How much is enough for retirement in Singapore?

[starlight1968sg]

esteema

am quite mad with the price hike of essential items even before the hike of GST.
packets of veg used to be 60 cts or 70 cts, now is easily $1 or even more, just to name a few.

I am always skecptical when some said the prices of some essential items are kept affordable …

How much is enough for retirement?

[sushi88]

starlight1968sg\" post_id=\"2059274\" time=\"1645323101\" user_id=\"14025:

esteema
am quite mad with the price hike of essential items even before the hike of GST.
packets of veg used to be 60 cts or 70 cts, now is easily $1 or even more, just to name a few.

I am always skecptical when some said the prices of some essential items are kept affordable ...

How much is enough for retirement?

The price for prawns and fish definitely has gone up. I was not sure if they were up only for CNY but apparently still up.
Also the deli at NTUC, the roasted items cost has also gone up in the middle of pandemic...the roast chicken previously $7.90 is now $8.90. And the rising cost was felt sharply because when we bought a few items only and they were the regular items we buy, the risen cost could be felt immediately.

[sharonkhoo]

MyPillow\" post_id=\"2059250\" time=\"1645278901\" user_id=\"70594:

after grad at 23 yo work to 65 , already 42 yrs of working, then work some more , alamak is this Life .. would need a break in between then mayb career switch to less demand task

If you enjoy or find purpose in your work, it won't feel as bad. But even so, some break(s) or changes are needed to be able to go on for 40 years. I worked 10 years after graduation, worked 17 years as a SAHM and odd-job person, then PT/freelance for the past 8 years. My hope is to carry on for the foreseeable future (10 more years?), and freelance is fairly adjustable depending on how hard I want to work. My career choices have not led to much progression or income since we also lived in other countries and I was basically following my husband around, but breaks and changes in Singapore, carefully chosen, could make for a reasonably paid and enriching working life.

[starlight1968sg]

sushi88\" post_id=\"2059277\" time=\"1645324079\" user_id=\"100857:

The price for prawns and fish definitely has gone up. I was not sure if they were up only for CNY but apparently still up.
Also the deli at NTUC, the roasted items cost has also gone up in the middle of pandemic...the roast chicken previously $7.90 is now $8.90. And the rising cost was felt sharply because when we bought a few items only and they were the regular items we buy, the risen cost could be felt immediately.

Am not alone and this is my main grouse.
While i understand that the cost of raw materials etc has risen and hence the price of products has to go up etc, is there an end to this?
The govt, in the recent Budget, announced measures to help the majority to cope with the rising cost of living. Are these measures effective though it is definitely better than nothing?

I am still working and hence I can still tolerate the various hikes. For those low or no income including the retirees, how to cushion such hikes? My conclusion will be to work as long as I can but am I going to work for my whole life? I started working in 1991 and have worked more than 30 years. How many 30 years does one have?

[MrsKiasu]

Min salaries for work passes, prices up for fuel maybe also the transportation/delivery charges due to covid plus gst…healhcare exp/taxes…looks like one way ticket…

[starlight1968sg]

MrsKiasu\" post_id=\"2059281\" time=\"1645326103\" user_id=\"43981:

Min salaries for work passes, prices up for fuel maybe also the transportation/delivery charges due to covid plus gst..healhcare exp/taxes..looks like one way ticket..

Have we encountered petrol prices, bus/mrt fares etc gone south?

[MrsKiasu]

So that’s why use 3.5% annually for BRS calculation so that can get higher payout…

[MrsKiasu]

starlight1968sg\" post_id=\"2059282\" time=\"1645326234\" user_id=\"14025:

Have we encountered petrol prices, bus/mrt fares etc gone south?

Remember many years back, 1 tray egg price up, 1 prata up by 10ct..1kg sugar up, coffee up by 10ct..seriously :faint:

[MrsKiasu]

And looks like this is multiple ! Let’s hold on tightly else will get spin off.

[MrsKiasu]

Slowly we may go towards voluntary diet and do more exercise lol.