It is everyone’s dream to achieve financial freedom and escape from the rat race as young as possible. Like everyone else, I share the same aspiration. That is primarily one of the reasons for founding this wealth blog. In recent years, many local financial bloggers shared that they have attained semi-retirement status and left the corporate world for good. In this article, I will share my retirement strategy and how I aim to reach my goals.
According to BlackRock’s Global Investor Pulse Survey 2017, it was revealed that Singaporeans worry about outliving their retirement savings but not doing enough to prepare for retirement. Results showed 64% of Singaporeans worry about running out of money in retirement, the highest proportion in Asia-Pacific. Nearly nine out of 10 Singaporeans (87%) believe they are responsible for their own retirement income.
Everyone has their pathway in life and one should not compare their financial status with others. My retirement strategy is very simple – I plan not to retire at all. This statement may come across as oxymoron but simply put, I hope to extend my career shelf life as long as possible. I don’t relish the idea of idling around and being seen as not contributing to the progress of the society.
Life is all about challenges and experiences. At the end of the day, I may not have accumulated sufficient wealth to have a comfortable retirement, but I certainly hope to lead an enriching life.
For those who hate working for money, ask earnestly whether you have a purpose that justify retiring without a job. Chances are, you would struggle to find other meaningful purposes or activities that can keep you occupied or active on a day-to-day basis for the rest of your life. You would find that time slow down when you reach retirement and the days become dreadfully long. No amount of hobbies, leisure travelling and rest would keep you engaged for long. After some time, you would be sick of idling around.
And then there is the issue of money. There are bloggers who claim to retire from the corporate world but find themselves struggling to cope with the daily expenses. They start to panic at the loss of income and then turned to become private tutors.
There is nothing wrong with being a tutor as it is a decent way of earning a living. But are they doing this because of their passion to teach or are they tutoring for the sake of easy money? I am inclined to give them the benefit of the doubt but the matter of fact is that the tutoring industry is not regulated at all. Any Tom, Dick and Harry can claim to be a professional home tutor. My question is if you have truthfully attained financial freedom, would you trade one job for another one?
Of course, there are many people who are forced to retire because of poor health or sickness. When that day come for me, I guess there is no choice but for me to [This is a premium article. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. To read the full content, please sign up as member.]
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