Do you have any questions about managing your finances during a career break? Please post them in the comments below-I’d love your thoughts! Also, remember to like, subscribe, and hit the notification bell so you never miss a video. I look forward to seeing you in the next one!
The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It's so difficult for people who are retired and have no savings to fall back on.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment.Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you've got it all worked out with the firm you work with so i surely wouldn't mind a recommendation.
I've experimented with a few over the past years, but l've stuck with Kathie daisy bosco for about three years now, and her performance has been consistently impressive. She's quite known in her field, look her up.
Brother sewing machine! So nostalgic! Very open minded in that you didn't rule out going back to 9-5. Usually after a sabbatical like this, people find it really hard to adjust to the 9-5 routine.
@@propertystories That’s the sewing machine I grew up with while sitting beside my mum when she worked hard to earn the dough for the family!! Till the end of 2024, I would have rested for 19 months. No regrets for the sabbatical/career break/early retirement or whatever terminology, I don’t think life enjoyment only happens in the absence of work. I’m a recovering workaholic lol Perhaps it’s a lifecycle thingy. I’ve enjoyed 24/7 freedom for more than a decade, so a 9-5 routine who knows might actually serve me well in this new season of my life. As always- never try never know, just go with the flow!! 🌈🤪
Hehe.. life can always be filled with adventures when we choose to live it.. I prefer being a Plan A thinker rather than trying to fall back on Plan B.. calculated risks 🤭😬
Thank you for your kind words and support!! You’ve made my day!! ☺️😁 It took me many hours of practice and learning to build my camera confidence over time with practice since I started this TH-cam channel as a personal (passion) project *confession of an introvert* Stick around and I will continue to work on it 🙌🏻🌈🌻🚴🏻♀️
I disagree with saving to retire, but build to retire. I have worked 24 years and now retire with 5k monthly intake. With 60k yearly expenditure mentioned in your video, I believe you "DO " have passive income " unless you have huge savings.
Well said and fair enough! I am aligned with the same line of thoughts as you, save for I have a slightly different spin on the execution aspect. Instead of seeing it from the traditional angle of “saving”, try looking from the lens of exercising financial discipline. While the intended outcome may be the same, the execution approach can be different. As shared at the end of this video, my next video in the posting pipeline is to discuss about the income streams from my personal context. Just drawing down on “savings alone” will only limit the financial freedom runway as well as the risk of “running out of money when you have zero economic value.” Hope you’ll stick around and we can continue the dialogue to help more people become unstuck 🙌🏻🌈🌻
Avril, I think the majority of our local friends don’t want to retire 😂 they find purpose in their work lives ie. their colleagues and attachment to their workplace. I can attest to that. I loved my work and my workplace. I certainly didn’t leave cos I hated work. I pursued FIRE as a life choice, after realising how short our lifespan actually is! 😂😂😂 work it out in the number of days left and it’s crazy! FIRE is a mindset, a choice to go against the industry myth of needing millions before we can retire. Psst, also hor… if majority of people pursue FIRE, our country will be finished! Haha no more people to work! let them work! Well crafted conclusion too! Claps! 👏 looking forward to the next video! I’m guessing dividends? 😂
@@dividendnomatt Thank you for resonating and your kind compliment!! 🙌🏻🙌🏻🙌🏻 💯 agree. Having walked through the path myself, I personally find that work isn’t the enemy as I did enjoy my work (be it civil servant or in real estate). Like you’ve pointed out correctly, it was a life(style) choice. I do have friends who are very ON for working in high-stress jobs, main motivation is to fund their lifestyle (high-life). Which is why I am probably one of those odd balls in our local setting, as I prefer to spend on financial comfort (in this case, to have a guilt-free 19 months of sabbatical=>career break=>early retirement). I fully understand that not all regular people can be in this privilege position to do so before 40, but I am sharing proof that it can be done since I experimented it myself, provided it is a conscious choice and also willing to pay the “price” for it too. Most often than not, many only say say but never put wheels into motion 🫣
@@solowithavril Wah exactly lah! So actually - “Financial Comfort” is the ultimate luxury one can buy in their lifetime, buying back the freedom and time(this one is biggest for me). And yes, many of our friends and colleagues will likely just envy from a distance or more likely, not celebrate our financial success one… only family and maybe a few closest friends will as shared by Mr Loo from 1M65, though he himself has said openly he doesn’t believe in FIRE. Haha. 😝
Haha, I’ve definitely made people around me very jealous for the past 19 months. I mean, there’s nothing to flaunt about (some people may take it the wrong way like how a viewer unfortunately misconstrued about my intent for starting this TH-cam channel). In our local competitive context, many of us don’t have the luxury of headspace to think about how to design and create a life plan. Not to mention the focus was skewed toward material wealth as an end goal 🥅 I fully respect Mr Loo’s personal philosophy. But that’s also his own personal context and circle of competence, which I wouldn’t agree it is a one-size-fits-all (not that he advocates it anyway). Similar to the FIRE concept, I took a personal spin to it by adding a letter “d” for dignity to make it FIREd, because that’s what I concluded for myself after experiencing that “oasis in the desert”. 🏜️ Like you’ve pointed out accurately, if everyone is the same, our country and this world will be full of non-working people. E.g. Landlords will need Tenants who are happy to pay for the lifestyle. To each his own, and we should celebrate diversity and be more open-minded for inclusiveness rather than adopting a be-all-or-end-all, divisive mentality 🌈✌🏻❤️
Hello 👋🏻 Many thanks for your well-intended question out of curiosity 💭 Providing specifics without the right context can mislead or misconstrue others. The last thing I want for this channel is to promote comparisons which is never an intended outcome. Spirit of transparency is not just delivered through showcasing a string of numbers without contextualising (I see them as vanity metrics) and then lose the true value behind them. The same numbers can lead to varying interpretations since everyone is different and comes from a spectrum of unique backgrounds/experiences. To satisfy your curiosity for now, I’m mostly invested in properties but with a sufficiently well-diversified portfolio (other financial instruments). I enjoy liquidity because I don’t go for a high leverage. Networth is reasonably solid coupled with net positive rental incomes. The next video in the posting pipeline will be on income streams without a job based on my personal context. PS: I’ve also addressed a similar question from another viewer (like yours) in the video’s comments section on my CPF journey. You may hop over to check it out then 🤓
Thank you for your valid observations. It is unfortunately true that different industries can have varying earning capabilities/capacity, with finance/tech topping amongst other professions. The real estate industry is constantly evolving with a whole spectrum of career opportunities in the value chain, save for property agents being more known as the “face” or frontline workers on the ground. It takes real work for someone to succeed but it is the same principle applied to all other respectable professions. Everyone is trying to work on their roles to improve earning power but having the right financial discipline, for my personal take, is the secret ingredient to making a real and tangible difference in an individual’s financial journey.
I can fully understand the stress of rising ceiling as well as cost of living. It’s a global phenomenon, the only consolation is none of us is alone in this. There is always an option for voluntary contribution, albeit the difference will be the 17% employer contributions. If can figure a way to overcome that, mental vs math issue, then I believe a solution can be worked out 🤓😊🤭
@ In my humble perspective, all of us are actually operating as a player within a system - be it state/society/organisation/school/family. Sometimes, passive income is like a myth. There is still a need to “manage” the portfolio, “kill” some brain cells and calm the emotions. So, it is not 100% “passive” as what many romanticize it to be. But of course, the remains a difference from active income, e.g. employment like a job, since we need to “sell” our time in the value exchange. End of the day, my personal conclusion is - learn to be self-sufficient/reliant/protection because nothing is permanent. Sounds a bit stoic/harsh truth (ouch!) but that’s really what living a real life is like 🤭🌈🌻
@@byebyefiat 💯 agree. That’s also another factor of consideration which is one of the CPF wealth-building strategies. Everyone takes different timings for their capital-building, so no need to compare. The fact is once an individual can hit it, that’s when the compounding magic (4% payoffs) can start happening with the hard-earned foundation built 🪄💫🌟
Saving alone without spending makes living life dull. But exercising financial discipline (how you spend money), is a different execution approach. Spending where necessary and timely, can help stimulate the economy, boost business outlook to nurture entrepreneurship and then create better jobs for those who aren’t cut out to be dare-devil risk-takers. One man’s meat is another poison. Instead of fighting over a small pie, why not think of creating a bigger pie so that everyone can have a bite? Creating an eco-system to encourage positive money flows can uplift everyone, whether Singaporeans or not. Without the earlier generations before us, we wouldn’t be at where we are today so let’s not forget our roots even as we spread our wings to fly 🦅 Being broke is no fun at all but with sufficiency (money as a resource), we can collectively create more good stuff together and help those who might be falling behind 🌈🌻💕
💯💯💯🙌🏻🙌🏻🙌🏻 Living a rich enough life is not wholly determined by the value of material wealth but the depth of human connections, sense of self-worth and lasting feeling of happiness 💕🌻🌈
For context, I reside in Singapore. I lived in my family home (eastern part of SG) for majority part of my life until I got married and my husband stays in the west to be near mother-in-law. So, as the Chinese idiom goes, 嫁鸡随鸡 (If you marry a chicken, follow the chicken) and I didn’t have a choice 😅
But your husband is working, no? So not really no income la. Your job now is to drive, sorry i mean, motivate your husband to work harder and earn more money for the family 😂
Yuppie, my husband works in a regular 9-5. He is not a FIRE enthusiast. I have my incomes, just not drawing from a ‘job’ per se. My husband says we are SINK instead of DINK, since we’re single-income with no kids yet. And yes, I drive him around and fetch him from work every now and then. Not the other way around 😂
Thank you for making an effort to leave your comment. However, inappropriate language is not acceptable so please consider retracting or revising the comment. Unkindness and disrespect are not welcome in this community 🙅🏻🙅🏻♀️ TH-cam is a safe space for genuine sharing of personal stories/experiences. Should negativity be encouraged or cyberbullying is allowed, then no real person will be willing to step out (remain faceless due to fear), even if they start off with genuine intentions of sharing their stories for others to learn something out of it. Let’s work towards making this space less fearful for ordinary folks so that everyone can learn something from one another’s life experiences/stories, in a more positive spirit of human connections. Thank you 🌈🌻❤️
Do you have any questions about managing your finances during a career break? Please post them in the comments below-I’d love your thoughts!
Also, remember to like, subscribe, and hit the notification bell so you never miss a video. I look forward to seeing you in the next one!
The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It's so difficult for people who are retired and have no savings to fall back on.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment.Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you've got it all worked out with the firm you work with so i surely wouldn't mind a recommendation.
I've experimented with a few over the past years, but l've stuck with Kathie daisy bosco for about three years now, and her performance has been consistently impressive. She's quite known in her field, look her up.
So sorry to hear about your challenging situation and life is indeed unpredictable. Sending you hugs and comfort in such difficult moments 💕
Brother sewing machine! So nostalgic! Very open minded in that you didn't rule out going back to 9-5. Usually after a sabbatical like this, people find it really hard to adjust to the 9-5 routine.
@@propertystories That’s the sewing machine I grew up with while sitting beside my mum when she worked hard to earn the dough for the family!!
Till the end of 2024, I would have rested for 19 months. No regrets for the sabbatical/career break/early retirement or whatever terminology, I don’t think life enjoyment only happens in the absence of work. I’m a recovering workaholic lol
Perhaps it’s a lifecycle thingy. I’ve enjoyed 24/7 freedom for more than a decade, so a 9-5 routine who knows might actually serve me well in this new season of my life.
As always- never try never know, just go with the flow!! 🌈🤪
@@solowithavril haha...love your attitude towards life. just going with the flow while steering away from permanent dangers.
Hehe.. life can always be filled with adventures when we choose to live it.. I prefer being a Plan A thinker rather than trying to fall back on Plan B.. calculated risks 🤭😬
You speak very well. Earned a sub 👍🏻
Thank you for your kind words and support!! You’ve made my day!! ☺️😁
It took me many hours of practice and learning to build my camera confidence over time with practice since I started this TH-cam channel as a personal (passion) project *confession of an introvert*
Stick around and I will continue to work on it 🙌🏻🌈🌻🚴🏻♀️
Hi! Just want to say great videos and keep it up! Subscribed!
@@RyanTLX Thank you for your kind words and support!! 🌈❤️🌻☀️
I disagree with saving to retire, but build to retire. I have worked 24 years and now retire with 5k monthly intake. With 60k yearly expenditure mentioned in your video, I believe you "DO " have passive income " unless you have huge savings.
Well said and fair enough! I am aligned with the same line of thoughts as you, save for I have a slightly different spin on the execution aspect.
Instead of seeing it from the traditional angle of “saving”, try looking from the lens of exercising financial discipline. While the intended outcome may be the same, the execution approach can be different.
As shared at the end of this video, my next video in the posting pipeline is to discuss about the income streams from my personal context.
Just drawing down on “savings alone” will only limit the financial freedom runway as well as the risk of “running out of money when you have zero economic value.”
Hope you’ll stick around and we can continue the dialogue to help more people become unstuck 🙌🏻🌈🌻
Avril, I think the majority of our local friends don’t want to retire 😂 they find purpose in their work lives ie. their colleagues and attachment to their workplace. I can attest to that. I loved my work and my workplace. I certainly didn’t leave cos I hated work. I pursued FIRE as a life choice, after realising how short our lifespan actually is! 😂😂😂 work it out in the number of days left and it’s crazy!
FIRE is a mindset, a choice to go against the industry myth of needing millions before we can retire. Psst, also hor… if majority of people pursue FIRE, our country will be finished! Haha no more people to work! let them work!
Well crafted conclusion too! Claps! 👏 looking forward to the next video! I’m guessing dividends? 😂
@@dividendnomatt Thank you for resonating and your kind compliment!! 🙌🏻🙌🏻🙌🏻
💯 agree. Having walked through the path myself, I personally find that work isn’t the enemy as I did enjoy my work (be it civil servant or in real estate).
Like you’ve pointed out correctly, it was a life(style) choice. I do have friends who are very ON for working in high-stress jobs, main motivation is to fund their lifestyle (high-life). Which is why I am probably one of those odd balls in our local setting, as I prefer to spend on financial comfort (in this case, to have a guilt-free 19 months of sabbatical=>career break=>early retirement).
I fully understand that not all regular people can be in this privilege position to do so before 40, but I am sharing proof that it can be done since I experimented it myself, provided it is a conscious choice and also willing to pay the “price” for it too.
Most often than not, many only say say but never put wheels into motion 🫣
@@solowithavril Wah exactly lah! So actually - “Financial Comfort” is the ultimate luxury one can buy in their lifetime, buying back the freedom and time(this one is biggest for me).
And yes, many of our friends and colleagues will likely just envy from a distance or more likely, not celebrate our financial success one… only family and maybe a few closest friends will as shared by Mr Loo from 1M65, though he himself has said openly he doesn’t believe in FIRE. Haha. 😝
Haha, I’ve definitely made people around me very jealous for the past 19 months. I mean, there’s nothing to flaunt about (some people may take it the wrong way like how a viewer unfortunately misconstrued about my intent for starting this TH-cam channel).
In our local competitive context, many of us don’t have the luxury of headspace to think about how to design and create a life plan. Not to mention the focus was skewed toward material wealth as an end goal 🥅
I fully respect Mr Loo’s personal philosophy. But that’s also his own personal context and circle of competence, which I wouldn’t agree it is a one-size-fits-all (not that he advocates it anyway). Similar to the FIRE concept, I took a personal spin to it by adding a letter “d” for dignity to make it FIREd, because that’s what I concluded for myself after experiencing that “oasis in the desert”. 🏜️
Like you’ve pointed out accurately, if everyone is the same, our country and this world will be full of non-working people. E.g. Landlords will need Tenants who are happy to pay for the lifestyle.
To each his own, and we should celebrate diversity and be more open-minded for inclusiveness rather than adopting a be-all-or-end-all, divisive mentality 🌈✌🏻❤️
What is your current liquid networth invested? And whats the breakdown? It helps people know if its possible only if u provide transparency
Hello 👋🏻 Many thanks for your well-intended question out of curiosity 💭
Providing specifics without the right context can mislead or misconstrue others. The last thing I want for this channel is to promote comparisons which is never an intended outcome. Spirit of transparency is not just delivered through showcasing a string of numbers without contextualising (I see them as vanity metrics) and then lose the true value behind them. The same numbers can lead to varying interpretations since everyone is different and comes from a spectrum of unique backgrounds/experiences.
To satisfy your curiosity for now, I’m mostly invested in properties but with a sufficiently well-diversified portfolio (other financial instruments). I enjoy liquidity because I don’t go for a high leverage. Networth is reasonably solid coupled with net positive rental incomes. The next video in the posting pipeline will be on income streams without a job based on my personal context.
PS: I’ve also addressed a similar question from another viewer (like yours) in the video’s comments section on my CPF journey. You may hop over to check it out then 🤓
Some Property agent can earn few million a year x 10 years
Thank you for your valid observations. It is unfortunately true that different industries can have varying earning capabilities/capacity, with finance/tech topping amongst other professions.
The real estate industry is constantly evolving with a whole spectrum of career opportunities in the value chain, save for property agents being more known as the “face” or frontline workers on the ground.
It takes real work for someone to succeed but it is the same principle applied to all other respectable professions.
Everyone is trying to work on their roles to improve earning power but having the right financial discipline, for my personal take, is the secret ingredient to making a real and tangible difference in an individual’s financial journey.
So 6 months no cpf contributions and ceiling keep raising😢
I can fully understand the stress of rising ceiling as well as cost of living. It’s a global phenomenon, the only consolation is none of us is alone in this. There is always an option for voluntary contribution, albeit the difference will be the 17% employer contributions. If can figure a way to overcome that, mental vs math issue, then I believe a solution can be worked out 🤓😊🤭
We arecall inder the SYSTEM of the STATE. Unless people have PASSIVE INCOME
@ In my humble perspective, all of us are actually operating as a player within a system - be it state/society/organisation/school/family.
Sometimes, passive income is like a myth. There is still a need to “manage” the portfolio, “kill” some brain cells and calm the emotions. So, it is not 100% “passive” as what many romanticize it to be. But of course, the remains a difference from active income, e.g. employment like a job, since we need to “sell” our time in the value exchange.
End of the day, my personal conclusion is - learn to be self-sufficient/reliant/protection because nothing is permanent. Sounds a bit stoic/harsh truth (ouch!) but that’s really what living a real life is like 🤭🌈🌻
No issue if your cpf SA is already at FRS.
@@byebyefiat 💯 agree. That’s also another factor of consideration which is one of the CPF wealth-building strategies.
Everyone takes different timings for their capital-building, so no need to compare. The fact is once an individual can hit it, that’s when the compounding magic (4% payoffs) can start happening with the hard-earned foundation built 🪄💫🌟
Must spend la, so that our new citizens and PR needs to earn a living and buy BTO.
Saving alone without spending makes living life dull. But exercising financial discipline (how you spend money), is a different execution approach.
Spending where necessary and timely, can help stimulate the economy, boost business outlook to nurture entrepreneurship and then create better jobs for those who aren’t cut out to be dare-devil risk-takers. One man’s meat is another poison. Instead of fighting over a small pie, why not think of creating a bigger pie so that everyone can have a bite?
Creating an eco-system to encourage positive money flows can uplift everyone, whether Singaporeans or not. Without the earlier generations before us, we wouldn’t be at where we are today so let’s not forget our roots even as we spread our wings to fly 🦅
Being broke is no fun at all but with sufficiency (money as a resource), we can collectively create more good stuff together and help those who might be falling behind 🌈🌻💕
It is all about lifestyle choices😢😊
💯💯💯🙌🏻🙌🏻🙌🏻 Living a rich enough life is not wholly determined by the value of material wealth but the depth of human connections, sense of self-worth and lasting feeling of happiness 💕🌻🌈
Why do u move far away from your parents ?
For context, I reside in Singapore. I lived in my family home (eastern part of SG) for majority part of my life until I got married and my husband stays in the west to be near mother-in-law.
So, as the Chinese idiom goes, 嫁鸡随鸡 (If you marry a chicken, follow the chicken) and I didn’t have a choice 😅
its time to invest into youtube video; it just hit a small peak
Thank you and am very grateful with the current trajectory!! 🌈🌻❤️☀️
nice❤❤❤🎉🎉🎉
@@YYYY-p6e Thank you and Merry Christmas!!! 🎄🎁🎅🏻⛄️🌈🌻❤️
But your husband is working, no? So not really no income la. Your job now is to drive, sorry i mean, motivate your husband to work harder and earn more money for the family 😂
Yuppie, my husband works in a regular 9-5. He is not a FIRE enthusiast. I have my incomes, just not drawing from a ‘job’ per se.
My husband says we are SINK instead of DINK, since we’re single-income with no kids yet. And yes, I drive him around and fetch him from work every now and then. Not the other way around 😂
👏👏👏
🙌🏻🙌🏻🙌🏻🌈🌈🌈🌻🌻🌻
good❤🎉❤🎉🎉
@@ShengYongLee Thank you!! 😊
❤❤🎉🎉❤🎉
🌈❤️🌻☀️
❤❤🎉🎉
@@MengNaaiLin 🌈❤️🌻☀️
Retire do you tube channel 😂
LJ KNN lor
Thank you for making an effort to leave your comment. However, inappropriate language is not acceptable so please consider retracting or revising the comment.
Unkindness and disrespect are not welcome in this community 🙅🏻🙅🏻♀️
TH-cam is a safe space for genuine sharing of personal stories/experiences. Should negativity be encouraged or cyberbullying is allowed, then no real person will be willing to step out (remain faceless due to fear), even if they start off with genuine intentions of sharing their stories for others to learn something out of it.
Let’s work towards making this space less fearful for ordinary folks so that everyone can learn something from one another’s life experiences/stories, in a more positive spirit of human connections. Thank you 🌈🌻❤️