possible to do so?


BBTM

Senior Member
Nov 23, 2004
2,209
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BB West
#1
I did a rough calculation last night. If I spend only $500 - $600 monthly and save the rest, after retire at 62, I rent my rooms out and I got at least $2k plus room rental, total at least $3k till I die (monthly). That means no more lottery betting, entertainment, new "toys", trips etc. So, worth to do so and will you do that?
 

donut88

Senior Member
Nov 14, 2008
2,182
5
0
#2
I did a rough calculation last night. If I spend only $500 - $600 monthly and save the rest, after retire at 62, I rent my rooms out and I got at least $2k plus room rental, total at least $3k till I die (monthly). That means no more lottery betting, entertainment, new "toys", trips etc. So, worth to do so and will you do that?
Most impt is stay healthy.

3k not enough for you?
 

BBTM

Senior Member
Nov 23, 2004
2,209
6
38
BB West
#3
Most impt is stay healthy.

3k not enough for you?
22 years later, 3k might be nothing for most of us if every things keep increasing like no tmrw. Maybe min $10 meal also possible by then.
 

richiemccaw1

Senior Member
Feb 21, 2013
3,103
27
48
Singapore
#4
At the rate things are going, not many people will be able to own their own homes, or have enough space/room to rent out to other people.

I would however be happy to live on a decent stable passive income without doing funny things. :) I'm a simple person.
 

donut88

Senior Member
Nov 14, 2008
2,182
5
0
#5
22 years later, 3k might be nothing for most of us if every things keep increasing like no tmrw. Maybe min $10 meal also possible by then.
Then you contradict yourself. Your own statement states the $, but u didn't factor in the inflation
 

UncleFai

Senior Member
Mar 10, 2010
4,451
37
48
Singapore
#6
Then you contradict yourself. Your own statement states the $, but u didn't factor in the inflation
I would assume one's savings are invested in some low-risk instruments that hopefully can break even with inflation.
 

BBTM

Senior Member
Nov 23, 2004
2,209
6
38
BB West
#7
Then you contradict yourself. Your own statement states the $, but u didn't factor in the inflation
Draw also no need to draw till intestine out mah ;p (convert from Chinese, haha!)

But life is short, don't know when go. I going for an adventure but those who earn higher than me, still want to save and never step out far enough. I don't earn much, but I plan well ahead if I need to. :D
 

#8
I did a rough calculation last night. If I spend only $500 - $600 monthly and save the rest, after retire at 62, I rent my rooms out and I got at least $2k plus room rental, total at least $3k till I die (monthly). That means no more lottery betting, entertainment, new "toys", trips etc. So, worth to do so and will you do that?
Everything is doable if you're prepared to make sacrifices for long-term good and plan for it early.

All the best!
 

BBTM

Senior Member
Nov 23, 2004
2,209
6
38
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#9
Everything is doable if you're prepared to make sacrifices for long-term good and plan for it early.

All the best!
Things hard to say one la. As long try to plan nicely, life passed easier. :D
 

#10
That amount is already what is demanded of me by my parents each month on average. hahahah... I think you are a young kid still with almost no responsibility to anything or anyone yet if you can live on just $500-600 heheh. Who is paying your water, electric,housing,internet,phone,possible medical,dates..etc?
 

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