How much is enough for retirement in Singapore?
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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. -
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 too and we each have a separate property as well. Not so unusual after all. We have our own credits cards so we don’t have to “huh?!” each other’s individual purchases..
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] -
Funz\" post_id=\"2058800\" time=\"1644991337\" user_id=\"6230:
My children also had a couple of years of Chinese enrichment classes. It’s probably very common..
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.
It’s so nice to be running your own biz. I’ve been thinking about it .. lack of good ideas. Do you mind sharing a little about your biz and what drives you to do it? Thanks! -
MrsKiasu\" post_id=\"2058720\" time=\"1644931104\" user_id=\"43981:
About 200k per child. They can also get uni scholarships/grants, work during vacation or part time during term time. Builds character.
On the projection, still not sure how much needed for eg overseas studies..but more than 15 yrs ago, I read 1 projection of 600k for our child to study overseas wor..need or not? -
zac's mum\" post_id=\"2058789\" time=\"1644985857\" user_id=\"53606:[quote=\"zac's mum\" post_id=2058789 time=1644985857 user_id=53606]
I think he is v wise. What is life without any of those? Just getting by is quite sad..
DH, on the other hand, has more luxury tastes, so he has to budget for restaurant meals more often, plus branded clothes whatnot.[/quote] -
Zeal mummy\" post_id=\"2058705\" time=\"1644922946\" user_id=\"58173:[quote=\"Zeal mummy\" post_id=2058705 time=1644922946 user_id=58173]
Same here. I work and save hard for my golden nest early. I do not wish to retire and still have to worry about my next meal.
That’s the reason why we save, buy shares, annuities and properties. Slowly build up.. that golden nest. I don’t know but I think rental for a 2-3bedroom apartment is easily $2.5k, unless u wanna live in a room?[/quote]
I will not follow (May 2019) ST report that I need Min $1379 for retirement as that is the minimum sum a Singaporean needs. My lifestyle today cannot goes beyond subsistence living. I know it’s politically incorrect to say this, maybe $1379 is for security guards or cleaners.
I have stayed in hospital ward A and ward C before.
I know the difference. If I have cancer, I would prefer to seek private treatment to than queue up half a year for public healthcare.
We must know that in today, 65yo is like the new 55yo. If I am still fit and able, I will want to continue to drive (old Toyota is fine). I am ok with simple lifestyle but I do not wish to downgrade too much / too far off from my current lifestyle (like sell off my condo and move into a 3rm HDB to die there).
My MIL passed away at 90 and my grandma 93yo is still alive. Women can live longer than men. It’s ok to over cater a bit, what is left over, will pass it down to my children. -
Zeal mummy\" post_id=\"2058848\" time=\"1645005502\" user_id=\"58173:[quote=\"Zeal mummy\" post_id=2058848 time=1645005502 user_id=58173]
He went thru a very poor childhood, never having enough to eat etc. Hence now that he can afford it, he will treat himself (and us) to expensive things. Nothing wrong with that, he wants to enjoy life while he can (since u cant bring your money to the grave).
I think he is v wise. What is life without any of those? Just getting by is quite sad..[/quote]
On the other hand, I grew up in a rich family, never lacked for anything, had enough of that & dont mind living simply. Nothing wrong with that, i dont force myself to suffer unduly either.
On the shared finances, I think u need a lot of mutual trust in order to agree to it. Plenty of couples among my friends separate finances because “as a woman, u need to have some 私房钱” in case he divorces you, for your own pampering, etc…” But in my church circle during pre-marital counselling they said try not to go into marriage with the “backup” of divorce. Join as one/leave and cleave in all meanings of the phrase. -
Zeal mummy\" post_id=\"2058846\" time=\"1645005287\" user_id=\"58173:[quote=\"Zeal mummy\" post_id=2058846 time=1645005287 user_id=58173]
200k if no scholarship/grant, no part time job, will be enough?
About 200k per child. They can also get uni scholarships/grants, work during vacation or part time during term time. Builds character.[/quote] -
私房钱? my mom been teaching me that but I never follow…I could feel my mil unhappiness when she knows my dh put my name on our first car…my dh is the kind of person who will give most if not all to us if there is no change of love lol… when I gave many years of our early savings to my mom he let me…so what can I ask for…
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MrsKiasu\" post_id=\"2058855\" time=\"1645008797\" user_id=\"43981:
I always tell DH 财多身体弱 由我承担
私房钱? my mom been teaching me that but I never follow..I could feel my mil unhappiness when she knows my dh put my name on our first car..my dh is the kind of person who will give most if not all to us if there is no change of love lol.. when I gave many years of our early savings to my mom he let me..so what can I ask for..
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