"When can I quit my full time job?" (Keep your needs simple and wants few.)

Reader says...
I am thinking of quitting my job when i am 40 years and do freelance work. 

I am pretty sure my freelance and dividends can cover my living expenses of about $8,000 pa. 

By 40 years old I will have a fully paid flat, about $120,000 stocks and bonds, $200,000 savings, CPF Oa $100,000, sa $70,000 and MA $52,000. 

Do you think i can retire from full time work given my financial status? 

Is my net worth good enough for a 40 years old





AK says...
If you are not a big spender, I think you can 🙂

And $8,000 expenses a year definitely not big spender to me 😀

Especially if your part time job is able to generate $8,000 or more a year. 😉





Reader says...
Do you think my finance is on the low end? 

Should I reach a more secure level?

AK says...
It depends on whether you feel insecure. 

If you do, work for a few more years to build a bigger buffer. 

Peace of mind is priceless.





Reader says...
I dunno what is a comfortable level.

As in how much I should have lol

AK says...
I would say that a comfortable level is when your passive income is able to cover your $8,000 a year expenses.

Then, whatever you earn in your part time job in future is extra money. 

You don't need the earned income then. 

It is just nice to have 😉




If we keep our needs simple and our wants few, we can achieve financial freedom more easily, for sure. 🙂

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