How much is enough for retirement in Singapore?
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lee_yl\" post_id=\"1938103\" time=\"1569594839\" user_id=\"17023:
Part of my retirement plans is to rely on CPF payout. At one point, was considering CPF Life ERS. But what if the payout age is extended beyond 65 say 70? Hence, may be good to diversify more.
If one needs some cash for an emergency, can consider to remortgage the property to take out some cash while still selling the house in parallel (never mind if it takes 9 months to find a buyer).Cloud Cloud\" post_id=\"1937623\" time=\"1569547595\" user_id=\"160688:[quote=\"Cloud Cloud\" post_id=1937623 time=1569547595 user_id=160688]Property is illiquid. Especially during downturn. Took me almost 9 months to sell one property.
Cpf only start payout from age 65. Ideal to have annuity fund which start payout from age 50 or 55.
No money for annuity plan now. All thrown into property.
Sudden termination of annuity plan to cash out the money, if I’m not wrong, will incur administrative charges and penalties. CPF Life does not allow for termination to cash out money, isn’t it also considered “illiquid”?
CPF Life is the only annuity plan backed by the our Govt. Am I right to say that no private annuity plan’s returns can beat CPF Life’s?
My money is also in property too. If I have extra cash, I will go for CPF Life Enhanced Retirement Sum.
I do not think I need another annuity plan to kick start when I’m 50yo as DH has no intention to retire that early.[/quote] -
I also cannot finalise will because on one hand, I believe she will be more able to make it, I will also like to ensure that she is financially secure enough to be a SAHM or walk away from a bad marriage, if she gets married. This is why I still follow the old school thinking of making her learn piano plus other musical instruments. Her safety net.
I worry a lot for DS if he can support a family. Not everyone can be a city boy and not everyone is suitable to be one. He is one of such. I hope he will be able to meet a good village girl who can support and help him grow. What we hope to leave as his share should be sufficient if his other half is a village girl. It will be very hard if he falls for a city girl.
Have come across such cases and wonder if it is really worth it. -
Cloud Cloud\" post_id=\"1938318\" time=\"1569677290\" user_id=\"160688:[quote=\"Cloud Cloud\" post_id=1938318 time=1569677290 user_id=160688]
Part of my retirement plans is to rely on CPF payout. At one point, was considering CPF Life ERS. But what if the payout age is extended beyond 65 say 70? Hence, may be good to diversify more.[/quote]What to do? When it comes to CPF, with the possibility of a delayed payout age always there, I also scared.lee_yl\" post_id=\"1938103\" time=\"1569594839\" user_id=\"17023:
If one needs some cash for an emergency, can consider to remortgage the property to take out some cash while still selling the house in parallel (never mind if it takes 9 months to find a buyer).[quote=\"Cloud Cloud\" post_id=1937623 time=1569547595 user_id=160688]Property is illiquid. Especially during downturn. Took me almost 9 months to sell one property.
Cpf only start payout from age 65. Ideal to have annuity fund which start payout from age 50 or 55.
No money for annuity plan now. All thrown into property.
Sudden termination of annuity plan to cash out the money, if I’m not wrong, will incur administrative charges and penalties. CPF Life does not allow for termination to cash out money, isn’t it also considered “illiquid”?
CPF Life is the only annuity plan backed by the our Govt. Am I right to say that no private annuity plan’s returns can beat CPF Life’s?
My money is also in property too. If I have extra cash, I will go for CPF Life Enhanced Retirement Sum.
I do not think I need another annuity plan to kick start when I’m 50yo as DH has no intention to retire that early.[/quote] -
Coolkidsrock2\" post_id=\"1938320\" time=\"1569678987\" user_id=\"48901:
My biggest fear is also my daughters cannot get over due to a bad marriage. My Friend said if her hubby ever goes into bankruptcy, boys can sleep at void deck but girls can't. So I hope to keep a 1bedder, can collect rental, can also be used by the DDs \"in case of emergency\". Lol.
I also cannot finalise will because on one hand, I believe she will be more able to make it, I will also like to ensure that she is financially secure enough to be a SAHM or walk away from a bad marriage, if she gets married. This is why I still follow the old school thinking of making her learn piano plus other musical instruments. Her safety net.
I worry a lot for DS if he can support a family. Not everyone can be a city boy and not everyone is suitable to be one. He is one of such. I hope he will be able to meet a good village girl who can support and help him grow. What we hope to leave as his share should be sufficient if his other half is a village girl. It will be very hard if he falls for a city girl.
Have come across such cases and wonder if it is really worth it.
As for boys, sometimes they just mature a little later. When the time comes, they can do it. My brother is earning a decent living, should be able to afford a 4room flat. One thing I don't like, he asked my parents to sponsor the downpayment for his Audi (not TV!). -
I used to pray 文昌 and 孔子 now I pray 月老
This is how worried I am. -
We only sponsored a bicycle (shared) and exposed them to cycling. And when we brought them to many shops to compare prices so that they can so the price differences and learn to compare and buy based on value.
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hercules\" post_id=\"1938313\" time=\"1569675878\" user_id=\"14947:
My family also practiced the 孔融让梨 . 1 drumstick will go into my mum's bowl and the other one always goes into my youngest brother's bowl.
I have never put this fair and unfair in my mind when I bringing up my two kids (2 years apart from each other). Both have 孔融让梨 spirit. Probably they have been conditioned to accept 'unfairness' as a way of life when I helped to take care of nephews and nieces younger than them when they were young (eg if there were only two drumsticks, they would be given to the oldest and the youngest ones sitting at the table and up to these two whether they wanted to give such away, meaning my nieces and nephews received 'better treatments' than them and probably they were 'immuned' from 'abuse').Coolkidsrock2\" post_id=\"1938305\" time=\"1569674014\" user_id=\"48901:
Believe that so long as they grow up sensibly, they will not squabble over the difference between what each is/is not given. As I have told kids, everybody is different and will walk their own path. They should chart their own path, not focus on what we give them.
Other than basic necessities, they thought of ways to make more money if they wanted to buy extras (holidays work since 16 yo).
When my girl was ready for overseas ed, I asked them I only had enough to send one of them and so how ah?
Son said, Jie should go coz she sure could do very well (my son didn't really like to 'study hard').
Girl said, Didi, after I graduate, I would support you if you want to go for overseas study as you are four years (NS) after me and so should have enough time.
I thot family members should work like this.
Huh? You have $2mil-$3mil worth of annuity plans yet you don't have money to send the other one overseas? Actually, I thought you would ask your kids to take up CPF loan as one of your 12 commandments is, \"no tuition and cheap preschools\".
Aiya, the situation now is that the Brother wasn't keen to study so let the sis go mah. But what if you have 2 or 3 or 4 kids who all wish to go overseas at the same time, then who will you pick? From a very pragmatic perspective, for a fresh grad who just returned to SG after completing his overseas studies, can he really afford to sponsor his sibling for an overseas education immediately? -
Coolkidsrock2\" post_id=\"1938340\" time=\"1569680876\" user_id=\"48901:
I used to pray 文昌 and 孔子 now I pray 月老 This is how worried I am.
Thanks! Good suggestion! Hubby says Toa Payoh 双林寺 has them all.
Then we can proceed to 拜送子娘娘 for many grandchildren. -
lee_yl\" post_id=\"1938286\" time=\"1569669706\" user_id=\"17023:
Wa lao eh. You think I print money at home ah?! Thanks slmkhoo and Mrs Kiasu for comments. Good food for thought!
My own suggestion, not sure if it’s good idea though, if you intend to allocate up to $200K to DC1 then be prepared to allocate $200K each for DC2, DC3, DC4 and so forth. If 2 out of 4 doesn’t require the money, then the two can use that $200K to offset their housing loans when they get married etc. Something like, want to give, give all, else all don’t give. -
lee_yl\" post_id=\"1938332\" time=\"1569680087\" user_id=\"17023:
This one champion lah. Win my younger bro. If I bring up a child like this, I would have failed them. Hope I can be heartless enough when my kids come to me with simi wonderful investment ideas when I old. Figure your own lives and grow up proper!
One thing I don't like, he asked my parents to sponsor the downpayment for his Audi (not TV!).
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