Am I old before my time?
People my age are spending a lot of money to travel, buy expensive watches, purses, handbags, clothes, cars, and I’m here thinking, how am I going to make enough to pay off the two rental properties I plan to have for retirement passive income and a house.
I don’t buy coffee, I don’t eat at restaurants (only hawker centers), and still the math doesn’t add up. I make close to $10K a month 5 years out of uni and I can’t imagine how I’m going to be as stable as my parents at the bare minimum.
My father isn’t a graduate but he has two paid-up apartments paying him $3500 each a month. I’m not inheriting much of these apartments I have 3 brothers.
Real estate inflation has outpaced income growth by a tremendous amount and I can’t wrap my head around how young people have enough to be spendthrift AND to prepare to retire gracefully.
As far as I know property is the only safe way to have passive income.
Unless I’m in the minority who actually gives a crap about his old age. How is it though that everyone around me seems to think that they are going to die soon when the life expectancy of Singaporeans is one of the highest in the world.
We can safely expect to live well into our 70s. Do most of us really think everything is going to work out if we don’t prepare? Will it be enough if we only start saving in our 40s?