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this post was submitted on 09 Aug 2024
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Chapotraphouse
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The article says he saved up 1.18 million Singapore dollars, which is about 892,000 USD. Are they seriously saying that's ”never have to work again” money?
From the info I found, you won't be eligible for pension until you reach 65, so that's 20 years. I guess it's not as bad as it initially seemed, but then again no more company dorm to live in after quitting.
If you don't have a million dollars you can't even have a house in the US so I have no idea how much money this actually is
Yeah the entire FIRE community is all about creating """passive income""". The whole thing is PMC proles with petty-bourgeoise aspirations.
It's incredibly sad but it's a very insightful step into that class aspirational mindset. All of these people are completely impossible for communists to reach, they really believe in this system and they're playing it like you would play a videogame.
Yeah but unfortunately many of these people are not just trying to become un-exploited, but trying to become exploiters. It's full of boasting about it in fact too. Vile.
It also might be enough if you keep eating cold rice every day. Not having to work just doesn't seem like it'd be worth it if your only hobby was existing.
at 4% withdrawal, thats $35680 usd a year to live off of, which is not hard at all if you have a house paid off.