90: Life 4 - On...Retirement

Published February 17, 2023 · 3 min read · #personal

Retirement has been a topic recently. Cropping up in some conversations.

Certainly not applicable for myself at this hustly career focused stage. Neither am I an immediate proponent of the Financially Independent, Retire Early movement. I suspect the inner survival instinct and drive will lead me to continue to work.

Instead, the conversations are centred around myself and my peers whose parents are entering the zone of retirement.

It also ties in to some recent 2023 planning (which could be a post in itself - though slightly curated for a truly public version. There are hidden areas and desires of oneself that I’d keep close to heart)

Some points that emerged from such conversations:

The first point is that people retire in different ways. And that’s a personal choice.

Some like to keep intensely busy; while others aim to retire as soon as its practicable.

But what I’m certain of is that the notion of retirement could be easily change in the future. And it’s best to be prepared. We may work longer, and my cynical outlook is that there may be significant adversities or radical disruptions to the plan.

Second, it’d be good if retirement was centred around the principle of freedom.

  1. Health - minimising the restrictions of the mind and body
  2. Social / Communal - minimsing obligations to others (frankly, including family, etc)
  3. Similarly, minimising obligations of others to me - I wish those important and those around me to be as free as I am.
  4. Financial - minimising debt and whats materially owed to others

I think thats a relatively good starting point.

Retirement budgeting

For now, planning ahead, as I like to do, will largely look at this from a financial point of view, which starts today. Something of a plan, something of a guideline. Good to get started either way. At this stage, I’m hesistant to fix numbers. Instead, I’ll use ratios based on median pay. I think it’s a suitable way to establish baselines for a very unknown future.

Basic needs (1x median pay)

  • Roof over the head
  • Food on the table

Basic wants (2x median pay)

  • Some nice meals and drinks
  • 1 big trip
  • 1 small trip

Luxurious wants (3-4x median pay)

  • Additional travel
  • Unecessary luxuries

To achieve this:

Removing outflows

  • Minimising debt - not sure when things can get paid off, and by when

  • Maximising Sources of income - how does one get there?

  • Property rental

  • Cpf and savings

  • Monetising stock holdings or investments like..

  • Stock dividends

  • Bonds

  • Liquidation of stock

Investments too, could be tied to how I intend to retire. By supporting businesses in an advisory role, very much hinged on how much I learn today.

Some stuff to think about, today.

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Previous Post 89: Decision-making 4: Maximising and Satisficing
Next Post 91: Geopolitics 1 - Pax Technologica

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