How much is enough for retirement in Singapore?

[lee_yl]

MrsKiasu\" post_id=\"2059003\" time=\"1645136345\" user_id=\"43981:

Can take from the 28/day kept aside.

$1500 per pax per mth. That’s $48 per day.

$20 per day for 3 meals
$28 per day for basic necessities.

$28 over 31 days that’s $800+ per month. Is $800+ per month enough to cover SP bills, handphone bills, soap power, toilet paper, transport cost, insurance etc ?? Btw, if cook more, utility bills also higher

And if can’t walk, need sit wheelchair, may need a helper, all will come from the $28/per day budget.

[Nasi Lemak]

Pyap\" post_id=\"2058969\" time=\"1645089239\" user_id=\"196803:

Hi starlight
We eat simple like hawker fare and home cook food. Never buy branded items. Only frequent restaurant maybe once a month which cost around $100. Thus retirement will not be much difference as we already used to simple lifestyle.

We are relying on cpf payout. Already meet FRS. If necessary, will downgrade to a smaller unit. Simply lifestyle. No need to pay for kids tuition, should be enough.

Looking at my parents lifestyles, they don’t really spend much.

[Pyap]

3000 is really basic needs. The extra 2k can used for savings towards travel or meet restaurants cravings or even maintenance etc.


Alongway, some endownment policy mature and serve as backup so that no need to sell invest ppty.

If bo bian last resort, sale of invest property should give return of 1mil after loan deduction.
500k per person to last remaining 20 years should be enough. Another option to rent out extra rooms in own stay home or use lease buyback.

[MrsKiasu]

lee_yl\" post_id=\"2059012\" time=\"1645139987\" user_id=\"17023:

$1500 per pax per mth. That’s $48 per day.

$20 per day for 3 meals
$28 per day for basic necessities.

$28 over 31 days that’s $800+ per month. Is $800+ per month enough to cover SP bills, handphone bills, soap power, toilet paper, transport cost, insurance etc ?? Btw, if cook more, utility bills also higher

And if can’t walk, need sit wheelchair, may need a helper, all will come from the $28/per day budget.

My fig based on healthy retiree couple..PUB/food sharing got synergy. If need helper I think another level liao..food for 3pax. Basic necessities like shower cream/shampoo need buy separately le.

Many will have CPF ..if FRS think abt 1.5k payout if I remember correctly. On top of that savings, for some insurance annuity, passive income like rental, part time job.

Some will need more in order to be comfortable or just want to have more savings on top of the basic coz some of us are very careful person need to cater for many more expenses. Understandable..I m one of them too lol..

[Pyap]

Zealmum

Private insurer annuity. I prefer diversified risk, hence previously instead of topping up to meet enhanced retirement sum, i bought from insurer to complement my cpf frs.
The pro is i could choose which year to start the private insurer annuity payout ( earlier than age 65 cpf life ). The yearly payout can either be put back into cpf to earn 2.5% or remain in the annuity to earn interest. Is flexible

Lately as i approaching age 55, i made a decision to pump in more cash into cpf via property refund to earn 2.5%. Treat it like a fixed deposit untouchable until age 55. But this only works if your ord plus special cpf already meet frs. At age 55… amount in excess of frs can then be withdrawn.

[MrsKiasu]

Did you all do a balance sheet as in take count of your net assets. For our gen due to property…I just guess arh…many would have reached 2nd tier of the figures at top of this thread?

[Pyap]

Agree Nasi lemak


So long as we have property
Options are open… rent out… downgrade… leasebuyback

Unless property prices dip significantly… then 完了

[MrsKiasu]

Pyap\" post_id=\"2059018\" time=\"1645142907\" user_id=\"196803:

Agree Nasi lemak

So long as we have property
Options are open.. rent out.. downgrade.. leasebuyback

Unless property prices dip significantly.. then 完了

From the earlier rounds..sorry didn't pay attention to the current property related stuffs.. few hundred thousands up and down can be fast de on paper. Personally I feel those buy and let go to catch the profit are smart people. Sadly I m not.

To add: those based on history data only la..

[Pyap]

Mrs Kiasu


Even if you miss the boat of buy and sell property, so long as you have enough to cover your needs and a roof over head. You are doing well. Cheers

[MrsKiasu]

Pyap\" post_id=\"2059022\" time=\"1645143911\" user_id=\"196803:

Mrs Kiasu

Even if you miss the boat of buy and sell property, so long as you have enough to cover your needs and a roof over head. You are doing well. Cheers

Not my money will not go into my pocket .. yup just be contented