How much is enough for retirement in Singapore?
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lee_yl\" post_id=\"1936765\" time=\"1569287148\" user_id=\"17023:
How do you guys save 50% of income?! My number 3 is doing PSLE this year. His tuition alone is $1.7k a month. Number 4 soon. Family food expenses is almost $3k a month. Eat in weekdays. Eat out weekends. Mostly hawker bec I love hawker food. Haven't count kids expenses, insurances, car expenses (lao pok car, no loan), personal expenses etc. Everything v expensive nowadays. My elder 2 girls just robbed me of EXO concert tickets this month. I'd be happy to just balance the monthly budget lor.... :gloomy:
Actually I just realized that I do save at least 50% of the household expenses! Especially starting from this year. Used to have one big chunk of the household expenses going towards tuition but now after the kids are done w PSLE, our tuition expenses drop drastically.lee_yl\" post_id=\"1935960\" time=\"1568868246\" user_id=\"1702:
I can save 50% of my salary, no problem but that’s before kids come along.
Of course, those days when I could consistently save more than 50% was before the kids came along. -
tye, u have bundles of joy(s) to support mah . u will reap benefits when they grow adults … must wait longer too … next generation life is not easy to save up.
cut tuition to more down to earth rates.
Just balance monthly budget is risky - wat if one party becomes jobless … -
1.7k per child tuition, you have 4 kids, tyeogh…you actually rich lei. I just calculated agar ahar la…dd1 600/mth and dd2 700+/mth coz dd2 has music/dance…based on 4wks.
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Well I have 1/2 the number of kids you will have.
Tuition for DD and DS was limited to only Chinese when they were in Pr school. For DD Math as well when she was in P5/6. So tuition per month for both of them adds up to less than $1000. Sec school no more tuition. They are on their own.
DD went to the BTS concert this year. That is on her own expense. She used her savings. She went for Halloween Horror Night last year and wants to go again this year. This will also be out of her own savings. No money no go.
We are a dual income family so that helps a lot. -
Was hoping to cut tuition when DD1 in Sec. But she need help in maths and one of the sciences. DD2 only P1. But I kiasu and give tuition. I treat as investment la. Total damage per mth almost $1,200. Can pay for a condo mortgage. 😭
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doodbug\" post_id=\"1936791\" time=\"1569294109\" user_id=\"13281:
This I agree. 55-65 most jia lat period. Employers hiam we expensive. Wake up everyday somewhere pain. Dunno how to cross sia. I see many high flying peers kena pok from their jobs ard this age.
I personally feel the 'vulnerable' age is really 55 to 65, before CPF Life payouts kick in. This is the time when kids may not be fully financially independent yet, when one may be retrenched, health issues may set in etc. If one is fortunate to have sums in CPF (beyond what is required for CPFLife) for withdrawal at 55, I guess we'll really have to be careful and prudent with managing it to tide over or for contingencies during this period. -
tyeogh\" post_id=\"1936863\" time=\"1569311003\" user_id=\"94399:
I think 45 already employer find us ex. Say must guide younger colleagues and value add more. Unless promoted, pay hit ceiling liao. Kids still in school. Aging parents. Cannot lose job.
This I agree. 55-65 most jia lat period. Employers hiam we expensive. Wake up everyday somewhere pain. Dunno how to cross sia. I see many high flying peers kena pok from their jobs ard this age.doodbug\" post_id=\"1936791\" time=\"1569294109\" user_id=\"13281:
I personally feel the 'vulnerable' age is really 55 to 65, before CPF Life payouts kick in. This is the time when kids may not be fully financially independent yet, when one may be retrenched, health issues may set in etc. If one is fortunate to have sums in CPF (beyond what is required for CPFLife) for withdrawal at 55, I guess we'll really have to be careful and prudent with managing it to tide over or for contingencies during this period.
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MyPillow\" post_id=\"1936858\" time=\"1569310054\" user_id=\"70594:
Joy indeed. Right now it's still a struggle. This week PSLE. Tuition end. So can start saving after this month haha
tye, u have bundles of joy(s) to support mah . u will reap benefits when they grow adults .. must wait longer too .. next generation life is not easy to save up.
cut tuition to more down to earth rates.
Just balance monthly budget is risky - wat if one party becomes jobless ... -
MrsKiasu\" post_id=\"1936859\" time=\"1569310227\" user_id=\"43981:
Only applies to PSLE year nia. After PSLE, no more tuition. Daddy broke liao. I tell them, Daddy give you a leg up in primary school only. After that, you dont make it into local tertiary, it's your own funeral.
1.7k per child tuition, you have 4 kids, tyeogh..you actually rich lei. I just calculated agar ahar la..dd1 600/mth and dd2 700+/mth coz dd2 has music/dance..based on 4wks. -
the mummy can sell the H bags after a while ,still can support tuition for some months
true - it may be troublesome, but its good to keep a year plus of detailed expenses in excel /chart
then pick a/some dept to cut expenses
my dh is also more careful/ stingy in the tuition/ enrichment dept ... he feels we are making that industry rich & RICHER ; while parents slough like a buffalo ..which the $ can be saved to buy better insurance, investment pdt - cloud just pointed out $1k+ can pay mortgage for 1 bedder condo or another new 4rm flat monthly
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