How much is enough for retirement in Singapore?

[starlight1968sg]

MrsKiasu\" post_id=\"2059284\" time=\"1645326355\" user_id=\"43981:

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

For the case of sweet-corn, a 5 cts hike is 5/130 = nearly 4% increase :roll:

A tub of fish paste used to be $1.80 and now is $1.95. Calculate the % of increase :roll:

The little increase of many items adds up to a lot

[sharonkhoo]

starlight1968sg\" post_id=\"2059289\" time=\"1645326781\" user_id=\"14025:

For the case of sweet-corn, a 5 cts hike is 5/130 = nearly 4% increase :roll:

A tub of fish paste used to be $1.80 and now is $1.95. Calculate the % of increase :roll:

The little increase of many items adds up to a lot

True, but the upside is that the lowest income earners will get higher salaries, we will have more locals employed instead of foreigners, people will learn to cook from raw ingredients instead of consuming so much processed food, and more will learn to \"make do and mend\" instead of using up more resources. If we begrudge every price hike, then how are the lowest income to improve their standards of living? We may have to adjust what we consume (food as well as products), but at least we are not going to go hungry and homeless.

[sharonkhoo]

starlight1968sg\" post_id=\"2059280\" time=\"1645326082\" user_id=\"14025:

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?

Wages have gone up, and will continue to go up. Raw materials costs are usually not the main issue, but every person who produces, processes, packs, ships and delivers every item has to be paid. We all want economies to grow (or at least most want this), and prices will always go upin tandem. Wages keep going up too. My younger daughter's first paycheck last year was more than I earned after working 9 years in 1995 (we have essentially equivalent qualifications). There is no way to avoid that except to have a bad recession - but who wants prices to fall if it means a reduction in pay?

Retirees of the future will have a basic amount from CPF payouts, and those able to save and invest now will also have other savings to live on. I think most of us here don't spend everything we earn; for those who are not so fortunate, there will be some social handouts as well for the poorest, and hopefully family support. I think some of us have a rosy idea that retirement means living at leisure and in great comfort, perhaps even more comfortable than our current lifestyle - I think for most of us, that is unrealistic.

[zac's mum]

I think that’s why the financial analyst told us to factor in 5% inflation.

[starlight1968sg]

slmkhoo\" post_id=\"2059312\" time=\"1645336705\" user_id=\"28674:

I think some of us have a rosy idea that retirement means living at leisure and in great comfort, perhaps even more comfortable than our current lifestyle - I think for most of us, that is unrealistic.

a timely reminder.

[MrsKiasu]

Gardenia wholemeal burger buns used to be 1.80? Now $2.

[starlight1968sg]

MrsKiasu\" post_id=\"2059336\" time=\"1645355649\" user_id=\"43981:

Gardenia wholemeal burger buns used to be 1.80? Now $2.

This is 11% hike :yikes:
What can we do?

[MrsKiasu]

Milk, the (forever) discounted price at $5.95 will be gone soon??

[ChiefKiasu]

MrsKiasu\" post_id=\"2059341\" time=\"1645359048\" user_id=\"43981:

Milk, the (forever) discounted price at $5.95 will be gone soon??

What brand of milk you buy? I always get the Farm Fresh one at $5.10 or something like that. It tastes exactly like... milk

[MrsKiasu]

Those we usually see at ntuc… omega/farmhouse/meiji/marigold/greenfiels …

Anyways we drinking lesser now.