Tuesday, January 09, 2007
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Interesting Model For A Life
The article below is from AsiaOne. It is about Mr Melvyn Chew, someone who semi-retired at age 37. He is not fabulously rich - simply very clever at living very cheaply. I don't really admire his lifestyle, but I do admire his courage in daring to live a life so different. Also, being single definitely has cut down plenty on your living expenses.
The article:
You can enjoy retirement on $20 a day
By Narendra Aggarwal - Oct 20, 2006
Not many people are as lucky as Mr Melvyn Chew, who quit full-time work at age 37 to go into semi-retirement.He decided to drop out of the rat race to opt for an easier pace of life.
Trained as a lawyer, he worked as a legal assistant in a law firm here for just three years when he decided to move on to acting and teaching, which he has been doing on a part-time basis since."I started thinking about not having to work full-time since I was in my 20s," Mr Chew, now 42, tells AsiaOne in an interview.
Said the bachelor: "Many people don't want to go to work every morning because they do not enjoy what they are doing. Coming from an acting background, I have many friends who, like me, don't like the idea of being tied down to full-time work.I don't have a budget. I think I don't really have to work at all, if I keep expenses at this level. But it's fun to do so."You do not need a lot of savings to go into semi-retirement. But I made sure that I paid up my housing loan before I decided to take it easy.
You don't really need huge savings to retire. I think if you have $50,000 put away, semi-retirement is a workable option.''Being single helps as this frees him from the financial commitments which a married man would be saddled with. He gets by on less that $20 every day. Breakfast is at home, lunch costs about $2.50, and dinner, $3. Add another $3 for transport. "I really don't understand what people spend on - you do not need much money for your day-to-day expenses," he says.
He loves cooking, so he doesn't eat out as often. But once a week, he gives himself a treat and goes to "a nice place to enjoy the finer things in life,'' he confesses. And despite his modest means, he has been able to suss out cheap holidays to Chiangmai on $200, Australia for $1,000 and even toured France and Spain for less than $2,500.
As for getting around, he uses public transport. "I live in a small walk-up private apartment, the size of a three room HDB flat, in Novena. So it's very convenient taking the MRT.''His part-time jobs - teaching business law at Singapore Management University and Nanyang Polytechnic and some acting assignments - provide him enough to get by every month."My income is irregular. Some months it is in the hundreds, while in some other months I make a few thousand. I really don't keep track of the money. All I know is that I spend less than what I make.
''But he has to manage his tight budget carefully. "Budgeting to me is a game of some sort, while most people find it a chore and give it up after a while,'' says Mr Chew, but he declined to say how much of savings he has and how that money is invested.What about the future? And old age?"I do not worry too much about the future. I am a Christian and believe that God is looking after me''
(Interesting? Next blog entry will be on Mr Chew’s tips for semi-retirement)
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小强's File |
24. (but acts 14)
Multi tasker / Multiple Personality.
Free Spirit.
Many preferences, Few dislikes.
One Weakness.
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