Who are going slow here?

[Emkay]

I resigned last Nov just before the financial crisis.

 

decided to "go slow" and spend more time with my family.

 

Went for some voluntary works and took a one month holiday with my family.

 

Do housework.

 

Also started a part time free lance job to kill time from May.

 

When I turn 40 in a few months time, I'll rejoin the workforce.

 

Quite a refreshing experience after working in the same industry for 18 years. Just have to lower my expectation in material stuffs. Downgraded from a 2L TC car to a 1.3L budget Jap car.

 

Would recommend anyone do this when they feel really "tired" from their work. But must work with your spouse on the finance bits first lar.

[Dwoon]

Cannot leh...... single income..... I don't work, whole family starve liao.

[Pcslim]

Wow. Bro, I admire your courage.

 

Btw, did u ensure that u have sufficient financial buffer b4 u decide this? Cos no $ coming in is one thing, spending $ esp with the family holiday is another thing.

[Whattafarck]

me used to have double income...both of us working....no SuperBoy back then...

barely had any savings....looking back, i really wondered wat if some emergency came up...& we had no savings!!

then along came SuperBoy...decided...that only me continue work & she promote become Home Affairs Minister.

now..mader-in-law staying with us....

my work...still enjoy doin it....income way much better than dual income back then...

more fulfilling & wholesomeness is there.

[Brock]

I resigned last Nov just before the financial crisis.

 

decided to "go slow" and spend more time with my family.

 

Went for some voluntary works and took a one month holiday with my family.

 

Do housework.

 

Also started a part time free lance job to kill time from May.

 

When I turn 40 in a few months time, I'll rejoin the workforce.

 

Quite a refreshing experience after working in the same industry for 18 years. Just have to lower my expectation in material stuffs. Downgraded from a 2L TC car to a 1.3L budget Jap car.

 

Would recommend anyone do this when they feel really "tired" from their work. But must work with your spouse on the finance bits first lar.

 

Was your wife working too?

[Emkay]

Was your wife working too?

 

Yes my wife still working.

 

I still have income, despite doing just freelance work and at about 4-5 hours/day and 3-4 days a week, I managed to clock in about 70-80% of my previous pay. But I manage my own time and minimal travelling so my expenses also go down quite substantially.

 

during the last 8-9 months, I still manage to maintain my saving and pay for most of the household bills without my wife's contribution. Just that I have to change to a lower maintenance car to cut the cost on commuting.

 

Also no medical benefit lar .. so have to keep healthy.

 

But most of us, if we just list down our monthly expenses, and have a few column at the side of each of these, and mark if those are really necessary, you may be supprised you don't really need much to sustain a reasonably good lifestyle in Singapore.

 

Some of those things we avoid are

- high car expenses (if one take a 90% loan for a 50K car, he is effectively paying the 50K car for 63-64K, or 30% higher), going for a lower cc 2nd hand car save me about $600-700 every months with parking in CBD.

- expensive eating out (since I have so much time, I cook at home, it's fun and healthier too - when both of us are working full time, if we do get a chance to eat together, I'll need to spend around $30-$50 / meal, that is about $800-$1000 a month excluding parking and other kind of expenses),

- groceries - we used to do cold-storage as we can only do groceries shopping at night ... now I will go JB tesco/giant , have not calculated yet, but I do save quite a fair bit from there.

 

We have also bought a property in JB (no loan), now renovating, if rent out, that will subsidise our income abit more .. but the motivation is to move to JB and rent out SG's home if both me and my wife decided to retire early.

 

 

[Wang2inc]

Bro me too... I wanna stay in JB but the traffic jams terrible la bang, maybe if I have flexi time for my job then can seriously consider living in JB. For me no wife and kids, so for the time being can live anywhere.

[Emkay]

Bro me too... I wanna stay in JB but the traffic jams terrible la bang, maybe if I have flexi time for my job then can seriously consider living in JB. For me no wife and kids, so for the time being can live anywhere.

 

last time was very do-able. I live in JB from 1995 - 2002.

 

But that was the time when coming into Singapore, SG car and MY car are using separated lanes. In the morning, not many SG car come into SG so very fast.

That was also the time when going into MY, SG passport and MY passport separate lanes at JB lane, and MY passport no need check (just flash cover), also very fast.

 

So I am Malaysian driving SG car as SPR, both way also very fast for me. I worked in Suntec at 9am, I leave house in JB 8:15am still got time for quick breakfast/car wash in JB.

 

ever since they build the new custom, 911 terror attack and both side Government quarrel and quarrel, no much such timing already.

 

But it's still do-able if you can work flexible hours

[Albeniz]

When I turn 40 in a few months time, I'll rejoin the workforce.

 

For most professions, it might not be easy to rejoin the workforce at the age of 40.

Most companies might prefer to hire cheaper, younger FTs on a contract basis.

This is especially true in my field.

 

 

[Emkay]

 

When I turn 40 in a few months time, I'll rejoin the workforce.

 

 

For most professions, it might not be easy to rejoin the workforce at the age of 40.

Most companies might prefer to hire cheaper, younger FTs on a contract basis.

This is especially true in my field.

 

It's is sad but also very true in Singapore.

 

We just have to adjust our expectation and be grateful with what we have. At the same time, extend your scope to overseas opportunities, like many urbanised society, veteran workers are considered less desirable as they tends to have more non-work commitment (family etc.) and more difficult to managed, there are still a lot of overseas destinations that offers slower pace of living and comparable standard (read: not cost) of living.

 

BTW, which industry are you in?

Edited July 20, 2009 by Emkay

[Albeniz]

Engineering.

Heavily-trained in semicon area but now need to steer away from this field in times like this.

[Blue850r]

This kind of topic can only indicate that TS felt that he is now at his most wealthy point. This is usually a case where a huge sum of money suddenly comes into his hand.

 

As for any steady income earner, it is like collecting the droplets from a tap to fill the basin. When the basin is very low (at young age, just started work), you feel it takes a long time to fill up the basin. At a later age, mid life crisis kicks in, the basin also quite full (+ some windfall), you will feel that the basin of water is probably enough to last through the next 30 years.

 

It also depends on how you want to live your life from now on.

[Albeniz]

As for any steady income earner, it is like collecting the droplets from a tap to fill the basin. When the basin is very low (at young age, just started work), you feel it takes a long time to fill up the basin. At a later age, mid life crisis kicks in, the basin also quite full (+ some windfall), you will feel that the basin of water is probably enough to last through the next 30 years.

 

I like your analogy. Very well-put.

[Emkay]

This kind of topic can only indicate that TS felt that he is now at his most wealthy point. This is usually a case where a huge sum of money suddenly comes into his hand.

 

As for any steady income earner, it is like collecting the droplets from a tap to fill the basin. When the basin is very low (at young age, just started work), you feel it takes a long time to fill up the basin. At a later age, mid life crisis kicks in, the basin also quite full (+ some windfall), you will feel that the basin of water is probably enough to last through the next 30 years.

 

It also depends on how you want to live your life from now on.

 

nicely put.

 

For my case is more like my attention went outside the basin (also the basin cannot be dry or leaking big time lar), and decide to spend more time with family (I used to work > 10 hours a day for several years, at some point up to 18 hours a day for months). While the dripping tap is faithfully filling up the basin, it just came to a point I ask myself: "what for".

Edited July 20, 2009 by Emkay

[Blue850r]

That is why some people choose to retire and enjoy their life at an earlier age. Usually have to take a step back too.

 

Enjoying life and enjoying luxurious life is both different.

[Blue850r]

Due to inflation, accumulation of wealth at young age is slow due to high expenses and low income. You may need to accumulate for 20 years and only good to spend for 10 years. So overly early retirement is dangerous.

 

It also destroy the achievement spriit of mankind and non contribution to the society that gave us the opportunity to be here.

[Rollagt]

This type of thread always makes me feel depressed and inadequate. Dowan to think so much about retirement, having enough money etc...I'll be content to live in a 'home for the aged' till death comes ripping, as long as I can still listen to Heavy Metal & Jazz, everyhting will be just fine...

 

Gosh ! Heavy metal and Jazz ! Me too ! I thot I am the only extreme person..Haha!

[Windwaver]

Engineering.

Heavily-trained in semicon area but now need to steer away from this field in times like this.

 

Seriously, it never pays to be an engineer. During my time, you got to have top grades to get into engineering faculty. Pays more school fees cos the course is longer and involves more material/tools but yet the 1st to be retrenched. So many of my engineering friends are done for.