There is a recent report showing more Americans choosing to retire earlier. This could be due to health concerns due to the pandemic. But more importantly, they retire because they become richer.
While the world struggles to cope with the pandemic, the US stock market is booming and showing no signs of slowing down since mid last year. Property prices are also skyrocketing in US, which made many people rich and able to choose to retire earlier.
In another report, the poorest in America have almost used up their savings as they struggle with unemployment, inflation and debts. This widens the income gap as the rich get richer and the poor get poorer.
In Singapore, we are also seeing a similar situation, property prices are at a record high. The median price of 5-room HDB resale flats in Queenstown is now S$926,000, so close to $1M. The COE premiums for big cars have crossed $70,000 to reach a six-year high. The rich get richer while the poor struggle with rising electricity prices, food prices and costs of basic necessities.
Many of us belong to the middle-income group whereby we are not exactly poor but at the same time, not filthy rich. We rely very much on our day job(s) and we put in long hours just to get good performance grading and hopefully a bigger pay increment every year. Losing the job is unimaginable considering how many burdens we carry on our shoulders.
The pandemic has proven that nothing is guaranteed and we should always have a backup plan in the unfortunate event our job security is threatened. In the past year, I have been blessed to learn some investing strategies that can generate a good sideline income by riding on the growth of the US stock market.
I am no guru but I am still very keen to share everything I started this investment blog and every day, I am adding articles to slowly share with you what I have learnt in the past year. If you are keen to learn more about these investing strategies that can potentially help you build wealth, retire earlier so that you can finally have time to live your life, please check out the articles in this blog or subscribe (scroll down to the bottom of the page and enter your email address) to be notified of new posts.