hello 40

Reviewing 30s

Work wise was tiring and started to see some money rolling in exponentially when I joined mncs at 36. Hence it helped me till date build up slight 50% of retirement goal. Now at 40, it’s tough to jump company to get huge pay increment given the climate and my skill sets it’s not feasible. Plus I have no desire to move and readapt again.

Housing wise: Sold 1st resale HDB flat at 35, made a mere 80k, stayed with parents for a year while finding the next flat. Hubby was tempted to spend 1.3m to upgrade to a condo but as the cfo I did not approve and looking back we are glad that we didn’t have much housing debt. Our CPF OA till date can service 50 percent of our current Hdb loan so we don’t have that much unwanted financial stress. We chose not to wipe out OA during our second Hdb purchase just in case we get retrenched and need not fork our cash to repay mortgage. Last year sept we repriced to 1.5% for next 5 years.

Health wise: starting to see some cracks like waking up frequently in the night making toilet runs, losing hair, anxiety etc hence embarked on wellness through TCM. Though not cheap, I do think health is important, if I don’t take care now it will haunt later. I do not want to be a burden to hubby or immediate family and definitely value quality of life.

Money wise: Am focus on buying needs not wants. Willing to spend a bit more on needs for longer mileage and low maintenance purposes. Still following long /short term financial goals. Investing in growth stock regularly (ten baggers concept), I hope I get to bag at least one per year.

Marriage wise i cannot ask for more. Blissful to have a hubby who is simple, does not go after material wants or have any midlife crisis yet :P. Only vices he have – gluttony and being nocturnal (both bad for health).

The most problematic part of our lives are my parents and his mum. 3 of them are not financially prudent.

However I am glad my parents have recently awoken. Our govt has been encouraging elders to return to workforce through monetary incentives. Both of them got a job near home and have extra cash to spend on wants now. Suddenly they are living amicably and not tearing each other hair out over money.

The only qualm is mother in law and her current hubby (not my fil) who lives off her. Both refused to work, or I think they are socially unable to adapt or mentally challenged. She takes a substantial monthly payout from my hubby for ten over years and counting while his siblings do not and is probably not willing to. My hubby biggest worry is his own mum and she is now 59, we still have a long way to take care of her. The worst thing is she does not have the concept of money and spends when money is on hand. She spent 30k in just 6 months (money gained from selling flat from her ex ex husband – not my fil). Hubby has to disperse cash twice per week, otherwise she can spend the monthly allowance (1.5k) in just one week. Well I try not to meddle and stay neutral, the only boundary I set and tell him- I trust he is adult enough know to give to a certain extent, not to enable the wrong behavior as his money is mine, and mine his. We are one entity. Hubby can only stop worrying perhaps 20 years later when he is in his 60s and his mum at 80. Well, luckily we don’t have kids because our parents are our big kids.

Well that’s life and we deal with it. We will continue to try to do the right things everyday and hopefully by 50 we should be in a better place in all aspects of our lives.

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