Would like your opinion on to retire or not

[qxq]

I've accumulated 1.25M SGD to-date... thinking of moving to Kuala Lumpur and retire.. problem is I'm 39, and the sole breadwinner. Just me and my wife, she's a housewife. Still long way to go lifespan wise (knock on wood). So reckon I've got about 50 years to go... is that enough to go on? I was planning to get by on 2,800SG per month.

Hate my job...

Would you retire if I you're in my shoes?

Very much appreciate your opinions.

[sundaymorningstaple]

I tried to retire at 48 from the oil industry. I lasted 15 months before I got bored and returned to work. I retired again 3 months ago. Will see how it goes this time. (I'll be 72 in 3 months.)

[Strong Eagle]

Not a large enough nest egg. Yes, at 4 percent per annum, it will provide you with your desired S$2800 per month. But, retiring at 40 means that you are planning on 50 years worth of retirement income, and inflation will mean that you will need double or triple your estimated expenses in the future. That means you need to keep growing your nest egg over time.

S$2800 month isn't much to live on, even in KL. And, I don't know what your background or nationality is, but KL can be an absolutely infuriating city to live in.

I'd do a lot more research into your long term income needs, and I'd look at multiple alternatives to live. 50 years is a long time, more time that you have already lived in total.

[Max Headroom]

Retiring isn't all that it's cracked up to be. Rather than retiring outright, I'd aim for working a few hours per day. It's more of an optional thing, so the real do-or-die pressure is off. But equally important, it'll keep you on the ball, reducing shrinkage. Of the brain I mean.

To wit, you can do some online consulting, SOHO-based, keeping things modestly sized of course, so it doesn't get away from you all over again.

It's fulfilling too. Plus it tops up your nest egg.

Win-win I reckon.

[Wong_Jnr]

If you just hate your job, just change job.
Hating your job isn't IMO a reason to consider retirement especially at your age.

[qxq]

Thanks for everyone's input. Actually you're all quite spot on. I don't plan on quitting job and stop working altogether. Initially thinking of just taking a 1-2 years break in KL... recharge, learn new skills, and re-discover what I was wired to do. And on the side take on part time gigs.. I earn a good living in SG at the moment, frankly scared to let it go... but it mentally and physically exhausts me to the bone.

One additional note is that on the capital I've been able to generate some monthly passive income. Roughly SG2,000 per month. So technically, I can stretch my income further. If I can find something to do on the side, even just to break even, technically I need only to worry about inflation. Assuming of course SG2,800 is enough (my current cost of living is SG6,500 in Singapore).

My nationality is Asian, of Chinese roots. Although I was raised in North America. I'm a fairly boring guy, and can be quite content to be at home, having the occasional beer and ribs/steak at the bar and movies.

[PNGMK]

You should research "FIRE" (financial independance retire early). there are some good subreddits on it.

[archcherub]

You should research "FIRE" (financial independance retire early). there are some good subreddits on it.

I love FIRE. yeah man, reddits has many good quality threads on FIRE (and many non good threads too)

i wonder if FIRE can be achieve easily in singapore.
food is relatively cheap here but housing and car are expensive

[PNGMK]

You should research "FIRE" (financial independance retire early). there are some good subreddits on it.

I love FIRE. yeah man, reddits has many good quality threads on FIRE (and many non good threads too)

i wonder if FIRE can be achieve easily in singapore.
food is relatively cheap here but housing and car are expensive

With a HDB it can be. A bit hard with a condo due to endless costs.