How much is enough for retirement in Singapore?
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That’s 1 of the reasons why our Govt has to ‘help’ us keep our CPF till we are 65 🤪 and not let these men splurge on their immoral activities.
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Most men I know have extra-marital affairs. The wives are either in denial or don’t know or they accept it.
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starlight1968sg\" post_id=\"1937074\" time=\"1569386424\" user_id=\"14025:
A general rule of thumb at your stage of life:
Hercules
The challenge is when to know or realise that \"enough is enough\".
1. Set aside a sum of about $50,000 - $100,000 as FD or govt bond for your emergency medical needs.
2. Know your monthly expenses / budget well to have a decent living.
3. See whether you can hit the below (4% pa rule). For greater sense of security, maybe you add another 10 - 20% as spare cash. *I didnt take CPF Life into consideration and so if you want to incl it, have to open spreadsheet to see the fuller picture.
Monthly Income / Retirement Sum
1,000.00 / 300,000.00
1,500.00 / 450,000.00
2,000.00 / 600,000.00
2,500.00 / 750,000.00
3,000.00 / 900,000.00
4,000.00 / 1,200,000.00
5,000.00 / 1,500,000.00
Bulk of my savings are currently in different types of annuity that suits my needs (so that I don't bother with economy good or bad and even if I turn senile and risk being 'conned', the sum of money will continue to flow in monthly). Can explore annuity (never mind about agent making the commission as I think this is suitable for the ultra careful you).
Small parts are in REITs and bank stocks (for dividends) + corporate bonds. You don't really have time to explore unit trusts and so may skip this instrument (my kids do buy UT). I think REITs and maybe bond ETF are more suitable for you.
When you are free, you go library to borrow some personal finance books. You may start with those 'textbook' kind as it offer step by step for you to see the fundamental of financial planning. Read at least 10 books to have a basic grasp. Read enough to feel more assured (basically content is more or less repetitive) instead of maybe keep wondering about uncertainties.
Don't trust people who try to sell you snake oils (such as expensive investment courses that look 'free') but then you also cannot be afraid of investing.
Knowledge is always power.
PS: Everyone has different patterns of money needs and so above is just very general kind of planning. -
lee_yl\" post_id=\"1937125\" time=\"1569393683\" user_id=\"17023:
200k seeding funds? Lucky girl! :rahrah:
Standard would be shares, unit trusts... And inheritance?? I read that Hercules’ daughter received $200K seeding funds from grandparents’ inheritance. So good leh.MyPillow\" post_id=\"1937077\" time=\"1569386799\" user_id=\"70594:
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 ? -
Estéema\" post_id=\"1937183\" time=\"1569410240\" user_id=\"66413:
I think the long hours and stress at work bring people together. 日久生情 celebrating wins together, experiencing the adrenlin rush of success, consoling each other in bad moments, growing together professionally, etc.
I must say ladies are more daring & expressive than the past generations of womenfolk. But hah, think also female are more assertive and men still hold the alpha complex and hv not caught on the co-sharing in partnership in a relationship nor co-parenting duties. To be fair, I know some womenfolk wants their cake & eat it too or for keeps. Don’t bash yourself up lah.
This generation seems like divorce is so easy to utter, but it affects both sides (worst if kids are in the equation) if they care to admit as afterthots. It’s good that our society institute some form of cooling period & divorcing parties can retract after careful considerations.
Not all spouses are supportive. Not every home environment is conducive to someone who has a bad day.
Some people will rather not go home if it means a second shift of doing housework or supervising kids. It's more enjoyable socialising outside. 我逗你开心 你逗我开心 -
hercules\" post_id=\"1937219\" time=\"1569422031\" user_id=\"14947:
Like this everyday must eat fried grass with oyster sauce le....
Monthly Income / Retirement Sum
1,000.00 / 300,000.00
1,500.00 / 450,000.00
2,000.00 / 600,000.00
2,500.00 / 750,000.00
3,000.00 / 900,000.00
4,000.00 / 1,200,000.00
5,000.00 / 1,500,000.00 -
Coolkidsrock2\" post_id=\"1937228\" time=\"1569427285\" user_id=\"48901:
This reminds me - hv to sensitize my kids the importance of selecting a suitably mature and responsible candidate for a spouse as the responsibility is for the long haul - love, perseverance, duty, sacrifices.... it’s not a walk in the garden for the faint hearted. It’s either u hv true love to carry you thro the toss & turns of life or you’ve a brave heart to last till those grey hair years & grandkids. Don’t look too far. Enjoy the journey!
I think the long hours and stress at work bring people together. 日久生情 celebrating wins together, experiencing the adrenlin rush of success, consoling each other in bad moments, growing together professionally, etc.Estéema\" post_id=\"1937183\" time=\"1569410240\" user_id=\"66413:
I must say ladies are more daring & expressive than the past generations of womenfolk. But hah, think also female are more assertive and men still hold the alpha complex and hv not caught on the co-sharing in partnership in a relationship nor co-parenting duties. To be fair, I know some womenfolk wants their cake & eat it too or for keeps. Don’t bash yourself up lah.
This generation seems like divorce is so easy to utter, but it affects both sides (worst if kids are in the equation) if they care to admit as afterthots. It’s good that our society institute some form of cooling period & divorcing parties can retract after careful considerations.
Not all spouses are supportive. Not every home environment is conducive to someone who has a bad day.
Some people will rather not go home if it means a second shift of doing housework or supervising kids. It's more enjoyable socialising outside. 我逗你开心 你逗我开心 -
tyeogh\" post_id=\"1937229\" time=\"1569429109\" user_id=\"94399:
It was addressed to SL's \"stage of life\", which is very different from yours. The highest expense years for most families are when there are kids in sec school to university, exacerbated by highly variable expenses like private tuition fees. And you have more kids than she does. Not that you shouldn't be setting aside some savings, but you may need to moderate your expectations of how much you can realistically amass during these years. As long as you are setting aside some, compounding will help it grow, and you may well achieve those targets by the time you are in your 50s-60s. For my family, these 4 years or so are really high expense with 2 girls at university, so we accept that we have to draw on our savings to some extent rather than add to it. But these expenses were taken into account in our earlier savings and planning, and we have always lived simply. So we just grit our teeth for these few years. In 2 years time, both will graduate (hopefully!), and our expenses will reduce.
Like this everyday must eat fried grass with oyster sauce le....hercules\" post_id=\"1937219\" time=\"1569422031\" user_id=\"14947:
Monthly Income / Retirement Sum
1,000.00 / 300,000.00
1,500.00 / 450,000.00
2,000.00 / 600,000.00
2,500.00 / 750,000.00
3,000.00 / 900,000.00
4,000.00 / 1,200,000.00
5,000.00 / 1,500,000.00 -
tyeogh has elder kids, can help out with the youngest one later on..good planning :rahrah:
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slmkhoo\" post_id=\"1937233\" time=\"1569456938\" user_id=\"28674:
It was addressed to SL's \"stage of life\", which is very different from yours. The highest expense years for most families are when there are kids in sec school to university, exacerbated by highly variable expenses like private tuition fees. And you have more kids than she does. Not that you shouldn't be setting aside some savings, but you may need to moderate your expectations of how much you can realistically amass during these years. As long as you are setting aside some, compounding will help it grow, and you may well achieve those targets by the time you are in your 50s-60s. For my family, these 4 years or so are really high expense with 2 girls at university, so we accept that we have to draw on our savings to some extent rather than add to it. But these expenses were taken into account in our earlier savings and planning, and we have always lived simply. So we just grit our teeth for these few years. In 2 years time, both will graduate (hopefully!), and our expenses will reduce.[/quote]time passes fast..in 2 years time your finances will become healthy again.
Like this everyday must eat fried grass with oyster sauce le....tyeogh\" post_id=\"1937229\" time=\"1569429109\" user_id=\"94399:
[quote=hercules post_id=1937219 time=1569422031 user_id=14947]Monthly Income / Retirement Sum
1,000.00 / 300,000.00
1,500.00 / 450,000.00
2,000.00 / 600,000.00
2,500.00 / 750,000.00
3,000.00 / 900,000.00
4,000.00 / 1,200,000.00
5,000.00 / 1,500,000.00
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