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Retirement is simply based on your fixed costs and lifestyle. You can pivot and adjust down greatly by applying Geo Arbitrage....Remembering your Go Go years are until around 70, IE spending is likely to reduce further from here unless your super active.
Josh, thanks for sharing. Intuitive calculator. I am now 58. Comforting to know I am FI till 100 without being a liability to my kids if I outlive my life expectancy. My kids would be in their retirement age when I died with zero.
Hi Josh, the objective of financial freedom at retirement should focus less on the assets required but more on the income. Preferably to have passive income close to or equal to active income at the point of retirement. The assumption being expenditure should be less than active income and the balance reinvested into generating more passive income in order to reduce/overcome inflation. This method does away with having to estimate lifespan and reduces inflation concerns.
Hi, happy to hear feedback. I hear the pov. It’s the passive income > expenses methods. The amounts needed would be big because capital is intact. By consuming capital, the targeted return can be reduced. The passive income also needs to grow w inflation. If it’s all into bonds, there is a problem also. Hope it clarifies k 👍
@@joshconsultancy Hi Josh, why would people ever want to consume their capital in retirement? Surely everyone wants their capital to last forever? You might live way longer than your projected lifespan, especially with the advancements in medical technology nowadays.
Thanks for sharing how to use the super useful calculator. Can consider doing video on ways or excel spreadsheet to capture our Schedule of Assets (for ease of estate matters) & track our Assets, Liabilites & monthly Income & Expenses? Thank you 😅
Hi Josh. How to use the calculator for a retiree who has dividend and bond coupon (fluctuating) which are below the yearly required expenses? Something like calculating when money will run out. Hopefully, not before death. 😢
Input income needed after retirement as ur expenses now. Other income after retirement as ur best guess of total passive income now. Test how much savings can last 👌🏻
Hi Josh, thanks for sharing the calculator. Under its "Other income after retirement", the calculator assumes that this income is received from the planned retirement age. In Singapore's context, as you've also pointed out, it's the CPF Life payout. So, if someone in Singapore plans to retire at age, say 40s, how to account for CPF Life that starts payout from age 65 ?
Uncle Josh, what do people typically do once their have saved enough money? Stop work? What to do with so much time? Some hobby is ok, too much also becomes a chore :(
