JUST ASK: Can retire at 50 with $2-3 m?

niadmin
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14 years 2 months ago - 14 years 2 months ago #2869 by niadmin

JUST ASK: Can retire at 50 with $2-3 m? was created by niadmin

Dear readers, you are welcome to give views/comments to the reader whose question appeared in this article: www.nextinsight.net/content/view/2026/60/ How can he increase his chances of getting to 50 with $2-3m? Easy? Difficult? Is $2-3 m enough to retire on for 30 years? Do u hope to retire at 50? Why?

Last edit: 14 years 2 months ago by niadmin.

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neontet
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14 years 2 months ago #2872 by neontet

Replied by neontet on topic Re:JUST ASK: Can retire at 50 with $2-3 m?

A non-excessive lifestyle helps a lot. Instead of $50 for 2 people, a meal in a foodcourt costs only $8 + drinks. Instead of a holiday costing $5K in Australia, a holiday in Bintan costs only $1K. Like that, can build wealth. But you must not feel you are depriving yourself. This is difficult to explain. Someone like Warren Buffett is happy to stay in the same house for 40-50 years, drive some non-fancy car, and not spend his wealth the way most of us would (if we hv that kind of $). Someone told me that Ng Teng Fong also like that - his house has not been painted all these years. And no renovation. He was a non-spender, somewhat reclusive too. Spoke no English. If you read the newspapers, he was said to have US$8 b. Nah, he had more - something like US$20 billion, including the non-listed shares.

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AK71
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14 years 2 months ago #2873 by AK71

Replied by AK71 on topic Re:JUST ASK: Can retire at 50 with $2-3 m?

Personal finance is similar to corporate finance in some ways. You want to make sure you bring in more income (topline) while looking to control costs to improve your bottomline. Doesn\'t it sound like a business? If you were running a business, would you simply lock up all your earnings in FDs? No, you would think of how to grow the money even faster. So, MusizWhiz made a fair point that investment is a must. The are so many methods to grow our wealth and investing in the stock market is but one way. We can achieve capital gains and high yields in the stockmarket, achieving greater financial security along the way. I have blogged about this before and the reader might find it worthwhile reading: singaporeanstocksinvestor.blogspot.com/2...-beat-inflation.html

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Mel
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14 years 2 months ago #3015 by Mel

Replied by Mel on topic Re:JUST ASK: Can retire at 50 with $2-3 m?

reading today\'s JUST ASK column a thought hit me: Wah, there seems to be a no. of people who wish to retire with a few million $. Is this website being visited by millionaire wannabes, or that\'s the kind of $ that stock investors dream of? I do hv some friends who are already in that league, so it\'s not an impossible goal. Gong Xi Fa Cai!

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Morpheus
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14 years 2 months ago #3017 by Morpheus

Replied by Morpheus on topic Re:JUST ASK: Can retire at 50 with $2-3 m?

HAPPY LUNAR NEW YEAR! May all forummers find Health and Wealth in the Year of Tiger! HUAT HUAT HUAT.

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wj168
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14 years 2 months ago #3206 by wj168

Replied by wj168 on topic Re:JUST ASK: Can retire at 50 with $2-3 m?

Want to retire with $2 mil by 50yrs old? Just hoot properties with leverage. It is safer than hooting stocks with leverage. GO GO GO!

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