How much is enough for retirement in Singapore?

[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.

[Liew Nga Wing]

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

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?

Hi Star,
From reading your posts, I have the feeling you are thinking too much and too far and don't know why you always put yourself in an adverse position. :?

Frankly speaking, I believe you are in a much better financial position than me as you have better education and work and you are staying in a better house than me but it seems that your worry /complain/discontent to present situation is worsen than me.

Sometimes we cannot have \"everything came off satisfactory\" 事事如意， of course everyone has his/her own difficulties, but you may find that I usually talk about eating dinner and playing boardgames not the things that I worry even I am facing the same price increase (Inflation) problem as you. We need to be happy in our life not worry in our life.

I know you are worrying whether got enough money after your retirement but it is at least 10 years later...why you need to worry now? When I think of my life after retirement, I always remember the Buddish Philosophy \"色即是空\"，you may check the full meaning via Google, then I won't worry.

In summary, I hope your life is full of happiness not worry, complain, discontent or any negative thinking.

[peasants]

Liew Nga Wing\" post_id=\"2059349\" time=\"1645374472\" user_id=\"195250:[quote=\"Liew Nga Wing\" post_id=2059349 time=1645374472 user_id=195250]

When I think of my life after retirement, I always remember the Buddish Philosophy \"色即是空\"，you may check the full meaning via Google, then I won't worry.[/quote]

Fully support :goodpost:

[lee_yl]

Liew Nga Wing\" post_id=\"2059349\" time=\"1645374472\" user_id=\"195250:[quote=\"Liew Nga Wing\" post_id=2059349 time=1645374472 user_id=195250]
Hi Star,
From reading your posts, I have the feeling you are thinking too much and too far and don't know why you always put yourself in an adverse position. :?

Frankly speaking, I believe you are in a much better financial position than me as you have better education and work and you are staying in a better house than me but it seems that your worry /complain/discontent to present situation is worsen than me.

Sometimes we cannot have \"everything came off satisfactory\" 事事如意， of course everyone has his/her own difficulties, but you may find that I usually talk about eating dinner and playing boardgames not the things that I worry even I am facing the same price increase (Inflation) problem as you. We need to be happy in our life not worry in our life.

I know you are worrying whether got enough money after your retirement but it is at least 10 years later...why you need to worry now? When I think of my life after retirement, I always remember the Buddish Philosophy \"色即是空\"，you may check the full meaning via Google, then I won't worry.

In summary, I hope your life is full of happiness not worry, complain, discontent or any negative thinking.[/quote]

Everyone’s different and the way they look at money is also different.

I also belong to those who overly worry so I overbuild my nest egg rather than to under cater for it.

Like the price of a 2pc corn from ntuc climbed from 90cents to a recent high of $1.35, that’s a 67% increase. So within that short span of few years, did your retirement fund grow 67%?

I think Starlight is approaching her retirement age soon. I know quite a handful of ksp mummies here (incl my SIL) had expressed that they do not wish to work after they retire (don’t like current work/ boss/ stress etc) and if possible, even hope to retire sooner than later. Then in this case, if inflation is going up at such a fast and furious pace, really have no choice but to push back the retirement age.

If we can’t afford to retire early, how do you think the low income families are coping?
There was this auntie who worked as a cleaner at our estate during the day and at night, she would take on a second job as a cleaner in TTSH. Her husband suffered stroke and she had to employ a helper to take care of her husband. This group of low income breadwinners often need to hold 2 jobs even in their advanced years.