Showing posts with label parents. Show all posts
Showing posts with label parents. Show all posts

Thursday, 8 July 2021

The turning point

Why do you turn to FIRE? Why are you saving for retirement? Most people I know, don't seem to want to plan/save for retirement yet?

I was thinking what was my turning point? It was probably started due to me having a tumor in 2013. I had surgeries, and have since mostly recovered. Before the tumor, I was quite a workaholic. I vividly remembered a conversation I had with my brother who was working with me in my previous company (He was in another department. We both have since left.). I was having lunch with him (forgot where, parents or workplace?) when I was asking him some work related stuff. He answered my questions disinterestedly. When he realized that I had more questions, he commented that he didn't want to talk about work during his meal time.

Now, my priorities have changed. I realized that if I suddenly pass away, I will have regrets.

On his/her death beds, no one will regret that he should have worked longer hours, take lesser breaks etc. Your colleagues, friends even will probably be sad for a while, but your family will be sad or even suffer for a long time.

I know one of the things I will regret is not spending time with my parents. Now, I try to see them twice a week, and chit chat about things, memories, instead of fiddling with my handphone. Don't wait till they are no longer around.

Sunday, 27 June 2021

Giving to parents

To me, some expenses are fixed and giving to parents is considered one of them. Of course, if the parents doesn't want it (and one can confirm that they don't need it), one can skip it.

When J became a SAHM, I was adamant that contribution to her parents (aka my in-laws) should not stop or decrease. Our decision to let her leave her job should include her continuous contribution to her parents. It was only a few years later, upon repeated persuasion and confirmation by her parents that they don't need the money, that she stop.

Similarly, our FIRE target includes contribution to my parents. Me not earning a fixed income, doesn't mean my parents have to tighten their purse strings! By following the safe withdrawal rule (4%), I hope that I don't run out of money when I retire, so I can continue to contribute to them forever.

-H