This blog will try to consolidate my ideas, ideals and calculations/estimations on how I intend to retire early in my home country of Singapore. Many people have mentioned that Singapore's cost of living is extremely expensive and that retirement is out of reach. This coupled with no state funded social security net and expensive housing prices leaves Singaporeans with feelings of helplessness and the mentality that retirement can only be achieved at 60 years old or later.
Here, I will attempt to put forth my own methods and lifestyle which I believe will earn me an early retirement age of between 33 - 35. Born in 1982, currently (2013) I am already 31, leaving me only 2-4 years to achieve this goal. I have decided to remain anonymous until I finally am able to actually retire, reason being that this idea might not gel well with the company which I am working for currently and also to avoid real life flaming from people who say that such ideas are impossible and that an individual is lazy for choosing early retirement instead of contributing to society in the form of labour.
One of the more important things which I realised about retirement is that different people define retirement differently. Some people believe retirement is achieved only when an individual stays at home doing absolutely nothing, watching tv, golfing, taking care of grandchildren, with no income stream, that this is retirement.
My own definition of retirement is very much similar to many other early retiree bloggers out there. Which is to reach a state of life when I do not need to be concerned about my expenses and that I can choose to stay at home and watch tv, idle around, go gym, etc. However, this does not mean that I have to do exactly that. My definition allows me to pursue other interests in life, which include other money making ideas, such as being a gym instructor, setting up a small push cart stall and other income producing activities. The idea is that I do not need these activities to sustain my livelihood but I can choose to do such things just purely for the fun of it.
(This is my blog and I can define retirement anyway I like. So comments of "He's not really retired cos he's still working as a gym instructor" will not be appreciated as that just goes to show how narrow minded you are about the idea of retirement, and yes, I am considering being a gym instructor after my planned early retirement.)
All comments are appreciated, unless the comments challenge the idea of early retirement without evidence of the impossibility. If you want to say that something is not achievable, pls provide reasons on why it is invalid.
Thank you, and I hope this blog will provide more insights to the lifestyle in Singapore and provide more opportunities for people to retire younger and appreciate life a bit more.