How much is enough for retirement in Singapore?
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tyeogh\" post_id=\"1937713\" time=\"1569557929\" user_id=\"94399:
It's already over $8K per year for the non-lab courses at local universities, and that's just fees alone. By the time your kids get to university, especially the youngest, it will have increased.
I can only afford local. Told all my kids. No safety net. Dun make it, their funeral. No spoon feeding. So far, the elder 2 conscientious.
Intend to use CPF to pay. If not medicine, each child must budget $20k? :moneyflies: -
slmkhoo\" post_id=\"1937907\" time=\"1569569486\" user_id=\"28674:
Baby bonus cannot use right?
It's already over $8K per year for the non-lab courses at local universities, and that's just fees alone. By the time your kids get to university, especially the youngest, it will have increased.tyeogh\" post_id=\"1937713\" time=\"1569557929\" user_id=\"94399:
I can only afford local. Told all my kids. No safety net. Dun make it, their funeral. No spoon feeding. So far, the elder 2 conscientious.
Intend to use CPF to pay. If not medicine, each child must budget $20k? :moneyflies: -
The other thread very fierce, this thread more amiable…hoping my girls can grow up to be self sufficient and go earnestly find a job after graduation. Heard too many stories about grads unable/unwilling to find jobs still depend on F and M…
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tyeogh\" post_id=\"1937945\" time=\"1569572029\" user_id=\"94399:
Baby bonus cannot use right?[/quote]Believe the excess gets transferred to PSEA account after kid turn 6 years old - link below for easy reference.
It's already over $8K per year for the non-lab courses at local universities, and that's just fees alone. By the time your kids get to university, especially the youngest, it will have increased.slmkhoo\" post_id=\"1937907\" time=\"1569569486\" user_id=\"28674:
[quote=tyeogh post_id=1937713 time=1569557929 user_id=94399]I can only afford local. Told all my kids. No safety net. Dun make it, their funeral. No spoon feeding. So far, the elder 2 conscientious.
Intend to use CPF to pay. If not medicine, each child must budget $20k? :moneyflies:
https://www.babybonus.msf.gov.sg/parent/web/transfer-cda-to-psea-instruction?_afrLoop=2293847647614607&_afrWindowMode=0&_afrWindowId=18p02xwzdf_23#%40%3F_afrWindowId%3D18p02xwzdf_23%26_afrLoop%3D2293847647614607%26_afrWindowMode%3D0%26_adf.ctrl-state%3D18p02xwzdf_31 -
Imp75\" post_id=\"1937994\" time=\"1569577546\" user_id=\"2358:
Yes. I’m concern having heard too many parents coming to church asking for help. I was taken aback hearing abt boys who finish poly/uni not feeble abt landing a job but wld rather game all night & wake up late not able to reply to calls or attend interviews. Girls hv been lazy to wake up early but wld still asks for money to hang out with frds.
The other thread very fierce, this thread more amiable......hoping my girls can grow up to be self sufficient and go earnestly find a job after graduation. Heard too many stories about grads unable/unwilling to find jobs still depend on F and M.....
So, I was determined to ensure my kids learn lifeskills & in addition equip themselves with a strong mind to live purposefully.
Hv seen some relatives prefer to stay single & stay home past 40/50 not keen on bring independent or wish to marry & start their own families. Elderly mums still washing & ironing clothes after several feeble attempts to do themselves when parents fell & admitted to hospital. Sigh! -
Coolkidsrock2\" post_id=\"1938014\" time=\"1569580339\" user_id=\"48901:
Believe the excess gets transferred to PSEA account after kid turn 6 years old - link below for easy reference.
Baby bonus cannot use right?tyeogh\" post_id=\"1937945\" time=\"1569572029\" user_id=\"94399:
[quote=slmkhoo post_id=1937907 time=1569569486 user_id=28674]
It's already over $8K per year for the non-lab courses at local universities, and that's just fees alone. By the time your kids get to university, especially the youngest, it will have increased.
https://www.babybonus.msf.gov.sg/parent/web/transfer-cda-to-psea-instruction?_afrLoop=2293847647614607&_afrWindowMode=0&_afrWindowId=18p02xwzdf_23#%40%3F_afrWindowId%3D18p02xwzdf_23%26_afrLoop%3D2293847647614607%26_afrWindowMode%3D0%26_adf.ctrl-state%3D18p02xwzdf_31[/quote]Thanks! Uni so expensive.
$9k × 4 years honours = $36k per child
$36k x 4 = $144k
No govt subsidy. There goes my retirement plan to buy 3 room hdb lah. I feel like kena con by govt to have so many children..... -
Someone told me before…in SG you can loan to study but you cannot loan for retirement…
So we should cover ourselves for retirement first…kids as long as is local uni…they can loan tuition fee… -
tyeogh\" post_id=\"1938031\" time=\"1569582677\" user_id=\"94399:
Thanks! Uni so expensive.
Believe the excess gets transferred to PSEA account after kid turn 6 years old - link below for easy reference.Coolkidsrock2\" post_id=\"1938014\" time=\"1569580339\" user_id=\"48901:
[quote=tyeogh post_id=1937945 time=1569572029 user_id=94399]
Baby bonus cannot use right?
https://www.babybonus.msf.gov.sg/parent/web/transfer-cda-to-psea-instruction?_afrLoop=2293847647614607&_afrWindowMode=0&_afrWindowId=18p02xwzdf_23#%40%3F_afrWindowId%3D18p02xwzdf_23%26_afrLoop%3D2293847647614607%26_afrWindowMode%3D0%26_adf.ctrl-state%3D18p02xwzdf_31
$9k × 4 years honours = $36k per child
$36k x 4 = $144k
No govt subsidy. There goes my retirement plan to buy 3 room hdb lah. I feel like kena con by govt to have so many children.....[/quote]I took a bank loan for my local Uni fees. Parents no cpf or savings. I think I cleared within 2 or 3 years. -
So far, there’s one thing we didn’t purposely prepare for it, which is the kids’ university fees.
I have already told them before, they only have two options. Local university using CPF loan (like what I did) or if want to go overseas Uni then must be on scholarship.
DH doesn’t quite agree with my arrangements, he thinks if the kids are capable of getting into a prestigious overseas uni, even without scholarship, it is our duty to groom them. Anyway, that’s another topic for another day. -
For local U education, make it 10k per year and that would be 40k (for 4 yrs) if doing Honours.
This is still much cheaper than going overseas to study.
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