FI at 40. Can ?

 FI at 40?  Can or not?

Someone tries to compute the means to achieve $1M for FI at age 40.

Say he started salary at $3.5k, which is about current glassdoor salary for some industry.

I thought it is too low bar for Gen Z.  Some New Age starting pay is already near $6k.

Anyway, who are we to judge if the bar is too low? To each, his own.  Good reminder.

I had wanted to compute how much the under-40 can save $1M in CPF.  But realised that it is too academic and not practical. 

Simply because they need to pay for their new home loan.  They also need to support new family expenses and children dependencies.

That's life in SG or anywhere.  

But count our blessing that our Income Tax bracket is capped at 22% for now.

Count ourselves as blessed, enjoying food, shelter, job opportunity, security & safety in SG.

New Age benefits, new age opportunities and challenges.

Just one email and we are out of job for the New Age.

To achieve FI at 40, it may be easy.  But what about 40-60, 60-67 and beyond 67?

40-60:

One market survey says $3.5k pm household.  Generally $5k seems a realistic and comfortable number for now as shared by my retired colleagues.

61-67:

How to generate $7k p.m.  for 61-67 with help from Couple CPF Interest earned? And hopefully help from inheritance? 

Beyond 68

How to generate $10k p.m. beyond 67 with help from Couple CPF Interest & CPFLife earned?

The reason for tagging these ages is to buffer Garhmen policy adjustment.