2024 Xmas

2024 is coming to an end. It's been an eventful year for myself. While I had experienced multiple rounds of layoffs in my 20+ year of working for MNCs, 2024 is special, because I didn't dodge the bullet this time, basically I kena chopped lah!

Then, I was offered another role in the company. which I took and thus I gave up my severance money. I figured its better to try something different and stay employed, and I estimated I will even out as long as I last until the next RSU vest date, which is less than 6 months away from the layoff date. So no harm trying it out and if it doesn't pan out, I can take the RSU and run road.

Unfortunately, I really have to run road after 6-7 months, due to the difficulties I faced in the new role, compounded by distractions in my family life at the same time. And plus my energy levels weren't as high as before, likely due to me not taking good care of myself. So here I am, doing nothing for past few months since I left the company. Well, not nothing, since I focused on my wealth and health during this time. I am still ways from my target levels, but I am in the right direction. Running, weights, biking, hiking...all helped to make me feel fresher, happier and stronger. And if the equity markets continue to do well in 2025, I could really have a shot at retirement, but I am not resting on my laurels. I plan to start my coding training and AI lobbying in Jan 2025, always good to keep mind alert and exercised, regardless of if this is a long break or a real retirement. 

I think family issues are on the mend, and I hope this turmoil in 2024 do not carry into 2025. 

Xmas was fun, spending quality time with fam and friends, making memories. 

I'll probably write something to conclude 2024 when it's 31 Dec 2024. 

But above are what's on my mind now and I just want to write it down. 

Merry Xmas to everyone and wish you all good health. 

TSLA hits new high

 Huat ah! already hit above $400. Damn shiok to see my holdings doubled. 

It's not a lot, but still shiok lah. Maybe it will hit $800??? Never say never! Thanks Mr Musk :)

Sandwiched generation

Was reading this https://www.asiaone.com/money/sandwich-generation-singapore-finances-caring-aged-parents-and-children 

Coincidentally, this is also a topic close to my heart, as I am really part of this sandwiched generation. Uncle isn't blaming anyone, since Uncle's parents aren't well to do, and they literally gave all they have to their children, to support them and give them a head start in life, while sacrificing their own retirement resources. If they had focused on their own retirement, Uncle and my siblings would had to stop school pre-maturely to start working to fend for ourselves, likely resulting in bad outcomes for ourselves. So I thank my good parents and would always be happy to support them in their golden years. Uncle also made a choice to have children as they give me purpose in life. 

So what does Uncle want to do?

My view is, as long as it's within my ability, I will strive to be the last generation of being sandwiched. This means, I will aim to be financially independent in my retirement years, with resources to take care of myself, to engage helper to take care of me, without needing any of my children to support me or my wife.  This means, my adult children are no longer sandwiched. They are free to use their own resources for themselves and their offsprings, which means they themselves should be able to do their own retirement planning and thus free their offsprings from the burden of needing to support them. This is my mission now. 

My mission to break this vicious cycle of sandwiching between parents and children and retirement. This will be, in my opinion, the best gift I can give to my children. Not everyone can do this, due to high cost of living here in Singapore and the high level of competition for jobs, housing etc. So Uncle is grateful for the opportunity to take a shot at this mission. 

CPF balances 4 Dec 2024

 

OA is dwindling each month as my income has stopped and mortgage payments continue each month ($1400 per month). This is expected and the amount will last me another 1.5 years before I will run out and need to incur additional $1400 of cash outlay per month. Maybe I'll be working again before that happens, but even if not, I am not too worried atm

early retirement chat

 Uncle had a chat with an old friend (same age) recently. He is married without kids and lives in a HDB flat that has been fully paid for many years ago. His wife has stopped working due to health issues (non-life threatening), while he continues to be gainfully employed. 

During our chat, he mentioned about planning to retire in 2025, and I was sincerely very happy to hear that. Of course I was curious about how he did it. And I am glad to say, he seems to have things sorted out. Housing is paid for, and they both have decent amounts accumulated in their CPF accounts which should provide a good safety net as they reach 55 and beyond. He has also active investments and trading which he said provides sufficient coverage for his household living expenses. 

To be, he lives a comfortable and humble lifestyle. He doesn't own a car though he could comfortable afford one. He eat simple meals and enjoys short trips to nearby countries very often. All these expense are well within his budget. What is more admirable to me is his resolve in keep himself very fit and healthy, such that he actually looked 10 years younger than he is, I am really happy for him and I looked up to him as an inspiration for myself as I approach my retirement years. 

We both agreed that early retirement is a privilege that is only opened to a small percentage of people here. But we also agree it can be within reach for more people if people are willing to be realistic on what is considered "enough". There are tons of high earning people who continue to slog non-stop even when they could had stopped and retire and do whatever they want and live their lives. Why? What is it that they are chasing, we ask between us. I think the allure of material comfort is too high for many of us in this age and time. Such that we are so blinded and so discontented with the goodness we already have. Such that we don't know when to say "this is enough for me now! time to smell roses!". Its tragic to read news of people dying/falling very sick at their peak, or losing all their monies as they take on more risks to chase more. These folks are the envy of many working class people like ourselves, and we cannot understand why they don't feel contented to start living a good life with their resources, which some of us will never have in our lifetime. 

But who are we to judge? Maybe when we have our own millions, we will be like them too, chasing non-stop some imaginary good life that could come if we slog just a little more. I am determined not to fall into this thinking. And my good friend agreed.

I hope he and I will be successful in our pursue of happiness and early retirement and contentment. We are lucky ones.