How much is enough for retirement in Singapore?
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MyPillow\" post_id=\"1937038\" time=\"1569380378\" user_id=\"70594:
imagination running wild liao
while I was typing. I am like trying to think n dig into future to imagine n \"dream\"
< Retirement $ and Retirement House >
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lee_yl\" post_id=\"1936962\" time=\"1569342776\" user_id=\"17023:
Haha, for the sum of $1.5mil how many zeros are there? At least 6 zeros, not enough zeros ah?
Current lifestyles of my kids I estimated if have $2500/month, they will be reasonably comfortable in their retirement years. My girl’s $1.5 mil probably could yield her $5,000/month of recurring retirement income in 18 years time (about $3,000 present value at 3% inflation). -
Hercules
The challenge is when to know or realise that "enough is enough". -
MyPillow\" post_id=\"1937035\" time=\"1569379451\" user_id=\"70594:
It was over dinner casual conversation. That boy said he doesn't see why people slog to pursue materials gain and why the society and cost of living is causing people to have to work and having lower quality of life despite the better standards of living. He just want a decent 4room hdb, a stay at home wife (which I think not so possible or realistic) and decent living. I am thinking is it our semi Mexican village life is causing him to lack the ambition/drive because when one lives in a peaceful fishing village, he won't know the excitement of city living. We live simply, travel only to neighbouring countries etc and he is comfortable with such standards. Is it complacency? Or life realisation?jedamum\" post_id=\"1936990\" time=\"1569351236\" user_id=\"159:
Will you all take care of your grandkids or go retired at a fishing village?
My son asked if I can take care of his future kids next time. Lol. He knows I quit my job to take care of them and doesn't think next time wives will be contented with giving up their careers and staying home for the kids.
i thought Teens din even think of getting married yet.
If i am already near 60 - i should not be working FUll time or not working for $ already
i think i will help to look look see see the grand kids , not staying with them.
it is really v difficult to manage for ftwm to work and look after babies, todds, pri sch ,even sec Teen - always good to have a senior grandparent at home to show love n care to young/schooling children. Adult parents will feel more assured at work too . -
Hercules, since u are not into property …
can share light on what types of investment products that u had aimed many yrs ago that can make $10k passive income now ? -
tyeogh\" post_id=\"1936857\" time=\"1569309609\" user_id=\"94399:
I don’t believe in expensive preschool but I do believe in quality tuition. My DD2 just finished her psle last year and her tuition + piano fees reached a high of $1,600 per month as I threw in 2 more for her at the last minute that year. I invested the money with only one aim, that is both DDs do well in psle and make the cut for IP.
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:lee_yl\" post_id=\"1936765\" time=\"1569287148\" user_id=\"17023:
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.
Of course, those days when I could consistently save more than 50% was before the kids came along.
So far, we have not traveled out of Asia and I put on hold the plan to upgrade our 13yo family car. No H bags for me. I save and scrimp on other things to provide them with a good education. So it’s like if money flows out of your right hand, then you save on your left hand.
Regarding food. Your family cooks on most days, then $3K/month is a lot. You all eat what huh? My budget is max $20 per Home-cooked dinner. So mon-fri $20 X 5 days X 4 weeks, that’s only $400 !! -
jedamum\" post_id=\"1936990\" time=\"1569351236\" user_id=\"159:
Good question! I dont teach my children how to accumulate $1m savings. But I ady made my demands to them each must give me back 4 grandchildren. So total 16 grandchildren. I will be happy to look after them as a retirement job! My wife and me love kids. They can go work husband and wives. Of course, each child must supply me 1 maid
Will you all take care of your grandkids or go retired at a fishing village?
My son asked if I can take care of his future kids next time. Lol. He knows I quit my job to take care of them and doesn't think next time wives will be contented with giving up their careers and staying home for the kids.
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starlight1968sg\" post_id=\"1937074\" time=\"1569386424\" user_id=\"14025:
From my pov, the truth is, on hindsight, every one is wiser.
Hercules
The challenge is when to know or realise that \"enough is enough\".
My boy said one doesn't need 270 to enter top sec school in Singapore. Why the spending on tuition and endless exam papers drills then? But does one knows if he can hit the cut off point prior to release of results?
Then others can say why must die die go that school? No need to study, all schools are good schools. Be contented. The balance of staying competitive or being complacent - one will know his her decision is correct or wrong when they reach that destination, no? -
tyeogh\" post_id=\"1937082\" time=\"1569387410\" user_id=\"94399:
My hb already chope me to spend time with him when he retires He is the priority, not the kids or grandkids.
Good question! I dont teach my children how to accumulate $1m savings. But I ady made my demands to them each must give me back 4 grandchildren. So total 16 grandchildren. I will be happy to look after them as a retirement job! My wife and me love kids. They can go work husband and wives. Of course, each child must supply me 1 maid.jedamum\" post_id=\"1936990\" time=\"1569351236\" user_id=\"159:
Will you all take care of your grandkids or go retired at a fishing village?
My son asked if I can take care of his future kids next time. Lol. He knows I quit my job to take care of them and doesn't think next time wives will be contented with giving up their careers and staying home for the kids. I think because your kids are cared for by your inlaws, you are looking forward to reclaim that period you miss. Ours are 24/7 our job (except first 3yrs), so hb felt he miss nothing. Only his freedom. :scared:
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Complacency.
Read Andrew Kwan’s Sunday Life sharing. He’s got ALL the zeros most Sporeans wld dream of but it’s all about PURPOSEFUL LIVING. One can still keep busy & work thro till ripe old age healthy and fulfilling.
I teach my kids to hold good value system they believe in and find sth they are passionate abt to do. When you hv a balance view of life, you’ll not want to pursue the zeros blindly. But if the zeros fit nicely, be thankful. If the zeros add-on, and you enjoy how the things you do with your hands (and brains) provide goodness and love to others, carry on GIVING. Yes, keep tabs with your health on your life’s journey. Everything you do within your stride, without strife or glory would be considered positive vibes. JMHO
Some level of purposeful ambition and constructive stress is necessary to keep us on this earth owise, our muscles (incl brain muscles) will crumble away to waste.
The only backlash you get is when you’re comparing yourself mindlessly to look better, to ‘live better’ (how much is better, how big is better or how better is better?). This attitude gives negative vibes. In turn, the strife drives u blindlessly to no end in ‘acquiring’ and grief when things are in your way or against your goals. This is when things turns unhealthy, negative and cancerous for you & it can spread like wildfire (you & your family suffers).
Be contented and thankful. I wish all hardworking. positive and forwarding looking KSP parents happiness and good health.
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