(WARNING: VERY PERSONAL.) Retiring worry free in Singapore soon? AK looks at his own situation?
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- เผยแพร่เมื่อ 28 เม.ย. 2024
- This is a very personal exercise and any regular person in Singapore who is thinking of having a comfortable retirement can do something like this.
Retire worry free in Singapore soon.
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Thanks AK for the kind words!
Hey. I only spoke the truth. You good. 💯👌😊
Thanks for sharing!
👋👋
Dear AK, thank you so much for this personal insights. Love how you relate your plans and the sums for easy digestion. Already feeling the "missing you" when the day comes with less blogging ... ohhhh.
1000 apologies 🙊 The day will come but I have shared my philosophy openly in my blogs and videos. I like to think the philosophy is timeless. So, as long as the internet exists, I am always nearby. 😊
very good insights sir
We cannot predict but we can prepare. 👌💯
Thanks AK for talking to yourself about your retirement planning 😀
👋👋
Thanks, AK, for sharing your thoughts with the numbers. Impressed by with so fantastic track record of investment returns and experience, still emphasis on creating layers of safety nets. Steady!
I don't have perfect knowledge. The only way I can have peace of mind is to hope for the best but prepare for the worst. 🤞
Exactly. Its the philosophy that matters.
💯💯💯
Dear AK, Thanks for your honesty in discussing your retirement plans. In one of your comments, you mentioned that your parents are in their late 70's but are generally healthy now. I think you are aware (you have expressed it in different ways!) that, when they reach their 80's, more medical problems will surface. Medical expenses in Singapore can be expensive! You may have to allocate more than the present $4k per month for their upkeep. A caregiver's salary plus levy alone may cost $1k per month. Do check with friends who have elderly folks how much medical expenses may cost.
Take care and all the best!
My mom is pretty well covered because I got her shield plan upgraded many years ago. My dad was stubborn and he only has medishield life. His health is also poorer. 😔 this is why I said I would have to do a review when I turn 55.😷 I might have to put aside another $3k a month to care for my dad which would mean another $36k a year of expenses... 😱
Dear AK, thank you for sharing your insights and thoughts on how to manage the money and make money work hard to grow more money. Your sharing on possible disease X and continuing high inflation reminded me that I must also be aware of these when I do my planning. 👍🏼😁
For sure, we hope for the best but must be realistic enough to accept things could go wrong.🤞
The reasons for possibly receiving lower passive income in the next two years are many and I have included what I think are reasonably possible when I talk to myself in the video.🙊
It pays to have an idea of what to expect so that we can factor into our plans. 🍵
Hope AK will continue to blog still 😊
😅😅😅
Thanks for another great video. Some people are always jealous of others' situations. There are pros and cons of getting married and giving birth. Regardless of family status, people can still build their own wealth. Individuals should review their situation and risk profile and execute the investment strategy that best suits them. I am also trying hard like anyone else to build wealth. Hope to Huat Big Time Soon! Cheers!
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I need to work another 5 years so that I can compound my DBS’s dividend and put my annual bonus so that I reach my target portfolio goal. Then I will have full financial freedom to be anywhere I want. Looking so forward to the future but meanwhile got run in the corporate treadmill
Almost there! Huat ah! 🥳
Dear AK, I found this most useful, especially for a financial planning novice like me. Since you have so much excess funds in your OA, have you considered stashing away the maximum ERS of S$440,800 in 2026, when you turn 55? If not, why not? Pardon the simple question. I am a novice in all this. 😅Thanks!
AK, please continue to talk to yourself regularly. If not, you will really start talking to yourself soon.....😂
Keep it up.
🤣🤣🤣
Hello AK, there’s something I don’t understand and have been thinking, is there an inverse relationship between FED interest rate cut versus bank interest rates?
Hmm. Singapore imports interest rate from USA. If FED cuts rates, we should see interest rates going down here as well.
@@A.Singaporean.Stocks.Investor. thanks AK!
@@tingxuan9337
If well plan, I believe looking at the investment portfolio is more of a hobby rather than an investment after a retirement. Also just to earn some kopi money. If got no kid, don't need so much money. If got kid, just guide them and they can earn their own. Don't calculate so much la, is time to enjoy life already. Once bye bye, got how much also no use le. When you say "if I don't need to worry", in fact you are worrying. Spend more time eating healthy food and exercise. Think so much also no use. 😊
I like what you said, 'once bye bye got how much also no use.'😅
You are right. I think too much. 👌
Ak, just one question, suppose you can express the cost of a desired lifestyle you prefer in retirement divided by your current portfolio in cash, excluding cpf, and then including cpf, how does those percentage figure look?
Eh. I read the question 3x but I don't think I know how to answer it because I have never thought of it that way before. 🤔
I have always been more concerned with how much income my portfolio is generating and whether it is enough to cover the cost of my lifestyle plus support for my parents.🤞
So, if the question is about cost of my lifestyle as a percentage of my passive income, I have an answer. 😊
@@A.Singaporean.Stocks.Investor. i got this feeling i butchered my question haha. I think cost of your lifestyle as a percentage of your passive income also can!
@@KyithNg I know what you mean. I often make mistakes when I talk these days. Growing old sucks. 😢
Well, I have said before I need $48k a year myself. So, that's about 21% of passive income generated by my investment portfolio last year.
Of course, if we include $48k for parental support, it goes to 42%.😅
Assuming that income generated by my investment portfolio 2 years from now stays roughly the same, assuming savings in my CPF OA delivers another $24k a year in income, then, my lifestyle would take almost 19% of the combined income.
If we were to include interest income from my fixed deposits and T bills using cash, then, the % falls to 17.7%.
Of course, if things were to go awry like I said in the video, $48k lifestyle could take away 22.8% of my total passive income 2 years from now.
Together with money required for regular parental support, almost 46%.
So, within the realm of realistic possibilities, I think I can truly retire without worries in Singapore 2 years later. 😊
Of course, I believe you have a more profound reason for asking the question and it wasn't just out of curiosity. 🤔
@@A.Singaporean.Stocks.Investor. thanks for sharing the breakdown. I am more interested in thinking about things like this and if you don't mind me here are some thoughts. I think firstly, we have to think about yourself first and having a buffer of 4 more times what you need already have a lot of margin of safety. We think of some of the worse case cuts for dividend in one year, the worse is about 25-30%, if the portfolio is well diversified across sectors and your plan will survive. if in 3 years inflation increases by 30% in an high inflation environment, the income need is perhaps only 27% of the total income needs.
I think the latter (high inflation) is a challenge for most people who look to retire but in your case, you do have ample buffer and should handle that pretty well.
You should be quite secured personally, but I guess it is the unknown expenses that you may be worried about. I guess we all have to make some estimation what kind of scenario we fear and how much more we need. If your 48k already includes that then you have already buffered for it but if not the place to start is what and how much.
I feel CNA could have beefed up his credentials a bit more by sharing his background in the video . Also left a comment there for others to understand better.
Yeah. So many insensitive comments. Trolling and dissing too. Terrible. 😮💨
I think the word "retirement" means different things to different people. Personally, I don't have an issue with "portfolio management" as that is a task that I relatively enjoy. Contrast that with working crazy long hours under healh-risking pressure at a consultancy company or a bank. "Retirement" to me means, you answer to no one and you more-or-less do what you want every day. Our time is ours. Even when we can enjoy this, we still have to do (and not do) some things. We may still need to "work" on our portfolio to maximise returns, or we may have to not sucumb to the temptation to spend $20k at the Chanel store for our better half ! Oh, and 1 thing I almost forgot. If we want to live a good and hopefully long life we can never retire from the work of ensuring we get exercise. And this is WORK that one simply cannot retire from.
Absolutely!
AK, i'll put my neck out there too - I think you will never truly 'retire retire'. You think about these numbers and planning a lot. Unless you're completely distracted by gaming, if not, I think you'll always be dabbling in investments and structuring your portfolio of some sort - even when you reach the "really can retire stage".
My speculation hehe.
aren't a bad thing to think during retirement
Oh dear. I hope you are wrong. 😱
But I can see why you say that. Let's see if the laid back AK or AK the worrier wins when the time comes. 😅
Actually monitoring and adjusting the portfolio is not work but more of a hobby.
😅😅😅
Hope AK will.continue to talk and worry himself until he will not completely retire from his video blog.😅
You so bad! 😱
@@A.Singaporean.Stocks.Investor. its good for AK so he wont get senile or dementia and continue to share his wisdom
@@yengkoontan7184 OMG! 😅 I can learn to play Sudoku from my mom and Mahjong from my dad. 🤣
How much capital is required to achieve 200k in dividend per year 😮
It takes time to accumulate.
singaporeanstocksinvestor.blogspot.com/2023/08/how-to-get-200k-dividends-yearly.html?m=1
How i wish i would have such passive income like you.. this is really impressive. Thank you so much for your sharing. To have 230k passive income generated a year, i think the capital should be around 5 mil right… i really wonder how much you save and invest when you are younger…
Let time do most of the heavy lifting and it wouldn't need as much capital.
singaporeanstocksinvestor.blogspot.com/2023/08/how-to-get-200k-dividends-yearly.html
I think actively managing your investments is a choice and a good habit, especially since you are good at it.
On the flip side, what do you intend to use the time for? If you are spending less time on managing investments?
I have lots of stuff I think I should do. I should look into spending more time on activities to improve physical fitness, for example.🤭
I also get the feeling that I might have to get ready to be a care giver as both my parents are entering their late 70s now. 🤞
@@A.Singaporean.Stocks.Investor. Yes, time to level up other stats, after money stat is maxed out...
@@abelangjq To be honest, the money stat can never be maxed out but I have to draw a line somewhere to say it is enough or it would always be "maybe just a little more." We cannot make all the money in the world. 🙊
@@A.Singaporean.Stocks.Investor. Yep, I think the money stat is maxed(or at the peak of the diminishing returns curve) once passive income > living expenses+inflation.
We are better off maxing other stats then.
@@abelangjq 💯👌🥳
I don't get some of the logic. So, OK, interest rates are going to stay higher for longer, possibly for years longer, and the ultra-low rates are a thing of the past. But, on the other hand, there is an assumption that in 2 years from now, the UOB One Account won't pay the (relatively) high 4% it will be from May 2024. How can that be? I don't understand how you can make both of these assumptions together.
Well, I thought the same thing about the 5% interest rate paid by the UOB ONE account until they reduced it to 4% with effect from tomorrow. 😅
@@A.Singaporean.Stocks.Investor. Well that is because interest rates have eased slightly and UOB has bought the rate back to more-or-less the market rate. Actually still slighly higher than the t-bill rate. If we assume interest rates stay higher for longer it makes sense to assume that that UOB One Account rate will stay at or slightly above the t-bill rate for longer too.
@@john-lm1xo 🤞🤞🤞
really retire means going to mandai BBQ. actively managing your fund keeps the mind sane.
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AK, even if I have 200M I will also be looking to grow my wealth even as I only spend 0.5% of it a year. What else is there to do?
I have lots of things on my bucket list. 😅
In Singapore, must keep a low profile after you achieved FIRE. Stay silently rich. 🤫 I am considering to stop updating my blog next year.
I enjoyed watching "lifestyle of the rich and famous" many years ago. 😎 But if rich, better not be famous. Safer. 🙊
If investing is entertaining, if you're having fun, you're probably not making any money. Good investing is boring. --GEORGE SOROS
Oops 🙊
Once a worrier, always a worrier 😂 maybe worry lesser only. You will be worried if you are not worried 😂😂😂
I think I need to see a doctor. 😅
with the recent fiasco of deleting SA account after 55, cant help for me to think whether if OA's safe haven of 2.5% will still exisit when i retire in 19 years time. too many cpf rich ppl in sg and our govt don like to give free lunch to ppl. 🤣
🤞🤞🤞