Quote:
Originally Posted by ilovepantyhose
have to account for inflation, 2.5k/mth now means that 10 years later it will be 3k/mth (assume 2% annual), 20 years later it will be 3.7k/mth. if u switch to low stress job, u might end up stressing again because the salary cannot maintain your expenses. also, u won't be able to save up much because u spend most of what u earn. if u are sg citizen, your cpf is locked up until your 60s, and by then u receive a few hundred every month, its enough for jiak cai png lim kopi. but if u are rich man son ah siah kia, then no issue la 
right now, u have an extra 1500 per month after expenses, u can save up and invest a portion of it, u may not see the benefits until 20, 30, 40 years later
do u have any side hustles? are u monetizing your hobbies? for eg: if u know how to play an instrument, u can teach for some side income
lastly, what do u want in life? and how do u plan to achieve it? its something to think about
all the best  |
Thanks pantyhose for the advice, you are right about spending most of income on expenses when income is low and might have another stress issue which is money, point taken.
unfortunately, i dont have any side hustles.
what do i want in life? hmm i envision myself being single and wants to retire/work for fun or at the very least not to be worry about money about the age of 45? Hence i come up a plan of having 1.5k to 2k per month for the rest of life. Assuming i start at age 45, needed 24k per year that means i need to have 240k cash in bank so i can reach age 55 to take out a lump sum from cpf and carry on another 10 years to wait till my CPF monthly payout.
That's my thought but i guess to carry out this plan, probably I have to keep my current job so I can achieve with this plan at a faster rate
Thanks for highlighting!