Talking Point >>> Is your CPF enough for retirement?

[awhtc]

7 hours ago, Sdf4786k said:

Have u look at the prices of salad ? Not cheap either

Vegetables from the wet market should be more than sufficient and healthy enough.

[Kopites]

https://investmentmoats.com/uncategorized/singapore-savings-bonds-ssb-july-2022-highest-long-yield/

2.71 technically higher than OA 2.5.

[Spidey10]

On 4/16/2022 at 5:58 PM, awhtc said:

Vegetables from the wet market should be more than sufficient and healthy enough.

think have to extend retirement by 2 more years!! damn...

[Throttle2]

No need to extend lah.   Life so unpredictable.   World events so crazy, we never know how things will flip in a few months. 
As long as planned already, probably better to stick to the plan and move.   
must tighten belt further otherwise how to pay $5k for my Road Tax…….

[Throttle2]

Now that i am 1M49 , what next?

perhaps 1.5M55 ?

if i go mad and continue to work until 65, confirm 2M65…..hhhhmmmmmm…….

better retire at 55 lah, i think

Edited June 3, 2022 by Throttle2

[awhtc]

My father retired early at around 55 years old but I see him so bored everyday.  He will sit in the coffeeshop in the morning and library in the afternoon.  He is fortunately on pension which also takes care of bulk of the medical expenses.

My mother on the other hand is enjoying her part time work as it gives her some purpose in life and she likes to see her bank account growing.  She does not even need to touch her CPF payout i.e. CPF put into her bank account and I help her transfer back to her RA.

A happy retirement is like chasing a pot of gold at the end of a rainbow.  I would rather continue working part time at a leisurely pace which is akin to enjoying the rainbow.  I can either work for someone or for myself and I don't think I need to touch my CPF either.

[Throttle2]

4 hours ago, awhtc said:

My father retired early at around 55 years old but I see him so bored everyday.  He will sit in the coffeeshop in the morning and library in the afternoon.  He is fortunately on pension which also takes care of bulk of the medical expenses.

My mother on the other hand is enjoying her part time work as it gives her some purpose in life and she likes to see her bank account growing.  She does not even need to touch her CPF payout i.e. CPF put into her bank account and I help her transfer back to her RA.

A happy retirement is like chasing a pot of gold at the end of a rainbow.  I would rather continue working part time at a leisurely pace which is akin to enjoying the rainbow.  I can either work for someone or for myself and I don't think I need to touch my CPF either.

Thats exactly not the kind of retirement, anyone wants..   

when retired, one must have things to pursue with time in hands.  
 

 

[Alfc]

At that stage, if one intend to spend time together with other half, also have to make sure both are aligned in what they want to pursue. If one is committed to some sort of work (freelance or part time), cant really go off as and when wanted; while the other wants to travel the world and seven seas, then may end up each leading their own individual life. 

So end of the day, money is just one (albeit important) consideration.

 

 

[Voodooman]

48 minutes ago, Throttle2 said:

Thats exactly not the kind of retirement, anyone wants..   

when retired, one must have things to pursue with time in hands.  
 

 

What are your plans? 

Travel once a month or once every 2 months? 

Maybe part time non executive directors? 

Edited June 4, 2022 by Voodooman

[Throttle2]

13 minutes ago, Voodooman said:

What are your plans? 

Travel once a month or once every 2 months? 

Maybe part time non executive directors? 

Yes. Travelling is certainly one of those things.

perhaps stay at a place for a month or two very leisurely then come back. 

Just tinkering with my own things.  

making investment decisions will still take up a bit of time although the intention is to reduce that too.

More physical activity, play more tennis, however possible.  

no work, nothing which requires me to be at the call of something….  😁

People think that stopping work is easy, but reality is that it isnt.

how about you?

Edited June 4, 2022 by Throttle2

[Voodooman]

4 hours ago, Throttle2 said:

Yes. Travelling is certainly one of those things.

perhaps stay at a place for a month or two very leisurely then come back. 

Just tinkering with my own things.  

making investment decisions will still take up a bit of time although the intention is to reduce that too.

More physical activity, play more tennis, however possible.  

no work, nothing which requires me to be at the call of something….  😁

People think that stopping work is easy, but reality is that it isnt.

how about you?

Yes, the ultimate aim is to take control of one's time and yet have a purpose (still looking) during retirement years. I don't mind working for longer if that option is available but I am no towkay. I also find it really hard to totally stop working, it will have to be phased in over several years. I figure i will need more hobbies and perhaps join more interest groups.

The plan is to be out of Singapore  half the time, rent a place for 1-2 months at each location and live like a local but I think I will miss my bed after 2 weeks. 😂😂😂

Yes, more passive in investment in 5-10 years, more global and FI funds (if possible). 

 

[Throttle2]

Cheers to our big day and future adventures !!!

[awhtc]

Singapore core inflation jumps to 13-year high of 3.6% in May amid rising food prices

SINGAPORE - Core consumer prices in Singapore surged to a 13-year high last month led by rising food prices.

Core inflation - which excludes accommodation and private transport costs - jumped to 3.6 per cent in May on a year-on-year basis, up from 3.3 per cent in April.

May's inflation is in line with the 3.6 per cent rise forecast by economists in a Bloomberg poll, It is also the highest since December 2008, when core inflation hit 4.2 per cent.

https://www.straitstimes.com/business/economy/singapore-core-inflation-jumps-to-13-year-high-in-may-amid-rising-food-prices

[awhtc]

Inflation is now higher than CPF interest rate...

[Throttle2]

9 minutes ago, awhtc said:

Singapore core inflation jumps to 13-year high of 3.6% in May amid rising food prices

SINGAPORE - Core consumer prices in Singapore surged to a 13-year high last month led by rising food prices.

Core inflation - which excludes accommodation and private transport costs - jumped to 3.6 per cent in May on a year-on-year basis, up from 3.3 per cent in April.

May's inflation is in line with the 3.6 per cent rise forecast by economists in a Bloomberg poll, It is also the highest since December 2008, when core inflation hit 4.2 per cent.

https://www.straitstimes.com/business/economy/singapore-core-inflation-jumps-to-13-year-high-in-may-amid-rising-food-prices

So low, no problem lah

[Starry]

55 minutes ago, awhtc said:

Singapore core inflation jumps to 13-year high of 3.6% in May amid rising food prices

SINGAPORE - Core consumer prices in Singapore surged to a 13-year high last month led by rising food prices.

Core inflation - which excludes accommodation and private transport costs - jumped to 3.6 per cent in May on a year-on-year basis, up from 3.3 per cent in April.

May's inflation is in line with the 3.6 per cent rise forecast by economists in a Bloomberg poll, It is also the highest since December 2008, when core inflation hit 4.2 per cent.

https://www.straitstimes.com/business/economy/singapore-core-inflation-jumps-to-13-year-high-in-may-amid-rising-food-prices

Note the key sentence in underlined bold 

[inlinesix]

59 minutes ago, awhtc said:

Singapore core inflation jumps to 13-year high of 3.6% in May amid rising food prices

SINGAPORE - Core consumer prices in Singapore surged to a 13-year high last month led by rising food prices.

Core inflation - which excludes accommodation and private transport costs - jumped to 3.6 per cent in May on a year-on-year basis, up from 3.3 per cent in April.

May's inflation is in line with the 3.6 per cent rise forecast by economists in a Bloomberg poll, It is also the highest since December 2008, when core inflation hit 4.2 per cent.

https://www.straitstimes.com/business/economy/singapore-core-inflation-jumps-to-13-year-high-in-may-amid-rising-food-prices

"CPI-All Items inflation rose to 5.6% y-o-y in May, from 5.4% in April."

For food, it increases from 4.1% (April) to 4.5% (May)

 

[Windwaver]

On 6/4/2022 at 9:46 AM, awhtc said:

My father retired early at around 55 years old but I see him so bored everyday.  He will sit in the coffeeshop in the morning and library in the afternoon.  He is fortunately on pension which also takes care of bulk of the medical expenses.

My mother on the other hand is enjoying her part time work as it gives her some purpose in life and she likes to see her bank account growing.  She does not even need to touch her CPF payout i.e. CPF put into her bank account and I help her transfer back to her RA.

A happy retirement is like chasing a pot of gold at the end of a rainbow.  I would rather continue working part time at a leisurely pace which is akin to enjoying the rainbow.  I can either work for someone or for myself and I don't think I need to touch my CPF either.

Luckily they are in good health, a lot of elderlies are not and sandwiched class are badly affected.