- Ruth Ann and Luc Maurice retired early by investing in real estate to generate passive income.
- Both are originally from Singapore and Canada and spent their careers in Shanghai before retiring.
- They now manage their assets through mutual funds and divide their time between Phuket and Canada.
Ruth Ann was 30 when she met her current partner, Luc Maurice, on a flight from Phuket to Bangkok.
Anne is from Singapore and Maurice is from Canada, but they have been in a long-distance relationship for about a year. They decided to start living together in China in their early 30s.
They built their careers in Shanghai, working in advertising at Ann and as IT consultants at Morris. But gradually they realized they wanted more freedom with their time.
“I really wanted to get my time back,” Ann told Business Insider. “And to do that, I needed a cushion and a sense of security.”
So over the next 15 years, the couple built up their savings.
“We live hard and play hard, so our money has to work hard too,” Ang said of passive income that could help her exit the corporate world faster.
Their solution was real estate.
The couple retired in 2016, when Ann was 48 and her partner was 50. They now split their time between Phuket and Canada, enjoying their various hobbies.
Investment Strategy
For Anne, investing has looked different at each stage of her life.
In her 20s, she left Singapore to further her career in bigger markets: she moved to China, London, and New York with the idea of ”investing” in herself and building a strong resume.
Having a strong portfolio meant she was earning a six-figure income in her late 30s and 40s, giving her and Maurice, who was also earning a six-figure income, a strong foundation to start buying property without a mortgage.
“I've never been in debt,” she said.
She said she is careful to never buy a property that her salary cannot afford, otherwise it could become a liability rather than an asset.
The couple spent 10 years buying, renovating and selling five properties across China and South Africa, which helped them reach their “FIRE number” – financial independence and early retirement.
They quit their jobs in 2016 and moved from Shanghai to Phuket, Thailand.
Now in 2022, seven years after their retirement, they have abandoned their real estate strategy for a new one.
“As we get older, we don't want to spend a lot of time fixing up the house,” Ann said. “We decided to create more liquidity” and invested the money from the property in mutual funds.
Splitting the Budget
Ann and Maurice divided their assets in a simple way.
They spend about 40% of their annual budget on expenses in Phuket, their home base, with the rest spent on travel to Canada and other destinations.
The couple spend October through March in Phuket, then head to South Africa or Europe in April when the heat in Thailand sets in. They usually spend June through October in Quebec, Canada.
Anne also said not having children has made her goal of financial independence easier to achieve.
A serious hobby
Although she has been retired for nine years, Anne says the days still pass by quickly and she never gets bored.
“Honestly, I'm feeling more and more anxious. Time is passing so quickly and I feel like this is all we've achieved, this is all we've traveled, this is all we've explored,” she said.
This is because both of them pursue their hobbies as if they were a “second career.”
“My passion is actually literature – both reading and researching,” and she is also thinking about taking up writing.
Maurice is focused on sports.
“Luc spends at least 20 hours a week taking part in an Ironman coaching programme in Phuket. They take a break from May to July and train for a full year,” said An, who also takes part in competitions in the ocean.
Both enjoy golf and have played in southern Spain, South Africa and the western United States.
Recent non-golf trips include a trip to Turin, Italy and a safari in South Africa. This summer, he plans to spend time in Quebec.
Are you part of the FIRE community in Asia or Europe? If you have a story to share, contact this reporter: shubhangigoel@businessinsider.com
