$$$$ to prepare for retirement?

[CondoWE]

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 ! Dun know true or not ?

Passive income? 1/3 of the current income !

Please kindly chip in your comments .. !

[chiaberry]

100 mill per person?

Tio bo.

What kind of lifestyle are you talking about???

[phantom_opera]

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

[CondoWE]

100 mill per person?

Tio bo.

What kind of lifestyle are you talking about???

Sorry..typo..it's 1 mil..

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..

[Laguna]

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....

[stl67]

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.

[carbuncle]

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.

[hopeful]

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]

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

[carbuncle]

I wanna build bullets to buy my next shoebox.

oh I forgot to add.

shopping for shoebox also my only indulgence.

[carbuncle]

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.

[insigina]

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?

[carbuncle]

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]

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

[carbuncle]

now one can be poor but still live with dignity

[PN]

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。

[carbuncle]

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.

[CondoWE]

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..

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 .

[PN]

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.

[carbuncle]

humor and the ability to laugh at oneself is truly a gift indeed

[Laguna]

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....

[PN]

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

[Laguna]

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

[seletar]

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]

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.

[hopeful]

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.

[PN]

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?

[hopeful]

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?

[PN]

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.

[HP65]

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