to enjoy experiences, go for vacations , good meals and gathering with friends . We don’t live forever .. no point having FIRE and become the richest in the man in the graveyard . When yr parents is around , spend and bring them for vacation and good meals . Although they will tell u no need, deep down they appreciate yr gestures

    • @Sethisfy
      @Sethisfy 3 วันที่ผ่านมา

      Yes what you said is true. At the same time, some of us enjoy updating spreadsheets 😂

  • @victorkmlee
    @victorkmlee 3 วันที่ผ่านมา

    Good discussion.

    • @Sethisfy
      @Sethisfy 3 วันที่ผ่านมา

      Thanks for commenting to help boost this video!

  • @michtan7774
    @michtan7774 3 วันที่ผ่านมา

    It's quite painful to listen to this video as Kyith stammers quite badly at times. Sorry to say this, but i hope is aware of it and make an effort to do something about it.

  • @pomingng2237
    @pomingng2237 4 วันที่ผ่านมา

    I want to know the best method, thanks

  • @rayne8158
    @rayne8158 4 วันที่ผ่านมา

    Try to enjoy life and settle down fast before going for FIRE. It will be better.

  • @kwokweng76
    @kwokweng76 4 วันที่ผ่านมา

    i like this interview, i watch from start till finish

    • @Sethisfy
      @Sethisfy 4 วันที่ผ่านมา

      Thanks for the nice comment!! Glad you liked the entire hour 😄

  • @koreacraze1234
    @koreacraze1234 4 วันที่ผ่านมา

    I want to know the best method! Thanks!

  • @KyithNg
    @KyithNg 4 วันที่ผ่านมา

    Thanks Seth for the interview and your community for the feedback!

    • @Sethisfy
      @Sethisfy 4 วันที่ผ่านมา

      Thanks Kyith for the candid sharing! We will continue to learn a lot from your experiences and content

  • @WorldAquariumSingapore
    @WorldAquariumSingapore 4 วันที่ผ่านมา

    firstly congrates; ques => how did Kyith save so much money $500K? and this is over how many years, 10years? the details i meant

  • @coolup9
    @coolup9 4 วันที่ผ่านมา

    I want to know the best method

  • @decki86
    @decki86 4 วันที่ผ่านมา

    Thanks for the insights. FIRE with 5m is certainly out of reach for most and even the normal proponents of FAT fire talks about 2.5m so i reckon is really down to your expenses, withdrawal rate and risk tolerance. For most who are 30-40s i can imagine attaining Coast FI then followed by regular FI is good enough to redefine how one wants to live their 2nd life. FI is progressive and is good to see how others are doing it.

    • @Sethisfy
      @Sethisfy 4 วันที่ผ่านมา

      Thanks for the input and bringing up Coast FIRE. As Kyith mentioned in the video I think one of the great things about the concept of FIRE is that the many variations sometimes guide us to think about what suits us. One can follow existing templates, tweak them, or even try to come up with their own versions. And yes, great to exchange ideas and share with others who are also interested in this area.

  • @samdogen1846
    @samdogen1846 5 วันที่ผ่านมา

    Good to see FIRE spread to Malaysia/Singapore! I helped kickstart the modern-day FIRE movement in 2009 when I launched Financial Samurai and I’m always amazed how far it’s spread. The true test of FIRE is leaving your day job and living off your investments and supplemental income. Give it a go and let go! -Sam

    • @exploringapis4495
      @exploringapis4495 4 วันที่ผ่านมา

      I’ve never heard of financial samurai

  • @LeakyBucketsg
    @LeakyBucketsg 5 วันที่ผ่านมา

    Much easier to FIRE if no kids.

  • @mymemorieslane
    @mymemorieslane 5 วันที่ผ่านมา

    True on the spending part, I see people like to go haidilao, order coffee from famous brand like luckin or starbuck which cost $7-8 per cup but taste so bitter. For me I don't see the joy in spending at these places that are so much expensive, I prefer to eat at hawker with so much more delicious choice, I prefer to make my own 3 in 1 coffee which I think one packet of powder cost 20cents only, don't taste bitter and much nicer. Guess different people have different personalities and expectation in their life. Seems like my journey is abit more extreme then kyith. Im turning 36 this year and still single, have around 700k+ in cash+investments. I started working since 23, and been saving around 50-70% max per month till now. Just quit my job and intend to pursue my passion instead of continuing the rat race in corporate world. Spend more time with parents while they are still around and getting older and older yearly. Wish me luck!!

    • @Sethisfy
      @Sethisfy 5 วันที่ผ่านมา

      Thanks for sharing your story. Completely FIRE? Or still going to have some part time work etc.

    • @Stothereal
      @Stothereal 2 วันที่ผ่านมา

      your life sounds very boring - and that may be the reason you are still single

  • @happybala3
    @happybala3 5 วันที่ผ่านมา

    i think kids are not expensive. just don't be kiasu.

    • @Sethisfy
      @Sethisfy 5 วันที่ผ่านมา

      I imagine it is easier said than done but as someone who don’t have kids, I’m not sure whether this is possible. Might also depend on how many kids/whether the child has special needs etc. Do you have kids and if so what kind of expenses does that entail?

    • @jasonmarcellus
      @jasonmarcellus 3 วันที่ผ่านมา

      definitely @happybala3 has not kids 🤪 there will be peer pressure amongst the kids as well

  • @tritonyeah
    @tritonyeah 5 วันที่ผ่านมา

    Lean fire or fat fire

    • @Sethisfy
      @Sethisfy 5 วันที่ผ่านมา

      I don’t understand. Are you asking us which variant we are referring to?

    • @tritonyeah
      @tritonyeah 5 วันที่ผ่านมา

      I'm saying it depends on whether one prefers to have a larger buffer to weather any unknown storms in life

  • @user-so7hh2fc7j
    @user-so7hh2fc7j 5 วันที่ผ่านมา

    Kyith, u write well, but I do think you should invest in a speech therapist and a speaking coach. the stammering is quite severe.

    • @exploringapis4495
      @exploringapis4495 4 วันที่ผ่านมา

      So you’re saying he’s a keyboard warrior?

    • @user-so7hh2fc7j
      @user-so7hh2fc7j 4 วันที่ผ่านมา

      @@exploringapis4495 chill…no, of course not. I meant well. Just take note of the amount of stammering. It’s in almost every sentence he tries to make. I happen to be a specialist in this area. If he is able to improve this area, it will benefit him most 🙏 to be able to speak confidently and not stammer, it’s worth more than any amount of investments. A wise man once said, the best investment is the one u make in yourself.

    • @chrisfraps589
      @chrisfraps589 4 วันที่ผ่านมา

      nervous?

    • @user-so7hh2fc7j
      @user-so7hh2fc7j 4 วันที่ผ่านมา

      @@exploringapis4495 nope, u are totally missing the point.

    • @user-so7hh2fc7j
      @user-so7hh2fc7j 4 วันที่ผ่านมา

      @@chrisfraps589 doubt so. Watch his other videos. It’s pretty consistent. Also probably spend some money on dental.

  • @A.Singaporean.Stocks.Investor.
    @A.Singaporean.Stocks.Investor. 5 วันที่ผ่านมา

    Don't be married to our jobs. Or else we would feel empty when we retire. 🙊 Work because we want to and not because we have to. It is good to have options. 💯

  • @sivagamir5493
    @sivagamir5493 5 วันที่ผ่านมา

    Guys really a nice and good conversation.

    • @Sethisfy
      @Sethisfy 5 วันที่ผ่านมา

      I am worried that the length of the video was too long but glad that you enjoyed it. Thanks for watching and leaving a nice comment 🙏🏼

  • @AndrewOng-nf5xj
    @AndrewOng-nf5xj 5 วันที่ผ่านมา

    Very good conversation! Was also thinking if should go RE. The big question to answer is what's next. Agree that productive people usually can't sit idling. So must chart out the activities post RE before activating RE.

    • @Sethisfy
      @Sethisfy 5 วันที่ผ่านมา

      Thanks for the comment! I suppose have FI will give one the freedom to go find things to do after RE. Give me $5 million now I’m sure I’ll have the time to find something worthwhile to do 😅

    • @KyithNg
      @KyithNg 4 วันที่ผ่านมา

      They sometimes say our life is in stages and we move from stage a to stage b to stage c. Perhaps stage a preps us for stage b but it is up to us to see what stage b entails.

    • @AndrewOng-nf5xj
      @AndrewOng-nf5xj 3 วันที่ผ่านมา

      With each stage also come different possibilities. E.g. for someone in 40s, the likelihood of marriage and have kids diminished compared to someone in 30s. For some gurus, S$5M could be the number to work towards before they declare RE so as to cushion the many possibilities. But this often translates to more work years to set aside funds for a situation that has low chance of occurrence e.g. "marriage life with kids". So i think one must he honest with their own expectation and wants instead of trying to prolong the wealth accumulation journey to cater buffer for an event that has low chance of occurrence. In doing so, we are also denying ourselves other possibilities/opportunities that could come our way if RE is activated earlier. But minimally, i think we should set aside enough to pay for medical insurance premium so that a large part of unexpected high expenses are covered.

  • @junjiechia7065
    @junjiechia7065 5 วันที่ผ่านมา

    Great video! I would love to know the best method!

  • @taychikeng
    @taychikeng 5 วันที่ผ่านมา

    Kyith can come Bagholder? 🤩

    • @Sethisfy
      @Sethisfy 5 วันที่ผ่านมา

      Cannot can only drink with Seth 😇

  • @Sethisfy
    @Sethisfy 5 วันที่ผ่านมา

    sethisfy.com/telegram Thanks for watching and liking this video! ⤴️ Also consider subscribing to the Telegram for more great deals and updates.

  • @Clash-vq5zc
    @Clash-vq5zc 5 วันที่ผ่านมา

    Does disability income insurance apply for self employed as well?

    • @Sethisfy
      @Sethisfy 5 วันที่ผ่านมา

      Yes

  • @surfbuggy123
    @surfbuggy123 5 วันที่ผ่านมา

    I want to know the best method !

  • @homhope
    @homhope 5 วันที่ผ่านมา

    i want to know the best method. thanks

  • @lianleongtan7749
    @lianleongtan7749 6 วันที่ผ่านมา

    I want to know the best method! Thanks.

  • @weiyingang8590
    @weiyingang8590 6 วันที่ผ่านมา

    Interested to know the best method 🎉

  • @5canwalk
    @5canwalk 6 วันที่ผ่านมา

    Thank u for the transparency 🎉❤

  • @5canwalk
    @5canwalk 6 วันที่ผ่านมา

    Team ring light! 🍩

  • @t00tering
    @t00tering 6 วันที่ผ่านมา

    I want to know the beat method!

  • @jas3467
    @jas3467 6 วันที่ผ่านมา

    Hi Seth, can I check if i chose dining as my preferred category, do I still get miles on other categories e.g. beauty & wellness etc?

    • @Sethisfy
      @Sethisfy 6 วันที่ผ่านมา

      Very little, only 0.4 miles per dollar

  • @Derrick_or_Deryck
    @Derrick_or_Deryck 7 วันที่ผ่านมา

    Came across your video and enjoyed this content of yours, what’s your opinion about the Amex Platinum Credit Card?

  • @junng1777
    @junng1777 7 วันที่ผ่านมา

    I want to know the best method! Thanks.

  • @QuizzBrizz.official
    @QuizzBrizz.official 7 วันที่ผ่านมา

    Hey ,is it possible for a European to find work in Singapore without degree but have 13 years experience in hospitality?

  • @morganaluthor
    @morganaluthor 7 วันที่ผ่านมา

    hi, i'm totally new to CC. If i go dining at restaurants or places like KFC, should i use uob one or citi rewards (if the restaurants don't have specific deals) ?

    • @Sethisfy
      @Sethisfy 7 วันที่ผ่านมา

      Citi Rewards has to be tied to Amaze to get 4 miles per dollar for dining. UOB One gives its 3.33% rate for retail spend which includes dining. Depending on your monthly spend you can consider cards that give higher earning on dining like Maybank Family and Friends (8%), Citi Cash Back (6%) or UOB EVOL (6.7% on paywave).

    • @morganaluthor
      @morganaluthor 7 วันที่ผ่านมา

      @@Sethisfy thank you :) i'm not a big spender since i lead a simple life with my parents. Will look into it

  • @roytan8243
    @roytan8243 7 วันที่ผ่านมา

    Thanks for sharing Seth. I want to know the best method pls !

  • @limkathryn
    @limkathryn 7 วันที่ผ่านมา

    Thanks for sharing Seth! I want to know the best method!

  • @alexislee4171
    @alexislee4171 8 วันที่ผ่านมา

    I want to know the best method!

  • @asisatan3731
    @asisatan3731 8 วันที่ผ่านมา

    please share all your free documents thanks

  • @targareyens
    @targareyens 8 วันที่ผ่านมา

    Thank you. Want to know the best method!