How much is enough for retirement in Singapore?
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Apart from medical expenses and inflation, dont forget dental expenses.
I visit the dentist for simple teeth scaling and polishing at Woodlands Polyclinic twice a year. Each visit costs about $65. -
MyPillow\" post_id=\"2135149\" time=\"1718700193\" user_id=\"70594:
Our asking for a contribution is for a teaching purpose, not because we actually want their money. So we are quite happy if they stop contributing once they move out. We've always told them that we have saved and invested to support ourselves, and are prepared to live on what we have. I have confidence that they will help us if we need it.
i think once they get married or attached, also need to see their financial situation as adult kids need to save up for housing, medical bill, savings/investment , future children, retirement etc their expense gona be much higher than my era/time -
slmkhoo\" post_id=\"2135157\" time=\"1718703588\" user_id=\"28674:
Actually just curious. You financed your eldest to study at Oxbridge. Do u expect her to repay you back because it is not a small amount and would have eaten into your retirement nest. And with the Oxbridge degree, did she consider getting a higher paid job than the current one? I am assuming all Oxbridge grads should be fairly easy to get high paying jobs in UK and SG.
Our asking for a contribution is for a teaching purpose, not because we actually want their money. So we are quite happy if they stop contributing once they move out. We've always told them that we have saved and invested to support ourselves, and are prepared to live on what we have. I have confidence that they will help us if we need it. -
Imp75\" post_id=\"2135218\" time=\"1718776241\" user_id=\"2358:
No, we regard it as part of what we provide as parents (and grandparents helped). If we had felt that our retirement was going to be severely compromised, we would have asked her to find additional funding for herself or study locally. My parents paid for my overseas studies too, and didn't even accept any regular contribution while I was living at home. I guess we see it as \"paying it forward\". In fact, we keep tabs on what we spent on this daughter, and will help our other one when she needs it, probably to buy a flat when she reaches 35. And it's not that we are very rich, as I'm sure many families on KSP have more - but we live simply, have saved, and plan to work for as long as we can.
Actually just curious. You financed your eldest to study at Oxbridge. Do u expect her to repay you back because it is not a small amount and would have eaten into your retirement nest. And with the Oxbridge degree, did she consider getting a higher paid job than the current one? I am assuming all Oxbridge grads should be fairly easy to get high paying jobs in UK and SG.
When we discussed jobs, we told our daughter that she should go with her interests, while also considering what standard of living she wanted! I guess if she had opted to earn under $2K a month, say, I would have been concerned. She started at around the median for her course and degree (I think!), but less than the top end, so she won't starve. She's a sensible sort and didn't get drawn into the high-spending lifestyle. She chose not to apply for high-paying finance/consulting jobs and we're fine with that. I did the same after I graduated (although my father wasn't quite as calm about it) - but he didn't ask for his money back!
We were discussing internships on the other thread - my daughter did a short internship in a financial institution, and a longer one in a consulting company during her university vacations. After those, she decided that she couldn't see herself in either of those careers! And that, I think, is another major value of internships - to let kids try out jobs, even if it's to rule them out. Not that they don't do the job they were taken on to do for those few weeks/months, but they may realise that's not what they want to do for the next 10 years. My father tried it the other way - after my A levels, I did a part-time job in NUS Library (no \"internships\" in my day) because he wanted me to be turned off the idea of being a librarian - didn't work out the way he planned. -
slmkhoo\" post_id=\"2135226\" time=\"1718782105\" user_id=\"28674:
That’s awesome!! Very rooted in beliefs!!
No, we regard it as part of what we provide as parents (and grandparents helped). If we had felt that our retirement was going to be severely compromised, we would have asked her to find additional funding for herself or study locally. My parents paid for my overseas studies too, and didn't even accept any regular contribution while I was living at home. I guess we see it as \"paying it forward\". In fact, we keep tabs on what we spent on this daughter, and will help our other one when she needs it, probably to buy a flat when she reaches 35. And it's not that we are very rich, as I'm sure many families on KSP have more - but we live simply, have saved, and plan to work for as long as we can.
When we discussed jobs, we told our daughter that she should go with her interests, while also considering what standard of living she wanted! I guess if she had opted to earn under $2K a month, say, I would have been concerned. She started at around the median for her course and degree (I think!), but less than the top end, so she won't starve. She's a sensible sort and didn't get drawn into the high-spending lifestyle. She chose not to apply for high-paying finance/consulting jobs and we're fine with that. I did the same after I graduated (although my father wasn't quite as calm about it) - but he didn't ask for his money back!
We were discussing internships on the other thread - my daughter did a short internship in a financial institution, and a longer one in a consulting company during her university vacations. After those, she decided that she couldn't see herself in either of those careers! And that, I think, is another major value of internships - to let kids try out jobs, even if it's to rule them out. Not that they don't do the job they were taken on to do for those few weeks/months, but they may realise that's not what they want to do for the next 10 years. My father tried it the other way - after my A levels, I did a part-time job in NUS Library (no \"internships\" in my day) because he wanted me to be turned off the idea of being a librarian - didn't work out the way he planned. -
slmkhoo\" post_id=\"2135226\" time=\"1718782105\" user_id=\"28674:
My parents did not pay for my tertiary education, but like you, I will take supporting kids' university education as 'paying it forward'. And this is subject to our means. If we cannot afford to finance them overseas, then the support can only be extended to local university. As it is, I don't think my hub and I are prepared to support two kids overseas for medical school (since it is like $600-700k per child nowadays), or for a 4-year US education as the costs are astronomical. But not all overseas degree programmes are that hefty, and we have decided we are comfortable and willing to support their education overseas if its within the budget we have set aside.
No, we regard it as part of what we provide as parents (and grandparents helped). If we had felt that our retirement was going to be severely compromised, we would have asked her to find additional funding for herself or study locally. My parents paid for my overseas studies too, and didn't even accept any regular contribution while I was living at home. I guess we see it as \"paying it forward\". In fact, we keep tabs on what we spent on this daughter, and will help our other one when she needs it, probably to buy a flat when she reaches 35. And it's not that we are very rich, as I'm sure many families on KSP have more - but we live simply, have saved, and plan to work for as long as we can.
When we discussed jobs, we told our daughter that she should go with her interests, while also considering what standard of living she wanted! I guess if she had opted to earn under $2K a month, say, I would have been concerned. She started at around the median for her course and degree (I think!), but less than the top end, so she won't starve. She's a sensible sort and didn't get drawn into the high-spending lifestyle. She chose not to apply for high-paying finance/consulting jobs and we're fine with that. I did the same after I graduated (although my father wasn't quite as calm about it) - but he didn't ask for his money back!
We were discussing internships on the other thread - my daughter did a short internship in a financial institution, and a longer one in a consulting company during her university vacations. After those, she decided that she couldn't see herself in either of those careers! And that, I think, is another major value of internships - to let kids try out jobs, even if it's to rule them out. Not that they don't do the job they were taken on to do for those few weeks/months, but they may realise that's not what they want to do for the next 10 years. My father tried it the other way - after my A levels, I did a part-time job in NUS Library (no \"internships\" in my day) because he wanted me to be turned off the idea of being a librarian - didn't work out the way he planned.
Like your elder daughter, none of my kids are drawn to the finance or consulting industries, or even to the legal or accounting professions. Lol
So I am fully prepared that they will be making career decisions that will not maximise lifetime earnings. They aren't even keen to join in the internships rat race. But we are completely at peace with that. They are fully aware that it is their responsibility to live within their means, and have demonstrated that they are responsible, thinking individuals. So long as they choose pathways that can support their own lifestyles, and it is an honest day's job, I don't think I can or should interfere too much - it is their life to lead.
Definitely, having first-hand experience informs a person's decision making. 6 months of relief teaching and I knew I would not do it as a career. Heh. -
doodbug\" post_id=\"2135239\" time=\"1718787196\" user_id=\"13281:
I agreed to cover a sick teacher for 2 weeks, and by the end of the first week, decided that it was definitely not for me! I finished my 2 weeks, but refused to stay on.
Definitely, having first-hand experience informs a person's decision making. 6 months of relief teaching and I knew I would not do it as a career. Heh. -
Recently my hubs brought up again the idea of retirement. I am not v willing as I am not even 50 and although we do not have any financial commitments and our kids uni education should be quite low cost, I still feel it’s too early. We are like two different people with two different ideals. I want to work as long as I can while he wants to retire as soon as he can. Alamak leh……
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Is he going places after retirement? If you can apply leave then you follow him on some of the trips maybe? I feel if you are not ready for retirement yet it may be difficult to go through those ‘eng eng’ time…wait start to argue on small little things.
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I m older than you and I m checking around to start a new venture..I hope it doesn't get too difficult for me to go through this
just the first step trying to formalize it already met with some resistance 
I shall see la.
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