59% want to achieve F.I.R.E. and it is subversive! If AK can do it, so can you!

This is a commentary on a commentary by Keith Yap, a graduate of Economics & Development from Lee Kuan Yew School of Public Policy.

OK, that was just AK being cheeky.

AK is not learned enough to write a commentary.

AK only talks to himself.

It was a rather interesting article in CNA and anyone who is interested can read the full article titled 

By wanting to retire early, millenials are subverting conventional ideas of work and finances“: HERE.

It says most millenials want to achieve financial freedom in order to retire early.

Many millenials do not enjoy the work they do and they want to achieve F.I.R.E. so that they can choose to do what they truly enjoy without having to worry about the lack of an earned income.

The desire to achieve financial freedom also stems from a greater feeling of financial insecurity, economic malaise and the heightened inflation we are experiencing now.

It also says that adherents of F.I.R.E. aim to save 70% or more of their full-time income and that the ultimate aim is to save 25x of one’s annual expenses and make 4% annual withdrawals for living expenses.

Meticulous planning, extreme frugality and common sense investing are all things which characterize the F.I.R.E. movement.

OK, at this point, long time readers might be asking:

“Alamak, is Keith writing AK’s biography?”



Save 100% of our take home pay!

However, I think that saving only 25x of our annual expenses seem a bit risky.

AK is very kiasu.


To retire by 45, start with a plan.


Retirement drawdown strategy.

So, to the F.I.R.E. Padawan reading this blog, be kiasu a bit and build a buffer.

Seriously, you won’t regret having a buffer but you might just regret not having one.

If AK didn’t have a buffer, AK might be sending out job applications now.


Inflation and passive income.

Before I continue, in case some think that AK might be making a mountain out of a molehill, the article in CNA cited a TODAY Youth Survey done in 2021 that found 59% of respondents between ages 18 and 35 said having enough funds to retire early is a top indicator of material success!


That is so different from when someone told financially independent AK that he should be ashamed of himself!

Unintentionally or shamelessly giving myself a pat on the back?

You say lor.


Financially free AK should be ashamed!

The article went on to say that if the prices of cars, housing and daily household goods continue to rise, millenials are likely to delay marriages, home ownership and having children.

Millenials would focus instead on securing their own financial independence.


Good call!

AK claps for you!


A happy marriage is worth waiting for.

There is a Chinese saying that goes:


Bitter now, sweet later.

Work hard now and enjoy the fruits of our labor later.


Three attributes of a wealthy peasant!

Some people might tell me that F.I.R.E. is not the way to live life but it is my life.

F.I.R.E. is not just something personal but it is also about being socially responsible.

People who have achieved F.I.R.E. are not a burden to the society unlike people who are “lying flat.”


Lying flat is not financial freedom!

Of course, if striving towards F.I.R.E. makes us miserable, then, we might have to take a step back.

Look at what we are doing and see if we might have to cut ourselves some slack.

Anyway, I am happy to find out that so many young people are working towards F.I.R.E. in Singapore.

A big hurrah for everyone working towards F.I.R.E.

If AK can do it, so can you!

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