How much is enough for retirement in Singapore?
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PriSecMathSciTutor:
Depends on what entertainment. Fil read newspapers and mil watch her Cantonese drama.starlight1968sg:
How much you need to retire : http://www.todayonline.com/singapore/how-much-you-need-retire
Most of us assume that during our retirement we do not spend much. It is such a misconception. Entertainment needs money. Just think about why we spend more during weekends. It is a good indication for our future expenditure.
Since I became sahm, we eat out less and cut down on children enrichment. Holiday trips reduced from 4 to 2 times a year. Not sure how much further we can cut.
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emoh:
Just to simplify things for the sake of discussion.
If a person needs 5K a month at 45 and live another 45 years till 90 can choose to retire with at least $2.7M at the age of 45 (45 x 12 x 5K)
If you need 5k now, then you'll need 10k at 65. Assuming you have exhausted half of the 2.7M by 65, your remaining money will only last for another 10~12 yrs. -
How to “make” more $$ ?
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Nebbermind:
NB, i think u have just made this thread more stressful than psle threads.
Just to simplify things for the sake of discussion.emoh:
If a person needs 5K a month at 45 and live another 45 years till 90 can choose to retire with at least $2.7M at the age of 45 (45 x 12 x 5K)
If you need 5k now, then you'll need 10k at 65. Assuming you have exhausted half of the 2.7M by 65, your remaining money will only last for another 10~12 yrs.
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Nebbermind:
I dun wish to live till 90yo
Just to simplify things for the sake of discussion.emoh:
If a person needs 5K a month at 45 and live another 45 years till 90 can choose to retire with at least $2.7M at the age of 45 (45 x 12 x 5K)
If you need 5k now, then you'll need 10k at 65. Assuming you have exhausted half of the 2.7M by 65, your remaining money will only last for another 10~12 yrs.
Above 70s is already a bonus in my opinion. Too much does more harm than good
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Cloud Cloud:
yalor cloud, i find i m quite giam on tuition/enrichment :oops: now is about 1k/mth, next year will be more with dd2 but i hope wont cross 1.5k. secondary kids will usually need chi/eng tuition or not? i read some ksp members mentioned no time for tuition and I hope so lor. come to think if it..it is the enrichment that is more..aiya.
I think you are doing fine. 2 properties and you probably don’t spent much on children’s enrichment. -
MrsKiasu:
I feel that children enrichment is a kind of investment...so bo bian. I used to spend more than $1k on DD1. She is now in Sec 1 and only has Maths tuition ($180 a mth). She is in IP and got A*/As for all subjects except Chinese. I feel that her strong foundation helps and the investment has paid off.
yalor cloud, i find i m quite giam on tuition/enrichment :oops: now is about 1k/mth, next year will be more with dd2 but i hope wont cross 1.5k. secondary kids will usually need chi/eng tuition or not? i read some ksp members mentioned no time for tuition and I hope so lor. come to think if it..it is the enrichment that is more..aiya.Cloud Cloud:
I think you are doing fine. 2 properties and you probably don’t spent much on children’s enrichment.
Not to worry. If your child has a strong foundation and the right attitude, tuition is not necessary in Sec. Not because no time but really no need. They should be mature enough to self help. You just need to hang on for a few more years. At least you can and is willing to teach... :salute: -
cloud, I m just learning along with dd recently on the Math. There was one morning, I was so enthusiastic to want to see how the qns look like when dd says she couldn't do. me, I need to look at answer in order to learn. Went through it with dd and she was happy :xedfingers: I m still trying to save on her other subj tuitions. Just had a thought, her weakest subj may need double dose. Let's see. piano is the most ex and recently when dd2 displayed her disinterest..i kinda asking what's the point huh? the dance enrichments fee still ok just need the time. for dd2, I m just ready for languages tuition only..i hope she can do the Math & Sci without outsourced help lor..
oh btw the 1k is inclusive of dd2 chi & piano..so need add likely eng and a dance enrichment for next yr. -
MrsKiasu:
The topic is \" how much u need for retirement \"cloud, I m just learning along with dd recently on the Math. There was one morning, I was so enthusiastic to want to see how the qns look like when dd says she couldn't do. me, I need to look at answer in order to learn. Went through it with dd and she was happy :xedfingers: I m still trying to save on her other subj tuitions. Just had a thought, her weakest subj may need double dose. Let's see. piano is the most ex and recently when dd2 displayed her disinterest..i kinda asking what's the point huh? the dance enrichments fee still ok just need the time. for dd2, I m just ready for languages tuition only..i hope she can do the Math & Sci without outsourced help lor..
oh btw the 1k is inclusive of dd2 chi & piano..so need add likely eng and a dance enrichment for next yr.
Big time OT lei
Well, if u willing to fork out $1k plus to buy retirement plan
, the returns at age 60 should be high lei
Let's go mrsks home for tuition talk -
With an aging population, there are plenty of retirement plans available
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