Two years ago, I took a leap of faith, and quit my corporate job. It was my best job to date, a 5- figured monthly salary, remote manager, and more. I also had the title of a “manager” which was what I truly wanted. Best job, but not the right time.
The decision was triggered by a few realizations that I have
First Realization
The first realization came when I went house hunting. I always thought I work to meet my expenses, and to live in a BIG, BEAUTIFUL HOUSE that I call home.
That year when I quit corporate was also the year that I could finally sell my home. In Singapore, if you buy a HDB flat (what we call public housing, since it is managed by the housing development board or HDB), you’ll have to live in it for 5 years before you can sell it and/ or buy another home. I truly wanted to sell my HDB flat after the 5 year mark. I thought to myself that I want a BIG home. I worked, and saved because I wanted a BIG home, or so I always thought.
When I viewed the condominiums, I was not happy with any of them. If I sell my 4- room (i.e. 3 bedder) HDB and buy a 3 bedder condominium, it’s a downgrade to me, as I will be moving to a smaller area. I spend most of my time inside my house. I prefer to be alone, or with people I’m comfortable with. Hence, spending more time at the facilities to make up for the smaller area inside my home does not seem appealing. I went on to look at bigger condominiums. This was still in 2021 when house prices had not shot up like crazy yet. But those big condominiums that were bigger than my 4- room HDB cost almost as much as a landed home (i.e. houses). It makes no sense to me.
So I went to look at cluster homes and landed homes. For those that I could afford, they were run-down. And this was when I realize the onus lies totally on me if I were to own the house. I’m in charge of the inside and the facades, and the garden and what not! As I prefer not to employ any domestic helper, I’ll spend a lot of time maintaining and cleaning the house. The house will own me, instead of me owning the house. That’s definitely not what I want.
In addition, taking on such a large loan to buy those condominiums or houses will mean me being tied to my jobs for decades. With that, I will be spending more time at work, and less time enjoying the home that I bought. Why should I do so.
It became obvious to me that condominiums or houses are not my choice of housing. I went on to look at big HDB flats — executive flats, executive mansions and old five room flats (that are more than 120 square metres). I looked at so many, and I didn’t like that they were overly renovated. Except for tiles on the floor, every piece of build in e.g. false ceiling, build- in wardrobe, is a negative factor to me. The bigger the home, the more build-in people have, and the more I need to hack it off. I don’t want to adapt my life to the home just because I bought a home that has these build in. The home I buy should adapt to me. For the premium I am paying for the homes, and the extensive hacking I need to get rid of the extensive build-ins, I don’t find it worth it anymore.
And my first realization is that I didn’t really want a big, house that cost a lot.
With the realization that I’m not really into buying big houses, then it begets the question — what I’m working for.
Second Realization
So, what am I working for?
To be truly honest, at that point in time I was a bit lost. I can’t figure out why I’m going to work. Yes, I need to pay for my expenses, but truly, I don’t need as much as I thought since I’m not “upgrading” my home. So why am I dragging myself to work?
What is the opportunity cost of going to work everyday?
It’s actually time I deprive myself from. It’s actually very simple things that I am deprived off, like being able to go to popular places at off peak hours, being able to fetch my kids from school early when they are unwell, being able to eat lunch buffets on weekdays, and so on. How much money do I need to achieve all theses? Not a lot, if I’m savvy enough. Then why drag myself to work everyday?
Third Realization
Now that I realize I don’t want to drag myself to work everyday, I wonder if I’m ready to quit for good.
I have a finance spreadsheet that lists all my assets, and liabilities.
When I was about to quit, my liability was just my house, which I know I can pay off at any point in time I want, or when it makes sense. Back then, my interest rate was less than 2%, way lower than the CPF OA interest rate. No point redeeming the loan.
In terms of assets, I have enough to probably last 10 years of living expenses if I spend wisely. I also have about $2000/ month in passive income from my stock dividends and bond interests.
I’m definitely not ready for FULL RETIREMENT — beyond 10 years, I might start to struggle. But semi- retirement is a possibility, and why not start enjoying life now? Maybe 5 or 10 years later, I’ll go back to corporate job, but let’s see how life is like without a job while I’m still not too old.
Fourth Realization
I need self- actualization to make meaning in my life.
My job, past and present, doesn’t really fulfil that.
I need activities that I engage in that challenges and stretch me (mentally though, I don’t like strenuous activities).
There are so many occupations that I dreamed of, and some which I still dream of doing. I only live once. So why not try them out and achieve something out of it, and maybe earn so money out of it?
I always wanted to be the biggest in position in my job. I’ll be the biggest in my own company.
So I set up my company, and now become the biggest in my company. Goal achieved.
Next, this company will engage in activities that I always wanted to try.
And I QUIT
And with that, I quit .
It has been more than 2 years since I have quitted. I’ve learned a lot, and struggled sometimes.
I’ll share more in this blog.