Lets talk about retirement

[Xgenre]

Originally Posted by fallen11

honestly
$8k a month for 2 pax, dont think about Switzerland. its not even enough to feed 2 pax even if you do mcdonalds for every single meal per month, at current prices. other than this, it sounds like a decent retirement plan.

It is not insufficient. They have not touched on their savings, excess cpf monies, rental income and other assets. Some kids even given token allowance

[Pictionary]

Making a furniture from scratch & using a frying pan and long chopsticks to cook a meal is the best way to slowly prepare young senior citizens to retire with grace unfortunately.

They could travel all around the world enjoying, the problem is the money to enjoy.

[jacky43]

Is only me. Singaporean and PR who has contributed 30 yrs of CPF should not have problems. A big group upgraded to EC and got stucked. Malaysian Chinese spend on tours and yrs later. $ not enough sold off their flats even pte property and down graded. FYI. Past 3 yrs I observed new neighbours who gave an impression. There were SME bosses ones aupon a time.

A society problem. Taxi drivers who born in Malaysia and settle down yrs ago. 30 yrs they did not contribute CPF. Now. Above 60s with heart attacks. They are in serious trouble. 1 told me. Off the records. Many taxi drivers collapse with heart attacks past 3 yrs.

[5wheels]

Originally Posted by VoicesWithin

Samurai Burger meal: $11.50
Lunch and dinner: $11.50 x 2 = $23
2 pax= $23 x 2 = $46
1 month = $46 x 30 = $1,380

Why not enough?

House paid. Kids independent. No car or car loan.

May be enough for now, but with the inflation 10 years later, difficult to say

[fallen11]

Originally Posted by Xgenre

It is not insufficient. They have not touched on their savings, excess cpf monies, rental income and other assets. Some kids even given token allowance

savings: better not touch it early. its for unforeseen circumstances. especially so if its used to generate passive income

cpf: only from 65 onwards. reckon will give 2k a mth per account holder (if hit FRS). if retire early, use that to cover inflation.

rental income: only if not living in sg or have > 1 property fully paid off. renting out in sg and living elsewhere is a very attractive option as rental income here is high and taxes are low.

Other assets: assume none unless he say he has. car is no asset

Kids: always assume they give $0 allowance to you. kids are not an investment. nowadays.... even for grown up kids, if they never ask a cent from you is considered very good already

[Pictionary]

2 sinkies & 1 jhb murder a jhk.

What is the main motivation behind the murder?
How the murder is committed?

It's in the chinese newspaper, saw the facebook, say her tofu being touched, then dun know how the murder is committed, so many people pouring their emotions inside. Best to sumarize here, dun feel like reading the same facebook again.

No toxic views, please comment this objectively. Just want to know the facts only as dun feel like writing to and knowing these people.

[sammyboyfor]

Originally Posted by Pictionary

2 sinkies & 1 jhb murder a jhk.

What is the main motivation behind the murder?
How the murder is committed?

It's in the chinese newspaper, saw the facebook, say her tofu being touched, then dun know how the murder is committed, so many people pouring their emotions inside. Best to sumarize here, dun feel like reading the same facebook again.

No toxic views, please comment this objectively. Just want to know the facts only as dun feel like writing to and knowing these people.

How is this related to retirement?

[Pictionary]

Originally Posted by sammyboyfor

How is this related to retirement?

Asking the elders who are not working full time to try to get the facts. Maybe u could try to get the facts?

Sammy sammy talk, nothing technical and constructive talking. If u want to talk with me, best that i refer you to english or chinese teacher. Everytime the talking is nothing useful. That why, sammyboy forum is dubious with dubious samsters where nothing much is learned despite any proper talks.

[Hin999]

Originally Posted by VoicesWithin

Nearing 55. So the Retirement topic is always close to heart.

I have kids. So the FIRE option is not available. Have to work till 65. I hear that ageing diseases like Alzheimer's, Parkinson and Dementia are on the rise. They say the best way to counter them is to stay active - or work. So, much as I dislike working till 65, I guess I just have to do it.

Post 65, my plans are simple:

CPF ERS wife: $2500
CPF ERS me: $2500
Rent: $3000
Total: $8k for 2 pax

With soaring inflation, I am not sure if this is enough?

Wife wants to work past 70. She loves her job. I can't say the same for mine.

The car has to go. COE is now $140k. The thought of it saddens me. Just have to learn to take public transport. Haiz.

Medical wise, both wife and me have H&S insurance. If warded, the insurance kicks in to cover the bill. Else, just hang out at polyclinics and spam our CHAS card.

Did consider retiring in Perth. I love that place. My rental property is there. But as I aged, I realize it is a piped dream. My family is here. My kids are rooted here. There is no way I can retire there. At best, I hope to shuttle between Perth, Singapore and Penang. Move every 3 months. If I can include Switzerland in the rotation, it will be a sweet bonus.

Job wise, I am trying downgrade to one that has as little stress as possible now. To ease into 65 y.o. To me, I am practical. One has to choose wisely. There is no point chionging all the way to 65 only to die of stress related illnesses before reaching it. I am sure we all have lost someone that went too early.

yes agree man, work till 65 is quite crazy, pretty interesting your choice of country, and isnt Perth expensive also?

[Pictionary]

There is a hardcore guy in hardware doing SW, doing crazy stuff, occupying the entire forum. You know why he can anyhow create thread and simply reply rubbish to people's thread? Bec he is the owner of the company, even he can become sales director too.

Please know that in life, you cannot conquer everything from security, software programming, electronics, sales etc. Everything has their unique differences and cannot be compared. How come in overseas like USA or europe ppl can use deadly tools and do software programming and is normally accepted, whereas in Singapore, it is not accepted with wide criticisms and disagreements?

Sometimes, use english to flip prata nowadays is the norm, very impressed by how sales directors can talk multiple languages and handle multiple projects. If director is female and chio, is an advantage, can anyhow suck ppl's dick.

[chinacuntlover]

GST 1st day anniversary. 2023 increase to 8%, 2024 to 9% translate p.a.p.)
Transport fare increase, hawker food price increase, electricity tariff go up.

Take for granted no housing loan to pay off and no car liability, left with generally food cost (plus if not die, have to stay healthy - die also must exercise lol)

Food cost need to be managed. No restaurant, not even coffeeshop. Nowaday tea-o cost $1 at hawker centre.
Why not cook simple meal at home. Think how those breadwinner with at least 2 kids survive on a $1k+ monthly salary. Sad but need to face reality. Follow the foreign worker (yup, we are becoming foreign citizens with the import of so many millionaires, least to say the CECA consequence), pour curry sauce over white rice and call it a meal.

NTUC fairprice is not the lowest priced supermart. Thanks to Value$ and Scarlett, there are cheaper alternative out there.
E.g 康师傅 drink sold at 50c at Shengsiong and Scarlet, yet NTUC "fairprice" offered 2 bottles for $2!!

NTUC house brands are sold marginally lower than branded. Go Europe, especially Germany, the supermart house brands are sold much lower than SG.

Why govt is not controlling coffeeshop sale, with exorbitant million dollar price tag, how food expect to be low cost??

Living digital cost - lowest BB and SIM plan - so can still log in to Sammyboyforum lol - many threads to read to pass time, especially Samsters bickering over nitty gritty things

[superstiffy]

Retirement?

Just 2 words...

Leave Singapore

[fallen11]

Originally Posted by superstiffy

Retirement?

Just 2 words...

Leave Singapore

leave
but
make income from singapore
singapore is a good place to make money

[Shadow_warrior]

Originally Posted by Pictionary

There is a hardcore guy in hardware doing SW, doing crazy stuff, occupying the entire forum. You know why he can anyhow create thread and simply reply rubbish to people's thread? Bec he is the owner of the company, even he can become sales director too.

Please know that in life, you cannot conquer everything from security, software programming, electronics, sales etc. Everything has their unique differences and cannot be compared. How come in overseas like USA or europe ppl can use deadly tools and do software programming and is normally accepted, whereas in Singapore, it is not accepted with wide criticisms and disagreements?

Sometimes, use english to flip prata nowadays is the norm, very impressed by how sales directors can talk multiple languages and handle multiple projects. If director is female and chio, is an advantage, can anyhow suck ppl's dick.

you have an interesting perspective, please share more so I can share my "thoughts" with you.

[ot3338806]

Experience retirement bliss in Asia's diverse tapestry. From the tranquility of Japanese gardens to the vibrant markets of Vietnam, each country offers unique charm. Embrace a rich cultural tapestry, indulge in delectable cuisine, and embark on a fulfilling journey in your golden years across this continent of wonders. 🌏🌅 #RetireInAsia