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#1
15-07-2007, 11:42 PM
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Want To Retire Early? Here8217;s How
CHARLES TAN
ASK anyone who has ever bought a lottery ticket what he would do if he won, and the reply will invariably be: “Quit my job.” This leads me to believe that many of us seek fortune not because we want a second home or a third car, but rather, because we seek an end to the chore of our daily work routine. So, for those who are seeking to retire comfortably, early, here are 10 tips: 1 DON’T BUY A CAR Why, oh why, would you buy a car in Singapore? A vehicle, unlike property, never appreciates in value, petrol prices are astronomical, and parking is often a waste of time and money. Besides, Singapore has a world-class public transport system. 2 RENT TO LIVE, BUY TO INVEST With property prices hitting the roof and interest rates soaring steadily, buying a home now has never been riskier. Rent the house you intend to live in and only buy property when the economy is mired in recession. Surround yourself with liquidity when the going is good, because cash truly is king when going gets tough. 3 DON’T DRINK OR SMOKE There’s a perfectly good reason for all those heavy duties on alcohol and tobacco — they’re bad for you. Liver cirrhosis and lung cancer are not pleasurable — and it’s not cheap to treat them. Quit now. 
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#2
15-07-2007, 11:44 PM
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Re: Want To Retire Early? Here8217;s How
4 DON’T GAMBLE
It may not seem like much every time you place a wager. But consider this: Instead of blowing $500 a month on gambling, saving that amount in your CPF Special Account at 4 per cent per annum would yield a total of $350,000 at the end of 30 years. 5 CREDIT CARDS With interest rates of 24 per cent per annum, credit cards spell disaster when they fall into the wrong hands. If you use a credit card because of the perks and privileges, make sure you can afford to pay off the debt in full. If you find yourself only paying the “minimum sum”, you’re in trouble — so switch to using a debit card or Nets. 6 OWN A BUSINESS If you have the right idea, relevant expertise and helpful partners, no other investment can match the kind of returns that owning a business can give you. Ifyou don’t have the inspiration to be an entrepreneur, then buy a piece of an existing company from the stock market. 7 AVOID UNIT TRUSTS Unit trusts have always marketed themselves as these glorious bastions of outperformance, run by dedicated professionals. But a Wall Street Journal study showed that, on average, professional fund managers are not any better at stock picking than chimpanzees throwing darts at a newspaper. After taking sales charges, management fees and so on into account, you are almost always better off buying a benchmark index-tracking Exchange-Traded Funds, or ETFs. 8 DON’T BUY INSURANCE UNLESS YOU REALLY NEED IT Insurance is an undoubtedly useful instrument. But think carefully again when your insurance agent starts saying that you should start early to “lock in low premiums” (because they will only get higher as you age). The facts: At 5 per cent per annum compounded annually, a 30-year policy will cost you twice as much as a 20-year one, all else being equal. This means that buying an insurance policy 10 years earlier than necessary will cost you dearly, even if you do pay marginally lower premiums annually. 9 HAVE THREE OR MORE? YOU CAN’T AFFORD IT! I adore children but, let’s face it, kids really are financial black holes. Consolidate all your expenses, from hospital bills to tertiary education, and you realise that the baby bonus does little to alleviate the epic costs of raising a child. And parents regularly pass up promotions and raises for the sake of their young ones. 10 LIVE SIMPLY Perhaps the most crucial point. Michael Jackson was worth over US$1 billion ($1.5 billion) at his zenith, but the spendthrift frittered his fortune because of his decadent lifestyle. Remember that income is only half of the wealth equation. A lack of fiscal discipline can still spell financial ruin. Migration is also an option, but plan carefully, because amenities like healthcare are appallingly inefficient and/or expensive in other countries. Money may be a terrible master, but the mastery of money makes many things possible. Even early retirement. The writer is currently studying MSc Finance and Economics at the London School of Economics and Political Science
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#3
15-07-2007, 11:48 PM
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Re: Want To Retire Early? Here8217;s How
act i personally feel i wanna to be debt free rather to retire early. imagine u really followed this 10 steps, u realli got no life leh by doing all these. retire early don't mean u can be happy too...
i really dunoe wat this guy is writing oso, he is just plain writing w/o tinkin on another side. weird~ 
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#4
16-07-2007, 12:30 AM
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Re: Want To Retire Early? Here8217;s How
Quote:
Quote:
Note : This writer could be suicide prone or go around killing people like recent South Korea guy in US. Quick !!! Quick refer him/her to Mental Hospital now.
__________________
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#5
16-07-2007, 12:52 AM
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Re: Want To Retire Early? Here8217;s How
How come dont cheong its not part of the criteria???
__________________
OFFICIALLY DECLARE SAMMY-RETIRED BUT OF COURSE WITH OCCASIONAL EXCEPTION My First Thread What to do during AV raid? Personal views on Chinese MMS:
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#6
16-07-2007, 12:59 AM
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Re: Want To Retire Early? Here8217;s How
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Indulging in sexual vices will also drain finances too other than energy and time, hehe. Or maybe the guy never indulge before in that too, haha.
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#7
16-07-2007, 01:01 AM
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Re: Want To Retire Early? Here8217;s How
he is in london leh that guy
i think sg need medical insurance cos they say , in sg can die cannot get sick the other types of insurance ... can forget it 
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#8
16-07-2007, 01:07 AM
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Re: Want To Retire Early? Here8217;s How
Every one has a vice or a hobby.It keeps us sane I guess.Some smoke,some gamble,some spend money modifying their cars.
I know a guy who jus works and works, and although he is now a millionaire....He got no wife, and because he takes peoples cigarette to smoke so that he dun hv to buy......He has NO friends.I tink he wanna retire early also......but at what expense?? He got NO friends and FAMILY !!!
__________________
When i was young n horny...got no $$.Now when i m older n richer....THANK GOD IM STILL HORNY!
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#9
17-07-2007, 11:58 AM
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Re: Want To Retire Early? Here8217;s How
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__________________
Pls pm me for return favour. PS - minimun 5 pointers pls. Tks. 
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#10
17-07-2007, 12:55 PM
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Re: Want To Retire Early? Here8217;s How
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Life is not about earning a lot of money alone.......you also must enjoy the fruits of your labour.WORK HARD....PLAY HARD.
__________________
When i was young n horny...got no $$.Now when i m older n richer....THANK GOD IM STILL HORNY!
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#11
17-07-2007, 03:05 PM
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Re: Want To Retire Early? Here8217;s How
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__________________
Life is SHORT....BONK whenever you can...........
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#12
17-07-2007, 03:15 PM
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Re: Want To Retire Early? Here8217;s How
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got time to work, must have time for play also. if not, no meaning to live also, work & save so hard, the $ also cannot bring into the grave.
__________________
honor and glory, boner and pussy when the lark stands tall, the reds will not fall! u'll never walk alone.
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#13
17-07-2007, 03:19 PM
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Re: Want To Retire Early? Here8217;s How
Quote:
__________________
honor and glory, boner and pussy when the lark stands tall, the reds will not fall! u'll never walk alone.
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#14
17-07-2007, 03:56 PM
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Re: Want To Retire Early? Here8217;s How
Quote:
__________________
When i was young n horny...got no $$.Now when i m older n richer....THANK GOD IM STILL HORNY!
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#15
17-07-2007, 04:01 PM
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Re: Want To Retire Early? Here8217;s How
Quote:
__________________
When i was young n horny...got no $$.Now when i m older n richer....THANK GOD IM STILL HORNY!
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