If you bothered to read my accounts, it is clearly seen that my financial independence has to do with 2 things (both NOT property related):
1. Save like hell.
2. Invest regularly in strong global MNCs that have history of increasing their dividends year-after-year. Most of my stocks are not Singapore companies.
85% of my passive income is from stock dividends. Only 15% is from the condo rental.
I was retrenched when I was 40 yrs old. I’ve never earned more than $5000 monthly basic salary in my life. Together with bonus & performance rewards, my maximum annual income was about $90K. Not even 6-figure income.
Besides points 1 & 2 above, the other points that helped me are:
3. No kids.
4. No car.
5. Bought both my HDB & condo at property downturn, low prices.
6. Bought my condo with 50% downpayment and paid off mortgage in less than 10 yrs.
Can *everyone* do what I did? Maybe not. But I can guarantee that if you adopt the mindset of THRIFT & INTELLIGENT INVESTING, you can shave at least 10 years off your retirement age.
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