15 years in Singapore!

[abbby]

Congratulations and all the best to you and your family! Do come back here to share your wisdom!

[Lisafuller]

Congrats, WD40! Soon to be 25 years for us!

[Wd40]

About work - I don't doubt that you have a lot to never have to work. I was more curious about how you would approach the matter of work knowing that you no longer have to work for the money.

I am moving to Bangalore which happens to be an IT hub. The easiest thing to do there is finding an IT job. While everyone else will be trying to aim for the highest salary and growth, I can take a relaxed job if I want to.

I dont believe free lancing etc makes sense. I may upgrade my skills since in the last 15 years in Singapore I didn't have the motivation to learn anything new.

I might learn Python and Cloud and see if I can get some interesting work to do.

I think FIRE doesn't mean no work forever. It is just a change in mindset, where you stop maximizing for income and you kind of enter a new phase of life where you work only because you like or you want to and money becomes secondary or just a by product.

I think Barista FIRE is also such, but in Barista FIRE, people do fewer hours of work, more relaxed work, but they do need that extra income.

In case of proper FIRE you don't need that extra income, but it is quite possible in case of some people where their new career after FIRE earns them more money than their original career.

One the biggest problems in Singapore for me is that I feel like a corporate slave here because, I cannot change my job due to visa issues. I can't take a break here. So I really needed to get to FI stage and move to India and take a break to find my freedom from this slavery. The managers here have a ball of a time behaving like total dictators because they know employees don't have a choice, they have mortgage loans or they have work pass restrictions. This is why Singapore is one of the most stressful countries in the world.

Those are my thoughts about work

[malcontent]

The best kind of F.I.R.E. is Financial Independence, Remain Employed… provided you love your job.

Sometimes F.I. is the enabler to leave your job and find your true passion in life. I hope for the same.

[smoulder]

The best kind of F.I.R.E. is Financial Independence, Remain Employed… provided you love your job.

Sometimes F.I. is the enabler to leave your job and find your true passion in life. I hope for the same.

Love this one. And totally agree that remaining employed is the best kind of F.I.R.E.

[Wd40]

Yes, indeed, but I don't want to emphasize on the "remain employed". The emphasis is on "don't need to be employed". The whole idea of being "employed" has this negative conotation to it, of being owned by someone.

It started back in the day when people used to work as slaves and had masters. In a workplace, often it is not too different. It is just a glorified version of slavery.

The only way out is if you can call your own shots, set your own boundaries, if you don't feel like working from office you can just decide to work from home, at your own convenience.

The moment you are being forced to do something beyond your own will, you are a slave. You are obeying someone's orders.

To me, what is the point of having all the money in the world, if you have to wake up in the morning and drag your arse to the office, just because your boss doesn't trust that you can work independently?

[NYY1]

Whether remaining employed, calling your own shots, or working without the need to do so, I think the advantage is not having to draw down on the nest egg or consume some of the returns.

One risk of cashing out early is that the income/wealth levels in your area go up faster than expected. I'm sure no one will starve, but the specific cost of living could squeeze people. If you look at how the income and wealth gains are accruing to different portions of the population, this will be a bigger or smaller factor depending on where one is planning to live.

That being said, everyone is going to have a point at which they are comfortable enough and just don't care/value freedom more.

[Wd40]

Whether remaining employed, calling your own shots, or working without the need to do so, I think the advantage is not having to draw down on the nest egg or consume some of the returns.

One risk of cashing out early is that the income/wealth levels in your area go up faster than expected. I'm sure no one will starve, but the specific cost of living could squeeze people. If you look at how the income and wealth gains are accruing to different portions of the population, this will be a bigger or smaller factor depending on where one is planning to live.

That being said, everyone is going to have a point at which they are comfortable enough and just don't care/value freedom more.

Financial independence is a long journey and the whole planning starts long before you actually decide to retire early.

This decision is not something to be taken lightly. There is lots of mathematical calculations and scenario analysis which goes behind it. All the risks are also taken into account.

Ofcourse, no plan can be full proof, but that I can bet you a person who has meticulously planned for their FIRE and hit 2 million dollars and retires early at the age of 45 is at a lower risk than a person who doesn't know how to save or invest and ends up retiring forced or otherwise by the age of 60.

I think we humans adapt and will eventually find something to do with our time and find some way to make money too, if needed.

A person who is financially savvy is extremely unlikely to screw up in the financial department. Maybe there are other side effects to retiring early, but I can bet you money is not going to be the problem.

[NYY1]

Financial independence is a long journey and the whole planning starts long before you actually decide to retire early.

This decision is not something to be taken lightly. There is lots of mathematical calculations and scenario analysis which goes behind it. All the risks are also taken into account.

Ofcourse, no plan can be full proof, but that I can bet you a person who has meticulously planned for their FIRE and hit 2 million dollars and retires early at the age of 45 is at a lower risk than a person who doesn't know how to save or invest and ends up retiring forced or otherwise by the age of 60.

I think we humans adapt and will eventually find something to do with our time and find some way to make money too, if needed.

A person who is financially savvy is extremely unlikely to screw up in the financial department. Maybe there are other side effects to retiring early, but I can bet you money is not going to be the problem.

I'm sure you have put a lot of thought into the decision and done a bunch of calculations/scenario analysis.

BTW, I made a general response in relation to some of the recent posts and was not replying to anyone directly or questioning anyone's decision.

Still, one of the most dangerous situations is when we think we know everything and shut out all other responses. We've all done it (I am not immune either). Sometimes we learn something else or think differently in the future with no damage done. Other times we find ourselves in a bit of a jam, but we are still able to fix it (no damage but lots of stress). And on other occasions it causes a lot of problems, and we wish we had known something else earlier.

You may know a lot and there may be someone that knows more. Or perhaps you know equal amounts, and both have gaps that could be augmented by the other. Regardless, there's no reason to engage when someone does not want to consider anything else.

Anyways, best of luck and I'm very happy for your time in Singapore/accomplishing your goals (sincere comment). Regards.

[aster]

We are unable to get PR in Singapore, so there is no more any reason to stay back here.

Very interesting read and I hope that everything goes well for you!

Do you really have zero chance of becoming PR after 15 years in Singapore? I thought they would have even pushed you towards it as I didn't think you could stay on a work pass for sooo many years...

[PNGMK]

Being here a long time is not a kpi for PR.

[Wd40]

We are unable to get PR in Singapore, so there is no more any reason to stay back here.

Very interesting read and I hope that everything goes well for you!

Do you really have zero chance of becoming PR after 15 years in Singapore? I thought they would have even pushed you towards it as I didn't think you could stay on a work pass for sooo many years...

Yes, zero chance. But you are right, it may not be possible to stay here much longer on work pass either. They are already tightening the screws. It is best to leave on a high note on your own terms, rather than being forced to leave, when you are least prepared.

[aster]

Why is it so difficult, I would have thought that they'd want good, tax-paying residents with a proven track-record to stay?

Attracting billionaires can't be the solution because they're probably never around anyway, sort of like ghost-residents who are only local on paper. You also cannot expect every new PR to be a brain surgeon.

Plus a lot of people might eventually leave ("emigrate") back to their home country at an older age anyway (milder climate, more space, old-age/medical care back home), which would help lower the population count as well as the % of elderly people in society. Seems like a win-win scenario...

[PNGMK]

Why is it so difficult, I would have thought that they'd want good, tax-paying residents with a proven track-record to stay?

Attracting billionaires can't be the solution because they're probably never around anyway, sort of like ghost-residents who are only local on paper. You also cannot expect every new PR to be a brain surgeon.

Plus a lot of people might eventually leave ("emigrate") back to their home country at an older age anyway (milder climate, more space, old-age/medical care back home), which would help lower the population count as well as the % of elderly people in society. Seems like a win-win scenario...

Race. WD40 is wrong color.