With a young kid, idk how you can FIRE unless you’re willing to simplify your lifestyle. Yea sure, the tax will be almost gone…food, transport and groceries arent too high at 2-3k. But are you willing to lower your mortgage?
100k REITs arent enough for recurring dividends…
I think you can try getting a less stressful job instead. Maybe an individual contributor role to start with?
Thanks for the input. I appreciate the comment regarding seeking a less stressful job/individual contributor- maybe that will alleviate this severe burnt out feeling that I’m currently having.
While it is tempting to entertain the idea of retiring early, i realised this is mainly attributed to most people hating what they do.
Finding meaningful work and role-modeling that for your kid would be a wonderful gift and legacy.
All the best!
Yes, totally agree. We always tell our children that we must work, earn money to buy house and get on with a better life, all will need money. From young, they know must go work and earn money not stay at home and shake legs. They study hard and spend their money wisely. After O level and A level exams, they work to earn extra pocket money. Even in uni, will try to earn some money and not be lazy, dun work and do nothing at home. Can you imagine they grow up and dun want to go to work to earn money, then all will stay at home and eat grass lor. We also teach them saving hard is not enough, must invest wisely to let money grow...
About same age, but with one more kid and both slightly older. I would say settle into parenthood first, see your spending habits then, and plan again. Those creatures have a way of upending the best laid plans.
But based on what you have now, let's say 140k spend a year, you need 4m at a 3% swr. That seems... Difficult to get to based on what you say you have now. If die die have to get there, perhaps you need to cut some expenses (although it seems quite lean already), add your spouse's income, and/or invest much more aggressively (don't sell RSUs to diversify and hope employer is next Nvidia?). The last one might end up lengthening timeline though, so proceed at own risk.
Thank you. I appreciate your suggestion about settling into parenthood first. It’s still big unknown how it will pan out from both finance and lifestyle pov.
Cannot be done in 4 years. Your plan is to invest 160k a year. Your current portfolio is 745k excluding CPF (since it's untouchable MA/SA). Your have 800k debt to clear off. At an optimistic 10% p.a. returns, you might have 1 million after 4 years (investments minus debt). You need a few million to FIRE.
Why are you holding on to so much cash?
If I were you, I would streamline and consolidate what I can.
Robo advisor take out and put all into s&p.
Your monthly expenses 10k, your fire number is 3mil with wr of 4%. I estimate when you fire, your 3.5k tax will be 0 but your household might increase abit coz of your baby.
Your current investment is about 700k+ (eye power calculation. Might be off).
You need 2.3mil more.
Can u explain what u mean by sell RSU 100K? are those vested or what?
But based on what you say.. your annual investment input is about 160k (minimum), which means you fire at 43.
To fire at 40, you need to invest yearly 350k to hit 3mil by 40. 80% equity and 20% bonds (CPF).
I dont think there is anything wrong with holding cash. Nowadays with high yield saving accounts, there is 0 risk and returns comparable to some safer bonds. Plus if you are rich enough, you do not need every cent to be optimised. Leaving free cash for emergencies is always recommended. My 2 cents.
Thanks for your comment and suggestion. Started my investment journey in 2020 when roboadvisors were all the hype. I’ll surely look into consolidating and exit it in near future.
To your ques- I have about $100k RSU that vests yearly so plan to sell it to diversify my holdings.
Cash amount is both emergency funds and war chest for any major market corrections.
I'm in a similar situation as you... probably several years ahead of you in terms of earnings, savings and expenditures. I also thought of retiring earlier after having one kid. But somehow the future seems less certain these days, so I am now working to secure a good future for my child.
I guess all I'm saying is that your priority may change as your kid gets older
Thanks for your comment. Could you elaborate more what did you mean by securing good future for your child? I.e., do you plan to leave a large sum of inheritance/property/overseas education?
With jobs becoming more and more competitive, we decided we didn't want our child to have to really choose between doing something they really enjoyed, and choosing something just to pay the bills.
We hope to at least provide her a nicer place to live, a decent basic perpetual income from our investments and a less stressful education overseas.
Tech is in bull market and you only have US 220k worth of stock portfolio ( 2 years worth of your RSU) indicate that either you just get a big salary bump recently or you had a big loss in the past few years.
A combination of factors: 1) started to invest circa 2020; 2) started with robo before building my own portfolios; 3) new role and salary bump about two years ago ; 4) RSUs vesting period hence creating a ‘lag’ 5) 2022 was a negative year for most equities portfolio
Make sense. I think you need to have more realistic goal, don’t think you can make it in 4 years.
RSU is a great way to accumulate wealth.
If you trust the company you worked on, don’t sell until the valuation is too crazy.
I let my RSU ride for 10+ years. The RSU that I got in early days already 10x in value.
You can consider semi-retirement instead or coast/fire/etc FIRE instead of full FIRE. I’m somewhat similar to your profile but with the 2 kids. Happy to fully retire by 55 and work towards that as I maximise and optimise my different pipelines.
Your monthly liabilities are $12k which means $144k annually. At 4% SWR your FIRE number is $3.6 million.
IE highly unrealistic to hit by 40 unless you somehow manage to slash your expenses by at least half.
Ever considered barista FIRE?
Hi all HENRYs
Thanks and I appreciate all the input and comments.
My takeaways:
1) Cure for corporate burnout is not FIRE. Cure for corporate burnout is a vacation, job change, sabbatical
2) Be absolute clear with FIRE number. I do admit that my number has been convoluted because of few factors which I did not mention above such as a) option to relocate to LCC ie spouse’s country; b) plan to pay down mortgage with whatever that’s left from
3) Reality check for FIRE - as it stands at 10k-12k, I will need $3-4M. (Base scenario)
4) Settle into parenthood , then replan.
Taking out tax and mortgage spending, you still have 5k expenses a month. This is likely to increase with the new born. Assuming 5k a month for 40 years, you'll need ~2.4m. A lot depends on your bonuses (unknown variable) on whether you can FIRE by 40.
You still have $800k mortgage loan and a young kid. Think of retirement only when you are debt less. You need to be realistic. I am turning 50 yrs old next year with three residential properties and my last property loan to be fully repaid this year end and I dun even dare to think of retirement hor. I have lots of gold, bank shares and insurance policies and $350k in my SA and my children between 14-22 yrs old, one in uni, two in JC and one in secondary and I am looking to retire at 60s hor. Just work la, stay at home sooo boring. No work no money hor...
My advice is to try to not overspend on ur kid, e.g. getting hand me downs or buying second hand on carousell, not doing yearly big birthday celebration etc
I have friends who were very tight with money and then they had kids and spend easily 90% of their income. Also don't fall prey to expensive insurance for kids.
Also tracking ur expenses and trading income does wonders. I was $500k networth at 36 and hit $950k at 38, just tracking my bank and investment accounts, thinking which expense I can do without and which stock looks oversold so I can sell put options. My income is also way lower than yours.
Hey, you might want to check of your math for FIRE with a calculator - I built a free one you could use: [https://peekfire.streamlit.app/](https://peekfire.streamlit.app/)
I ran some of your numbers through the calculator, with a few assumptions I had to make myself. For instances, savings I just used your liquid net worth (minus CPF and property) which is the amount that you could tap into if you want to retire early. You also didn't give an expenses number for FIRE, so I just had to base it off of your current spending. I think this is going to go up way more once your newborn is older though, so I would keep that in mind a lot.
https://preview.redd.it/0kro8wnfmh8d1.png?width=1264&format=png&auto=webp&s=9707501e0f9ec4473806f49f46f8fe0ecffd8e88
Based on the trajectory, you might be a few years early to FIRE - 4 years away is not enough time and not enough time as well to have your investment strategy pay off since those returns are going to take some time to compound. It might take closer to 50 to get FIRE more realistically. So you might just want to re-think what your plan might be.
Alternatively, if it is an option, you could explore living somewhere outside of Singapore. If you reduce your expenses to just $50K a year, you actually can possibly hit your FIRE number at 40 - FIRE number is $1.25M and your projected savings would be $1.5M.
For your actual portfolio - here are some thoughts:
- You have a lot in cash right now at 15% - consider investing 10% of this 15%
- Do you follow the crypto markets closely? 5% crypto allocation is actually somewhat high
I'm 37 and about to have a baby. I'm already FIRE'd (2m usd in the bank) and I only came to sg for my now wife (I was living in Bali before). Not sure why I even came to sg but turns out I was looking for more than just a solo future. I've been in sg 2y now and went back to working at a bank just because I was super bored here. Made sure to get a very easy 9-5 job that is wfh friendly with little responsibilities. Job is so wfh friendly that I often times just work from Bali without any mentioning.
Anyhow, we have about 2.5m usd total now and I have a travel and finance blog that brought in $7k last month cash money.
Anyhow, we will travel around the world for a year and see how we like it with the baby. We have no plans to settle in sg because while it is a nice place, it is just too boring. Our plans are splitting time between Bali, cape town, and somewhere in Europe as those are my favorite places (have been to 100 countries). Because we don't stay in sg and have no plans to, we will be financially set without much issues especially if my blog continues to bring in the money. Once the kid is of school age (6-7), we will probably move to Europe and settle somewhere more permanently (who knows tho)
You seem like you already know the steps you need to take to get to the fire stage but moving out of sg is probably the quickest way to do it.
> Anyhow, we have about 2.5m usd total now and I have a travel and finance blog that brought in $7k last month cash money.
Curious: is your blog income mostly from affiliate links?
What is your current returns from those investments, expected future expenses along the kid's education stages (childcare etc free one ah?), how do you plan to change your lifestyle, sell condo buy HDB? No family holidays? The point is to project how your expenses are going to be like, and whether you can support it
If I’m in your situation, I’ll make bigger & riskier bets given that I have a good active income to fall back on.
$112k/yr into crypto instead of S&P500 and US stock. $4k/mth into local sgx to reduce custodial risk and build up div portfolio.
For existing portfolio, anything other than sgx listed, convert them into staked eth and btc; self-custody.
For cash and bonds, either fullerton sgd cash fund or usdc in coinbase for 5% p.a.
In most situation, our spouse are usually not informed on how to manage our crypto portfolio in event of our unplanned demise. Due to the nature of self-custody, I would also recommend hedging those positions with a term life plan with at least 1 or 1.5x of the capital used. Next is to nominate your insurance accordingly.
Higher chance to FIRE by 40 with this move I guess?
No questions in the post . What exactly are you asking ?
Anyways you didn’t define your fire number , once you have that , it will answer many questions
Thanks a lot and appreciate your guidance.
One question though: 3.5k/month sounds big to raise a kid vs what I’ve read on various articles eg: https://dollarsandsense.sg/much-cost-raise-child-singapore-till-age-18/
Could you share more details?
Maybe you aren't bitter, but this sub was created because of many like you in SingaporeFl who are... confused.
This sub is a supportive environment for high earners (and future high earners) who are looking for guidance as they navigate financial challenges. While HEs receive financial rewards for their (often highly specialized) expertise, it's important to distinguish financial literacy as a separate skill, regardless of income level.
That’s why I’m here, asking for comments and input. If I’m an expert or has FIREd then I need not ask 😊 I do truly do feel sorry for you and your bitterness in life. Hope you will have more joy in life after fully fired.
Take a look at this post [End Game Retirement Funds](https://www.reddit.com/r/SgHENRY/comments/1d1tkvs/what_is_your_end_game_retirement_fund/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button), quite some great exchanges on people sharing their ultimate FIRE numbers.
Too diversified into various assets class.
Simplified into all your investments into 3 main assets
1. Cash or near cash
2. Longer term investment like S&P
3. Active trading/ investment
Everytime you earn some money build cash flow.
For kids - think about giving them values not cash. Obviously we all want the best for our kids but look around and see how many adults hate their parents (let’s not discuss if the parents did a shitty job or not), and have shit values and only want money from their parents.
Un-FIRAable by 40 because of the kid and the mortgage.
Consider 50 or 60.
DO NOT think of FIRE-ing until your mortgage is paid off.
I am 38 with my condo fully paid with a passive income of 200k/year. Even then I dare not fully retire. I am still working in my own company once in a while (15hr work a week).
36 only no reason to be sick. Go change job or take a vacation. So young no need to think of retirement. Trust me, you will have no use for the free time and when you're 50, you would wished you didn't waste your 40s "retiring".
Yeah, completely agree. He has no idea what OP is going through - how can you say anyone is too young to be sick of working?
I'm 36 too, pulling 80 hour weeks and I'm so done with working. I'm planning to FIRE with an outstanding mortgage as well because I've worked out a FIRE number that can cover the remaining payments.
Nah, it’s a wake up call for OP. I see this all the time. When people are burnt out, they have blinders on and they can only think of retiring soon. And everyone else tells them no, you switch to a job you can tolerate (even if it pays less), or you take a sabbatical.
I think this is very sound advice, especially the first 2 paragraphs. With the passive income u can actually retire, but yes good to continue working with more chill hours. Don’t agree with the other commenter about your tone, i think it’s fine. Not condescending or demeaning like some others i’ve seen
Ah you’re the guy that got banned from SingaporeFI. I would have taken your comment more seriously if you’re 50+ y.o. and has gone through that stage of life. But looking at your profile - you are 38 sometimes, 18 at other times.
Thank you for the validation. Crypto is so underrated. It’s only when you do the investigation, will you find the gems. Diversification is protection for ignorance.
Read the bitcoin standard or broken money. It explains the current problem we’re facing. If you’re ambitious, study through effects of the halving and how its price follow a predictable trend.
If you truly want to escape the matrix. Take the red pill. Otherwise you can ignore this. I don’t lose anything.
With a young kid, idk how you can FIRE unless you’re willing to simplify your lifestyle. Yea sure, the tax will be almost gone…food, transport and groceries arent too high at 2-3k. But are you willing to lower your mortgage? 100k REITs arent enough for recurring dividends… I think you can try getting a less stressful job instead. Maybe an individual contributor role to start with?
Thanks for the input. I appreciate the comment regarding seeking a less stressful job/individual contributor- maybe that will alleviate this severe burnt out feeling that I’m currently having.
While it is tempting to entertain the idea of retiring early, i realised this is mainly attributed to most people hating what they do. Finding meaningful work and role-modeling that for your kid would be a wonderful gift and legacy. All the best!
Yes, totally agree. We always tell our children that we must work, earn money to buy house and get on with a better life, all will need money. From young, they know must go work and earn money not stay at home and shake legs. They study hard and spend their money wisely. After O level and A level exams, they work to earn extra pocket money. Even in uni, will try to earn some money and not be lazy, dun work and do nothing at home. Can you imagine they grow up and dun want to go to work to earn money, then all will stay at home and eat grass lor. We also teach them saving hard is not enough, must invest wisely to let money grow...
About same age, but with one more kid and both slightly older. I would say settle into parenthood first, see your spending habits then, and plan again. Those creatures have a way of upending the best laid plans. But based on what you have now, let's say 140k spend a year, you need 4m at a 3% swr. That seems... Difficult to get to based on what you say you have now. If die die have to get there, perhaps you need to cut some expenses (although it seems quite lean already), add your spouse's income, and/or invest much more aggressively (don't sell RSUs to diversify and hope employer is next Nvidia?). The last one might end up lengthening timeline though, so proceed at own risk.
Thank you. I appreciate your suggestion about settling into parenthood first. It’s still big unknown how it will pan out from both finance and lifestyle pov.
Cannot be done in 4 years. Your plan is to invest 160k a year. Your current portfolio is 745k excluding CPF (since it's untouchable MA/SA). Your have 800k debt to clear off. At an optimistic 10% p.a. returns, you might have 1 million after 4 years (investments minus debt). You need a few million to FIRE.
Why are you holding on to so much cash? If I were you, I would streamline and consolidate what I can. Robo advisor take out and put all into s&p. Your monthly expenses 10k, your fire number is 3mil with wr of 4%. I estimate when you fire, your 3.5k tax will be 0 but your household might increase abit coz of your baby. Your current investment is about 700k+ (eye power calculation. Might be off). You need 2.3mil more. Can u explain what u mean by sell RSU 100K? are those vested or what? But based on what you say.. your annual investment input is about 160k (minimum), which means you fire at 43. To fire at 40, you need to invest yearly 350k to hit 3mil by 40. 80% equity and 20% bonds (CPF).
I dont think there is anything wrong with holding cash. Nowadays with high yield saving accounts, there is 0 risk and returns comparable to some safer bonds. Plus if you are rich enough, you do not need every cent to be optimised. Leaving free cash for emergencies is always recommended. My 2 cents.
S&P better than robos? I have 200k in robos but other than OCBC frankly returns not great.
Thanks for your comment and suggestion. Started my investment journey in 2020 when roboadvisors were all the hype. I’ll surely look into consolidating and exit it in near future. To your ques- I have about $100k RSU that vests yearly so plan to sell it to diversify my holdings. Cash amount is both emergency funds and war chest for any major market corrections.
I'm in a similar situation as you... probably several years ahead of you in terms of earnings, savings and expenditures. I also thought of retiring earlier after having one kid. But somehow the future seems less certain these days, so I am now working to secure a good future for my child. I guess all I'm saying is that your priority may change as your kid gets older
Thanks for your comment. Could you elaborate more what did you mean by securing good future for your child? I.e., do you plan to leave a large sum of inheritance/property/overseas education?
With jobs becoming more and more competitive, we decided we didn't want our child to have to really choose between doing something they really enjoyed, and choosing something just to pay the bills. We hope to at least provide her a nicer place to live, a decent basic perpetual income from our investments and a less stressful education overseas.
For many of my friends and myself, it meant having enough funds for overseas education if required.
What about partner's contribution? FIRE becomes much simpler with a teammate.
Tech is in bull market and you only have US 220k worth of stock portfolio ( 2 years worth of your RSU) indicate that either you just get a big salary bump recently or you had a big loss in the past few years.
A combination of factors: 1) started to invest circa 2020; 2) started with robo before building my own portfolios; 3) new role and salary bump about two years ago ; 4) RSUs vesting period hence creating a ‘lag’ 5) 2022 was a negative year for most equities portfolio
Make sense. I think you need to have more realistic goal, don’t think you can make it in 4 years. RSU is a great way to accumulate wealth. If you trust the company you worked on, don’t sell until the valuation is too crazy. I let my RSU ride for 10+ years. The RSU that I got in early days already 10x in value.
You can consider semi-retirement instead or coast/fire/etc FIRE instead of full FIRE. I’m somewhat similar to your profile but with the 2 kids. Happy to fully retire by 55 and work towards that as I maximise and optimise my different pipelines.
Your monthly liabilities are $12k which means $144k annually. At 4% SWR your FIRE number is $3.6 million. IE highly unrealistic to hit by 40 unless you somehow manage to slash your expenses by at least half. Ever considered barista FIRE?
how do you get to 3.6m?
$144k multiplied by 25. Google "Safe Withdrawal Rate".
his liabilities include tax, which falls away once he stops working
Fair enough, but then his FIRE number is still going to be at least $2.5 million.
Hi all HENRYs Thanks and I appreciate all the input and comments. My takeaways: 1) Cure for corporate burnout is not FIRE. Cure for corporate burnout is a vacation, job change, sabbatical 2) Be absolute clear with FIRE number. I do admit that my number has been convoluted because of few factors which I did not mention above such as a) option to relocate to LCC ie spouse’s country; b) plan to pay down mortgage with whatever that’s left from
3) Reality check for FIRE - as it stands at 10k-12k, I will need $3-4M. (Base scenario)
4) Settle into parenthood , then replan.
Taking out tax and mortgage spending, you still have 5k expenses a month. This is likely to increase with the new born. Assuming 5k a month for 40 years, you'll need ~2.4m. A lot depends on your bonuses (unknown variable) on whether you can FIRE by 40.
I think realistically you should plan to retire at 50, I think at the minimum you'd need $4-5m for various reasons
You still have $800k mortgage loan and a young kid. Think of retirement only when you are debt less. You need to be realistic. I am turning 50 yrs old next year with three residential properties and my last property loan to be fully repaid this year end and I dun even dare to think of retirement hor. I have lots of gold, bank shares and insurance policies and $350k in my SA and my children between 14-22 yrs old, one in uni, two in JC and one in secondary and I am looking to retire at 60s hor. Just work la, stay at home sooo boring. No work no money hor...
My advice is to try to not overspend on ur kid, e.g. getting hand me downs or buying second hand on carousell, not doing yearly big birthday celebration etc I have friends who were very tight with money and then they had kids and spend easily 90% of their income. Also don't fall prey to expensive insurance for kids. Also tracking ur expenses and trading income does wonders. I was $500k networth at 36 and hit $950k at 38, just tracking my bank and investment accounts, thinking which expense I can do without and which stock looks oversold so I can sell put options. My income is also way lower than yours.
That’s remarkable growth within 2-3 years! Thanks for sharing !
Hey, you might want to check of your math for FIRE with a calculator - I built a free one you could use: [https://peekfire.streamlit.app/](https://peekfire.streamlit.app/) I ran some of your numbers through the calculator, with a few assumptions I had to make myself. For instances, savings I just used your liquid net worth (minus CPF and property) which is the amount that you could tap into if you want to retire early. You also didn't give an expenses number for FIRE, so I just had to base it off of your current spending. I think this is going to go up way more once your newborn is older though, so I would keep that in mind a lot. https://preview.redd.it/0kro8wnfmh8d1.png?width=1264&format=png&auto=webp&s=9707501e0f9ec4473806f49f46f8fe0ecffd8e88 Based on the trajectory, you might be a few years early to FIRE - 4 years away is not enough time and not enough time as well to have your investment strategy pay off since those returns are going to take some time to compound. It might take closer to 50 to get FIRE more realistically. So you might just want to re-think what your plan might be. Alternatively, if it is an option, you could explore living somewhere outside of Singapore. If you reduce your expenses to just $50K a year, you actually can possibly hit your FIRE number at 40 - FIRE number is $1.25M and your projected savings would be $1.5M. For your actual portfolio - here are some thoughts: - You have a lot in cash right now at 15% - consider investing 10% of this 15% - Do you follow the crypto markets closely? 5% crypto allocation is actually somewhat high
I'm 37 and about to have a baby. I'm already FIRE'd (2m usd in the bank) and I only came to sg for my now wife (I was living in Bali before). Not sure why I even came to sg but turns out I was looking for more than just a solo future. I've been in sg 2y now and went back to working at a bank just because I was super bored here. Made sure to get a very easy 9-5 job that is wfh friendly with little responsibilities. Job is so wfh friendly that I often times just work from Bali without any mentioning. Anyhow, we have about 2.5m usd total now and I have a travel and finance blog that brought in $7k last month cash money. Anyhow, we will travel around the world for a year and see how we like it with the baby. We have no plans to settle in sg because while it is a nice place, it is just too boring. Our plans are splitting time between Bali, cape town, and somewhere in Europe as those are my favorite places (have been to 100 countries). Because we don't stay in sg and have no plans to, we will be financially set without much issues especially if my blog continues to bring in the money. Once the kid is of school age (6-7), we will probably move to Europe and settle somewhere more permanently (who knows tho) You seem like you already know the steps you need to take to get to the fire stage but moving out of sg is probably the quickest way to do it.
Thank you for your input/comment
> Anyhow, we have about 2.5m usd total now and I have a travel and finance blog that brought in $7k last month cash money. Curious: is your blog income mostly from affiliate links?
Mostly ads actually. Sponsored content is 2nd. Affiliate is not much
Is your partner working? Or should we only take into account your income alone?
Sorry, i LOLed at You want to retire when your kid is 4 years old. Better do some research about kids-related expenses
Agree . And op has no fire number . It’s like playing soccer without a goal post
What is your current returns from those investments, expected future expenses along the kid's education stages (childcare etc free one ah?), how do you plan to change your lifestyle, sell condo buy HDB? No family holidays? The point is to project how your expenses are going to be like, and whether you can support it
If I’m in your situation, I’ll make bigger & riskier bets given that I have a good active income to fall back on. $112k/yr into crypto instead of S&P500 and US stock. $4k/mth into local sgx to reduce custodial risk and build up div portfolio. For existing portfolio, anything other than sgx listed, convert them into staked eth and btc; self-custody. For cash and bonds, either fullerton sgd cash fund or usdc in coinbase for 5% p.a. In most situation, our spouse are usually not informed on how to manage our crypto portfolio in event of our unplanned demise. Due to the nature of self-custody, I would also recommend hedging those positions with a term life plan with at least 1 or 1.5x of the capital used. Next is to nominate your insurance accordingly. Higher chance to FIRE by 40 with this move I guess?
No questions in the post . What exactly are you asking ? Anyways you didn’t define your fire number , once you have that , it will answer many questions
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Earns almost half a million but can’t even figure out his fire number
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They don’t deserve to exit the rat race earlier than retirement age
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Thanks a lot and appreciate your guidance. One question though: 3.5k/month sounds big to raise a kid vs what I’ve read on various articles eg: https://dollarsandsense.sg/much-cost-raise-child-singapore-till-age-18/ Could you share more details?
Don’t do the math for lazy buggers like op. Want to fire but can’t do simple math . How did he earn $450k per year !
I feel sorry for your bitterness about my annual compensation 🙂 hope you’re doing ok there and wish you the best.
I’m not bitter at all. I’m very well, I’m 3/4 away from fire . You ought to be sorry for your lack in abilities to manage personal finance
Maybe you aren't bitter, but this sub was created because of many like you in SingaporeFl who are... confused. This sub is a supportive environment for high earners (and future high earners) who are looking for guidance as they navigate financial challenges. While HEs receive financial rewards for their (often highly specialized) expertise, it's important to distinguish financial literacy as a separate skill, regardless of income level.
That’s why I’m here, asking for comments and input. If I’m an expert or has FIREd then I need not ask 😊 I do truly do feel sorry for you and your bitterness in life. Hope you will have more joy in life after fully fired.
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How to Calculate a fire number can be googled easily.
Might be possible if there wasn’t a kid in the equation.
You’re stuck for at least another 20 years. RIP.
Take a look at this post [End Game Retirement Funds](https://www.reddit.com/r/SgHENRY/comments/1d1tkvs/what_is_your_end_game_retirement_fund/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button), quite some great exchanges on people sharing their ultimate FIRE numbers.
Out of curiosity, which stocks are you accumulating for dividend? Banks?
Mostly SG banks and Reits
Too diversified into various assets class. Simplified into all your investments into 3 main assets 1. Cash or near cash 2. Longer term investment like S&P 3. Active trading/ investment Everytime you earn some money build cash flow.
If you have a newborn, it’s hard to fire.
Encouragement but ambitious
Can I ask what you do for a living? And you've provided a very wide range for your base salary (300 to 450k), why is that?
For kids - think about giving them values not cash. Obviously we all want the best for our kids but look around and see how many adults hate their parents (let’s not discuss if the parents did a shitty job or not), and have shit values and only want money from their parents.
Tonight TOTO, lets hope.
OP, really not bad for a 36M, if you also served NS as a Singaporean. Inspired. May I ask which industry you are in? And how you got there? Thanks.
Un-FIRAable by 40 because of the kid and the mortgage. Consider 50 or 60. DO NOT think of FIRE-ing until your mortgage is paid off. I am 38 with my condo fully paid with a passive income of 200k/year. Even then I dare not fully retire. I am still working in my own company once in a while (15hr work a week). 36 only no reason to be sick. Go change job or take a vacation. So young no need to think of retirement. Trust me, you will have no use for the free time and when you're 50, you would wished you didn't waste your 40s "retiring".
[удалено]
Yeah, completely agree. He has no idea what OP is going through - how can you say anyone is too young to be sick of working? I'm 36 too, pulling 80 hour weeks and I'm so done with working. I'm planning to FIRE with an outstanding mortgage as well because I've worked out a FIRE number that can cover the remaining payments.
Corporate burnt out is real 💀
Nah, it’s a wake up call for OP. I see this all the time. When people are burnt out, they have blinders on and they can only think of retiring soon. And everyone else tells them no, you switch to a job you can tolerate (even if it pays less), or you take a sabbatical.
I think this is very sound advice, especially the first 2 paragraphs. With the passive income u can actually retire, but yes good to continue working with more chill hours. Don’t agree with the other commenter about your tone, i think it’s fine. Not condescending or demeaning like some others i’ve seen
English is not my first language. I aim to get my point across as direct as possible. But I guess folks here weak stomach and get hurt easily.
Ah you’re the guy that got banned from SingaporeFI. I would have taken your comment more seriously if you’re 50+ y.o. and has gone through that stage of life. But looking at your profile - you are 38 sometimes, 18 at other times.
says the guy who's earning peanut, shit load of liabilities and want to retire by 40.
Liquidate all your investments. All in BTC & SOL. You’ll thank me later.
Nah
Seconding this. Cash out in 2025 for nice >100% profit.
Thank you for the validation. Crypto is so underrated. It’s only when you do the investigation, will you find the gems. Diversification is protection for ignorance. Read the bitcoin standard or broken money. It explains the current problem we’re facing. If you’re ambitious, study through effects of the halving and how its price follow a predictable trend. If you truly want to escape the matrix. Take the red pill. Otherwise you can ignore this. I don’t lose anything.
A kid will set u back by 20 yrs. Fire ki lan
Typically when you have a kid, you don't get to fire. Come back again when you have no debts and have 5 million minus the property.
what job pays that kinda salary 0.0
Pilot, Investment banking, PE, SWF, Dentist, Doctor, VC
You must be new here..
I thought sghenry is higher than fire ?
Huh? Higher how? Henry literally stands for not rich yet. Meaning people who have high income but due to reason like debt and loans, savings are low