#61
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Re: How much money needed to Retire?
Quote:
Like you said, who amongst us have $130k, at 20 y.o. It is only people in the 40s that have this amount in their SA. I encourage everyone to do this if you haven't already done it. It is such a good "kang tao" that the Govt refuses to allow more top up after FRS. Now that my home is fully paid up and I can't transfer to SA anymore, I am accumulating OA (yet once again) at the pathetic 2.5% interest to build about $25k per child for their tertiary education. Almost there. Then my journey is done. Thanks for sharing. Hope more bros can share their OWN retirement plans. |
#62
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Re: How much money needed to Retire?
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On a side note, a combined $5k per couple is better than a single person $3k because some household expenses can be shared e.g buy washing machine. Thanks for sharing. |
#63
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Re: How much money needed to Retire?
"Retire early slow travel" is also another idea to retire
Basically U live on a budget of +$1.5k per pax per month and move from places to places in cheaper countries like Philippines and Thailand. If you are a couple U probably only need +$2k... To finance this, U can rent out your whole HDB/condo. I expect the expenses to be... -Rental $700 (Airbnb) -Food $300 (Cook and eat out once a while) -Shopping $100 -Transport $100 -Misc $300 The only issue is Visa free is usually for 30 days. After that U are required to pay for visa extension or make "Visa run" adding cost to your monthly expenses. The whole idea of "Retire early slow travel" will only appeal to those who are adventurous and want to see the world. Being Singaporean, we have the advantage to travel around Asia easily and return back home fast should any issue arises.
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If an issue can be settle with $, then it is not a real issue But the issue is... I have no $ 如果可以用钱决绝的问题,那就不是真正的问题 但是我的问题是...我没钱 Last edited by havana; 23-09-2020 at 06:42 PM. |
#64
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Re: How much money needed to Retire?
I do know of an early retiree (40s now), travel every month prior to COVID19. TBH, cost of living is darn high in Singapore. Just choose other liveable cities in Asia Pacific, one will realise things are cheaper in general.
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#65
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Re: How much money needed to Retire?
other than those rich rich people, for commoners in sg, u think can retire comfortably? haiz.
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#66
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Re: How much money needed to Retire?
Quote:
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#67
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Re: How much money needed to Retire?
Bro VoicesWithin,
Up you 16 point. Good for you to do this way. Another aspect - every year can deposit $7,000 up to $14,000 inot CPF and these can be tax deductible. You end up pay less tax and earned higher interest. Go to CPF and talk with them. Quote:
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#68
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Re: How much money needed to Retire?
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My ageing 70+ mom still collects money from CPF under the old schemes. So yes, we can withdraw fully. CPF eating our money is a myth. |
#69
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Re: How much money needed to Retire?
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I rather invest any retirement money into other instruments which I have control over. It may earn less interest or be subject to more risk. At least i have control. Anyway, I have a big family and there is not much left to invest after feeding all. Thanks for sharing and thanks for the points. Feel free to add me money not points ya |
#70
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Re: How much money needed to Retire?
Find out all of you damn loaded.
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#71
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Re: How much money needed to Retire?
Quote:
It can be found at https://www.sammyboy.com/threads/the...thread.151153/ This post in particular shows you how to estimate how much you will need. https://www.sammyboy.com/threads/the.../#post-1515996
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Tips for ALL samsters.
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#72
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Re: How much money needed to Retire?
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Please share yours if you can. Intrusive, but we are all using nicks |
#73
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Re: How much money needed to Retire?
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#74
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Re: How much money needed to Retire?
was for couple. one pax where got so much
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#75
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Re: How much money needed to Retire?
Better to put in SRS, also tax deductible. can withdraw after 62, limit 40k per annum if not working by then. better than put in cpf as I understand topup amount cannot be withdrawn and it form part of your monthly payout after 65, if I am not wrong. The amount u put in SRS can use to buy shares, put FD, etc. Do not leave it in SRS and do nothing as it earn paltry interest, board rate. For me I use the $ to buy bank shares and keep for long term. Annual dividend is good but if you buy at the peak price, you will lose out. If this happens, then buy more, if have $, to average up. Before doing so make sure to read up and have some knowledge of the stock market
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Support "#MeTooNoCarrot" movement Last edited by zeefee71; 25-09-2020 at 08:08 PM. Reason: tt |
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