Have u encounter situations like this??

[tonychat]

Back to my thread. Don't u feel pissed of the mixed and contradictory messages?? People that top management lauded, groomed, and the position was highlighted as critical.... But when those people leave, they are left vacant and sometimes made redundant. I know company strategies change from time to time but these kind of actions sometimes smack of the mindless politicking that goes on. In my case I know for a fact that it is due to vested interest. The boss has made this guy his no 2. He groomed him, promoted him and soon it became apparent his no 2 is beginning to outshine him. So he stopped the 'grooming' process, made life uncomfortable until when the headhunter came calling, he is only too willing to jump ship. Now that he is gone, the boss made his position redunctant. Mission accomplished!!

That is called sinkie behaviour ..many losers in this forum do that too.

 

[enterprise2]

I'm surprised that so many do not understand what "retirement" means. It isn't about wandering around like a lost soul with nothing to do and nowhere to go. It's about having the freedom to do what you want to do rather than what you're paid to do.

Before I retired, I was beholden to others in one way or another. My schedule was dictated by my commitments. My plans needed to take into account the plans and schedules of other people.

Now that I'm retired, I'm busier than ever but I'm doing what I have planned for myself. Since I don't have to worry about making money, I can plan things that spend money instead and I can assure you it's a lot more enjoyable.

For example, between Jan and Mar this year, I had a target to spend $129,000 before the 31st of March which is when company books need to be closed and tax returns submitted. I did this in order to pay $0 company taxes.

To achieve this goal of paying no company tax, I went on an orgy of photography and outdoor activities with a group of like minded friends and fellow club members. We had a fantastic time. At the end of it all, we came back with more than 3000 images that have been uploaded to stock image sites where they can be purchased.

However, it doesn't matter if they don't sell. That's the beauty of retirement. It removes the stress of having to earn a living to pay the bills.

The PAP obviously wanted to make the word "retirement" a dirty word which conjures up the vision of wasting away at home and living an aimless existence. Based on your remarks, it looks like they have succeeded.

Ok, great for u. I need to find such a lobang to enjoy this kind of 'retirement'. Anyway my job not so stressful so can say I am semi-retired.

 

[Raiders]

I'm fucked! I can only save 60k a year and I'm 30 years old already! How to reach 5m for retirement!!

 

[lorrydriver]

I'm fucked! I can only save 60k a year and I'm 30 years old already! How to reach 5m for retirement!!

60k a year damn good liao lor....make sure you don't anyhow spend it, you'll be ok....

 

[lorrydriver]

Got a colleague. He's been with the company for 6 years. He is what in HR jargon called an 'individual contributor', meaning he got no one working under him even though his title is manager. He's always bitching about his job, overworked, over stressed...etc but his boss seem to value him, got promoted twice in 6 years. His pay must be over $10k and he drives a 5 series. The funny thing is that he has resigned, probably headhunted and when he left, his boss decided not to fill the position. This really gets our goat, people seemingly indispensable, overworked, valued by senior management team....etc and when they leave, they are not replaced. So their leaving has no impact on the company?? I think this type of situation is not uncommon, right?

there are a lot of things we don't get to see .....maybe the boss finally got wise to this guy and let him go and obviously no need to replace him...the resign may be their arrangement to save face for both.....you sure the guy got a new job? maybe he hang out at the library everyday now....

 

[Raiders]

60k a year damn good liao lor....make sure you don't anyhow spend it, you'll be ok....

In lucky not to have any debt except the pigeon hole. Both my wife and I are quite thrifty. I normally give myself $200 to spend a week. If I need a commercial screw, I will make sure I hit my monthly sales target I set myself before I go for it. This might not be the lifestyle many people wants but at least I'm happy with it

 

[looneytan]

I'm fucked! I can only save 60k a year and I'm 30 years old already! How to reach 5m for retirement!!

You save 60k a year! Then I am more fucked!

 

[looneytan]

How to get $5m?? I got family and mistresses to feed!

I'd say cut off the family

 

[lorrydriver]

In lucky not to have any debt except the pigeon hole. Both my wife and I are quite thrifty. I normally give myself $200 to spend a week. If I need a commercial screw, I will make sure I hit my monthly sales target I set myself before I go for it. This might not be the lifestyle many people wants but at least I'm happy with it

good on you bro.....spend a bit is ok. think carefully about big ticket items....if you continue like that for 20 years, then even without interest earned you would have accumulated 1.2m...wow, even if you don't make it, to have around $800k cash at 50yo is shiok enough.....but don't get "caught" by the sales talk of all these financial planners and buy unnecessary products.......

 

[looneytan]

for 20 years, then even without interest earned you would have accumulated 1.2m..........

make sure to dig up the Milo tin from under papaya tree now and then to see if the money is still there,

.... with people like tonychat around you can't be too careful

 

[LordKrishna]

make sure to dig up the Milo tin from under papaya tree now and then to see if the money is still there,

.... with people like tonychat around you can't be too careful

Pianz you still have papaya tree means you have garden means you on landed property. Knn like that no need to think of $60k per year liaoz just sell the bloody house you can fly like me LordKrishna liaoz.

 

[lorrydriver]

make sure to dig up the Milo tin from under papaya tree now and then to see if the money is still there,

.... with people like tonychat around you can't be too careful

raiders will not put in Milo tin under papaya tree lah....he'll put them under PRC papayas and have class (cup) A, B and C categories....for $10, $50 and $100 notes..

 

[tonychat]

Well $10k salary is quite common after a few decades of working.....if u climb steadily up the ladder...so really no big deal. As for savings/investments - over $1.5m but if u go by Sam's calculations I am still some way off the $4m mark needed for retirement.

Isn't it a bit slow to wait for decades in order to Ger 10k income per month?

 

[tonychat]

good on you bro.....spend a bit is ok. think carefully about big ticket items....if you continue like that for 20 years, then even without interest earned you would have accumulated 1.2m...wow, even if you don't make it, to have around $800k cash at 50yo is shiok enough.....but don't get "caught" by the sales talk of all these financial planners and buy unnecessary products.......

No need finanical planner...his 800k in 20 years time become 400k value or less. One packet of noodles will cost $10 instead of $3.

 

[enterprise2]

Isn't it a bit slow to wait for decades in order to Ger 10k income per month?

$10k though common is still pretty decent. The median wage is what under $2k!! That's 5x. Plus I am semi-retired. Boss overseas and he don't bother me. My people under me are competent and they don't bother me too!

 

[Raiders]

raiders will not put in Milo tin under papaya tree lah....he'll put them under PRC papayas and have class (cup) A, B and C categories....for $10, $50 and $100 notes..

Haha. I think I know who you are :p

 

[tonychat]

$10k though common is still pretty decent. The median wage is what under $2k!! That's 5x. Plus I am semi-retired. Boss overseas and he don't bother me. My people under me are competent and they don't bother me too!

I am not referring to the amount. I am referring the length of time which is perceived to get that amount.

 

[Leongsam]

I'm fucked! I can only save 60k a year and I'm 30 years old already! How to reach 5m for retirement!!

If you can save 60k a year, then in 5 years you'll have $300,000.

You take $50,000 of that $300,000 to create an enterprise that you can add value to over the next 10 years. The remaining $250,000 will serve as a buffer while your cash flow is negative. If you don't have to operate an overdraft, you're already ahead of the pack.

If you remain focused, your enterprise plus any spin offs should be worth around $5 million by the time you reach 40.

Remember my simple formula, if you can get 100 people to part with $100 per month, that's $10,000 per month in revenue or $120,000 per year. Double that and you're looking at a quarter of a million dollars a year. If your business model is sound, a business with this sort of turnover should be worth a fair bit of money.

Or you could go with the low cost / high turnover model of getting 1000 people to part with $10 per month to achieve the same result and work towards growing the customer base even further.

 

[Leongsam]

Ok, great for u. I need to find such a lobang to enjoy this kind of 'retirement'. Anyway my job not so stressful so can say I am semi-retired.

It has nothing to do with finding a "lobang". It's about generating sufficient wealth while you're working in order to achieve financial independence.

Your job may not be stressful but I gather you're earning in excess of $10,000 per month which is good money by any measure. However, if you were to lose your job tomorrow, would you be able to enjoy the same standard of living?

 

[enterprise2]

It has nothing to do with finding a "lobang". It's about generating sufficient wealth while you're working in order to achieve financial independence.

Your job may not be stressful but I gather you're earning in excess of $10,000 per month which is good money by any measure. However, if you were to lose your job tomorrow, would you be able to enjoy the same standard of living?

If lose job tomorrow, u find me in Bedok Reservoir!