How much is enough for retirement in Singapore?
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slmkhoo\" post_id=\"2130370\" time=\"1709708527\" user_id=\"28674:
Think the difference is I took corporate setting as my reference point. When I volunteer, I don’t expect to be paid. That is my actualization if I can purely contribute to a meaningful work that I believe in doing, so I’ll hv no regrets.
It depends on the type of volunteer work. My volunteer work has deadlines too, though because I work part-time, not as tight as if I worked full-time, I guess. I think my work is done well, and I don't mind that the appreciation is not in monetary terms (and they can't give me less if they think I'm not performing decently). But none of my workplaces have been very dynamic or high-pressure (library, publishing, non-profit), so I think the contrast of paid vs unpaid work for me is less than for you! -
Estéema\" post_id=\"2130371\" time=\"1709709223\" user_id=\"66413:
施比受更有福.
Think the difference is I took corporate setting as my reference point. When I volunteer, I don’t expect to be paid. That is my actualization if I can purely contribute to a meaningful work that I believe in doing, so I’ll hv no regrets. -
https://www.straitstimes.com/business/spotlight-on-options-to-supplement-income-in-retirement-as-super-ageing-looms-in-s-pore
\"While CPF Life, MediShield Life and CareShield Life take care of the basics, a person will need more money for retirement if he aspires to a higher standard of living\" -
starlight1968sg\" post_id=\"2135061\" time=\"1718416067\" user_id=\"14025:
How much money is considered as enough? :?
https://www.straitstimes.com/business/spotlight-on-options-to-supplement-income-in-retirement-as-super-ageing-looms-in-s-pore
\"While CPF Life, MediShield Life and CareShield Life take care of the basics, a person will need more money for retirement if he aspires to a higher standard of living\" -
Liew Nga Wing\" post_id=\"2135066\" time=\"1718423063\" user_id=\"195250:[quote=\"Liew Nga Wing\" post_id=2135066 time=1718423063 user_id=195250]
Look at how much you spend now, less work-related costs, plus extra costs of whatever you might do in retirement. Minus an amount if you are intending to lower your standard of living in retirement. Add medical costs not covered by insurance, and inflation. That will give you a ballpark idea.
How much money is considered as enough? :?[/quote] -
Liew Nga Wing\" post_id=\"2135066\" time=\"1718423063\" user_id=\"195250:[quote=\"Liew Nga Wing\" post_id=2135066 time=1718423063 user_id=195250]
There is no answer to this qn.
How much money is considered as enough? :?[/quote]
The medical expenses and inflation are the main concerns during retirement.
My routine annual gynae checks, eye checks etc cost each easily $100+ at NUH as subsidized patients.
As for inflation, nobody is immune to it. -
starlight1968sg\" post_id=\"2135068\" time=\"1718424475\" user_id=\"14025:
If you already have an insurance policy cover most of the illness, then should not be too worry on medical expenses. For inflation, usually interest rate will rise during inflation era and if we have some saving, the interest may cover part of the prices increase.
There is no answer to this qn.
The medical expenses and inflation are the main concerns during retirement.
My routine annual gynae checks, eye checks etc cost each easily $100+ at NUH as subsidized patients.
As for inflation, nobody is immune to it.
I am not a rich person but I seldom worry about whether got enough money for retirement or at least I usually don't talk this topics with others. I believe in Singapore, most people have a house to stay, if no food to eat, then go 居士林 for free vegan meal. If boring, can go CC for activities, why need to worry? -
I think I will feel more relax when kids are out to work. We 2 old ones can work and earn a little here and there should be fine ba. Actually when kids start working, there will be additional income earner at home…by right should have lesser worries?
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Outpatient bills are not covered by medical insurance. Hence they hv to be paid out of pocket.
Yes, when kids started working, there is lesser financial burden and shld hv lesser worries. -
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