How much is enough for retirement in Singapore?
-
See NBM’s calculated amt of 700k, can feel stress level suddenly go down lol. Since we were young, we got fed info of need a million to retire. That’s why I asked abt the projected 600k for overseas studies? Just imagine, minus the profits in property that some of us lucky enough to be able to earn in our generation… maybe can take quite a portion out of ppl having million in savings? I just guess only…
And 5.5k for retiree should be considered at higher end ba…I just think there may be quite a numbet families living with young kids at maybe lower than that.
What I think is we just try to save/invest however much we could and don’t feel overly stressful of having too little during our retirement coz that is what best done already.
I believe there are options of go for basic or premium necessities/wants. But not to say till need to collect cardboard or sell tissues la…unless we find that is our way to exercise or keep ourselves in touch with the society… -
Hahaha talking about setting aside overseas education funds etc…has anyone ever calculated how much money we hv spent on tuition all these years for our kids and wonder that equates to an overseas uni education or not Hahaha and whether those payoffs are worth it or not.
-
Imp, that definitely alot of money…our side considered more to the controlled side (I guess), dd1 starting 5th yr tuition for 2 subjects and dd2 starting her 2nd yr tuition for 2 subjects.
-
MrsKiasu\" post_id=\"2058796\" time=\"1644989830\" user_id=\"43981:
Haha , I worked abt it before too, so stick to reasonable tuition when needed.
Imp, that definitely alot of money..our side considered more to the controlled side (I guess), dd1 starting 5th yr tuition for 2 subjects and dd2 starting her 2nd yr tuition for 2 subjects.
If high side fr P5 to A level , $1000 plus per month , 8 yrs abt $100k, hmm,,, then mayb equiv go aust for a basic degree le? And Ang mo company like Ang mo degree too ? Which is more value for money
-
MyPillow\" post_id=\"2058797\" time=\"1644990458\" user_id=\"70594:
So expensive the tuition rate..and it is a group tuition somemore..and cannot imagine A lvl tuition rate, don't know if could reach there tho :razz:
Haha , I worked abt it before too, so stick to reasonable tuition when needed.
If high side fr P5 to A level , $1000 plus per month , 8 yrs abt $100k, hmm,,, then mayb equiv go aust for a basic degree le? And Ang mo company like Ang mo degree too ? Which is more value for money
I dread to think after O
To OT abit, I got to pull the dad into the picture to give lecture to the 2..so last night was dd2's turn. daddy gave lecture, dd2 feel guilty cried to sleep and daddy almost midnight told me he feel heartache for giving her lecture asked me kiss her on behalf..losing focus, both kids and I :spank: -
We did not spend that much for tuition. Chinese for DD & DS in Pr sch. For DD Math for P6 and sec 3&4. Think about $50-60K for both of them combined.
For retirement, I have been working towards about $3-4K/mth for myself. I do not think I will be retiring at 65 though. I will likely continue running my biz for as long as the biz is doing well and my health permits.
DH is also working along that amount. Somehow since day 1, we manage our finances quite separately. We do have a joint account where we put aside money for household expenses but other than that, we manage everything else separately including our retirement plans. We do have an idea of what each is planning but that is about it. -
Funz\" post_id=\"2058800\" time=\"1644991337\" user_id=\"6230:
Separate accounts is probably the norm.
We did not spend that much for tuition. Chinese for DD & DS in Pr sch. For DD Math for P6 and sec 3&4. Think about $50-60K for both of them combined.
For retirement, I have been working towards about $3-4K/mth for myself. I do not think I will be retiring at 65 though. I will likely continue running my biz for as long as the biz is doing well and my health permits.
DH is also working along that amount. Somehow since day 1, we manage our finances quite separately. We do have a joint account where we put aside money for household expenses but other than that, we manage everything else separately including our retirement plans. We do have an idea of what each is planning but that is about it.
Mine is fairly unusual in that all our finances are joint. We only have split ones like credit cards etc to leverage on the points/rewards. And separate properties to avoid ABSD. All finances are shared and no secrets. DH manages the investments (since that’s his strength & interest) but will consult me as and when want to make changes. Not that I can provide technical advice but nice to have open communication. -
Ours are combined also.
-
zac's mum\" post_id=\"2058811\" time=\"1644994174\" user_id=\"53606:[quote=\"zac's mum\" post_id=2058811 time=1644994174 user_id=53606]
Ours are combined to. Our credit card and phone bills are billed to the joint account as well. We only own 1 (HDB) property which is joint. My husband also handles all the finances - he's numerate and I'm not, and he's interested and I'm not (I trust him, I guess, otherwise I would have to be interested!). He tells me what he's doing with our money, but I probably only understand and remember <50%.
Separate accounts is probably the norm.
Mine is fairly unusual in that all our finances are joint. We only have split ones like credit cards etc to leverage on the points/rewards. And separate properties to avoid ABSD. All finances are shared and no secrets. DH manages the investments (since that’s his strength & interest) but will consult me as and when want to make changes. Not that I can provide technical advice but nice to have open communication.[/quote]
Looking back, we went into this because we didn't think about doing it differently. My parents have joint finances too, and my mother-in-law was a widow from early on. But I wouldn't advise young couples to do this unless they have very similar spending and saving patterns - it's too easy for this to become an issue to argue about. -
I think depends on what both the couple comfortable with ba. If they want to join then join else it is ok to manage separately. Maybe coz dh and I known each other before came out to work and before marriage already calculating how much in total to emptied out our bank accts to buy our hdb and so on.
So we never give any thought of having different accts that we can’t touch except those that he committed in some investment… I have no restrictions in using the money same as for him too. I guess there is a trust there and he knows I m ‘careful’ with money ba. He asked me to manage the money tho I can totally disregard at times.
Hello! It looks like you're interested in this conversation, but you don't have an account yet.
Getting fed up of having to scroll through the same posts each visit? When you register for an account, you'll always come back to exactly where you were before, and choose to be notified of new replies (either via email, or push notification). You'll also be able to save bookmarks and upvote posts to show your appreciation to other community members.
With your input, this post could be even better 💗
Register Login