SG Talk

Already said many times, our CPF cannot retire happily.

Do you need such amount ?

95% sg citizen can..but they need to sell their HDB..

(11-10-2022, 08:15 AM)Sharexchange Wrote: [ -> ]95% sg citizen can..but they need to sell their HDB..

After selling hdb, rent an apartment in JB?
This will not work lah.

(11-10-2022, 08:14 AM)FangFang Wrote: [ -> ]Do you need such amount ?

This is the lowest retirement amount hor.
You have to factor in if you need to take medication for chronic disease.
To live comfortably in Sg during retirement.
You need 4 million hor.

(11-10-2022, 08:18 AM)RiseofAsia Wrote: [ -> ]After selling hdb, rent an apartment in JB?
This will not work lah.

Retirement also

(11-10-2022, 08:15 AM)Sharexchange Wrote: [ -> ]95% sg citizen can..but they need to sell their HDB..

There r several ways to unlock the flat value as suggested by HDB

https://www.hdb.gov.sg/residential/livin...retirement

(11-10-2022, 08:15 AM)Sharexchange Wrote: [ -> ]95% sg citizen can..but they need to sell their HDB..

thats how they claimed they hv succeeded

if for 2 persons  is 25% more ?

Ask people to invest and get higher return, might as well ask CPF to pay us market rate interest.

the fact is

it is always never enough
once you reach the amount then you realized that the amount you achieve is OBSELETE

I think quite a lot have this amount. Unlikely for the majority though. Those who don't will have to downgrade from their existing homes (size, location, length of lease etc), and that's if they can downgrade.

$1421 per month should be enough but once medical expenses are included, that might not be enough. And then there's inflation.

Easy peasy

(11-10-2022, 09:06 AM)Clyde Wrote: [ -> ]Ask people to invest and get higher return, might as well ask CPF to pay us market rate interest.

Those with rich CPF will become richer if the rate is across the board
One size fits all is not so ideal

$350K should be no problem for most Singaporeans. .. 

(11-10-2022, 09:31 AM)Huliwang Wrote: [ -> ]$350K should be no problem for most Singaporeans. .. 

Do you know many of the young couples cant last 6mths if they are out of jobs.

(11-10-2022, 09:41 AM)RiseofAsia Wrote: [ -> ]Do you know many of the young couples cant last 6mths if they are out of jobs.

They are just young couples. With so many more years to accumulate, they should easily have $350K by retirement age. ....

(11-10-2022, 08:33 AM)FartSunKing Wrote: [ -> ]ALL Singaporean citizens will have at least $1M in their CPF

When they are between 55 to 65 years old

If they have been employed with CPF contributions throughout their life

Jac Fart got the same lies everyday

Recalcitrant liar who refused to repent

No wonder his son is punished for his dad's sin

"ALL"?

that why in hell everything is never enough


the fact is we are all in hell right now


and in hell everything is deteriorating going from bad to worst and we keep fixing it but the fixing is never enough

you realized it


this is hell and it will become so worst is become hell


that why there is the rapture

End of the day is ALL DEPEND WHAT YOU WANT.


Some happy retire poor just daily spend 20 bucks or even lesser

Some happy retire rich daily spend few hundred or even one k or so

(11-10-2022, 10:09 AM)[[ForeverAlone]] Wrote: [ -> ]End of the day is ALL DEPEND WHAT YOU WANT.


Some happy retire poor just daily spend 20 bucks or even lesser

Some happy retire rich daily spend few hundred or even one k or so

Their job is to solve this problem.
Not making rich become richer, poor become poorer.
Nobody will want to be forever poor.

i don't think 34万9566元 (35）is enough for for retirement

what is the breakdown to get this figure 350k, maybe certain catergories can be eliminated n certain spending can be cut so no need 350k

(11-10-2022, 02:25 PM)talky Wrote: [ -> ]what is the breakdown to get this figure 350k, maybe certain catergories can be eliminated n certain spending can be cut so no need 350k

$1,421 per month is pretty reasonable for a single, assuming no big medical expenditure based on my 3-year experiment about a decade ago. 

They assumed the person would be in retirement for 20.5 years based on a life expectancy of 83.5 and average retirement age of 63.

$340k is not enough, you must take consideration of high inflation….by the time you retire, 20-30 years later, you may need at least 4-5k per month to survive.

$1500 you save today today will be only worth $500 20 years later.

(11-10-2022, 03:10 PM)lvlrsSTI Wrote: [ -> ]$340k is not enough, you must take consideration of high inflation….by the time you retire, 20-30 years later, you may need at least 4-5k per month to survive.

Depends on what age one retires. If one retires at age 70, he has 13.5 years (basing on the life span of a Singaporean at 83.5 years) to spend the $350K which shud be enough if he dun travel overseas tours a few times a year like you. ....

In year 2040, a plate of chicken rice will cost you $10-15….not kidding.

(11-10-2022, 03:16 PM)Huliwang Wrote: [ -> ]Depends on what age one retires. If one retires at age 70, he has 13.5 years (basing on the life span of a Singaporean at 83.5 years) to spend the $350K which shud be enough if he dun travel overseas tours a few times a year like you. ....

Spore is still cheap at current time so if you are retired or going to retire in a few years time, $1500-2000 per month is good enough….to live comfortably.