cny deep thoughts - Is it ok to retire with these restrictions

[chootchiew]

Just to gather some feedbacks if you think it is alright for a single to retire before 50 with the following guides and restrictions.

1. able to pay monthly electricity, water and conservancy bills
2. able to pay monthly internet service
3. able to pay for basic mobile phone service with basic data package
4. a daily 2 meals total not exceeding $10 per day
5. able to afford max $30 of transportation fare per month. This will be mostly used for going out jalan jalan, window shopping, la kopi with friends.
6. able to afford half packet of cigarettes per day
7. able to spend max of $80 per month for shopping, buying new gadgets etc
8. able to afford a full body massage (excluding happy ending) once per month

For medical expenses, due to the range is too difficult to estimate, as we will not know when we will fall sick, I shall just take it as being able to continue to visit polyclinics for pre existing chronic illness . Unless fell too sick, else will use home remedies for common flu etc.

I am not sure if the above plan is feasible. If can will take the plunge to retire.

 

[Wunderfool]

What are you planning to do during retirement?

 

[VanHalen]

I'd hardly call that retirement. Your description is only enough to get by. Survival.

Retirement to me is something like this.

 

[kryonlight]

Do you own your place of residence?
Do you have enough Medisave to pay for your yearly Medishield Life premiums?

 

[halsey02]

Just to gather some feedbacks if you think it is alright for a single to retire before 50 with the following guides and restrictions.

1. able to pay monthly electricity, water and conservancy bills
2. able to pay monthly internet service
3. able to pay for basic mobile phone service with basic data package
4. a daily 2 meals total not exceeding $10 per day
5. able to afford max $30 of transportation fare per month. This will be mostly used for going out jalan jalan, window shopping, la kopi with friends.
6. able to afford half packet of cigarettes per day
7. able to spend max of $80 per month for shopping, buying new gadgets etc
8. able to afford a full body massage (excluding happy ending) once per month

For medical expenses, due to the range is too difficult to estimate, as we will not know when we will fall sick, I shall just take it as being able to continue to visit polyclinics for pre existing chronic illness . Unless fell too sick, else will use home remedies for common flu etc.

I am not sure if the above plan is feasible. If can will take the plunge to retire.

(1), is a necessity, (2) & (3) used to be luxury, buy nowadays consider 'necessity', (4) is survival needs, $10 per day you can't eat much...breakfast alone cost $10 at coffee shop ( not KOPITIAM), you can skip lunch, dinner will cost another $10..BF, LUNCH & DINNER ( coffee shop) will cost you $30 a day....(5) $30 is not enough, (6) Smoking...you have to forgo (7) that is a luxury & (8) that is privilege....can afford a full body massage...can afford (1) - (8)...

 

[chootchiew]

What are you planning to do during retirement?

nothing much, becos currently while working also cannot afford much entertainment. Salary is too low for most entertainment.
Mostly will spend time at home watching tv, sleeping, surfing internet. Go out jalan jalan.

 

[chootchiew]

I'd hardly call that retirement. Your description is only enough to get by. Survival.

Retirement to me is something like this.

yes totally understand your real meaning of retirement. But those you mentioned even I continue to work till death is also not affordable.

 

[chootchiew]

Do you own your place of residence?
Do you have enough Medisave to pay for your yearly Medishield Life premiums?

yes own it. Well medisave is at current cap.

 

[chootchiew]

(1), is a necessity, (2) & (3) used to be luxury, buy nowadays consider 'necessity', (4) is survival needs, $10 per day you can't eat much...breakfast alone cost $10 at coffee shop ( not KOPITIAM), you can skip lunch, dinner will cost another $10..BF, LUNCH & DINNER ( coffee shop) will cost you $30 a day....(5) $30 is not enough, (6) Smoking...you have to forgo (7) that is a luxury & (8) that is privilege....can afford a full body massage...can afford (1) - (8)...

I usually skip bf cos sleep till late. For lunch and dinner I estimate as $4 lunch + $6 dinner for basic food. Drink plain water is healthier.
Yeah still need some basic necessity of internet.
I still factor in ciggy as this shall be the main companion, however from 1 packet reduced to half packet a day , must control.
For massage once per mth is good mentally and physically.

Forget about travelling totally as I do not really enjoy travel, is tiring.

 

[kryonlight]

yes own it. Well medisave is at current cap.

Since you own a home, have you considered renting it out and using the money to retire somewhere in Thailand or Malaysia?

 

[Froggy]

Why retire and la kopi why you can kill time by doing some work and getting paid?

 

[chootchiew]

Since you own a home, have you considered renting it out and using the money to retire somewhere in Thailand or Malaysia?

Yeah, renting will definitely be an option but at a later stage. Probably when reach 55 onwards.
But to other country, I will be a lonely old man there. In sg at least have kakis.

 

[Froggy]

Since you own a home, have you considered renting it out and using the money to retire somewhere in Thailand or Malaysia?

Be ready to pay to get visas

 

[kryonlight]

Why retire and la kopi why you can kill time by doing some work and getting paid?

Because the ultimate purpose of this forum is to learn how to retire early. Cursing the PAP is just sidetrack.

 

[chootchiew]

Why retire and la kopi why you can kill time by doing some work and getting paid?

Problem is I am sick and tired of reporting to work and at the call of people. Cannot think of any own business and also not into any risk.

 

[looneytan]

Problem is I am sick and tired of reporting to work and at the call of people. Cannot think of any own business and also not into any risk.

Find some work that you like to do lah like going to court to defend people or stay home to write novels

 

[JohnTan]

You should find some form of part-time work or regular volunteer work to keep yourself occupied. The first few weeks of doing nothing post-retirement may be a great experience. But after a while, you will likely get bored with so much free time on your hand and nothing to do. It is hard to fill up all that time with a hobby or hobbies. Also, many of your friends won't have time to meet up with your on a daily basis for long periods.

 

[chootchiew]

Find some work that you like to do lah like going to court to defend people or stay home to write novels

There are certain types of jobs that I think will enjoy but people do not want to hire e.g. model photographer, lifeguard, mediacorp actor.
Stay at home definitely will find some hobby lor.
You mean be a lawyer ? Siao bo .

 

[virus]

Find some work that you like to do lah like going to court to defend people or stay home to write novels

b a gigolo, climb the human everest explore her amazon forest and be prepare for muff diving.

 

[Wunderfool]

How much do you have now ?

If you are a single and have 600k and a house fully paid up, you can happily retired in Singapore for the next 10 to 15 years.

If you want to stretch it to 20 to 25 years, you should consider retiring in Malaysia or Thailand.