Thank You For Reading, And Some Updates

Thanks to all the recent readers who commented on the blog. I am extremely happy to see most are Singaporeans, or who are familiar with Singapore at least. I was starting to feel a little lonely for compatriots on the blogosphere. I am sorry for not responding to all your comments directly, because I have not exactly been checking non-critical email accounts, or been on the internet for a while.

As I mentioned in my last post, I had been having a little…funk for the last few months. This resulted in my taking a three-month unpaid sabbatical from work to try and get back on even keel. I honestly feel extremely lucky that my company valued me enough to keep my position open during this period, though I am sure this is going to hit me when bonuses and share options are announced next year, since I haven’t exactly been performing this year.

Three months of lost salary aside, I don’t think I will be taking a major hit to my net worth this year, because my mother decide to gift me SGD 18K last month. I kind of protested, but she told me it would all be left to my sister and me anyway, and she would rather let us have it now because she was worried she would become susceptible to cheats in her old age and consequent vulnerability (she did include banks in that class…haha).

Also, my personal expenses are low enough during this period that it seems that the cash flow from the rental condo would cover most of it. The only stuff I couldn’t exactly cover were the income taxes and my whole life insurance premiums, which are coming from savings.

I personally feel a great sense of relief that I could afford to take the three months off for mental health’s sake without being majorly impacted financially, even without my mother’s gift. If there was ever a time when being frugal paid off, this was it. It also gives me a greater confidence that I will be able to live the simple, low cost life in my retirement.

I don’t exactly have the numbers for my overall financial picture yet since I kind of let go of data entry during the last few months. I will post them once I get caught up. I am also at a sort of a cross road with regards to my work and career now, so there are several hard decisions that I might really need to make. I am really not sure if I can last the next ten years in the engineering field before I will be able to retire. Yet downshifting at this point to a lower paid job is going to have direct consequences on my early retirement plans as well, though I may probably be able to last a little longer at a less stressful job.

I am also struggling to reconcile my parents to my early retirement plans which I will probably discuss in a next post, since this one is getting a bit long. So, thanks again to all who are reading and/or commenting. While I didn’t mind putting my thoughts out to a vacuum, it is good to know someone is listening.

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3 comments on “Thank You For Reading, And Some Updates

  1. Ben says:

    Hi

    You must be very stressed at your work. You make the right decision to take a break from your work to recharge your energies. Take things easily and have a relaxed mind in your handling of matters.

    If you find that you are unable to cope with the stress demand in your work, you may want to consider taking a longer break. No doubt, you will have no income from your full-time job. The most important thing is your health. A healthy body matters most. Of course, if you intend to take a break from your work, you must be prepared for possible long term unemployment. I think that you have managed well in your expense during the time when you did not have the income. You should have no problem going through the months without the salary from the active employment.

    Based on the information you provided in your blog, I believe that the most expense is your condominium monthly instalment. It should not be a problem as the expense will be offsetted by the monthly rental income from the tenants.

    In fact, you may be able to retire now if you can maintain the low expense. Of course, life may be dull without the indulgences which you might want to make your retirement lifestyle more lively.

    Just my two cents’ worth of thought.

    Regards.

    Ben

  2. Miss JJ says:

    Hi Ben,

    Thanks for your comment.

    Truth be told, I have no idea why I should be so stressed at work, because in reality, I believe I am underworked and a little overpaid. Perhaps, it’s the fit. I chose engineering for mercenary and stability reasons, but I was never too passionate about the work. And now it’s all catching up with me.

    The same thoughts about being able to retire RIGHT NOW has also occurred to me several times in the last one year. I can maintain the low expenses, not a problem, and I don’t believe that will really impact the quality of my retirement. But it would mean that I will always have to live with my parents, and that is something I feel difficulty in accepting. I would definitely like to have the 2-apartment setup completed before I actually withdraw from the working world. Even if I need to continue living with my parents for caretaking purposes in future, I like to know that I have my own place to withdraw to if I need it. It is important enough to me to hang on for another 5 to 10 years in the working world.

    I will write more about it in my next post…thanks again.

  3. Ben says:

    Hi Ms JJ

    Thank you for your reply.

    There is nothing wrong in choosing engineering for monetary and stability reason.

    I can understand your difficulty in accepting the fact that you have to live with your parents. Even if your parents do not highlight their concern on why you have retired (not working), the feeling of uneasiness is always there. You are right to indicate that it will be good to have a place as a back-up in case you need it.

    I am looking forward to your next post. Take your time and there is no need to rush.

    Ben

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