How much is enough for retirement in Singapore?

[TheAnswer]

zbear:

The ones who suggest we plan to 100 years are financial advisers n Ah Gong.


For sure, we know why they suggest this.

Got plan better than no plan.. sekali really live until 100 how leh? Surely we dun want our life to have poorer quality as we age right?

[TheAnswer]

MrsKiasu:

Somehow my brain just couldnt calculate the money when reading these kind of articles ..seems like the more the merrier. Ok, we shall just continue to work or to earn

This morning I was at the market buying vege.. even vege ppl kpkb too expensive.. how to survive like that?

[starlight1968sg]

TheAnswer:

zbear:

The ones who suggest we plan to 100 years are financial advisers n Ah Gong.


For sure, we know why they suggest this.

Got plan better than no plan.. sekali really live until 100 how leh? Surely we dun want our life to have poorer quality as we age right?

Unfinished money can pass on to children, grandchildren.

[TheAnswer]

better to have surplus then insufficient…

[starlight1968sg]

TheAnswer:

better to have surplus then insufficient..

When we are old, likely our health is not ok.

[starlight1968sg]

Maybe for a layman and not to frighten us further with the big numbers involved, perhaps we can plan we live till age 90?

[MrsKiasu]

while it is important to have enough or better still more than enough...I personally find that some people may feel pressurized by the amount. I think it is good to save and spend wisely since young but even that not majority will be able to have that amount even after one tried (hard). So that only makes people more stressful to face or to think about their old age (?). If the old couple eat at home more and 'share' the food..got economy of scale already and ..less than x2 old already, can downgrade property or sublet spare rooms...also income. Or maybe got ferry to JB then can go wet market there...the worst check ourselves into old age home in JB..asked for a private room..think no need SGD6K for the couple..aiya, I m trying not to stress myself :rotflmao:

[sharonkhoo]

TheAnswer:

Got plan better than no plan.. sekali really live until 100 how leh? Surely we dun want our life to have poorer quality as we age right?

This is a reality for most people in most countries, so I think we should get used to the idea that we should live more simply as we age. If we work for about 40 yrs, then live for another 20 yrs beyond that, I think it is not really possible for our lifestyle to remain the same or better throughout. Especially for someone like me who has taken nearly 20 yrs out of the workforce and only working PT now, I know that I cannot expect to maintain the same standard of living for the rest of my life. Saving and preparing for retirement is important, but maintaining the same standard of living throughout life is not the main priority.

[TheAnswer]

If pressurized by the amount then need to reduce expectations.

I can see that my parents and fil spend more during retirement… hehe…they have more cravings to jiak ho liao…Go gai gai… I never see them sharing 1 bowl of food hor…unless is order more variety and share… my grandma still ask to jiak lobster or crab from time to time … she is 90+ liao… Recently I saw the mooncake that grandma likes increased in price… now 2 for $27… wah piang eh…

Tmr to Sat they are going to chalet with grandkids… happy time… my parents and fil were very thrifty when hubby and I were growing up… now is their time to enjoy…

[sharonkhoo]

TheAnswer:

If pressurized by the amount then need to reduce expectations.

I can see that my parents and fil spend more during retirement.. hehe..they have more cravings to jiak ho liao..Go gai gai.. I never see them sharing 1 bowl of food hor..unless is order more variety and share.. my grandma still ask to jiak lobster or crab from time to time .. she is 90+ liao.. Recently I saw the mooncake that grandma likes increased in price.. now 2 for $27.. wah piang eh..

Tmr to Sat they are going to chalet with grandkids.. happy time.. my parents and fil were very thrifty when hubby and I were growing up.. now is their time to enjoy..

My parents are like that too but I don't think I can achieve that given the choices we have made in the past 20 yrs (and I wouldn't choose differently if I had to choose again). I guess each person/couple needs to work out what their expectations are.