So far I’ve only used etrade and POEMS brokerages. Since etrade has exited Singapore & closed all the trading accounts, I will use POEMS as reference. Firstly you are required to open a multi currency trading account to trade foreign stocks. You’ve to go through some online lessons and pass a test first, and fill out a very tedious form to consent that any dividend income you earn from the USA market will be subjected to 30% withholding tax. This is mandatory for foreigners purchasing us stocks
In FIRE (financial independence and retire early) community, people are usually quite frugal. They live a comfortable life but not extravagantly (by my standard). I wonder how much money do we need if we want to FIRE and live on our passive income indefinitely (regardless of the age we pass away) in Singapore, if we were to retire tomorrow (inflation not factored in because presumably passive income will also increase over time)
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