How much is enough for retirement in Singapore?
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Sun_2010\" post_id=\"2059426\" time=\"1645442015\" user_id=\"18393:
My daughters graduated when I was 57, and I just turned 58. I can't imagine stopping work now - in fact, when I have lulls in my work, I find myself getting rather restless and bored. I chose not to work at a very high intensity to leave some capacity in case one daughter needed more help, and I'm passing on some work to younger colleagues, leaving me with a comfortable workload now. And my freelance work is quite adjustable. We live simply and I have never earned a high salary, so not having plenty is nothing new to me.
So true.One can always retire earlier if one wants to . As I get older , 55 seems too young to retire. I am not too far from it, DH is about there, if we had to retire at 55, might be a little hard to maintain the quality of \"retired\" life. 62 seems nice, right now.
That said , we are living in an age when the quality of life, standard of living is better than in the past. Ironically, one of our fears as we age is what if I live too long? Maybe I am becoming aware of it now, living to my nineties :scared:
I also fear living into my 90s - my grandmother did, and my mother is in her mid-80s and in pretty good health although we can see things \"wearing out\". While Chinese like to wish each other long life, I think I would like \"long\" defined as 70+, not 90+! My grandmother was a widow for about 20 years, and suffered dementia in her last decade or longer - very stressful for her and the whole family. -
For me, I don’t think inflation rate or whether I will live until 90+ or need to work until 65 year old, etc are important issues. The most important things is - how to control my "Clinging" to present material life and whether I could lower my standard of living any time. Of course it is a personal choice for different persons.
However, I don’t think it is worthwhile for me to worry and anxious for how much money for retirement. -
I am also the type who do not worry much. Living simple can get by here as our heartland living style can still accommodate that as of now but I must echo what lee_yl mentioned before, this is a place that \"can die but cannot be sick\".
It's not about living luxuriously, it's also about being able to foot the bills for the healthcare and nursing cost if one needs to be looked after at old age. That's what the govt would appreciate if we think about this. Of course, ideally is to grow old without sickness and die simply of old age.....system shutdown in the sleep.....that's the best way to go
When I think harder, people worry for different reasons and hence need a retirement plan:
1. There are parents who do not want to burden their children, so having a retirement plan seems like a good thing to do to ensure that. That's what loving parents do, care for their kids until the end, even living under the same roof.
2. The other reason of course is if there are really no one who can care for them(some even who has kids but they are residing all over the world except here), then they have to care for themselves. Especially if one spouse is gone, the other would be alone. Inevitably, it would be a time to move themselves to a place where the old folks can live under one roof and look after each other. It may not be an old folks home per se but perhaps a Senior Folks Habitat/Village where able-bodied old folks look out for one another and play board games everyday? Pooling of resources and relying on one another emotionally?
So for such issues, it is easier to think about when the mind and body is still young but I agree that worry is no use, just plan for it. -
Think too much or too little may not be good…best is to have a balance, I guess but sometimesnot easy to find…talking abt this makes me think of my elder 2 generations…they live relatively simple life and the common trait I see them now is they have/keep more than what they need (monetary side)…guess being prudent ba…
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Growing old means having some illness which will need medicine regularly
This expense is hard to predict
I am into ‘can die but can’t fall sick’ -
starlight1968sg\" post_id=\"2059451\" time=\"1645494743\" user_id=\"14025:
Unfortunately, that is something that we cannot predict and control. In fact, the aims are contradictory - to keep well, we take precautions (healthy lifestyle, etc) to avoid falling sick. But that probably means we are less likely to get a catastrophic illness which leads quickly to death. And modern medicine is so good now - they can keep a person alive much longer, but not always in good health.
Growing old means having some illness which will need medicine regularly
This expense is hard to predict
I am into 'can die but can't fall sick' -
starlight1968sg\" post_id=\"2059268\" time=\"1645316185\" user_id=\"14025:
a lot of things has gone up in price since start of 2022, then again during CNY, probably 20~30% total.
Each trip to ntuc, I am sure to find prices of items gone up. FP sweetcorn used to be $1.30 and now is $1.35.
If there's something that didn't go up as much, you have to check if they shrink the packaging. My donki tonkatsu is now much thinner :sad: -
The burger and chicken are getting smaller despite same prices…
So am not alone to notice the prices of items have gone up -
The half size slice of cheese in fish burger has been quite sometime right…
Seriously, now when buy nasi lemak at 3.50 considered cheap?? … I m still living in my past lor. 3 packets I can have kampong chicken with ingredients for 2meals. -
slmkhoo\" post_id=\"2059433\" time=\"1645448247\" user_id=\"28674:
Life beyond 80s is rather scary. Unless one still have a lot of energy in them, and still surrounded by their loved ones, there is so little to live for.
I also fear living into my 90s - my grandmother did, and my mother is in her mid-80s and in pretty good health although we can see things \"wearing out\". While Chinese like to wish each other long life, I think I would like \"long\" defined as 70+, not 90+! My grandmother was a widow for about 20 years, and suffered dementia in her last decade or longer - very stressful for her and the whole family.
Worse would be when you go to the doc and they tell you that your this and that organ is working only at xx%, or you have a major health issue but too old to be operated upon. You know you are going but have no idea when...just waiting.... :sad:
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