How much is enough for retirement in Singapore?
-
zac's mum\" post_id=\"2130296\" time=\"1709630635\" user_id=\"53606:[quote=\"zac's mum\" post_id=2130296 time=1709630635 user_id=53606]
at times i want to retire NOW :evil:
Are u happy to delay your retirement? Or rather stick to current retirement age?[/quote]
I am glad that there are options if I wish to retire later. -
starlight1968sg\" post_id=\"2130298\" time=\"1709630751\" user_id=\"14025:
Retirement is an acknowledgement of the inevitable. I want to feel young forever. The husband of one of the patients in the hospital I visit twice every week is 85. And yet he is extremely fit and visits his invalid wife every day! I think he walks just as fast as me
at times i want to retire NOW :evil:
I am glad that there are options if I wish to retire later.
, and takes the train to Changi Airport every day to walk and \"enjoy the aircon\". He is my role model!
-
Extension of retirement age has much impact on us? No G pension. Anyone can to retire at any age. With extended retirement age, it is kind of give more advantages to the older us next time, if we want to retire later, in the corporate world, am I correct?
-
ChiefKiasu\" post_id=\"2130337\" time=\"1709690603\" user_id=\"3:
Knowing someone older than us with much energy and motivation, my role model too.
Retirement is an acknowledgement of the inevitable. I want to feel young forever. The husband of one of the patients in the hospital I visit twice every week is 85. And yet he is extremely fit and visits his invalid wife every day! I think he walks just as fast as me, and takes the train to Changi Airport every day to walk and \"enjoy the aircon\". He is my role model! -
MrsKiasu\" post_id=\"2130338\" time=\"1709691271\" user_id=\"43981:
As far as I can see, the retirement age is just a guideline. I know people who are continuing to work beyond that age because their employers need their skills and experience, and they are happy to continue. Other choose to retire before the retirement age for various reasons. I don't see that anyone can be forced to work till retirement age or beyond if they don't want to. And for those who would like to work as long as possible, pushing the re-employment age and retirement age is in their favour, as long as their skills are still relevant and useful.
Extension of retirement age has much impact on us? No G pension. Anyone can to retire at any age. With extended retirement age, it is kind of give more advantages to the older us next time, if we want to retire later, in the corporate world, am I correct? -
ChiefKiasu\" post_id=\"2130337\" time=\"1709690603\" user_id=\"3:
Isn't that just self-delusion? After all, the inevitable is inescapable. And we are already not feeling young, otherwise we wouldn't need to talk about it!
Retirement is an acknowledgement of the inevitable. I want to feel young forever.
I think we should change our understanding of \"retirement\" - it used to mean \"stop working for money\". But I think many of us don't want such a stark end-date to working life. Certainly my husband and I have decided that we don't see \"retirement\" as a single event in our future (or at least not in the near future); rather we see a gradual reduction in working hours, and a change in the type of work we might do. And even if we stop paid work, we would want to continue working as a volunteer, or in the home. I guess there may well be a time when we hit a final \"retirement\", but hopefully that will be very close to the end of life. -
Many yet to save enough and hence better to work and work …
Is this true?
When is enough means enough? -
starlight1968sg\" post_id=\"2130342\" time=\"1709692355\" user_id=\"14025:
There are many who haven't saved enough, and CPF Life alone will keep food on the table, but maybe not a whole lot more. Especially those who are older and have not been able to save enough.
Many yet to save enough and hence better to work and work ...
Is this true?
When is enough means enough?
When is enough enough? Have you considered how much you need to live on? Then add something for inflation and treats. You must already have medical insurance. Assess what you will get from CPF Life, other investments, how much savings you have. Also consider that some costs may go away - transport costs may reduce, your child may move out, you won't need to support parents by then, etc. Once you have some figures in mind, you will be able to see if you have barely enough, not enough, enough plus 50% etc. Each person will have to decide how much is enough, and how much buffer they want to have. The problem with not having a number in mind is that the fear that drives accumulation will never go away. If you are like me and can't handle numbers, ask someone else to help!
Another thing which drives people to fear that they will not have enough is that \"enough\" grows in their minds - they want to live in greater luxury than when they were working, travel incessantly at the highest level, etc. If you can be satisfied with a moderate lifestyle with a few treats, then you will reach \"enough\" sooner. -
MrsKiasu\" post_id=\"2130338\" time=\"1709691271\" user_id=\"43981:
Let me try to explain the extension of retirement age since I am working full time with the Government. My employment contract stated my retire age to be 62 with all the employment terms such as medical, leave benefits, etc, this mean I can enjoy these terms and benefits until I am 62 year old.
Extension of retirement age has much impact on us? No G pension. Anyone can to retire at any age. With extended retirement age, it is kind of give more advantages to the older us next time, if we want to retire later, in the corporate world, am I correct?
Then, once I reach 62 year old (will be 64 in Year 2026), the company may decide whether to continue employ me or not, if they are willing to let me stay, I will become a contract worker and the company will prepare a new contract for X? (maybe 7 years since the re-employment age is 69) number of years with a different set of employments terms and benefits - usually it is worse than the previous employment terms. It is depend on whether I want to accept these new terms and benefits stated in my new contract. If I accept, then I will continue to work until the expiry date of the contract with this new sets of remuneration. -
slmkhoo\" post_id=\"2130341\" time=\"1709692103\" user_id=\"28674:
Shh... nobody needs to know... :rotflmao:
Isn't that just self-delusion? After all, the inevitable is inescapable. And we are already not feeling young, otherwise we wouldn't need to talk about it!
...
Going for a walk soon... I'm a young 58yo man! :nunchuk:
Hello! It looks like you're interested in this conversation, but you don't have an account yet.
Getting fed up of having to scroll through the same posts each visit? When you register for an account, you'll always come back to exactly where you were before, and choose to be notified of new replies (either via email, or push notification). You'll also be able to save bookmarks and upvote posts to show your appreciation to other community members.
With your input, this post could be even better 💗
Register Login
Online Users
Statistics
Popular Topics