How much is enough for retirement in Singapore?

[starlight1968sg]

Top 10 Things Everyone Should Know About Saving for Retirement

10. How Much You Should Save for Retirement
9. Even Just Thinking About Retirement Can Help You Save More
8. There Are Tons of Tools to Easily Plan and Manage Your Retirement
7. Choose the Right Retirement Account Type
6. Compounding Is So Powerful It's Almost Magical
5. Don't Miss Out on an Employer Match
4. Look Out for Fees First
3. Automate Your Savings—and Stick with a Plan
2. Getting Started Is Easier Than You Might Think
1. The Best Time to Start Investing Is Now
source: http://lifehacker.com/top-10-things-eve ... 1687055516

[shawnlim88]

When your passive income = monthly expenses * 3

you can retire.

[starlight1968sg]

shawnlim88:

When your passive income = monthly expenses * 3

you can retire.

I will be very glad if my passive income = monthly expenses/3. :oops:

[kyith]

shawnlim88:

When your passive income = monthly expenses * 3

you can retire.

You can say that, but it is likely the idea of THAT as your only target is going to demoralize you from even starting out at all.

Many gave up when they are in their 20s, when they form their family with only $1000 left in savings and telling them they need $1 mil or $2 mil like what most voted here because it is just so so so so far away.

They don't even feel like getting started. The grind is hard.

[kyith]

The high level idea is always this two formulas:

[quote]Wealth Fund required in FI = (Next year’s Expenses in FI per month x 12)/Rate of Return to generate cash flows in FI

Rate of Return of your Wealth Machine(s) required in FI = Rate of Return to generate cash flows in FI+ Rate of Return to keep up with Inflation in FI[/quote]Myhttp://www.investmentmoats.com/wealth-building-2/how-much-do-you-need-for-financial-independence-or-retirement-a-simple-formula-to-guide-you/

Have a few \"pitstops\" on your way to the eventual goal. this would make it more achievable and know you are on the right track

https://i.imgur.com/YswW1hQ.gif\">

Gamify your life as well.

https://i.imgur.com/ywos3XX.gif\">

[kc007]

In my humble option, properties is the way to go in SG. My plan is to sell my primary property which is fairly central then move to the outskirts when I retire…since I will have all the time in the world to travel. Then rent 1 out for passive income. Very difficult or very rare for people to really make money in their entire portfolio via stock investment over a long term period…

[shawnlim88]

i have a couple friend, DINKs ( Double Income, No Kids)…

when they first married, they bought a resale 5 rm HDB in AMK.

after staying there for few years, they sold off that 5rm HDB 2 years ago and downgraded to a 4 rm HDB, few years later, they fully paid up for the HDB flat.

just sharing

[MrsKiasu]

If don’t mind sharing the house with strangers and there are no restrictions on it, I think renting the spare room(s) out is also a way to generate passive income when we are old…

[starlight1968sg]

MrsKiasu:

If don't mind sharing the house with strangers and there are no restrictions on it, I think renting the spare room(s) out is also a way to generate passive income when we are old..

I would prefer to downgrade to a small, small flat.

[pirated]

starlight1968sg:

MrsKiasu:

If don't mind sharing the house with strangers and there are no restrictions on it, I think renting the spare room(s) out is also a way to generate passive income when we are old..

I would prefer to downgrade to a small, small flat.

Won't be easy to get used to it