Monday, August 27, 2018

Why I sometimes think about quitting Singapore.



I think I am doing relatively ok in Singapore.

My work planning for the next workshop is proceeding quickly, markets are doing quite well in spite of an impending trade war and my passive income is edging higher this quarter.

Recently, I had a conversation with a friend who is now taking concrete steps to resettle himself in Australia. The complaint about Singapore is typical fare - Society has become more unequal, flats will be taken back after 99 years, and the CPF board seems unwilling to allow folks to ever see their hard earned money. I've done my fair share defending our policies, but I am always mindful that I gamed the system quite well ( being D&D trained after all ) and I was a huge beneficiary of the low dividend tax regime which I exploited from a reasonably young age. 

But even though I am objectively well ahead of most working people here, the thought of quitting Singapore never really left my mind.

When I was an engineer, I thought of quitting everyday when outsourcing was at it's peak and local IT staff were driven out of companies by foreign "talent". When my investments started to do better, I "switched sides" when these same folks who competed against me in the workplace also consumed products and services and, most importantly, paid rent to us locals landlords. This is the reason why I feel that the Government will reopen to doors to FT once our infrastructure can take in a bigger population. Some Singaporeans do benefit immensely from this.

Today my reasons for quitting has changed - I will quit Singapore if my children are unable to get a degree from a local university.

ITE and Polytechnic figures for permanent employment are dismal with about 40% being stuck with gig economy six months after graduation. Polytechnic salaries were stagnant for close to decade prior to the 2011 elections which saw a U-turn on the FT policy. Recently, someone asked me whether Singapore would enter a period of the Lost Decade like Japan: I should have answered that Polytechnic graduates just came out from one 7 years ago.

On this note, I do not understand why so many bloggers, in a bid to please or molly-coddle private degree holders, write such painfully PC posts to them, telling them that managing their Linkedin accounts and working on their EQ and skills future portfolio would somehow erase the lead local graduates have on private university graduates. It's actually quite patronising when these Millenials bloggers have local degrees and claim to be doing quite well in workplace. It sound like gloating to me.

Here's what reality treats folks with private degrees....

Let's face it, if private degree are holders are making 66% of a local grad's pay, alleging discrimination from the industry can only explain a small part of the salary gap. This is because any businessman would happily reduce their manpower costs by a third if they happily reject local grads and hire private graduates instead. A better way is to talk to an SME boss and ask them about their own experiences with private degree holders off the record. Personally, over the years, I had one or stories complaining they soak up more management attention, and a manager's time is also money. This can be another article on another day.

As it turns out, there are some really harsh realities of private degrees that students and private universities do take a certain share of the blame.

All our private universities are audited on procedures but are generally not required by regulatory bodies to meet  standards on content and delivery of material. Furthermore, private university students are customers of these institutions. Local university students are not customers, they are products of their institutions who answer only to the government and industry. It follows logically then that the content that is taught would be less rigourous.

There is also a propensity of private degree students to take management and business courses which, sadly, does not have a "moat" around them ( because they are easy as fuck compared to a tech course ). This is even when there is evidence that fields like engineering and technology practice less discrimination and has higher salaries.

Ok, enough with the brutal manhandling.

Let's have a candid discussion about the mechanics of quitting Singapore for diploma folks contemplating a private degree.

I did some Googling on Malaysian statistics. A Malaysian household spends about $5,300 MYR every month but their household is fairly large at about 4.3 members. So we can say that an average  Malaysian needs about $1,230 MYR every month or about $410 SGD to survive.

To generate about $410 SGD per month, a Singaporean needs a portfolio of only about $70,300 generating 7% yields every year. This is currently achievable using a portfolio of REITs.

Now suppose a polytechnic diploma holder finds a job at $2,200 per month, forgoes a private university degree, and has decided to quit as soon as reasonably possible because he can't stand being in a Crazy Rich Asians elitist society any longer than necessary.

Based on our own statistics on household expenses, a single man can sustain himself on about $1,400 SGD per month. So, it does not take a stretch to imagine that with some lifestyle adjustment, a private degree holder can save about $500 a month. At a rate of return of 7%, this private degree holder can achieve this $70,300 portfolio size within 9 years. Shorter if he gets his increments and farms his bonus back to his portfolio.

A polytechnic diploma holder can start work earlier if he forgoes his private degree. He starts making money at around age 22. So a reasonable escape to Malaysia can take place at around age 31.

The trick is to retain your investments in Singapore while trying to carve a new life and career in Malaysia.

So there you go. I won't quit while I consider myself to be winning here, but not everyone gets to win in a society like Singapore.

I won't write an essay saying that with grit and willpower, private degree holders can also make it in Singapore. That's still up to the individual. With grit and willpower, Bruce Jenner can become Caitlyn Jenner.

But if you are a polytechnic student contemplating a private degree, I showed you a way out of Singapore if you decide to forgo a degree qualification. It's not as politically correct as Ong Ye Kung, but I think it's a workable plan given current market and employment conditions.

But I think with a passive of $400 per month at age 31, you might actually grow to love our country more.

Maybe.

























69 comments:

Ben said...

Hi Chris,

I think that your suggested plan is feasible. Given that a single does not require much to survive, 31 years old is the best time to explore the other parts of the world,apart from Singapore. The world is vast and wide. There is a lot to learn such as the culture, benefits and demographic etc. If the person is a gal, she can start work even earlier. I think that a female poly graduate can start work as early as 19. She has 13 years to earn the fund which is converted to investment portfolio which generates passive income on a consistent basis.

Ben

Christopher Ng Wai Chung said...

You know, the funny thing for women is that they don't really feel the angst of underperforming in Singapore.

Most of the unhappiness I witnessed come from men.

Not sure whether you agree with me on this.

Unknown said...

I'm doing the retirement testing overseas in Thailand now. I'm 43. Costings is 1k a month which gets me a one roomer in the city and two wheels. Actually have 3 sets of two wheels haha.

Ben said...

Hi Chris,

I share the same view as you. So far, it is only my male friends venting their frustration on how life is tough. Though the number is few, the fewer will ever think of geo-abritage to lead a carefree life. They only know how to grumble and complain of their current circumstance. They do not even consider this option as one of the solutions and dismiss it as "foolish thinking". It is their choice.

As of gals, I have yet to hear any from my lady friends on this topic. I am not sure whether they are aware. I opt not to broach this topic to them unless they bring this up.

Ben

Ben said...

Hi Unknown,

Not sure whether you could provide more details on the following:

1) Are you a Singaporean?
2) Do you quit your full-time employment for the testing?

It's alright if you do not feel comfortable to share.

Ben

Christopher Ng Wai Chung said...

Whatever unknown is doing, it's pretty cool !

Ben said...

Hi Chris,

The same applies to U.

Ben

Unknown said...

Hi
Yes I'm a Singaporean.
I've been testing it out for the last 15 months. Started in May, continued for another year on a Thai visa as I felt it successful.
Prior I was driving Uber so easy to move.

Unknown said...

1000 equates to 25k BAHT which is a lot when the locals earn 10k a month. I'm the only foreigner in a Thai apartment block. Finally got my bike license and now I have 3 hahaha.. the Singaporean in me going cheap cheap

Christopher Ng Wai Chung said...

Unknown,

You should really blog about your experiences. I think folks are interested in Geo-Arbitrage as an alternative.

Regards

Unknown said...

Hi Chris, thought about it.but having gone thru the paces and the costs and the head banging, realize that's why it's only blogged in general and the nitty gritty you have to pay for the Hand holding in general.
Probably when I really retire at 50, may set up as small biz.

Unknown said...

I'm in BKK for a short break from my break so replies intermittent. What has been interesting is when you finally let on you're a Singaporean and your acquaintance can tell you bout the other down the road. There are many Singaporean down the road, living, surviving,retiring, but not in BKK

Unknown said...

Oops. Unknown name is Terry.

Henry said...

since the son took over, many singaporeans has suffered because of unable to find a decent paying job or can only get low paying job. more are turning to driving Grab at night or take on a 2nd job. as he drive the population to 10M by massive infrastruture building, good luck to all. too many FT but not enough jobs.

Unknown said...

Christopher is correct. You need to leave your assets here for the foreign talents to slough for you whilst you stay out of the country.
And Malaysia is not an ideal neighbor.

owq said...

For females, they have another option -- find a good man who will support her. Despite increasing gender quality, there are still men around who are willing to provide for the woman.

I am hoping to find a sugar mama, but I'm not sure how feasible that will be.

Unknown said...

That's not a plan A. That's a plan Maybe. If you dont have 1 or 2 cougars at your door now, it's not likely to work.
Better to rely on yourself.
Sure, our earnings/dividends don't sound like much in Sg. But it's worth a lot at all our neighbors.

Simp said...

I like what "unknown" is doing with COL arbitrage.. If one is single or couple without kid, it is pretty easy to do early retirement in low cost of living country.. I hope to start my retirement abroad in 3-4 years time when I am around 52..

Ben said...

Hi all,

I totally agree with the idea of retiring early. I have been through the mills for almost 18 years. Life is not always about work especially in Singapore. It's always good to have options.

Ben

Ben said...

Hi Unkown,

What's your typical day spent in Thailand? Is it fruitful and purposeful?

Ben

Unknown said...

Hi Ben,
I met a short couple, no kids doing this already. They started 2 3 years back. Husband still does a bit of consulting work so they make their main base in Thailand and minor in China. He's 55 this year. Very workable. Their rent is dirt cheap
1 bedroom 250 a month

Unknown said...

Typical day...
Seriously.. rotting away.
I have a list of malls to go and buffets too every week as a guideline in case I get bored. Lunch buffet is cheap at 8 for international and 12 for dim sum or sizzler.
With my scooter,cbr250,cb500, many mountains to ride to.
Caution if you thinking of feeding a LT gf here. They view us all as economic relationship. It's money, not love.
You'll know when the mom sick, dad sick, brother sick, sister sick,dog sick and buffalo sick.

foolish chameleon said...

not sure if i missed the details. but how to get your income?
is this thru passive income from sgp?

i guess this method will only work if there are no kids.
as most parents will at least want their kids to be schooled in sgp (i guess?)

Christopher Ng Wai Chung said...

Yes, passive income is via Singapore.

Numbers assume single male.

Ben said...

Hi Unknown,

I agree with you on this point. I think that it will be worthwhile doing it alone. This is also life experiencing on the geo arbitrage. It will be great to have a common-like partner to embark on such journey. The economic of scale comes into the picture if this becomes a reality. If no, I tnink that it is still ok to go it alone.

Ben

Unknown said...

Quelling worries on income.
Paraphrasing kiyosaki,would you $100 income from 1 source or $10 income from 10 source.
As far as I know after my 1st rtw, our debit cards work rtw for withdrawal.

I'm running on a 1k monthly but I know it's still doable at 700, but not for me. If a couple,1500 a month is good enough.
It is easier as a single but together is still doable, you must know each other well enough.
A 30sqm room at below 250 including utilities, a 2 wheeler at 100, your major costs per month are settled already.
This is doable in Thailand ex Bangkok, whole of Cambodia, Vietnam ex HCMC & Hanoi.
Malaysia needs 1500, best if you're Malay.
Myanmar is cheapest, but not livable.

You need to set that goal, everyday do that little bit more reading and planning, before you know it you're there.
Just remember keep your SIN IC and assets in SIN.

Ben said...

Hi Unknown,

Do a bit each day. One will be one step closer to the goal. I am of view that it will be quite an uphill task to do it as a couple. The significant half may not want to lead such a lifestyle. I think that it's quite hard for the the value and perception of both to align. Novethless, it wil be worthwhile for an attempt. If it does not end up well as planned, one will still have the option of doing it alone.

Ben

Unknown said...

Do the retirement thing overseas is usually one of the make or break for couples if they are not strong together mentally.
You have to start from. From luxury trips to on your own trips then to longer trips before both are acclimated to the mindset.

Of course having eaten more salt then I should, have learnt couples can finally just decide go separate ways one day 10 20 years down the road

Ben said...

Hi Unknown,

The route (which you chose) is one which is less travelled for most. This is a test for the couple. So far, I only see one real life example in which the couple shares the consistent view of geo-arbitrage. I believe that the bond between this couple must be very strong in which they are willing to share the hardship and joy in making this route a reality. You are the first from Singapore whom I know to have chosen such route. I believe that this is due to the way in which we are brought in such system. Meritocracy and so-called directed and assumed lifestyle are entrenched right from the start (since young). The minimum few will dare to deviate from the so-called usual and preferred norms and opt for the less-travelled path. Those (who dare and willing to do so) will be considered as outcasts in this society. Kudos to you in making such move.

Ben

Unknown said...

Hi Ben, I started young with Australia at 20. And just kept rolling.
Actually most govt try to keep their people on the treadmill to keep the economy rolling.
Give me a shout should you want to take this path.
Terence

Ben said...

Hi Terence,

Thks for your offer. I will consult you if I decide to embark on such path.

Very much appreciated.

Ben



simon Goh said...

The idea of geo arbitrage has been on my mind for the past few years. That's the plan that my partner and I have, once we are free of our family commitments. Malaysia & Thailand are our considerations. We are not ruling out Cambodia and Vietnam. Good to hear that $1500 is sufficient for decent living for a couple. We will revisit this when we have the opportunity again.

Unknown said...

Hi Simon, seriously don't even bother with msia if your skin not brown. Not worth the hassle. Forex benefits but you will always feel like a target.
1500 is good for Chiang Mai, not BKK or Phuket. Buy a 10-15 year old car for 4k and you're set for 2. Chiang Rai 1200 doable, but serious boring,1 mall only.
Vietnam you can opt for danang if you want peace and quiet. Malls are adequate but language very big barrier. Direct flight to SG.
Cambodia is doable at 1200. But serious boring, lack of amenities. Opt for Sihanoukville where the Chinese have practically taken over, easy to blend in.
Terry

Unknown said...

This is how fast you can retire.
If no dependents.
If HDB loan cleared.
Within a year you can start your single or double retirement.
Get your 4 room and above HDB rented out. Rent out the 2 rooms only then you'll always have a space.
The 1 year buffer is for you to build your emergency cash savings and learn to manage your tenants.
Research research research the places you want.
Caveat is that it's going take much longer if y'all like Prada,LV and stuff. Learn to travel light.as in cabin luggage.

Think I'll start my chiang mai consultancy at 2k single pax,3k dual pax DIY handholding for 1 month.
Or 5k maximum handholding for 1 month.
Opinions anyone, feasible?
Terry

simon Goh said...
This comment has been removed by the author.
simon Goh said...

Hi Terry, thanks for your suggestions. Indeed Chiang Mai is on our radar. We will visiting in Dec for leisure and assess if it's as livable as what many people proclaim. Malaysia is part of our plan as my partner is a Malaysian and has a property there, so, that will add another destination for our visa runs.

Unknown said...

Simon, technically you have the best of both worlds running on two passports.
Think of Chiang Mai as a XL Malacca. It is a sedate place suited for retirees. 2 Tesco, 2 Big C, 4 malls. Sedate also means costs are manageable and slow to rise.
Yours will be an interesting retirement also.

Bapu said...

your story would be interesting to read Terry.
Do you have a blog or somesuch?

Unknown said...

Unfortunately not.
Still feeling my way around.
Just started on the road to getting a property here though

MT said...

>I won't write an essay saying that with grit and willpower, private degree holders can also make it in Singapore. That's still up to the individual. With grit and willpower, Bruce Jenner can become Caitlyn Jenner.


"grit and willpower". Then again, if they have grit and willpower, would they be private university graduates in the first place? Perhaps that some are late bloomers and for them to succeed, they will have to deal with the perception of private school graduates being poor employees, doubling the difficulties they have to face.

Ben said...

Hi Terry,

I am of view that Chiang Mai will be an ideal destination for me. I prefer a quiet and secluded lifestyle. Low profile is my preferred mode as I prefer to go about doing the things which I like, in an icognite way.

Ben

Unknown said...

Same same, that's why I'm checking this place out. After this just need to find another city with same similarities and pretty much set for retirement destinations.
Leave Singapore but Singapore still in me. Nego for a 1 roomer from 16k. Found same unit in building for 12k and I still nego hahaha.
Really displaying our bird habit of cheap, cheap, cheap. 3 bikes already and after buying condo is get car. All second of course

Unknown said...

I agree very much Thailand is an incognito place for us, cause we really really blend in. Now that I can speak a little Thai, locals can't differentiate us until we open our mouths.
Ditto with the Singaporeans I've met here. All prefer low key, low profile. You know there are other Singaporean nearby but all really hard to distinguish. At last count, just below 3000 residing in Thailand.

Ben said...

Hi Terry,

The cost of living in Singapore is increasing as the day goes. I can feel such pressure. My take is that it is better to keep such "cheap cheap" feeling within oneself. Hence, the low profile approach comes into the picture.

I exited the corporate world about few months back. The feeling of not working for others is awesome. The thought of making the geo-arbitrage a reality is exciting and it is worthwhile to broaden the horizon by moving overseas when the circumstance is in our favour. Such experience is indeed priceless.

Ben

Unknown said...

I was back in sg last month. And paid the water bill. Almost freak out when I saw the 20% had become 50% conservation tax.

The condo agent couldn't understand my reaction when he said the monthly fee was inclusive of water, free. I was like... Free water.
I'm paying a one roomer per month never more than 200agd. And it's bigger than our Mickey mouse.
There's so little upside in sg nowadays

Ben said...

The transport fare is to increase next month. There are so many increases of which some may not realise. It is like the pressure cooker cooking the frog. The frog is unaware of the danger as the temperature increases slowly. By tye time it realises the imminent danger, it's way too late.

Ben

Unknown said...

All these increases started more than a year back.if you look closer,you can see it is preplanned.
Do you remember the Brad Pitt movie World War Z? Obviously a few people took the lessons to heart. It is very obvious the 10 man is in play.
His unthinkable scenario is that they have lost power.But how to make sure next govt can not survive?
If the people no money,the govt cannot look good.
So take the money away now. Hence we are at a new stage of death by thousand cuts. But the cuts are deep this time.

Ben said...

I agree with you. There are people who believe that all will be well and remain prosperous. I guess it's the matter of individual's perspective. I guess that it is up to the individual's line of thought. It's all crystal ball and remain to be developed.

I know the decision which I opine to be appropriate and relevant to me. I simply execute it and see how it goes. One thing for sure, there will not be disappointment on my decision. I am responsible for the implemented decision.

Let see how it goes.

Ben

Unknown said...

Take the path less traveled. It does seem daunting at first, but as you go along, it gets easier as you gain experience.
As compared to being a frog in a nice warm sauna.
But i digress. We all know that because we've been there before and had the foresight to step up and step out.

Ben said...

It's always nice to step into the unexplored terrain with the knowledge of the buffer behind us.

Even if there is no buffer, it's alright with no liability. However, it's demoralising to mention that most will have liability which is hindering the journey to the unknown. As per said, it's due to so called propangada which most are cultured to "work till up the lorry". It's sad for such a life which is a norm in most places.

Pple do not want to know that they have options. They follow so called "the travelled route to success". I am not sure whether all like such route.

Ben

Unknown said...

Think easier, You want can whatsapp me on 81327ooo

Ben said...

Hi,

Thks for the offer. Let see whether our paths cross. I always believe that each individual's path and line of thought are unique. Focus on the things one desire and head towards the direction. Be it whether there is success or failure. There will be no regret in heading towards the desired path. Hope everything go smoothly in your destiny. To each of our own.

Ben

Christopher Ng Wai Chung said...

Boy, I wish every thread is as viral as this one.

Unknown said...

A dream many will have. But few will succeed. Not for lack of trying. But lack of planning.

Ben said...

Hi Chris,

This goes to show that such topic is of high concern to most of the readers who visit your blog. This is solely my view and I am not sure whether this is the true reflection on my views. You may want to consider writing your future posts on such related bread and butter issue which are of concern to the readers. I believe that there is bound to be contributions on such issues and there will be interesting interaction and exchange of views amongst the readers.

My two cents worth of views.

Ben

Unknown said...

Hell week
Buying a car and a condo the same week in Thailand should never be attempted, seek professional help hahaha.

Car payment settled today. Tomorrow go their LTA do paperwork.
Tomorrow also have to show up at condo juristic office to register transfer.

So fun. More to come.

Ben said...

Hi

Glad to know that you are settling well in Thailand. I agree with you that it will be more appropriate to focus on one thing at a time. It seems that you are well set for a retirement lifestyle in Thailand.

All the best in your new lifestyle.

Have a great time.

Ben

GrevolutionX said...

Nobody thought of china as a retirement place? Why SEA only?

Unknown said...

Why I avoided China. 2 reasons.
1 Unless you stay there for decade prior, they are more cutthroat than you and will not hesitate take you out.
2. Our facial features blend better IN SEA, you don't want to stand out in a crowd.

For anyone still following, well the retirement condo is settled, shifted in a week already.
Pretty much done with prep work for Thailand as a retirement destination.
Now to hunt the second and final destination, opinions anyone?
Danang, Vietnam is a possible.

Ben said...

Hi Terry,

Danang may be a good option. It's near to Thailand and easy to move around.

I believe that it will take quite a significant amount of time in finding the suitable unit.

Ben

Unknown said...

Hi Ben, it was my first alt after Thailand. Unfortunately, only developers can sell to foreigners, and minimum pricing is 100k usd, not really worth.
I'm off to Sarawak next to look for my second unit.
Found some of our locals doing this, 3 months here,3 months there. Avoids the residency complications. Skips having to buy visas and pay coffee money.
For now, back to sg slog a bit.
T

Ben said...

Hi Terry,

I understand that it will be quite hard and difficult in finding the second unit. The residency complications are also one of the considerations. I believe that you will be able to achieve the target,

I am not sure that you intend to do some full or part-time employment in Sg. If it is true, I hope that it will not be a long one. It's always to have some form of income to supplement the expenses.

Ben

Unknown said...

I had the same thinking when it came to Thailand. Until I found my unit at 20k. The key thing is you have to be on the ground. You won't find the good stuff on the net.
I believe I can find what I want in Sarawak eventually.
Basically I'm looking at gig jobs, driving grab and GOJEK now. I'm comfortable with a gross 1500 a week. Especially when I need 800 monthly for Thailand.

Ben said...

Hi Terry,

This goes to show that one needs to look further and concisely before finding the desired unit. This requires much and determined effort. The reward will come for one who keeps trying and never gives up. You are one such example.

As for the gig job (driving grab and GOJEK), it might not be easy to earn a gross 1500 a week. However, it is possible if one put in extra time to earn such amount.1500 might be a lot for one's expense. On comparison, Thailand will be a better preposition with 800 a monthly.

Novethless, I believe that you would have acquired some of the passive income (either from the existing property or investment portfolio) to cover your expenses.

Ben

Unknown said...

Hi Ben, it's always better to have more and different sources of income be it passive, portfolio or earned.
What is here today may not be there tomorrow.
We plan for the best but prepare for the worst.
Regarding 1500 gross, it is achievable and i don't have an issue hitting it on 10 hour days 5 day week.

Ben said...

Hi Terry,

Well said.

It's always prudent to prepare for the worst. This will lessen the shock if such circumstances really occur. The generated dividend of today may not be there tomorrow due to the dynamics of the market. It is always good to spread all the eggs in many baskets. At least, there will be some form of income in the event of one basket fails to deliver. As for the earned income, there is only this much one can earn from the active income. Be an self-employed may be one of such avenue given that one (in his or her 40s and above) are more prone to retrenchment.

It's always good to have options and one can mitigate the options in accordance to the prevailing circumstance.

Ben

Unknown said...

Hi Ben, sounds to me like you've gone thru a lot of thinking and are on your intended path now.
Perchance could you elaborate some of your future thoughts. As in would you be staying in SF or are planning your way out of the slow boiling pot?

Ben said...

Hi Terry,

I do not have the plan of relocation yet.

I just quitted the rat race a few month back (with effect from 2 May 2019 to be exact). I am still enjoying the benefits of FIRE. I do not rule out the possibility of relocating out of SG with the exception of keeping the SG citizenship.

One of the main factor of the relocation is to stretch the dollar in form of geo-arbitrage. I have some ideas on how to go about such plan. It's unlikely that I will buy a unit in the overseas country. I will go for the rent. I will move around various countries to experience the life culture which I believe that such decision will broaden my horizon.

Thailand, China, Taiwan, Australia, Vietnam, Camobodia are some of the venues which I have in mind. You may have wondered why I have included Australia which appears to be out of norms. The main reason is the currency exchange between Australia and SG. Having said that, the geo-arbritrage is still in the pipeline. I am still enjoying the benefits of doing nothing at this very juncture and do not see the need to change my lifestyle at this prevailing moment.

Once I am done and tired of my current lifestyle, I will proceed to embark on the next stage of my endeavor. Meanwhile, I am doing some research on geo-abritrage given the amount of time I have at my disposal which is free from my exit from the corporate rat race.

As for the expense, I am glad to note that the generated dividend from my investment portfolio is able to cover my current expense. I am flexible in my expenses and could have stretch the time with further reduction of expenses if the need arises.

The above is my plan which is subject to change.

Ben

Christopher Ng Wai Chung said...

Ben,

Congratulations on attaining FIRE !

Hope that you inspire future generations to do the same.

I just came back from Australia and I love the egalitarianism and their respect for blue collar work. It's a great place to run away from Singapore but we should not see it as a place to get welfare.

Regards