FIRE-itis. An imaginary disease that when afflicted, causes the infected to pursue early retirement immediately regardless of their financial readiness. Full-time employment is no longer an option.

I figured that it would be a fun exercise to write about. The focus would likely shift from one that focused on asset accumulation to cash-flow and sustenance.

1. Dependents

Number one of my worries is definitely my parents. With no kids to worry about (except our World Vision daughter we’re supporting), I can focus my efforts singularly at supporting my parents.

I have mentioned a few times that I have previously transferred $40,000 of my CPF-OA money to my mum to enable her to withdraw $300 monthly for life. This is a strategy (slowly ensuring my parents’ worry-free retirement) that I have begun to pursue even prior to this exercise, assuming that for some reason I’m no longer around to provide for them.

Advertisements