Fuelsaver Supercharged September 1, 2018 Share September 1, 2018 Insanely high paid and still have pension. The best job in the world. Cant beat them? Join them! Thats what always advise my 11 yo.How to join? Got Lobang? :-) Reading a book last night which stated that in 1968 the Singapore Cabinet was the lowest paid of any similar in the world. Just stating not implying anything. Then self justification n greed sets in, and the rest is history.. Given the rate I m going now, no chance for a comfy retirement except to MY. N yes I q for toto every week hahaha. N I for one strongly disagree for ABSD to be applied to locals ( I dun care if u tax foreigners 50 or 100%). I still think to be able to buy a second property to collect passive income while I m still striving hard is a bonus (let our $ work for us) and somehow our G prefers to keep the working ants working and deprive many such an options and there is people thinking G did this for our goodness sake I will think I m the typical middle class Singaporean and think many is in similar situations but prefer to believe in G and their expert planning .... Agree with u on the absd partHow else do the govt expect ppl to plan for retirement w stagnant or trimmed salary, coupled with rising cost of food, utilities and medical fees? ↡ Advertisement Link to post Share on other sites More sharing options...
Adrianli Hypersonic September 3, 2018 Share September 3, 2018 How much do we really need for retirement? 1 million? Link to post Share on other sites More sharing options...
Alfc 5th Gear September 3, 2018 Share September 3, 2018 Depends on individual expectation. Simple life $50 daily or $1.5k monthly is comfortable, excluding medical and luxury items like tours of cos. No one knows when is end of road so factored in some buffer or side income if u can. The other big ticket item is if you had been taking so good care of your children by giving them headstarts that they are so used that you may have to continue to do so until you die - overseas study, wedding "loan", housing down payment "loan", new car "loan", Reno "loan". And for these get no contribution back cos they say they got children to give headstart to and "you dun need it". Irony of life... Link to post Share on other sites More sharing options...
Mockngbrd Supersonic September 3, 2018 Share September 3, 2018 14%??? I thot at least 70% Link to post Share on other sites More sharing options...
BanCoe Hypersonic September 3, 2018 Share September 3, 2018 (edited) Boils down to again 1) healthy.... then can go ahead and time pass and work (albeit at a slower pace and pay cut is fine too with shorter working hours) ... it keeps the WD40 in the brain lubricated... the more problems / challenges there are to solve the better and more alert the brain becomes; so I think if people want to collect cartons/hawker centre cleaners or office cleaning/security ..... its fine ..... Remember an idle mind is an evil mind no matter what....... I know one retiree in my neighbourhood ..... whole day do nothing but complain to authorities about cleaners/illegal carparking/ chats up everyone's maids by talking about their employers .... until everyone now also avoids him.....but the guy got money/properties!! 2) retirement age........ we are clueless as to what it really is as the whole world retirement age is also now a wide berth between 55 to 67... everywhere we go in Singapore we see people in late 60's still working 3) some self employed have to let go their businesses (mom n pop type) close shop as kids are not interested and not in prestigious establishments that they would be proud of 4) lust for more money hoarding... these are the ones whom have acquired properties and good stock dividends or shares which have appreciated in value and doing well and healthy by whichever Gods grace 5) Age of the children to upkeep.... due to today's enviro or trend... many get married late and have kids late.... so there is a need to work more longer no matter what so that at least the kids education is taken off 6) Single bread earner...... what happens is one of the spouse falls ill (say stroke ) and instead of dual income it becomes single income.. or some other debillitating diseases or condition requiring long term care Social circles..... very important to have good friends in your same age group or relatives.... without this social net..... mind goes berserk... and of sports (relaxed ones like yoga) 7) Move to Malaysia or any other country one is familiar with........ now some fancy it/ sound trendy too...... go ahead try it.....see how it goes..... it might be suitable for some thinking you get a bang for your buck.... thinking its a quick way out to retire and hopefully collect some rent in the Singapore home to set off expenses there.... ........... the parameters/situations are really wide..... keep healty and stay fit.... no one glove fits all.... ........ and finally there are many whom are just workaholics ....... they cannot just get out of the momentum..... its a sudden withdrawal symtom blues...... akin to having driving in Malaysia at 110km+ and suddenly have to drive at 80/90km/hr sharing my 2cents Edited September 3, 2018 by BanCoe 2 Link to post Share on other sites More sharing options...
Throttle2 Supersonic September 3, 2018 Share September 3, 2018 Depends on individual expectation. Simple life $50 daily or $1.5k monthly is comfortable, excluding medical and luxury items like tours of cos. No one knows when is end of road so factored in some buffer or side income if u can. The other big ticket item is if you had been taking so good care of your children by giving them headstarts that they are so used that you may have to continue to do so until you die - overseas study, wedding "loan", housing down payment "loan", new car "loan", Reno "loan". And for these get no contribution back cos they say they got children to give headstart to and "you dun need it". Irony of life... Agree that it is dependant on individual needs And simple life may be enough But realistically simple life today is no longer simple life in the 90s Today if we live on $50 a day, life is in the slumps Try it if you dont believe me. Just for a month. $50 give and take ============== Daily cheap meals $8 x 3 =$24 Comms $5 Transport $5 Utilities $5 Entertainment $10 You guys really dont know what you are in for!!! $1500 per month ? Retire? Good luck! Link to post Share on other sites More sharing options...
Jman888 Moderator September 3, 2018 Share September 3, 2018 Agree that it is dependant on individual needs And simple life may be enough But realistically simple life today is no longer simple life in the 90s Today if we live on $50 a day, life is in the slumps Try it if you dont believe me. Just for a month. $50 give and take ============== Daily cheap meals $8 x 3 =$24 Comms $5 Transport $5 Utilities $5 Entertainment $10 You guys really dont know what you are in for!!! $1500 per month ? Retire? Good luck! your expenses too high Link to post Share on other sites More sharing options...
BabyBlade Internal Moderator September 3, 2018 Share September 3, 2018 Only 1 in 5 feels parents have enough retirement savings: Poll https://www.straitstimes.com/business/only-1-in-5-feels-parents-have-enough-retirement-savings-poll?&utm_source=facebook&utm_medium=social-media&utm_campaign=addtoany Young people in Singapore worry their parents do not save enough for retirement – with good reason: Survey https://www.straitstimes.com/business/economy/singapore-youths-worry-their-parents-are-not-saving-enough-for-retirement-with-good?utm_campaign=Echobox&utm_medium=Social&utm_source=Facebook&xtor=CS1-10#Echobox=1535358124 New thread. The one you posted in was 7 years ago. 1 Link to post Share on other sites More sharing options...
Enye Hypersonic September 3, 2018 Share September 3, 2018 Agree that it is dependant on individual needs And simple life may be enough But realistically simple life today is no longer simple life in the 90s Today if we live on $50 a day, life is in the slumps Try it if you dont believe me. Just for a month. $50 give and take ============== Daily cheap meals $8 x 3 =$24 Comms $5 Transport $5 Utilities $5 Entertainment $10 You guys really dont know what you are in for!!! $1500 per month ? Retire? Good luck! ermmm...i peasant live on less than $500 per month even when i am working $1500 per month is luxury living for me already Link to post Share on other sites More sharing options...
Ct3833 Supersonic September 3, 2018 Share September 3, 2018 One in Five???? So high rate? I would think it should be 1 in 100 Reality is 1 in 1000 1 in 5 translates into 20%. If the top 20% higher income earners could not afford to retire comfortably, then the government will have a much bigger issue to worry about . Link to post Share on other sites More sharing options...
Throttle2 Supersonic September 3, 2018 Share September 3, 2018 How much do we really need for retirement? 1 million? Depends on when you start retiring. If you retire at 75 with no debt, yes maybe $1mil Link to post Share on other sites More sharing options...
Adrianli Hypersonic September 3, 2018 Share September 3, 2018 Depends on when you start retiring. If you retire at 75 with no debt, yes maybe $1mil Jialat. How many able to save $1million at retirement? Dont think my in-laws or my uncles and aunties will have that kind of money and they all already retired. Link to post Share on other sites More sharing options...
Buadongdong Twincharged September 3, 2018 Share September 3, 2018 The sample size interviewed is a bit too small leh.. Doesn't depict a realistic representation of the situation. "This is according to a Nielsen research commissioned by insurance cooperative NTUC Income and released on Monday (Aug 27), which covered more than 400 parents aged between 30 and 55, and some 200 youth between the ages of 19 and 25." 3 Link to post Share on other sites More sharing options...
Enye Hypersonic September 3, 2018 Share September 3, 2018 Jialat. How many able to save $1million at retirement? Dont think my in-laws or my uncles and aunties will have that kind of money and they all already retired. no jialat lah...boss got $15M inheritance coming Link to post Share on other sites More sharing options...
Throttle2 Supersonic September 3, 2018 Share September 3, 2018 1 in 5 translates into 20%. If the top 20% higher income earners could not afford to retire comfortably, then the government will have a much bigger issue to worry about . Abo then Link to post Share on other sites More sharing options...
Adrianli Hypersonic September 3, 2018 Share September 3, 2018 no jialat lah...boss got $15M inheritance coming Never count the chickens before they are hatched. Link to post Share on other sites More sharing options...
BanCoe Hypersonic September 3, 2018 Share September 3, 2018 Got PAP Cubs branch???? ... they need to tap talent at the formative years.... this will be the 7G cohort if start now "immersion coaching" Insanely high paid and still have pension. The best job in the world. Cant beat them? Join them! Thats what always advise my 11 yo. Link to post Share on other sites More sharing options...
Ct3833 Supersonic September 3, 2018 Share September 3, 2018 (edited) Jialat. How many able to save $1million at retirement? Dont think my in-laws or my uncles and aunties will have that kind of money and they all already retired.$1 million has $1 million retirement lifestyle while those who have less saving have a difference lifestyle. Human being is adaptable, so it doesnt mean people cannot retire without $1 million of saving or they will be starved to death. In fact many do not have a million by the time they retire. And to some, $1million is only about just enough for a couple to retire comfortably, and they will have to make some lifestyle change in order to ensure the saving could last them till they leave this world. In my view, a person will only be able to enjoy and spend his money during the first 10 to 15 years after retirement , any age beyond that, his taste bud change, drink wine also become tasteless , food becomes not so tastety, travel cannot go too far or cant even walk, that is when he will cut down on spending. So the spending expenses after retirement is not linear. How much is enough is subjective. Of course one needs to have some saving for retirement. Edited September 3, 2018 by Ct3833 ↡ Advertisement 1 Link to post Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now