View Full Version : $$$$ to prepare for retirement?
How much do you think it's suffice for retirement per person? Let Presume that the lifestyle is still the same hor....
Bank saving? Heard some financial expertise said 100mil per person for 20 years :doh: ! Dun know true or not:confused: ?
Passive income? 1/3 of the current income :scared-4: !
Please kindly chip in your comments ..:cheers4: !
100 mill per person? :scared-5:
Tio bo.
What kind of lifestyle are you talking about???
phantom_opera
19-09-12, 09:54
2/3 properties fully paid, one own stay, the rest rent out say can get 4k passive income net expenses
+ 300k in 20y bond, 200k in 30y bond, 100k in 10y bond
100k in STI ETF
500k in cash
Above exclude CPF / CPF annuities
All based on present value .. if retire 20y later is totally different
100 mill per person? :scared-5:
Tio bo.
What kind of lifestyle are you talking about???
Sorry..typo..it's 1 mil..:ashamed1:
2/3 properties fully paid, one own stay, the rest rent out say can get 4k passive income net expenses
+ 300k in 20y bond, 200k in 30y bond, 100k in 10y bond
100k in STI ETF
500k in cash
Above exclude CPF / CPF annuities
All based on present value .. if retire 20y later is totally different
In total, seem like more than a mil liao..:47:
1. Need to grow the seed money and don't eat into it...inflation, inflation...
2. depend on how much u hv to spend on your medical care and old age care
3. depend on to what extent u need to support your children and grandchildren
4. and of course your life style....
For me about 6k/mth for me and wife based on current spending.
To hedge against inflation, make sure less cash put into bank and more on property.
I just need economical rice two meals per day can liao. super low maintenance. grew up like that, now like that, old also like that.
other thing I cant live without is internet and my smartphone.
that's all.
I cant stomach abalone and birds nest everyday even if you give me.
guess I indulged in an excess of super luxuries in my past life, now I don't really desire anything.
I just need economical rice two meals per day can liao. super low maintenance. grew up like that, now like that, old also like that.
other thing I cant live without is internet and my smartphone.
that's all.
I cant stomach abalone and birds nest everyday even if you give me.
guess I indulged in an excess of super luxuries in my past life, now I don't really desire anything.
carbuncle, since you have no children, why are you spending so little?
you planning on leaving your assets to your nieces and nephews?
phantom_opera
19-09-12, 10:59
I just need economical rice two meals per day can liao. super low maintenance. grew up like that, now like that, old also like that.
other thing I cant live without is internet and my smartphone.
that's all.
I cant stomach abalone and birds nest everyday even if you give me.
guess I indulged in an excess of super luxuries in my past life, now I don't really desire anything.
economic rice 20y ago cooked by Singaporeans for $1.50
10y ago cooked by Malaysians for $2.00 with Jagung oil
now cooked by mainland Chinese for $2.50 with palm oil
10y later cooked by robot for $3.00 with recycled oil
I wanna build bullets to buy my next shoebox.
oh I forgot to add.
shopping for shoebox also my only indulgence.
by then maybe robots will rent my shoebox. hmmm actually no, they just park there and switch off.
how I wish I can also just switch off from this world.... time to time.... like I doing now.
If you want to maintain current lifestyle with minor changes, I think a couple would need 8 to 10k a month based on following
1. Maid - 1k
2. Car - 1k (all expenses related to car + small savings for replacement car)
3. Health insurance - 600 to 800 depending on age.
4. House maintenance savings - 1k (not day-today type hor...eg; condo mthly payments, and home interior)
5. Holidays - 1k for one or two trips a year
The above already almost 5k. Then you have all the other day-today stuff, maybe another 3k a month?
you can call me the post mod hippie but I truly believe the best and most valuable things in life are FREE. and no money can buy....
true love
companionship (animals)
fresh air
nice breeze
fresh water
green spaces for exercise
free to use public internet
safe environment, low crime not no crime
free of natural disaster
efficient roads and connectivity
decent enough govt
so only left food and lodging is not free. but if come to extreme, there are temples and VWOs giving away free food.
I wonder, can someone really live on $0 in sg?
phantom_opera
19-09-12, 11:12
you can call me the post mod hippie but I truly believe the best and most valuable things in life are FREE. and no money can buy....
true love
companionship (animals)
fresh air
nice breeze
fresh water
green spaces for exercise
free to use public internet
safe environment, low crime not no crime
free of natural disaster
efficient roads and connectivity
decent enough govt
so only left food and lodging is not free. but if come to extreme, there are temples and VWOs giving away free food.
I wonder, can someone really live on $0 in sg?
I have encountered people who eat left-over food in Food Republic Suntec, young, strong built
now one can be poor but still live with dignity
I just need economical rice two meals per day can liao. super low maintenance. grew up like that, now like that, old also like that.
other thing I cant live without is internet and my smartphone.
that's all.
I cant stomach abalone and birds nest everyday even if you give me.
guess I indulged in an excess of super luxuries in my past life, now I don't really desire anything.
这位施主已看淡人间。独缺高人指点迷经， 得道指日可待。:D
namaste bro PN... so what if some guru dispensed the truth and enlightenment? is that an end? is that the Ultima?
life is a journey... enjoy it while it last, work a little, enjoy a little, help out when you can, rest when you cant, no expectations, no prejudice... easier said than done, still learning, that's why I continue on this journey.
If you want to maintain current lifestyle with minor changes, I think a couple would need 8 to 10k a month based on following
1. Maid - 1k
2. Car - 1k (all expenses related to car + small savings for replacement car)
3. Health insurance - 600 to 800 depending on age.
4. House maintenance savings - 1k (not day-today type hor...eg; condo mthly payments, and home interior)
5. Holidays - 1k for one or two trips a year
The above already almost 5k. Then you have all the other day-today stuff, maybe another 3k a month?
Your sum is more than my current total expenses of 4.5-5k so how can it be more when I retire leh..:banghead:
Same as carbuncle, I m a bit cat...so like to have home cook food rather than eating outside such as resturant and most of my spending is on my 2 kids education and food lor :rolleyes: .
namaste bro PN... so what if some guru dispensed the truth and enlightenment? is that an end? is that the Ultima?
life is a journey... enjoy it while it last, work a little, enjoy a little, help out when you can, rest when you cant, no expectations, no prejudice... easier said than done, still learning, that's why I continue on this journey.
Bro Carbuncle - Life is a journey indeed. If you reach enlightenment one day, it's the beginning of another journey in life.
When will the guru appears? Maybe someone with a third eye but not that 4 eyes bro BJ21 hor.
humor and the ability to laugh at oneself is truly a gift indeed
I met a friend two weeks back.
He is 59, earns around $270,000pa, just got cancer early this year.
He told me :
1. work is very stressful. Finish at 8pm everyday, dinner at 8:30pm earliest.
2. work for another two years, mainly the employer subsidise the medical cost and can get medical leave and build more saving
3. 3 children, youngest one is in the final u of uni.
4. got one property (should be around $2m), and $250,000 cash.
5. wife not working.
Once retire, he will trim all expenses, and keep life to the minimum.
I told him, after working for almost 40 years, treat himself better, work stress is a killer. The most important thing now is to grow his cash in fixed deposit to sustain his living and relax, don't let stress kill.
I look at him, left with little hair, weak...I felt so lousy for many days...
I told myself, I want to have a good quality life, need not spend lots of money, but must be happy and healthy...
lately, due to the hospitalisation of my mother for now 3 months, see so many sick people, I firmly believe, I want a good quality life....
I met a friend two weeks back.
He is 59, earns around $270,000pa, just got cancer early this year.
He told me :
1. work is very stressful. Finish at 8pm everyday, dinner at 8:30pm earliest.
2. work for another two years, mainly the employer subsidise the medical cost and can get medical leave and build more saving
3. 3 children, youngest one is in the final u of uni.
4. got one property (should be around $2m), and $250,000 cash.
5. wife not working.
Once retire, he will trim all expenses, and keep life to the minimum.
I told him, after working for almost 40 years, treat himself better, work stress is a killer. The most important thing now is to grow his cash in fixed deposit to sustain his living and relax, don't let stress kill.
I look at him, left with little hair, weak...I felt so lousy for many days...
I told myself, I want to have a good quality life, need not spend lots of money, but must be happy and healthy...
lately, due to the hospitalisation of my mother for now 3 months, see so many sick people, I firmly believe, I want a good quality life....
Show him Radha08 thread "One man's view on life"
http://forums.condosingapore.com/showthread.php?t=14898
Show him Radha08 thread "One man's view on life"
http://forums.condosingapore.com/showthread.php?t=14898
ya, I posted it in my FB
If you want to maintain current lifestyle with minor changes, I think a couple would need 8 to 10k a month based on following
1. Maid - 1k
2. Car - 1k (all expenses related to car + small savings for replacement car)
3. Health insurance - 600 to 800 depending on age.
4. House maintenance savings - 1k (not day-today type hor...eg; condo mthly payments, and home interior)
5. Holidays - 1k for one or two trips a year
The above already almost 5k. Then you have all the other day-today stuff, maybe another 3k a month?
I agree with your assessment, especially when one is raising kids and wants to own a car for family use as well as maintain a good standard of living.
buttercarp
19-09-12, 13:53
Yup, must enjoy life.
My needs are very simple.
Coming to this forum is enjoying life.
Able to eat simple and delicious food is enjoying life.
Visit showflat and imagine I am living in one is a form of de-stressing ( not like I am so stressed up).
No need fine dining.... actually I find fine dining stressful cos have to dress up, sit properly and eat with mouth closed.
I met a friend two weeks back.
He is 59, earns around $270,000pa, just got cancer early this year.
He told me :
1. work is very stressful. Finish at 8pm everyday, dinner at 8:30pm earliest.
2. work for another two years, mainly the employer subsidise the medical cost and can get medical leave and build more saving
3. 3 children, youngest one is in the final u of uni.
4. got one property (should be around $2m), and $250,000 cash.
5. wife not working.
Once retire, he will trim all expenses, and keep life to the minimum.
......
with high salary, and only 1 property and $250k, his expenditure is obviously very high. so isnt he enjoying life now?
work hard and play hard.
with high salary, and only 1 property and $250k, his expenditure is obviously very high. so isnt he enjoying life now?
work hard and play hard.
Aiyo. You didn't read carefully.
This friend of his has CANCER and worked until 8pm EVERYDAY.
Body weak already and occupied with work still got time to play meh?
If you're in his shoes, you call that enjoying life?
Aiyo. You didn't read carefully.
This friend of his has CANCER and worked until 8pm EVERYDAY.
Body weak already and occupied with work still got time to play meh?
If you're in his shoes, you call that enjoying life?
question: where did all his money go to?
question: where did all his money go to?
I think Laguna is the best person to know the answer.
But my guess is his money goes to mortgage and bringing up & providing his 3 children to complete their University. One of them still in Uni final year you know. He 's the giving tree.
I met a friend two weeks back.
He is 59, earns around $270,000pa, just got cancer early this year.
He told me :
1. work is very stressful. Finish at 8pm everyday, dinner at 8:30pm earliest.
2. work for another two years, mainly the employer subsidise the medical cost and can get medical leave and build more saving
3. 3 children, youngest one is in the final u of uni.
4. got one property (should be around $2m), and $250,000 cash.
5. wife not working.
Once retire, he will trim all expenses, and keep life to the minimum.
I told him, after working for almost 40 years, treat himself better, work stress is a killer. The most important thing now is to grow his cash in fixed deposit to sustain his living and relax, don't let stress kill.
I look at him, left with little hair, weak...I felt so lousy for many days...
I told myself, I want to have a good quality life, need not spend lots of money, but must be happy and healthy...
lately, due to the hospitalisation of my mother for now 3 months, see so many sick people, I firmly believe, I want a good quality life....
Laguna, thx for this reminder story, God bless your soul for sharing this in this forum :cheers4:
lately, due to the hospitalisation of my mother for now 3 months, see so many sick people, I firmly believe, I want a good quality life....
A few months ago, one of my friends in early 40s passed away in his sleep. We later learnt from the autopsy that he died of heart failure, which was shocking because he had no known heart condition previously. Shortly later, another friend in his late 30s was diagnose with lung cancer.
2 weeks ago, my accounts clerk only 20 years old girl was hopitalised with tuberculosis, and last week her father in his 50s passed away from cancer.
Nowadays, I feel that more people are getting serious illnesses at a younger age. Not sure if others feel the same way. The increasingly high living costs in SG will probably add more stress to many Singaporeans, especially the younger generation.
ya, life is short and very unpredictable....
....
2 weeks ago, my accounts clerk only 20 years old girl was hopitalised with tuberculosis, and last week her father in his 50s passed away from cancer.
.....
so as business owner, what did you do?
letting her go would be the cheapest and safest option for your business.
work so hard until when finally earn 'enough' ready to enjoy the fruits, no life to enjoy.
what for?
seen too many of such stories liao. and I m not even 40 yet. if I don't learn to slow down and enjoy life now I am stupid and deserve to die faster.
She is a first year full-time Uni student in accounts. She applied to work as a temp for her 3 month school holiday from mid June to mid Sept, to gain accounts work experience and earn money during school holiday.
Her contract has expired and her school starts this week, but she is at home on MC resting.
work so hard until when finally earn 'enough' ready to enjoy the fruits, no life to enjoy.
what for?
seen too many of such stories liao. and I m not even 40 yet. if I don't learn to slow down and enjoy life now I am stupid and deserve to die faster.
Oh..i thought you, carbuncle is uncle of late 40...:scared-4: ! Now than I know you are still young..:hell-hath-no-fury: :doh: !
She is a first year full-time Uni student in accounts. She applied to work as a temp for her 3 month school holiday from mid June to mid Sept, to gain accounts work experience and earn money during school holiday.
Her contract has expired and her school starts this week, but she is at home on MC resting.
Be careful those of you living around NUS/Clementi area. My nephew also caught TB a few months ago. He only commutes between home (Upp Thomson area) and school (NUS High). It is likely he caught it at/around sch or during one of the commutes (bus/MRT). My impression is that TB is on the rise....when we went for screening at the TB Control Unit next to TTSH, it was pretty crowded.
I think retirement amount is very subjective based on lifestyle and stage in life.
If you have no obligations towards children / education / loan then you should be able to live on as little as SGD 3k pm with either a reasonable weekly dining out lifestyle or else you eat at home but can own a compact car. Like my parents.
If you are in mid life with children and obligations then you will need 10k with a weekly dining out and with a car. Can go up to 20k depending on standards of lifestyle and when children do their Uni. But then that is hardly a retirement stage.
So nett, the vast majority of people cannot retire young.
When you are old and all obligations over you can live for maybe 3-5k, or maybe 10k for a comfortable lifestyle.
Anyone agree, disagree?
Don't just any how blame high living costs in SG lah!
It is because nowsdays people are too greedy, want good life, good food, don't exercise and keep fit, go clubbing that is the problem! They are earning more and spending even much more!
And please do not blame the government! Can only blame ownself! :banghead:
A few months ago, one of my friends in early 40s passed away in his sleep. We later learnt from the autopsy that he died of heart failure, which was shocking because he had no known heart condition previously. Shortly later, another friend in his late 30s was diagnose with lung cancer.
2 weeks ago, my accounts clerk only 20 years old girl was hopitalised with tuberculosis, and last week her father in his 50s passed away from cancer.
Nowadays, I feel that more people are getting serious illnesses at a younger age. Not sure if others feel the same way. The increasingly high living costs in SG will probably add more stress to many Singaporeans, especially the younger generation.
ya. earn so much but no brain to take care of your greatest asset - health. nobody is iron body.
condowe bro wat made you think I late 40s?
Yup, must enjoy life.
My needs are very simple.
Coming to this forum is enjoying life.
Able to eat simple and delicious food is enjoying life.
Visit showflat and imagine I am living in one is a form of de-stressing ( not like I am so stressed up).
No need fine dining.... actually I find fine dining stressful cos have to dress up, sit properly and eat with mouth closed.
Actually I like visitng show flats too but abit pai seh because if not really going to buy and you see the poor agent waiting sometimes for hours to reach his turn...then come and serve me. Anyone feels the same as me or maybe I should have thicker skin
Actually I like visitng show flats too but abit pai seh because if not really going to buy and you see the poor agent waiting sometimes for hours to reach his turn...then come and serve me. Anyone feels the same as me or maybe I should have thicker skin
That is why, I visit showflat after the peak sale period and during weekday where there is hardly anyone and only 2-3 agents on site.
Sad to know. Hourly rate is not very high for so many hours put in per day. It can be even worst if have to fly around.
I met a friend two weeks back.
He is 59, earns around $270,000pa, just got cancer early this year.
He told me :
1. work is very stressful. Finish at 8pm everyday, dinner at 8:30pm earliest.
2. work for another two years, mainly the employer subsidise the medical cost and can get medical leave and build more saving
3. 3 children, youngest one is in the final u of uni.
4. got one property (should be around $2m), and $250,000 cash.
5. wife not working.
Once retire, he will trim all expenses, and keep life to the minimum.
I told him, after working for almost 40 years, treat himself better, work stress is a killer. The most important thing now is to grow his cash in fixed deposit to sustain his living and relax, don't let stress kill.
I look at him, left with little hair, weak...I felt so lousy for many days...
I told myself, I want to have a good quality life, need not spend lots of money, but must be happy and healthy...
lately, due to the hospitalisation of my mother for now 3 months, see so many sick people, I firmly believe, I want a good quality life....
ya. earn so much but no brain to take care of your greatest asset - health. nobody is iron body.
condowe bro wat made you think I late 40s?
carb...uncle..uncle uncle lor..:D !
buttercarp
20-09-12, 00:18
That is why, I visit showflat after the peak sale period and during weekday where there is hardly anyone and only 2-3 agents on site.
Yup , me too, visit showflat after peak period.
And also if the agent has to specially go down to the showflat, then I tell them I will not be free.
Actually I like visitng show flats too but abit pai seh because if not really going to buy and you see the poor agent waiting sometimes for hours to reach his turn...then come and serve me. Anyone feels the same as me or maybe I should have thicker skin
actually i also like that. last time i asked them can i view the showflat on my own first before engaging them, they say cannot. want to be nice but rejected.
phantom_opera
20-09-12, 10:58
just wondering, for a person with income of 270k pa, how can he end up with only one property (ok la ... more ex than mine) and 250k cash?
I have more liquid assets than him but my income is no where near that level .. (perhaps if I am at his age lol)
He bought too many cars or lost his pants in stocks?! :banghead:
one ex-supplier just RIP yesterday at the age of 30+, left behind two young girls age at K1 and P3
I feel very very sad to see this young and hardworking guy died like this.
cherish......
Sometimes cannot ask these type of questions.
Got lawyer/doctors/etc fly aeroplane/CBT/bankrupt etc.
Money no enough for some.
Then got other frugal/good timing/lucky make it big in biz/investments/etc.
Most impt is must answer to self/conscience if you're happy/contented/etc then you're a success no matter who says what.
Better still if your're humble/gracious/well mannered.
And your offspring don't piss it off all ...on gambling/wine/kena con/women
just wondering, for a person with income of 270k pa, how can he end up with only one property (ok la ... more ex than mine) and 250k cash?
I have more liquid assets than him but my income is no where near that level .. (perhaps if I am at his age lol)
He bought too many cars or lost his pants in stocks?! :banghead:
one ex-supplier just RIP yesterday at the age of 30+, left behind two young girls age at K1 and P3
I feel very very sad to see this young and hardworking guy died like this.
cherish......
So sorry to hear that, so sad, so young...
I just need economical rice two meals per day can liao. super low maintenance. grew up like that, now like that, old also like that.
other thing I cant live without is internet and my smartphone.
that's all.
I cant stomach abalone and birds nest everyday even if you give me.
guess I indulged in an excess of super luxuries in my past life, now I don't really desire anything.
same same :D
:cheers5:
one ex-supplier just RIP yesterday at the age of 30+, left behind two young girls age at K1 and P3
I feel very very sad to see this young and hardworking guy died like this.
cherish......
what happen?:eek:
I 'reward' myself with the occasional kfc or ice cream.
I 'reward' myself with the occasional kfc or ice cream.
maybe try the kfc in malaysia..
much better than SG one
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