This is the EXACT Reason Why You Will WORK Until You Die

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If you are new to this channel, we are Fran and John, the Corporate Breakout Couple. Fran is Malaysian and John is Singaporean. We broke out of the corporate rat race in Singapore and got ourselves financially independent in 2020. We love making KZbin videos on topics like financial independence, breaking out of the rat race, early retirement and lots more!
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Timestamps:
00:00 RM750,000 Wiped Out in 7 Years??
00:31 T20 Income Earner
03:11 Going Into Financial Meltdowns
05:06 The Urgent Need For Financial Education
08:43 In Conclusion
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Our videos and courses are for educational purposes and are based on our own personal opinions, life experiences and learnings. Any finance-related or investment advice are merely for educational purposes only. For any financial decision, please conduct your own research, do your own due diligence and seek the advice of a licensed financial advisor or real estate consultant accordingly.
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[@corporatebreakoutcouple]

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[@user-if9hc4be9q]

We have to teach ourselves and our children to spend wisely. I have seen a lot who earns $5K a month but spends more than that. 30% personality, 30% skills and 40% self-control.

[@corporatebreakoutcouple]

@@user-if9hc4be9q yup!

[@Adnanhasb1]

That is so so worrying Thanks for the share

[@corporatebreakoutcouple]

Thank you for watching!

[@gmm5550]

well i live good life working in Bangkok and spends about 25% of my western salary for living and rent and all in life pay about 300 usd for a pretty big 1 bedroom condo with roof pool and gym..a month and often pay around 1-2 $ for a good lunch or dinner(often cheaper to eat out than cook home here) ...52yr no bank loans and no debt at all... =)

[@corporatebreakoutcouple]

Nice!! That's the life!

[@tonychavez3679]

It's only $85000. USD, it's not much money. I think the retirement plan needs to be revamped.

[@corporatebreakoutcouple]

@@tonychavez3679 yup definitely. In any case, it's all gone now

[@austinbar]

I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.

[@jcurdrayeric243]

Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.

[@joshbarney114]

This is true. I'm in my mid 40's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.

[@rogerwheelers4322]

It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than half a million dollars by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

[@FabioOdelega876]

I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?

[@rogerwheelers4322]

Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@mygoodlife204]

That is why from 1 September 2024 a new law is coming into effect in South Africa. 2/3 of your retirement savings must buy a monthly pension. Nobody will have access to it under no circumstances

[@corporatebreakoutcouple]

Oh wow! Thanks for the information! Good to know! When will one be able to receive the pension? At which age?

[@lowengkok1201]

That i think is also very good ideal for the country.Other country i dont can work ot out or not.

[@Additional44]

How do most of you guys still make profit? Even with the downturn of the economy and ever increasing life standards

[@ann-ie4hc]

Well, I picked the challenge to put my finances in order. Then I invested in cryptocurrency and stocks, through the assistance of my discretionary fund manager

[@ann-ie4hc]

Hattie Glover

[@Additional44]

Please educate me. I've come across this name before. Now I am interested. How can I reach her?

[@BENWILLIAMS12316]

This is correct, Hattie's strategy has normalized winning trades for me also and it's a huge milestone for me looking back to how it all started..

[@RONALDO_7729]

Crypto is the best future where people makes money and generate good returns.

[@littledrummerboy9080]

I think not spending beyond your means is commonsense. Nothing to do with lack of financial education.

[@corporatebreakoutcouple]

In this case, 1 in 4 Malaysians lack common sense because that's the statistics of them depleting their EPF savings within 5 years.

[@littledrummerboy9080]

@corporatebreakoutcouple I won't go to the extent to say this. Not sure whether the same study explain why 1 in 4 spent all their EPF within 5 years.

[@Michaelwklee]

Most do not know their means so exceeded

[@steffilee8415]

RM 750000, actually quite little. In Singapore, CPF, cannot withdraw all the amount of money when u reach 55. Must meet the minimum retirement sum at least $99400, excluding medisave. Minimum Retirement sum changes every year. If u have less than that, u get nothing at 55 yrs old or only $5k..can withdraw.. The rest locked up till 65, but not all the amt u can withdraw at one time. Give u bit by bit.. So the elderly will not encounter like paying for children's renovations fees or wedding fees.. CPF, to be honest, better in term of retirement. Beside RM 700000 is SG 215,645. Only Basic Retirement sum... Not much. U can study Singapore CPF retirement system.. Is complicated but it has a good way to prevent overspending..

[@corporatebreakoutcouple]

Yes. Definitely not enough to last 30 years

[@BencerCourt123]

CPF policy is meant that you will die before you can withdraw the hard earned money. It was done on purpose. All singaporean are supposed to work till they are on deathbed except for PAP political elite.

[@hummit]

I think the reason why people have tendency to splurge and spend all their retirement savings is that they feel they should reward themselves after working so hard for 35 to 40 years. They pat and pat themselves on their backs until blue black 😂 黑青积血

[@corporatebreakoutcouple]

Hahaah! We like how you described it! Blue black!!

[@CBearLandkirk6076]

I like her accent ✅️

[@corporatebreakoutcouple]

👍

[@andes1784]

What is 200k ringgit annual salary bringing to individual? Is it considered middle income? Can you live with this money in KL? Can someone advise. Thx

[@corporatebreakoutcouple]

RM200k annual salary would be considered middle to high income earner in Malaysia. Definitely able to live and get by on this amount, depending on your lifestyle. Can one afford to take 4-5 overseas trips to US/Europe/ANZ on this salary? Most likely not due to the weak currency strength of the RM but one can live comfortably in Malaysia.

[@user-pc4wb6md6p]

​@@corporatebreakoutcoupleTotally agree with u guys, i suppose juz a trip for 2 to USA probably will easily burned ard Rm70k , so leaving 130k OR ard 10k for mthly expenses, which is pretty tight if u have lots commitments/ ppl u need to feed, but if u holiday juz ard the neighboring countries like Thailand, Indonesia, Vietnam then shud be ok, juz my 2 cts worth opinion, 😆😆

[@corporatebreakoutcouple]

@@user-pc4wb6md6p yup, that's our train of thought as well.

[@babibrain]

RM200k income for individual consider the T20. For this salary in Malaysia, he basically can have luxury lifestyle living in house and drive BMW.

[@corporatebreakoutcouple]

@@babibrain the BMW loan repayment will take up 1/3 of the monthly salary. Taking into account petrol, road tax, insurance, toll parking and maintenance, this person should not be driving a BMW on a 200k annual salary in Malaysia. Unless they want to have zero savings and live paycheck to paycheck.

[@davidhamtaro]

In his mind $750k is like $7.5M. He forgot money devalues like avalanche. Check out Zimbabwe’s 100 Trillion dollar bank note 😅

[@corporatebreakoutcouple]

Haha! It's extremely scary to see money flowing out like a waterfall when in the hands of someone who has poor money mgt.

[@jamesmadison3108]

@@corporatebreakoutcouple 750k ringgit is so little. Its only 214285 sgd.. not enough to retire.

[@corporatebreakoutcouple]

@@jamesmadison3108 it's true. Even if he did not spend it all, it's not enough to last him 30-40 years

[@babibrain]

His daughters should have rejected the bridal gifts. Now, their father lives like a poor man, begging from his daughters.

[@corporatebreakoutcouple]

He is now living off his wife's pension. Kesian the wife too

[@lkl7045]

Where's his yearly EPF dividends?

[@corporatebreakoutcouple]

He spent all his EPF so no more money to generate the interest payout.

[@lkl7045]

@@corporatebreakoutcouple Haiyaa

[@corporatebreakoutcouple]

@@lkl7045 scary huh

[@lkl7045]

@@corporatebreakoutcouple Hopefully the children take care of him/her

[@LonganLee]

Easy come, easy go😅. I don't mean I paid for a COE😅

[@corporatebreakoutcouple]

The 750k is the result of his 30 or more years of hard work. It's so sad that it's all gone like that

[@slej2502]

For this case it wasn't easy come but easy go. Retirement isn't about living the rest of our lives in luxury, it's about stretching that remaining dollar.

[@teeong1645]

Surely he must have a pension!!??

[@corporatebreakoutcouple]

Nope. He now lives off his wife's pension. He was a mid level manager and he only has EPF.

[@khooahok4589]

Spending like rich people while saving less than a million 😂😢😅

[@corporatebreakoutcouple]

So scary, right? This example truly differentiates the financial literate against the financial illiterate

[@puieyechew1198]

If you read the news, he actually spend the money to renovate his house and for his children's wedding.

[@corporatebreakoutcouple]

If you watched the video, that's exactly what we referred to. However he only spent RM270k We covered what happened to the rest of the money in the video as well

[@jamesmadison3108]

Because it is 750000 ringgit and not dollars. Ringgit is pathetically weak.

[@corporatebreakoutcouple]

It is indeed. Definitely not enough to last 30-40 years after retirement. But it's all a moot point as it's all gone now for him.

[@mstygger3035]

Actually, the main theme of this channel is to give you real life examples and sell you their course. Nothing wrong with that, but there are other channels that give you more insight than this, to be honest. 😊 remember, our most precious resource is our time, spend it wisely.

[@corporatebreakoutcouple]

😂😂😂

[@lmbarnes3]

No one believes you can retire on $160,000 US dollars total.

[@corporatebreakoutcouple]

👍

[@SasiponPanavaravatn]

Your explanation is clear and practical. Nevertheless, the market can undergo manipulation in various ways. While I initially grasped trading crypto assets, my technical analysis skills were a limiting factor. This changed when I came across Leah Foster Alderman's strategy. Day trading deserves increased attention, given its resilience to the market's unpredictable nature.

[@AdamWright8fool]

Investors can have different investing results even with the best strategy and suitable assets. Understanding how experience plays a critical part in successful investing is key. Since I was aware of this, I consulted a market analyst for advice, which helped me build my account to about a million dollars. Having strategically cashed out just prior to the market correction, I'm now taking advantage of buying opportunities once more.

[@ocswoodlands]

thats what happens when you stay in a PAS state 😂

[@corporatebreakoutcouple]

What does being in certain state got to do with low financial literacy?

[@cac1504]

Both of you are still making active income as self-employed. So very misleading to call yourself retired.

[@corporatebreakoutcouple]

We challenge you to find early retirees who don't have some form of active income either via blogs, social media or what nots. Retired doesn't mean sit at home & do nothing all day. That's being useless to society & very selfish to not share what knowledge to the world. We do not rely on KZbin Ad Sense income to survive. It barely covers our meals 😂 We get by on our passive income which is more than enough for our travels as well. Can you say the same?

[@cac1504]

Who is challenging you? Sound so defensive. ​Good that you clarify. Not questioning you. Just hope you could make it clear because the term retirement usually means no job wi​th active income. @@corporatebreakoutcouple

[@corporatebreakoutcouple]

@@cac1504 retirement doesn't mean that one cannot earn income. Retirement actually means retire from working for money to survive, correct? However if money is no longer a concern, and one wants to work (in any sort of way or form) and happens to be paid for their efforts & contribution, why can't they? And still be retired? Why is the word retired fixed with the concept of cannot earn money? That's what we want to bust in our videos. The fixed mindset that retirement (early or otherwise) means that cannot earn money.

[@user-pc4wb6md6p]

​@@corporatebreakoutcouplePersonally, after retired, i plan to look for a partime job that is has to do with my interest, not for the money but to keep my brain n muscle active n alive, and then the so call "income" can be use to support some social causes that im passionate about, i plan to make tis time of my life the greatest part till i meet my Maker!😊

[@corporatebreakoutcouple]

@@user-pc4wb6md6p yes, precisely! In fact, we encourage it because once retired, you have all the time in the world to pursue whatever you want and our lives must always be in growth mode. Otherwise we will stagnate and die early

[@diverliew]

Maybe he's got 5 wives?

[@corporatebreakoutcouple]

😂😂😂

[@hummit]

Ya hor…..

[@user-so7hh2fc7j]

Why is your skin green? Lol

[@corporatebreakoutcouple]

😜