How much is enough for retirement in Singapore?

[MyPillow]

starlight1968sg\" post_id=\"1936892\" time=\"1569321117\" user_id=\"14025:

Slmkhoo
Am thinking along the same line - get a small flat or unit, no need to spend much time or effort on household chores.

For old couple , 2 br just nice

[starlight1968sg]

MP

I want 一房半厅一水缸

[Coolkidsrock2]

starlight1968sg\" post_id=\"1936898\" time=\"1569322333\" user_id=\"14025:

MP
I want 一房半厅一水缸

Ditto for me. I just need a dry kitchen to boil water.

[Coolkidsrock2]

tyeogh\" post_id=\"1936874\" time=\"1569313675\" user_id=\"94399:

MyPillow\" post_id=\"1936870\" time=\"1569312563\" user_id=\"70594:

the mummy can sell the H bags after a while ,still can support tuition for some months

She'd rather sell me off. Some topics are out of bound for world peace.... :lightrod:

DH only asked me how many square feet am willing to give.

[lee_yl]

Maybe my logic is warped.


Just an example, no intention to demean any profession. Imagine uncle - taxi driver, and auntie - NTUC cashier. Happily married and continue staying in a 3 room HDB flat after their 2 kids married off and finally passed on in their matrimonial home.

If I were to also pass on in a 3room HDB flat, then I might as well take things easy. For what I start retirement planning at such a young age and maintain strict fiscal discipline? For what I groom my kids to become successful professionals etc then I retire and die in a small flat ??
If my fate is going to be this, then from day 1, I might as well not stress over a lot of things Liao !!

[hercules]

Recalling this story (basically if one can figure out the below 'logic' earlier in life, then one would not put himself/herself under 'over pursuit'. I am trying to get my children to realise this as early in their life as possible.):


The American dream

An American businessman was standing at the pier of a small coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellowfin tuna. The American complimented the Mexican on the quality of his fish.

\"How long did it take you to catch them?\" the American asked.

\"Only a little while\" the Mexican replied.

\"Why don't you stay out longer and catch more fish?\" the American then asked.

\"I have enough to support my family's immediate needs\" the Mexican said.

\"But\" the American then asked, \"What do you do with the rest of your time?\"

The Mexican fisherman said: \"I sleep late, fish a little, play with my children, take a siesta with my wife, Maria, stroll into the village each evening where I sip wine and play guitar with my amigos. I have a full and busy life, senor.\"

The American scoffed: \"I am a Harvard MBA and could help you. You should spend more time fishing and with the proceeds you could buy a bigger boat and, with the proceeds from the bigger boat, you could buy several boats. Eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman, you would sell directly to the consumers, eventually opening your own can factory. You would control the product, processing and distribution. You would need to leave this small coastal fishing village and move to Mexico City, then LA and eventually NYC where you will run your expanding enterprise.\"

The Mexican fisherman asked: \"But senor, how long will this all take?\"

To which the American replied: \"15-20 years.\"

\"But what then, senor?\"

The American laughed and said: \"That's the best part. When the time is right, you would announce an IPO - an Initial Public Offering - and sell your company stock to the public and become very rich. You would make millions.\"

\"Millions, senor? Then what?\"

The American said slowly: \"Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take a siesta with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos...\"

Source: http://www.rogerdarlington.me.uk/stories.html

[sharonkhoo]

starlight1968sg\" post_id=\"1936892\" time=\"1569321117\" user_id=\"14025:

Slmkhoo
Am thinking along the same line - get a small flat or unit, no need to spend much time or effort on household chores.

I thought you are already in a small unit?

[starlight1968sg]

Slmkhoo

I want a even smaller unit.

YL
There is no right or wrong. If I were able to buy a 3 room flat (2 br), I will bec I can fully paid it and have a tidy sum for retirement.

[tyeogh]

ngl2010\" post_id=\"1936886\" time=\"1569318662\" user_id=\"40978:

:rotflmao: you are funny.... usually we, the women, that worried that the men will find little fresh meat...

We 21st century ady le. Equal rights. Not uncommon to have women cougars finding young boy toys....

[tyeogh]

lee_yl\" post_id=\"1936904\" time=\"1569325335\" user_id=\"17023:

Maybe my logic is warped.

Just an example, no intention to demean any profession. Imagine uncle - taxi driver, and auntie - NTUC cashier. Happily married and continue staying in a 3 room HDB flat after their 2 kids married off and finally passed on in their matrimonial home.

If I were to also pass on in a 3room HDB flat, then I might as well take things easy. For what I start retirement planning at such a young age and maintain strict fiscal discipline? For what I groom my kids to become successful professionals etc then I retire and die in a small flat ??
If my fate is going to be this, then from day 1, I might as well not stress over a lot of things Liao !!

The new Singapore dream. Die in a 3 room HDB flat. Haha.

To be fair, nobody aims low. If we can, work hard. Strive. Always have a property. Gives us an option to down grade when older. Taxi uncle and NTUC cashier aunty may be happier than us with their simple lives. Boils down to how we view money and stress. Be contented. Lose a little. Laugh a little. Things will be great. Quarrel over money. Stress over every penny. Maybe we return IC to govt earlier.....