I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Friday 30 May 2014

One advice from Uncle8888 on your retirement planning to retire before the official retirement age at 65 (Re-employment at 62)???


On the ground, Uncle8888 hasn't seen that many old folks at his company who were successfully re-employed till 65.

If you are NOT high income earners; you CANNOT depend on your saving rate and poor investment return to retire before 65.

You have NO CHOICE but to spend your time and effort to seriously get your hands dirty to learn investing skills, made few big mistakes along the way and finally you will learn to be wiser and may hit your investing goals to retire before 65.

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle






3 comments:

  1. I only attended 2-day course on "Essential Finance for Non-financial managers." and rest of the investing and financial knowledge came from reading tons of books and 10,000 hours of Googling.

    Goolge is the Master of Knowledge Seeking

    ReplyDelete
    Replies
    1. Thanks to few kind souls in the cyber world for clearing my doubts and understanding during my early days of serious investing.

      Delete
  2. Singapore Business Review

    A sad salary tale: 4 out of 5 Singaporeans are unhappy with their wages

    10-20% pay hike could make them happy.

    In the first half of this year, Singapore was named the costliest city in the world for expatriates, causing a stir amongst locals who actively debated its implications on their lives.

    In light of that, JobStreet.com conducted a survey recently to find out how the cost of living is affecting Singaporeans.
    The results show that 31 percent said that their salary can cover their basic needs and some small non-essential luxuries.

    42 percent said it is only sufficient to cover their basic needs. However, 23 percent said they are struggling to make ends meet on the salary. Of this group, 70 percent earn less than $3000 per month. Only 4 percent said they were very comfortable with their salary.

    Despite the majority being able to meet their basic needs, the survey showed that 83% were not satisfied with their current income.

    JobStreet,com also looked at how their salary was being spent. As expected, basic necessities made up the biggest portion, accounting for between 30-40 percent of income. Of these basic necessities, housing ranks as the highest expenditure, closely followed by expenditure for food, transport, family (dependents like children and parents) and utilities.

    When asked how they are managing to make ends meet, 70 percent indicated that they carefully budget their spending, while another 16 percent said they take on second jobs to cope with the high cost of living. On a positive note, 50 percent said they manage to save between 10 to 20 percent of their salary each month. However, 32 percent of them said they are not able to save any money.

    When asked how much they felt the salary should increase by to be satisfied, 66 percent of said it needs to be between 10 – 20 percent. According to Singapore Statistics, the average monthly wage in Singapore was $4,998 in Q4 of 2013. However, 53 percent of respondents to our survey identified $6,000 as the ideal monthly salary to deal with the current cost of living in Singapore.

    ReplyDelete

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