How much is enough for retirement in Singapore?

[tyeogh]

MyPillow\" post_id=\"1935994\" time=\"1568877995\" user_id=\"70594:

alamak, the topic abt clothes going to OT lei

We are on topic. What not to do if one wants enough to retire... :rotflmao:

[Iluvmygals]

To have 10k/mth passive income and retire at 50+…honestly that’s a really good deal…having stayed in a condo I start to ask myself why? It is still just a house…some more I pay maintenance for not using the facilities…now I can’t wait to move back to HDB haha

[Iluvmygals]

To have 10k/mth passive income and retire at 50+…honestly that’s a really good deal…having stayed in a condo I start to ask myself why? It is still just a house…some more I pay maintenance for not using the facilities…now I can’t wait to move back to HDB haha

[.010675zeit]

tyeogh\" post_id=\"1935997\" time=\"1568879017\" user_id=\"94399:

What HHoly grail HHandbag you got ah? HHow HHoly aHH? Tell tell...

tyeogh, HHa...I HHeart Jap - a great place for Retirement...Don't be too HHarsh on her as she's working to save up for her own Retirement. HHandbags can be sold after Retirement when she no longer needs to carry them to office. And more clothes means she helps you save water, electricity and detergent, as she can accumulate up to 2 weeks of laundry. Am sure your Retirement nest will HHuat aHH!

[tyeogh]

.zeit\" post_id=\"1936012\" time=\"1568883919\" user_id=\"171271:

tyeogh\" post_id=\"1935997\" time=\"1568879017\" user_id=\"94399:

What HHoly grail HHandbag you got ah? HHow HHoly aHH? Tell tell...

tyeogh, HHa...I HHeart Jap - a great place for Retirement...Don't be too HHarsh on her as she's working to save up for her own Retirement. HHandbags can be sold after Retirement when she no longer needs to carry them to office. And more clothes means she helps you save water, electricity and detergent, as she can accumulate up to 2 weeks of laundry. Am sure your Retirement nest will HHuat aHH!

Hahaha. I laugh till my tears come out. Tears of pain. Rolling down my cheek. How many will know our pain? I save on water and electric bill my whole life .... you all women just 1 x H.....we men hum. All effort gone. You 2 x H, i think i no need retire liao....

[ngl2010]

hercules\" post_id=\"1935933\" time=\"1568861759\" user_id=\"14947:

I have a pair of 'branded' kaki bermuda that I bought for $5 in a Japan second-hand store. Wore it for about 2 years and now the zip spoilt. To change the zip cost $6-7. So I am still thinking what to do with it (coz other parts are still all OK).

If your reason to buy second-hand goods is to save environment, then this should not even be a dilemma. The answer is very clear cut.

[hercules]

ngl2010\" post_id=\"1936147\" time=\"1568959911\" user_id=\"40978:

hercules\" post_id=\"1935933\" time=\"1568861759\" user_id=\"14947:

I have a pair of 'branded' kaki bermuda that I bought for $5 in a Japan second-hand store. Wore it for about 2 years and now the zip spoilt. To change the zip cost $6-7. So I am still thinking what to do with it (coz other parts are still all OK).

If your reason to buy second-hand goods is to save environment, then this should not even be a dilemma. The answer is very clear cut.

Sharing this small example to show the 'relative cost' of buying price vs repairing price (may also be applicable to having a $2000+ aircon/TV/computer etc that will require $800 repair fee that one has to consider whether to replace or to repair).

Throwing it away is out of question for me as it is still 'wearable' and I like the cutting and colour. Will wait for my girl to return and help me replace at almost FOC (sewing is one of her hobbies and she has a stock of sewing materials incl of zips. Hope she can still remember how to replace a zip else that piece will be a 'refresher' practice for her).

[hercules]

lee_yl\" post_id=\"1935969\" time=\"1568873647\" user_id=\"17023:

I believe that many young couples, especially those who just started working, can be quite prudent. I did not renovate our matrimonial home much, no ID, just a coat of paint, simple lightings and window grills because not much savings in our accounts. I can save 50% of my salary, no problem but that’s before kids come along. I recall in a bid to save money back then, one piece of tissue I tore into half to share!

Btw, being fiscally prudent but a decision that could cost them dear as there will be opportunity cost given that private property is likely to rise faster in value than HDB

What I heard from my girl, this couple has 'long term plans' with the first step to start their family 'fast'.

PS:

The world is interesting coz it is filled with different types of people:

https://www.youtube.com/watch?v=E6LR1w5IMf0&app=desktop

[lee_yl]

hercules\" post_id=\"1936172\" time=\"1568964006\" user_id=\"14947:

Coz they wanted to start their family 'fast' (after dating for about 4 years) but cannot accumulate enough to afford 'bigger things'.

I see. Then in this case, it has nothing to do with saving aggressively for their retirement but a case of not having enough money to get a bigger flat cos they have just started working?

And you mention this couple did have plans to upgrade to a “bigger house” (when they have accumulated a fatter CPF/with the proceeds they make from the sale of the flat). I supposed that this is quite typical of what most young couples will do (given their limited savings/CPF).

I do know of a few PSC scholar couples still staying in their matrimonial HDB flats after working for over decades! Actually, DH and I are also still staying in our matrimonial home and for the past 16 years, “never upgrade” (thou tempted to). The savings we have over the years, went towards retirement planning.

If this couple for the next 16 years continue staying in their matrimonial home (like us) and whatever savings they have get channeled into investments then I salute them. Who knows 16 years later, they upgrade to Bukit Timah landed liao lah

[Coolkidsrock2]

lee_yl\" post_id=\"1936231\" time=\"1568974615\" user_id=\"17023:

hercules\" post_id=\"1936172\" time=\"1568964006\" user_id=\"14947:

Coz they wanted to start their family 'fast' (after dating for about 4 years) but cannot accumulate enough to afford 'bigger things'.

I see. Then in this case, it has nothing to do with saving aggressively for their retirement but a case of not having enough money to get a bigger flat cos they have just started working?

And you mention this couple did have plans to upgrade to a “bigger house” (when they have accumulated a fatter CPF/with the proceeds they make from the sale of the flat). I supposed that this is quite typical of what most young couples will do (given their limited savings/CPF).

I do know of a few PSC scholar couples still staying in their matrimonial HDB flats after working for over decades! Actually, DH and I are also still staying in our matrimonial home and for the past 16 years, “never upgrade” (thou tempted to). The savings we have over the years, went towards retirement planning.

If this couple for the next 16 years continue staying in their matrimonial home (like us) and whatever savings they have get channeled into investments then I salute them. Who knows 16 years later, they upgrade to Bukit Timah landed liao lah

I think they will need to apply for a flat fast as they will breach the income limit very soon.