How much is enough for retirement in Singapore?
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hercules:
Hercules, thanks for sharing n point noted.
My kids worked during long holidays after they turned 17. It's really not because of the money but my intention to build their grit and to be groomed by hard knocks (my girl had to squat down on the floor of a retail shop to scrub off dirt stuck on the floor every morning before the shop opened for business and my son had to de-shell prawns in a kitchen when he worked as a kitchen helper). All my nieces and nephews worked in their tertiary years (to lighten their parents' financial loads so that their parents could save for their own retirement).
One of my nieces actually applied and excused from CCA and used the CCA time to give tuition, and she listed such tuition experience in place of CCA in her resume and to me, this is more impressive than the CCA if I were the reader of the resume.
These kids are full of potentials that can be stretched if we allow them.
Dont small see them. They can manage it if you allow them to.
:salute: -
MyPillow:
Holidays they dun need expensive ones but if we can afford easily, we will bring them. It cannot be expected. My son is quite thrifty. Doesn't spend unnecessarily. He is pretty budget conscious. Even when bring him to restaurant to makan sometimes and he gets to choose 1-2 dishes to order, he will find those food too expensive when they r actually pretty reasonably priced.Hmmm... to set as role model n save more
Kids no need to go expensive travel with parents ? JB, malacca n KL are luxury Last time we also stay in Singapore or msia only ??? :evil:
eating Macdonald n KFC was luxury too ....roast duck ,roast chicken were festive only luxury too ... sigh ...time change ...
Having enough money for our old age years is a already a big help to kids next time. We dun like to be a burden. I am thankful n Blessed my old folks are v self sufficient too.
Having no helpers , I see my young ones st home v ηΌζ the grand parents who help n cook for them when papa n mama are working outside -
zbear:
Resentment? No lah, no resentment, only bear the grudge for 20 years. :rotflmao:
lee_yl, did you feel resentment against your mum? Sometimes I wonder - will such behavior create a reverse reaction from the child although the parent has good intentions?lee_yl:
20 years ago, my mum did NOT pay for my local Uni education. Not that she couldn't afford it but she made me took up a study loan from her CPF which I later paid off after working for 3 years.
15 years ago, when I wanted to get my matrimonial home, I asked my mum to temporarily lend me $20K as my FD would not be maturing so soon. She refused claiming she didn't have the money. Ok, never mind, DH and I settled the financing ourselves. Not long after that, she asked me which bank then offered the best FD rate for her $50K savings. In my heart, I was thinking, I tot you told me you didn't even have $20K?
Zero dollar from my mum for my wedding and she gave me a microwave oven, which she won at a lucky draw, as my house warming.
My mum is a true blood Hakka.
At the end of the day, how to resent my own mother? Guess she also has to plan for her own retirement.
Whether such upbringing will result in a reversal behaviour on the children, I think very much depends on the individual but I believe nobody will hate their parents. I did inherit some of her thrifty habits.
PS: you are blessed with caring & generous parents. -
TheAnswer:
Thanks and you are doing well too. We must \"thank\" our parents for what we are today.
U r doing very well now babe!lee_yl:
20 years ago, my mum did NOT pay for my local Uni education. Not that she couldn't afford it but she made me took up a study loan from her CPF which I later paid off after working for 3 years.
15 years ago, when I wanted to get my matrimonial home, I asked my mum to temporarily lend me $20K as my FD would not be maturing so soon. She refused claiming she didn't have the money. Ok, never mind, DH and I settled the financing ourselves. Not long after that, she asked me which bank then offered the best FD rate for her $50K savings. In my heart, I was thinking, I tot you told me you didn't even have $20K?
Zero dollar from my mum for my wedding and she gave me a microwave oven, which she won at a lucky draw, as my house warming.
My mum is a true blood Hakka. -
TheAnswer:
My children and I have not ventured out of Asian countries, most of the time we visit Malaysia. We always fly budget air.
Holidays they dun need expensive ones but if we can afford easily, we will bring them. It cannot be expected. My son is quite thrifty. Doesn't spend unnecessarily. He is pretty budget conscious. Even when bring him to restaurant to makan sometimes and he gets to choose 1-2 dishes to order, he will find those food too expensive when they r actually pretty reasonably priced.MyPillow:
Hmmm... to set as role model n save more
Kids no need to go expensive travel with parents ? JB, malacca n KL are luxury Last time we also stay in Singapore or msia only ??? :evil: eating Macdonald n KFC was luxury too ....roast duck ,roast chicken were festive only luxury too ... sigh ...time change ...
Having enough money for our old age years is a already a big help to kids next time. We dun like to be a burden. I am thankful n Blessed my old folks are v self sufficient too.
Having no helpers , I see my young ones st home v ηΌζ the grand parents who help n cook for them when papa n mama are working outside
Expensive trips to Europe and America must wait till DH collect his pension first. This is my way to live below our means. -
Leeyl ,I am similar situation like u
Recall back , just wonder why she so \" thrifty \" or stingy .
Now I know , she need to build her retirement nest right n it's a lot . Now mama commented dunno how to spend :scratchhead: I no need her $ now coz we can build up with our bare hands since we are both working ( did not Rec any inheritance yet)
We are thankful , our parents help us to build internal strength
The qn is we can b trained in this way
But can our kids , they are ultra strawberries genre , the world they are in future is going to be vast different ! -
lee_yl:
Resentment? No lah, no resentment, only bear the grudge for 20 years. :rotflmao:
At the end of the day, how to resent my own mother? Guess she also has to plan for her own retirement.
Whether such upbringing will result in a reversal behaviour on the children, I think very much depends on the individual but I believe nobody will hate their parents. I did inherit some of her thrifty habits.
PS: you are blessed with caring & generous parents.
Thanks lee_yl.
You are right - it all depends on each individual. As to whether a child will hate their parent? Well, I have an old classmate - her mum controlled her so much that in the end she went berserk and moved out of her mother's home becos she could not stay under the same roof as her mum. Maybe it's a rare exception but why take chances to break family ties?
I feel communication between parent n child is very important. What your mum did is with good intentions but it's not communicated. This can easily lead to misunderstandings which can last for years.
Whatever I do, I will tell my kids becos I want open communication lines and I treat them like adults. I want them to understand my actions n if they feel that I am not doing right, I am open to their opinions n feedback. My kids also shared with me of what is going on in their lives n their goals. I will give my opinions too. So far so good.
I have seen my kids work so hard in their studies n i don't want them to go berserk. I just told them to do their best n I will give them a helping hand when things don't go well. But they refused my help and stubbornly want to try on their own to achieve financial independence.
Perhaps I am blessed with sensible children????
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It may be too early for me to say as my kids are still young..just based on my own experience..dont quite understand why one must undergo sufferings in order to understand sufferings. We should pass down as much love as possible to our kids..me still guilty of that and I am learning :sad:
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zbear:
Yes zbear, i would think so..you have sensible kids there.lee_yl:
Resentment? No lah, no resentment, only bear the grudge for 20 years. :rotflmao:
At the end of the day, how to resent my own mother? Guess she also has to plan for her own retirement.
Whether such upbringing will result in a reversal behaviour on the children, I think very much depends on the individual but I believe nobody will hate their parents. I did inherit some of her thrifty habits.
PS: you are blessed with caring & generous parents.
Thanks lee_yl.
You are right - it all depends on each individual. As to whether a child will hate their parent? Well, I have an old classmate - her mum controlled her so much that in the end she went berserk and moved out of her mother's home becos she could not stay under the same roof as her mum. Maybe it's a rare exception but why take chances to break family ties?
I feel communication between parent n child is very important. What your mum did is with good intentions but it's not communicated. This can easily lead to misunderstandings which can last for years.
Whatever I do, I will tell my kids becos I want open communication lines and I treat them like adults. I want them to understand my actions n if they feel that I am not doing right, I am open to their opinions n feedback. My kids also shared with me of what is going on in their lives n their goals. I will give my opinions too. So far so good.
I have seen my kids work so hard in their studies n i don't want them to go berserk. I just told them to do their best n I will give them a helping hand when things don't go well. But they refused my help and stubbornly want to try on their own to achieve financial independence.
Perhaps I am blessed with sensible children????
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MyPillow:
Like you say, our parents help us to build up our internal strength through training, so likewise, our children can be similarly trained too lah. Thriftiness (and financial literacy) should be trained from young.Leeyl ,I am similar situation like u
Recall back , just wonder why she so \" thrifty \" or stingy .
Now I know , she need to build her retirement nest right n it's a lot . Now mama commented dunno how to spend :scratchhead: I no need her $ now coz we can build up with our bare hands since we are both working ( did not Rec any inheritance yet)
We are thankful , our parents help us to build internal strength
The qn is we can b trained in this way
But can our kids , they are ultra strawberries genre , the world they are in future is going to be vast different !
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