Originally Posted by fastshot (Post 22398629)

interesting thread again. I have been thinking about this for some time too. I am coming to 50 in a few years and actually hope to be able to retire in your sense of the word, early 50s or 55 [CPF SA contribution % goes down].

Main thing now is because I have kids and want to at least have some idea that I can dong the uni fees if they get there. At the least, for kids doing uni in Singapore, can use CPF OA to pay first, probably need 50k (?) per kid? In my early 50s, they would be only finishing sec sch though.

For other expenses, I would like to renew COE so there goes another big sum of money (currently close to 140k) but that COE can take me till mid-50s. Other than that, not planning to take any other big loans with HDB paid up. Too late to play the property game and not interested in taking loans till 60s, 70. CPF sufficient for FRS now so I guess basic level of living is OK but after 65 which is the draw down age. For money outside of CPF, I hope to be able to get passive income of 5-6k by early 50s, say 51 or 52 (including a retirement annuity that I got conned into buying by DBS/Manulife of about 1.8k). I don't believe that a couple cannot get by with 5-6k monthly excluding CPF (maybe another 2.5k or so for a couple after 65).

As for place for retirement, to be honest, Singapore is probably the best place. It is very safe, compare to other countries where you cannot show wealth, cannot go out late at night, weapons etc. It has great healthcare. Of course, it is very expensive. If possible, I would like to retire in Singapore but have to watch daily expenses. integrated shield plans not getting cheaper as we age, so something to consider to drop once turn 80 maybe. Not particularly interested in taking too many holidays, so I guess kopitiam living is OK with me :D:D

all the above only a plan, not fruition, unfrotunately.

Originally Posted by fallen11 (Post 22400056)

2. HDB flats or other real estate asset. Its appreciating till they decided not to increase the population here as land here is fucking scarce. rental yields for hdb flats are high, easily 7-12% pa. Rent it out and live elsewhere and you can live a decent life even with the rental income alone (for 1 person).

Originally Posted by fallen11 (Post 22400069)

Probably its just different definition for different people.
The general thing people agree about "retirement" = freedom of choice. wanna work? dont wanna work? what job do you wanna do? etc etc.... all available for you to choose.

Please share some good tips and advice from the previous thread?

Originally Posted by ziwan (Post 22400519)

But how to obtain visa for foreign country, this is the tricky part unless u don't mind travel in and out of the country every month.

Originally Posted by fallen11 (Post 22400084)

what i would do if i am in your shoes. Just saying here, to provoke some thinking. Realise that everyone has different dreams, aspirations, responsibilities, background & preferences.

if i am you:

1. The car. what do you need it for if you are going to retire? Car expense in sg makes a big difference. 1st its 140k COE + Car cost, then its 10 years of car usage expense like parking, maintainence, repairs, fuel, etc etc. Add all these costs up over 10 years. Do you know the difference in networth can come out to be like 500k after 10 years? imagine you took all this money and put it into a US stock index ETF, yield 400% over next 10 years. Yes this difference can change your life. Car would be the 1st thing to ditch.

2. Oh the "use CPF OA on your kids' education" thing. They have to pay back to cpf with interest. Coming back to the car again. Why not use the car expense for their education instead?

3. "Singapore is probably the best place'. I tend to agree with this statement. its not best in the world.... but probably better than 90% of the world, overall. Thing about sg is.... People come here to stay, to make an income. The reason why people here are willing to put up such high living cost here is because they can earn more here. It makes sense. But.... if you retire, assuming you do not make active income. Then it doesnt make sense anymore to pay that high living cost to live here. Sg is a place to make money.

I'm not asking you to follow what i say. Its just some food for thought.:)

Originally Posted by fastshot (Post 22406571)

if one has the money to retire in Singapore, it truly is a well shielded place. no natural disasters, security, healthcare, amenities.

Originally Posted by dobebe (Post 22389587)

no definite plan at the moment, location wise i would like to go Thailand!

Originally Posted by silvooon (Post 22442432)

ya bro,thailand damn nice

Originally Posted by ziwan (Post 22400519)

Point 2 sounds like a good idea. Rent your HDB out and rent a cheap apartment overseas. But how to obtain visa for foreign country, this is the tricky part unless u don't mind travel in and out of the country every month.