How much is enough for retirement in Singapore?

[Cloud Cloud]

Nebbermind:

ammonite:

I think medical expenses are the main concern in old age. The rest - car, holiday, restaurants etc -are negotiable according to one’s circumstances.

This is prob true for any part of adulthood

Agreed. I just upgraded my medical insurance so that I can also see the private doctor. Would be miserable if I have to wait to see government doctor.

Car is really the least priority.

[janet88]

restaurants once in a blue moon. holidays once in a purple moon (never have travel bug)…but car is necessary. medical expenses going up.

[ammonite]

janet88:

restaurants once in a blue moon. holidays once in a purple moon (never have travel bug)....but car is necessary. medical expenses going up.

why ah? :scratchhead: (not denying that it is an added convenience)

[ammonite]

Nebbermind:

ammonite:

I think medical expenses are the main concern in old age. The rest - car, holiday, restaurants etc -are negotiable according to one’s circumstances.

This is prob true for any part of adulthood

You're right, but most people don't think about medical expenses when they are in their twenties, thirties, maybe even forties.

[Funz]

When you hit a certain age driving may not even be an option. With my vision at night getting worse I wonder if I can still drive when I am in my 60s.

[ammonite]

Funz:

When you hit a certain age driving may not even be an option. With my vision at night getting worse I wonder if I can still drive when I am in my 60s.

Good point. In fact an elderly relative almost drove into the kerb a few months ago. And another elderly family friend with mobility issue (but still manage to retain driving license) wrecked a line of cars while parking cos he couldn't step on the brake in time.

[Nebbermind]

Funz:

When you hit a certain age driving may not even be an option. With my vision at night getting worse I wonder if I can still drive when I am in my 60s.

Well, if you can do without, then the savings is probably around $15k/year, even for the cheapest car (today's price).

[ammonite]

lee_yl:

I think some need helpers because they have young children or old folks at home? I have heard of people driving branded cars due to their job requirements, especially those in sales line, so even if they aren’t earning much, they still need to hold on to their branded car in order to gain confidence of their customers by portraying an image that they are doing well.

Yes, these are common rationales and I suppose hold some water. But I was still surprised to read in the news some time ago of single income family (I think around 3k monthly) who sees car as a necessity because of young children.
I thought they are the exceptions, but then I learn of other families without young/elderly/sales jobs but still cutting it almost just as thinly (to me) on a monthly basis.

[Funz]

Nebbermind:

Funz:

When you hit a certain age driving may not even be an option. With my vision at night getting worse I wonder if I can still drive when I am in my 60s.

Well, if you can do without, then the savings is probably around $15k/year, even for the cheapest car (today's price).

That $15K will partly go into Uber and Grab expenses.

[Nebbermind]

Funz:

Nebbermind:

[quote=\"Funz\"]When you hit a certain age driving may not even be an option. With my vision at night getting worse I wonder if I can still drive when I am in my 60s.

Well, if you can do without, then the savings is probably around $15k/year, even for the cheapest car (today's price).

That $15K will partly go into Uber and Grab expenses.[/quote]Use BMW lah! I think after uber/grab/taxi, still can saving $10k if donch everyday go out and chiong.