TWS Podcast: Retire in Singapore before 40? Our thoughts on F.I.R.E

[@zYMz]

RM: I'm trying to stress.. WC: Don't stress My kind of humour 😂

[@eltonjonathan670]

too many people who prematurely died worrying about saving as much money as they could for retirement and never enjoying it. The whole point of retiring early at 62 is to enjoy your retirement.... that's it. So when people say, yeah, I'll be getting more money when I'm 78, 8O or something, I have to ask.... will you have enough energy or be in excellent shape to enjoy it? Maybe they will, but, you just never know. My advice is, enjoy your retirement earlier, be thankful that you can retire and use the money now while you're young enough and have energy to d0 this.

[@eltonjonathan670]

retired after finding out how profitable , stock , forexand crypto investment could be , all thanks to my portfolio manager Stephen H Briggs who made me see the other side of not doing 9-5.

[@eltonjonathan670]

Most failures and loss on Investment usually happens when you invest without proper guide and the analysis of the profit and risk percentage of the Investment, having a portfolio manager like Stephen H Briggs is more than a blessing , that man is a genius when it comes to making profitable investments, God blessed the day i came across Stephen

[@sandradunn5091]

@@eltonjonathan670 so true Elton because I've incurred huge losses while investing by myself, its really depressing because i thought i could just guess the outcome of the market and that has downed on me that i need more than just guessing. how do i get in touch with your portfolio manager Stephen Briggs?.I really need to get back to winning ways

[@eltonjonathan670]

@andrew newman *Steve briggs trade*

[@eltonjonathan670]

Instagram 🖕

[@frugallantry]

What a great, insightful conversation. I enjoy your IG. I have so many questions and would love a follow up. Some very powerful themes on why we work, what is retirement, what is the purpose of all of this.

[@Choonzord]

Hooray!

[@alexsim_]

Big fan! Please continue to produce great contents like these! Thank you very much!

[@thedougside]

Truly a different viewpoint on the whole FIRE culture and financial independence. FIMAI and Hustle sustainably it is. Keep up the great work guys!!!

[@andrewkwek6160]

Great job! Thanks for sharing this to our local peeps! I want to support you guys!

[@fahmidamiah]

Awwwww it's so lovely to see you both on video, rather than just via instagram! :) Great talk

[@thesiyimi]

Love your non existant ah huat trading. Me will support! Huat ah.

[@jayshen84]

A sabbatical is not supposed to be about relaxing.... an academic sabbatical is really about focusing on completely something. It is not lazying around, its a strategic action. And this is where FIRE is good. FIRE is not about aimlessness but really slowing down or focusing in order to reinvent yourself. The original FIRE practitioners aim to FIRE to raise a family, take care of a parent or even just slow down to go deep into something spiritual. Its about prioritizing personal growth above your short-term financial growth.

[@alui5362]

keep it up, guys. doing a very important job!

[@rosaliasulistya]

Congratulations for the first podcast! I am your huge fan 💕 PS: We're the same age!

[@thewokesalaryman]

Thank you :) Sorry to hear that you are also in your 30s :(

[@WISERandHAPPIER]

Different strokes for different folks. Automation should be replacing more jobs. To combat the future unemployment more people should step aside at a younger age. Being FI early is so good, I am really enjoying my life. Looking forward to RE and let the younger talent apply their skills.

[@twistedtales2042]

First podcast, first comment~!!

[@sixers1984]

I’m going to retire soon in Jan 2022 at 37. Wish me luck 😉

[@jironghuang4895]

Paper losses are same as actual losses from mark to market accounting perspective. Side way markets and lost decades are more prevalent than the trending markets that we are accustomed to over the past few years.

[@fififinance7469]

Enjoyed the post! 😀

[@xuweibin88]

15:28 What was it that crossed RM's mind but he skirted around?

[@natarae]

Doing well. Proud of yall.. haha theres juz smth so hawt abt you both.

[@thewokesalaryman]

We're hawt like FIRE movement hawt yes

[@gemli4370]

how about fimo financial independence more options :”)

[@kuepandan]

Yeah, FI is also about avoiding excessive lifestyle. Reduce your consumption, able to say this is enough.

[@insandistr]

what kind of Bike does Ruiming used during travel ?

[@xin7925]

Can do a video on cycling to work?

[@thewokesalaryman]

Eh good idea

[@ahCURSED]

You guys shld totally watch the anime “made in abyss” :)

[@rizetal]

F.I.L.L Financial Independence Live Life

[@WISERandHAPPIER]

You guys probably need some hobbies e.g. reading, football. Reading books consumes a lot of time. So many football games la. You need to push through the mental barrier and over time you will rarely want to go back to the 9 to 5 life. I was like you at 1 point in my life but now at 41 the feeling has disappeared. 1000s of years ago we did not go to sanitised office at a specific time 5 days a week and people were happy too.

[@chiaweinam]

HI guys! So what are your respective FIRE number?

[@hiroshilim4827]

Will that "Stay Woke" poster in the background be on sale? Please take my money

[@thewokesalaryman]

Hahah! It is! thewokesalaryman.com/merch

[@hiroshilim4827]

@@thewokesalaryman I see the two framed ones but not the one behind Rui Ming's head :(

[@Jinsh0]

-I think I both agree and disagree with Wei Choon's point of view.. -I'm very very agree that the problem with 9-5 is not about the 9-5 itself, it's about the slavery part of it (no option, you had to do it, etc.).. -But I don't quite agree with the view about the 'RE' on the FIRE.. It's true the 'FI' part is much more important, but I also don't see any issue with the 'RE' part.. It's good if we all can make an impact, but it's back to having an option argument above, it should be your own choice and nobody else if you want to make an impact (assuming you have achieved the FI part).. And I think been it's been mentioned by Ruiming as well, typically the most capable person will naturally make the impact anyway.. -All in all is a good podcast, thumbs up for that.. I'm thinking to listen a little but, but I end-up listening till the end.. 👍

[@Jinsh0]

Btw (not related to the point above) there is also an article by Mr. Money Mustache talking about what happened if everyone pursue this FIRE movement lifestyle.. In which he argue in the long run, it's still be a good thing, ex: the 9-5 (actually it's more like 9-6 in many cases) probably will be shortened to 9-3 or something.. I'm not sure how true is that, but it's interesting regardless..

[@Choonzord]

Good points! I'm just being pedantic hahaha. Thanks for sharing!

[@jermswong]

@@Choonzord I feel that what you mentioned about the choice and freedom from wage slavery is what the RE is about also!

[@NinJa-qr1sp]

FIFA Financial Independence Freedom Achieved for me.

[@linkolois]

Now is a good time to FIRE 😊

[@vanessaliew881]

Now you’ve created a demand for Ah Huat Trading

[@Kaizer177]

2 matey chat. I like it 👍

[@yongheng]

sembawang best town

[@scbchong6964]

Young singaporeans always forget that they freeload for years under their parents' roof, eating free meals. Because 90% own their home whether HDB or private. What a great head start in life: no rent, free food, no utilities, housekeeping or groceries bills. If only singaporeans will complain-n-blame less.

[@pinemarble8479]

Sounds like a remark a mollycoddled Singaporean would say. Those born into lower-income families work industriously to contribute to the household during their teen years. You should speak for yourself and be infinitely grateful for how easy your life has been, coz not all of us enjoyed the privilege you did. Those complaining usually had a hard time and therefore take issue with the system, but you can't really blame em as they didn't get an easy environment growing up and had to make much more sacrifices than you had to. Fate shuffles the cards, we play. You were blessed with an easy life growing up, others weren't.

[@scbchong6964]

@@pinemarble8479 Singaporean GenZ teens do not work to contribute, that is the issue. Even GenX cohort hardly had to work because the Pioneer Generation parents had rising wages and owned their HDB flats so no rent pressures. How much do you contribute to your household expenses? re: ...Fate shuffles the cards, we play.... Agree, but why play so badly? Most complainers are not handicapped in anyway yet they grow into Champion Grumbler adults. Why continue to have cynical, negative attitude? Nature/God distributes talents unfairly. You born poor it is not your fault, but if you die poor, it is totally your fault. Growing up in "bad environment" and blaming "the system" gives you the right to slack off the rest of your adult life? USA-style liberal-rights-democracy propaganda preaches too much about Rights instead of Responsibilities. If you demand Rights too much, you feel you are owed something. You feel entitled and forget that there are consequences to your actions or inaction. You think the world owes you a living regardless of your abilities, work skills, talents, attitude and mindset. Too much influence from USA politics ideology leads to blame-game and dependency culture / entitlement mindset.

[@pinemarble8479]

@@scbchong6964 The amount gen Z contribute to their household expenses, you mean you know? Of course you don't and are assuming that just because they live with their parents, none goes to work at an early age to contribute financially in a signifcant way. Clearly, you aren't a social worker and do not seem to be cognisant of the existence of families who do make their kid work to pay "rent", utilities and cost involved with supporting a sibling or to fund a parent's addiction. Offsprings of some broken families who are denied financial help also shoulder a significant moiety of the cost of the household expenditure, there were such cases when I was in social work. Mind you, these are families who owned their flats, not talking about those from rental flats who may be even worse off. Your statement on how Singaporean youths have a good headstart in life is laugable. It is the decendants of the affluent who have a strong headstart in life, not your lower-income local teen just because their parents own a flat. This applies gloabally. What's the issue with these locals adopting cynical, negative attitudes? I think it's their prerogative to form and believe their own convictions and perspectives. And when they complain, they are being expressive and congruent with themselves. There's a problem with that? You mean they are not entitled to their opinions? "If you die poor, it's totally your fault." The epitome of the self-righteous mindset. You attribute way too much self-achievement to your success and "conveniently" disregarded the role of luck. Egocentric bias is evident right there. Dumb luck plays a greater role than you would admit to give it credit for. If you had a scintinlla of nous, you would know that even in a hypothetical scenario, if every Singaporean were equally talented and industrious, not everyone would be paid the same remuneration or have equal opportunity. It's simply because in terms of career oppourtunities, it's a zero sum game. Smarts, effective work or hard work won't get you anywhere if you are in an environment where you can't flourish. (e.g. being born into a family sans a responsible father, with 5 other siblings where you have to work two jobs to contribute to the hosuehold expenses and loans thus being forced to give up your studies to go to work straight after O'lvls). It really is equally contingent on the environment one has which decides if one can succeed. And being born into a wealthy family or an indigent one is subject to chance. And nobody said anything about it being okay to slack off one's adult life, so I don't know where you got that from. May I also ask, since when was there a system in Sg that allowed anyone to slack off in one's adult life anyway? We're not a welfare state, so what drivel you on about in regards to this point actually? Circling back to that selfsame paragraph, blaming the system/govt is one's opinion, and I respect that of the individual. So yeah, complaining and blaming the govt is absolutely fine and healthy if a person wants to. Totally the individual's perspective. Even your law minister said to challenge his competence and policies by all means, so seeing locals complaining and giving alternative solutions is the ppl simply doing what he said. The complaints in many comments of videos, a good number are not whining about the burden of responsibility, but at how policies passed or changed impact their lives negatively. And for these complaints, it has nothing to do with the notion of feeling that the world owes one a living. It's about the abuse of power at the top just because those there can, and little to no consideration was given of how such policies will be to the detriment of the lower echelons of society. In many cases, a lot of these complainers just want fairness from a system that isn't, so verbalising their dissatisfaction is what they choose to do which appears to be something you cannot stomach. What I don't get is your inability to accept dissenting voices speaking up for their class, as if the world should revolve around your "wisdom", if any at all. It is most judicious to always bear in mind that opposing views will always exist. A skill it is to agree to disagree. I would recommend it to all to overcome a feeble and narrow mind.

[@scbchong6964]

@@pinemarble8479 re: ...there were such cases when I was in social work... Do you have the guts and talent to start a school or a business to hire such singaporeans? Did you start an NGO and charity to help, or you all- talk-no-action, middle-aged mid-life crisis champion grumbler? re: ...It is the decendants of the affluent who have a strong headstart in life... Don't talk nonsense lah. Most singaporeans started poor. Pioneer generation mostly unemployed and uneducated. All given opportunity for education and jobs by PAP govt policies and laws. But it is the complacent and pampered GenX and some baby boomers who bitch the most. If you got 2 hands, 2 legs and not blind, mute, deaf, then it really is your fault for not striving and discovering your talents. re: ...What's the issue with these locals adopting cynical, negative attitudes?... If you are a mature, progressive and rational working adult, cynical negative attitude won't get you very far in work and life. Freedom of speech also means having the responsibility and obligation not to hurt or harm others with your opinions and attitude. re: ...Dumb luck plays a greater role than you would admit to give it credit for... hahaha so says your sour, envious face. In Singapore, all are given equal opportunity in education and jobs. Left up to each to prepare, and spot the opportunity. Anti-establishment haters and champion grumblers keep blaming the system and hating the govt for what is really their own fault. Rewards and wages cannot be equal because Nature/God distributes talents unequally. And even worse, you are blinded by your anger against "the system", your dependency and blame-game. re: ...complaining and blaming the govt is absolutely fine and healthy if a person wants to... You obviously not a business owner. You also got no experience hiring or training singaporeans. The one common trait among mediocre workers is that they bitch, complain, find fault, make excuses and blame others far too much. If you earning a low wage, it means your skills not highest quality. Best to complain less and work hard to become better, instead of pointing finger and making excuses and finding fault with govt. re: ...It's about the abuse of power at the top just because those there can,.... No, you scrutinise those who are complaining: all are middle-class, educated, white collar, midlife crisis, middle-aged singaporeans. The policies address the weakest, oldest, handicapped and most vulnerable first. And laws are harsh against the anti-social and arseholes. Nothing wrong with that. There is no abuse of power, but there is abuse of freedom of speech by these middle-class, middle-aged malcontents who are greedy, arrogant, self-important and selfish. re: ...What I don't get is your inability to accept dissenting voices speaking up for their class... You are dissenting for the sake of opposing. You think it is cool to do so. But you got no better policies to replace with. You go scrutinise those champion grumbler singaporeans: always blame the govt and criticise policies but actually mis-informed, prone to hate and rumours, and constantly barking up false narratives and lies from the Opposition political parties.

[@pinemarble8479]

@@scbchong6964 What BS you rambling on about? Out of the blue, the onus is on me to be responsible for the welfare of the less fortunate? Huh? Am I a minister? Is it that the people of Singapore are paying for my 7 figures annual salary? Was your brain consulted before asking if I'm paying lip service? -- And if you feel I'm a champion grumbler yada yada, I challenge you to find a comment where I complained about the government. Lol. Are you going to deny that in the past, chances for success were abundant and it's less competitive than now? Do you know, your bowl of noodles then was 5 cents, that same dish now cost north of $3.50. So yeah. Times have changed fyi. Keep abreast with modern developments and don't lag behind I implore you. And they can bit*h all they want, nothing wrong with being expressive. No one ain't losing sleep, well, except maybe you uh since the only one offended is you as you're struggling to hear viewpoints outside of your own. 😎 Errrr... whut? One can be rational, progressive and mature while remaining cynical in case you didn't know. Throughout history, there were philosophy intellects whose intelligence far exceeded your limited mind and they were progressive yet sapient. Arthur Schopenhauer was one, in case you need names. Also, do you comprehend what freedom of speech is? Might be tremendously helpful to enrol into primary school to learn what it is. Freedom of speech means saying whatever the *uck I want so as long as I don't make false accussations ya, or I risk being sued. You telling me that there's a responsibility/obligation to refrain from hurting others with my words is a silly jest and plain ludicrous. You mean now, I have to worry about wounding your emotions because you're a delicate snowflake who crumbles when met with criticisms or corrections when people call you out on your blind spots? If I were you, I'll quit being a wuss and learn to be indfferent. I'm responsible for what I say, not for how you feel about my words. I can't help it if you're that soft, I can only laugh. People on the KZbin comments aren't your pals. Don't expect courtesy if you can't first learn to respect the differing views of those who complain. Funny, didn't see you bit*ching about your own lack of consideration for those whiners when you cut them down with your words. Convenient eh, when one's words doesn't need to apply to themselves. {: I'm sour, so, so sour~ Hahaha, awww, that's cute. Because I choose to defend the rights of a certain group of ppl, that automatically makes me a sour grape. Real mature, impeccable logic. Whose fault it is will perpetually remain a contentious issue. You think the fault lies with the individual, and complainers think the fault is in the system. Truth is, both can be at fault. It is contingent on the angle adopted to look at the issue. Yup! I'm no business owner. I do not have experience training locals in the capacity as a boss, I do in the capacity of my position in my job. But I'm not going to use my own experiences yeah, to reduce bias. So let's look at Dan Price, the head of a company who valued his employees and treated them with respect. Now, in his company, you don't see anyone complaining but the opposite is happening. This is a sign of good leadership. When there's nothing to complain about, people won't complain. And again, mediocre workers complaining is a non-issue. They are speaking their mind and being transparent about it. If a company is unhappy, then don't hire mediocre workers loh. Very clear cut. If the bosses themselves lament having to pay higher salaries to more capable employees citing excuses for increased cost yada yada, then guess who just joined the club of complainers. Not only employees whine la please, even bosses do. I have nothing against the law. Agreed that it should come down hard on antisocial behaviours and criminals. I actually think the police has gone a little too soft on criminals nowadays. Oh well, at least rule of law still exist here. As for the abuse of power, it can come in subtle forms such as a unilateral decision of agreement on deciding remuneration packages for goverment officials just to cite an instance. So are you sure that only the citizen complaining in KZbin are the ones who are selfish, arrogant, greedy and self-important? After all, the citizens don't get to decide their own wages, so how "greedy" can they get? One with an aspiration of earning $3.5k/month versus one with an aspiration of taking home $100k/month does show which individual is more avaricious. I oppose because it makes sense. Cool or uncool, honestly, who cares. Are you a kid? C'mon. As adults, why do I need to care if it's cool or not? Opposing your stance on Singaporeans complaining excessively is the absolutely logical thing to do. Nobody has rights over the voice of another, so lecturing others on how they ought to behave is daft to me. You are entitled to your voice, but if you take issue with other voicing out their views, you're a weakling whose mind is stuck in an echo chamber. If Singaporeans ain't breaking the law, they can complain and whine until the cows come home and that would still be totally acceptable. They know what they want, and I respect that. So should you.

[@JRambonian]

Lean Fire: live frugally so to retire frugally? Lol

[@tksav]

I wanna fimi