I watched on CNA Insider how Colin Lau managed to retire at 35 when he was retrenched, and had lived so since then. He did so by living below his means, and monetizing a home that he bought at a low price. His formula was simple, buy a home you can afford, monetize it through rental, then live frugally enough so that the rental covers his expenses. With homeownership at 91.2% in 2025 in Singapore, we can follow this strategy to retire once (1) mortgage is fully paid for (2) we become landlords (3) we live frugally enough so that our rental income is more than expenses. But Colin's success is still a minority in our society because his secret to success is simple, but not easy.
And I think I know the reason why Colin could do this with seeming ease. This could be found in finance Youtuber, Seth's hour long interview with Colin Lau where he shared his journey to retirement, and his journey since. In that video, what caught my attention was Colin's comments on mental hobbies.
Colin mentioned that his retirement was filled with fulfilment as he is engaged in his mental hobbies. He even mentioned that he wrote down the things he wanted to do, and he can't finish them all, there's just too much of them. For example, he shared that he wanted to teach piano until he taught Grade 8, which he fulfilled. Most of his hobbies are mental hobbies, are (almost) free, and that's why he doesn't need to spend so much.
Isn't he like the muggers back in my school days. It always amazes me how they could be so engrossed in studies that they are nonchalant to the commotion in class, or the juicy gossips. I have a feeling Colin is also very engrossed in learning and his other activities, that he has little time to think of consumption, and that explains his very low expenses. It's like during my final year in University, when I was just trying to complete my final year project (FYP), and spend the last few months just working in the lab, and ignoring everything else. Consumption was low, because I only wanted to eat and drink to survive and spend all other time on the project. He probably is frugal as his focus is not on consumption, as he is preoccupied with his hobbies, which happen to require almost no consumption.
After watching the video, and reflecting on myself, I realized why I have been spending more. I do not have hobbies or activities that I am highly engrossed in at the moment, so when I am free, I will look at travel sites, and plan the next travel, or go on shopping apps, and find the inspiration for my next purchase.
In short, maybe the trick to frugality is to find a free (or almost free) hobby that you truly like and will completely absorb you, then your thoughts will be on this activity. Suddenly, a lot of unnecessary expenses disappears.
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