How much is enough for retirement in Singapore?
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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. -
Imp75\" post_id=\"2135274\" time=\"1718843183\" user_id=\"2358:
What does he want to do if you both retire? Unless he wants to live overseas, you can probably work something out - maybe you can reduce your work time a bit, or create more flexibility for travel etc? There's no need for both of you to retire completely at the same time. Find out what he has in mind about retirement - perhaps he just wants to change to a less demanding, more meaningful job? Or work part-time or freelance? Or play golf every day? It need not affect you all that much. As in all things in marriage, try to find a compromise!
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….. -
I guess he just wants to enjoy life (even if it means doing nothing in SG) while he can while I prefer the dynamism and colleagues my workplace provide. I don’t want to see him everyday too cos we are too different in personality and our opinions differ a lot as well.
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I guess whatever decisions we make about retirement has to be in the best interest of preserving and growing the marriage relationship, and will probably require some compromises from both parties, and a shared understanding. A decision based on one person’s preference alone - I don’t see how it can work out as there will be bitterness and all with the fully compromising party.
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Imp75\" post_id=\"2135283\" time=\"1718850762\" user_id=\"2358:
probably his work is very busy and stressful n he wishes to take a break, my dh also mentioned this a few times; but he set it at 59/60yo . if he is till young, he can retire/off work for a while first but u continue to work lor. u can still take few days of leave to go travel together or do nothing occasionally?
I guess he just wants to enjoy life (even if it means doing nothing in SG) while he can while I prefer the dynamism and colleagues my workplace provide. I don’t want to see him everyday too cos we are too different in personality and our opinions differ a lot as well. -
slmkhoo\" post_id=\"2135243\" time=\"1718788513\" user_id=\"28674:
have u consider counselling job before?
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.
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