How much do u need for retirement - HSBC survey

[phantom_opera]

(綜合報道)(星島日報報道)通脹猛於虎，百物騰貴，樓價高企，即使港人想為退休生活提早盤算，做好儲蓄準備都面對困難。據滙豐一項關於退休儲蓄調查的報告顯示，港人每年平均需要逾43萬元的家庭收入，才可以確保舒適的退休生活。
　　調查報告在全球15個國家和地區作出調查，受訪人數超過1.5萬名，香港地區超過1000人。報告指出，亞洲受訪者，平均而言表示每年需要32萬元，以維持舒適的退休生活，但香港受訪者表示，他們每年平均需要43.6萬元的家庭收入，才可確保舒適的退休生活，較亞洲平均值高出逾36%。
　　調查報告顯示，香港受訪者預期他們的退休生活為期17年，但退休儲蓄只夠維持11年，將有6年的缺口風險

For Hong Kong - 430,000 HKD ... about 70,000 SGD per year
Average Asians - 320,000 HKD ... about 50,000 SGD per year

Hong Kongers estimate their retirement period is 17y on average

[minority]

all depends on life style....

[phantom_opera]

all depends on life style....

this survey is done by HSBC for comfortable lifestyle

welll HSBC's definition of comfortable is really quite atas ;)

[minority]

this survey is done by HSBC for comfortable lifestyle

welll HSBC's definition of comfortable is really quite atas ;)


HSBC needs it to be atas ;) if not how to sell service?

[mcmlxxvi]

amounts about right for sg. basic lifestyle

[ysyap]

amounts about right for sg. basic lifestyle$50k a year = $4.xk a month... its like not just basic a lifestyle. That salary can feed a couple with one kid easily... :)

[phantom_opera]

$50k a year = $4.xk a month... its like not just basic a lifestyle. That salary can feed a couple with one kid easily... :)
Sure or not no need car and maid and tuition?
Car is 1kpm even if 2nd hand
Maid 1kpm normal
Insurance could be 400 pm
Tuition leh?

[sherlock]

$4k is hardly enough.... 1 couple live simply ok but definitely not with kids.
Car must fully paid.

[phantom_opera]

In 1990s 4kpm enough, after 2006 u need 5kpm now u need 6kpm if having one kid in primary

I am sure many will agree with me

[PN]

From My Paper 我报

[sherlock]

In 1990s 4kpm enough, after 2006 u need 5kpm now u need 6kpm if having one kid in primary

I am sure many will agree with me

100% agree!

[PN]

Based on the survey by HSBC, retire in Australia need $6222 vs SG $5033.

Retire in Malaysia only $2600.
Hmmm........... but ..............

[ysyap]

Sure or not no need car and maid and tuition?
Car is 1kpm even if 2nd hand
Maid 1kpm normal
Insurance could be 400 pm
Tuition leh?Lol... car 1kpm ok

Maid about $700/mth.

During retirements, you should have finished paying most of the insurance bill and can even enjoy paybacks for some policies.

Tuition for that kid? When retirement, parent already 65, if kid still needs tuition, then its really really rare.

Works out to be about $1.7k. Remaining $2.8k is for food and bills plus some savings (assume that house already fully paid or passed on to child by retirement, otherwise its poor management). Then child should be working and self sufficient by then? Save maybe $300/mth for holiday twice a year? Basic lifestyle ah... not extravagant one.

[ysyap]

Based on the survey by HSBC, retire in Australia need $6222 vs SG $5033.

Retire in Malaysia only $2600.
Hmmm........... but ..............Yup... $5k is about right for basic lifestyle living... :spliff:

[heroes]

Lol... car 1kpm ok

Maid about $700/mth.

During retirements, you should have finished paying most of the insurance bill and can even enjoy paybacks for some policies.

Tuition for that kid? When retirement, parent already 65, if kid still needs tuition, then its really really rare.

Works out to be about $1.7k. Remaining $2.8k is for food and bills plus some savings (assume that house already fully paid or passed on to child by retirement, otherwise its poor management). Then child should be working and self sufficient by then? Save maybe $300/mth for holiday twice a year? Basic lifestyle ah... not extravagant one.

If no car no maid.. Maybe sgd3k is enough.. Actually i hv plan to retire in spore. Some friends said that spore is too tiny.. But i really like spore.. Good air quality, parks, food, mrt, good doctor...

[Fisherman]

Yup... $5k is about right for basic lifestyle living... :spliff:

No car and no maid should be pretty comfortable.;)

[thomastansb]

The survey is lousy. It is not how much you need to retire. It is what you need for retirement. Having an absolute amount is stupid. 20 years ago, 1k should be good for retirement. Now, 1k is barely enough. But 5k is nonsense.

Anyway, I don't like HSBC personally. Their "survey" shows how lousy their study is being done.

[roly8]

$50k a year = $4.xk a month... its like not just basic a lifestyle. That salary can feed a couple with one kid easily... :)

$4k is pretty comfortable level.. :o

for me la..

can travel + still got $$ left to invest still.. :D

[DC33_2008]

It also depends at what age ones retire. You will need more if you are younger, ie 50 as compared to 65.

[teddybear]

If Basic life style, $2k per month should be enough for 2 lah.
A rough calculation:
Food = $800
Utilities = $200
Miscel expenses = $500
Still left $500... :p



$4k is hardly enough.... 1 couple live simply ok but definitely not with kids.
Car must fully paid.

[heroes]

It also depends at what age ones retire. You will need more if you are younger, ie 50 as compared to 65.

Agree.. 3-4k is pretty good for today. For ideal retirement for today i think is around 5k. 3-4k for expenses n 1-2k for re invest.

[roly8]

remember that medical cost in SG is raising..

so, be prepare to pay shocking medical bill in years to come:o

of course, best advice is watch your diet & stay healthy..

once you are down... your pocket also get one big hole :hell-hath-no-fury:

[sherlock]

If Basic life style, $2k per month should be enough for 2 lah.
A rough calculation:
Food = $800
Utilities = $200
Miscel expenses = $500
Still left $500... :p

Wa, u super thrifty :cool: like this no enjoyment liao. No life :banghead:

[Shoeboxsupporter]

From My Paper 我报

So if SIngaporen relocate to JB Iskandar, they can extend their retirement period to 18 years.......:tongue3:

[teddybear]

I say "basic life style" right?
You are right, like that no enjoyment no life. Thanksfully that is not my life style..... :p


Wa, u super thrifty :cool: like this no enjoyment liao. No life :banghead:

[Shanhz]

talk about "how much you need for retirement" is waste time one lah.. 一种米养百种人. do your own calculatoin and work towards it.

[minority]

$4k is hardly enough.... 1 couple live simply ok but definitely not with kids.
Car must fully paid.


This is to retire. means kids grow up. no need maid. maybe no need car.

[phantom_opera]

basic retirement in Europe ... it is probably equals to min wage lol

http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/02/20130220_wages.jpg

[dtrax]

If Basic life style, $2k per month should be enough for 2 lah.
A rough calculation:
Food = $800
Utilities = $200
Miscel expenses = $500
Still left $500... :p

Do away car, do away maid, possible. If want artas abit upz another 2k p.m for travel expense. So total 4k-5k still pretty comfortable? Of cse muz also consider medical, insurance...

[minority]

also depends this hsbc report is retire when? now? of in 2030 or in 2060 to 2090?

it makes a difference.

[ysyap]

remember that medical cost in SG is raising..

so, be prepare to pay shocking medical bill in years to come:o

of course, best advice is watch your diet & stay healthy..

once you are down... your pocket also get one big hole :hell-hath-no-fury:Get insurance coverage for retirement medical expenses. Safer. A simply procedure can easily set you back $100k++. Wow! Insurance is the way. If its too late, then must really stay healthy to the best of one's ability. :cheers1: Drink more water...

[roly8]

Get insurance coverage for retirement medical expenses. Safer. A simply procedure can easily set you back $100k++. Wow! Insurance is the way. If its too late, then must really stay healthy to the best of one's ability. :cheers1: Drink more water...

insurance cost increase as you age..

the cost is not many old people can afford :o

[phantom_opera]

insurance cost increase as you age..

the cost is not many old people can afford :o

yes, after 52 or something like that, premium goes up exponentially following probability of critical illness / hospitalization

[ysyap]

insurance cost increase as you age..

the cost is not many old people can afford :oYup... very expensive so for those who still qualify, quick go get insurance. I just got insurance for me and my family... I feel hospitalization insurance is probably the most important coverage one requires... ;)

[roly8]

Yup... very expensive so for those who still qualify, quick go get insurance. I just got insurance for me and my family... I feel hospitalization insurance is probably the most important coverage one requires... ;)

live with no fear, bro..
;)

[eng81157]

live with no fear, bro..
;)

and you shall live with no money....... :scared-5: :scared-5:

[Shanhz]

Yup... very expensive so for those who still qualify, quick go get insurance. I just got insurance for me and my family... I feel hospitalization insurance is probably the most important coverage one requires... ;)

indeed. if anyone have NO MONEY but only enough for ONE policy, this is the one to buy

[ysyap]

indeed. if anyone have NO MONEY but only enough for ONE policy, this is the one to buyYes yes yes.. keep healthy, drink more water :cheers1: and exercise when possible. The rest is not within one's control le. :rolleyes:

[eng81157]

Yes yes yes.. keep healthy, drink more water :cheers1: and exercise when possible. The rest is not within one's control le. :rolleyes:

have a balanced diet too, and be balanced in all things