Would You Retire Overseas?

We always talk about retirement in Singapore and the projected expenses that we need to reach financial freedom. I set out on my journey with a target of having a passive income of S$3000 per month by the time I am 40 to cope with the rising cost of living in Singapore and possible inflation of my standard of living.

Now that I am 28 officially, my goals still stand with similar projections.

All I need is S$616,930.67 with a 6.5% annual yield to reach my goal.

Sounds easy? Of course not. That 600-odd thousand amount is the amount of money I have to have in my investment instruments ALONE. All the money I have in my CPF or emergency funds, or even war chest to be specific enough should not count in that amount.

Based on those numbers, I also have to pump in S$30,000 of fresh funds per year. That is not a small amount at all, and barely leaving me any other money for additional savings or other purposes.

But recently, I was introduced to another solution to reach retirement much faster. How fast you say?

November 2018 – Portfolio Updates

One more month left until the end of 2018. It’s time that I start reflecting on my achievements for this year. Soon, you will also see my expenses report, goal review and the final portfolio update in preparation for new goals in 2019. I still have one month to accomplish my goals for the year and I’m wondering how I will feel after 2018 have passed.

Will I be upset or elated over my experiences? Somehow, I feel that self-fulfillment has been something that I’ve always struggled with. Since young, I’ve been taught to be competitive and aim for higher achievements (e.g. getting better results when I’ve already gotten 85/100 for a test), but when will I ever find the silver lining? It is probably something deeper inside me that I have to deal with.

But anyway, I’ll put reflection aside for now – or a month – and focus on something more relevant.