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Anonymous
Wondering what the community thinks as passive income seems to be a goal for many, and in that case when will it replace the need for "active" income?
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Well.. IMHO... it is never enough to receive a passive income in Singapore... it is best that while you are working, you can also earn a passive income. But of course there is a time line for everything, a finish date for the flat or appliances that you have bought..
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At my age, I'll continue to work if I get that rental income. However if I'm above 50, I'll likely choose to work lesser for income, instead work more for passion and opt for a slower lifestyle
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I will continue to work to keep my brain active, of cuz if this 5k is an additional income i will reinvest it in other investment method
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I will choose part time work and invest most of the 5 k to create another income stream.
Will ma...
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Depends on what age I am at and how much savings I already have. I usually plan for the worst-case scenario, eg. what if I can't rent out the apartment and have no more passive income, would I have enough savings to rely on? If the answer is yes, I would feel more comfortable stopping working full-time and not having an active income. I tend to get bored easily if my time is not fully occupied, so it will be nice to still have an option to rejoin the workforce but mainly to kill time and boredom. :)