How much do u need to go slow/retire in singapore?

[GoodCar]

personally, i feel that ur cash is too little

 

$200k is nothing in Singapore

 

want to play safe, minimum must have 1million + 1 terrace house fh + 1 rented out condo + any 2litre and below car + CPF + simple job

 

 

Thats my dream, how you do it, can share?

[Kxbc]

5000 sq ft in District 10 > $6m easily esp if it is 4 to 5 separate properties. I work and not spend a single cent till 90 will also not have $6m

[Dwoon]

That's not going to be very enjoyable....... its like sustenance living...... no holidays?

 

Not sure what's your current lifetstyle but let's say it requires say $5-6K/mth...... the $500K will be not be able to last you for too long. (more so if you live a long life )

 

 

chow chow.... $500,000 (in bank, your HDB house fully paid & CPF) plus a simple & no stress job of maybe $1500/- per month......

 

[Benarsenal]

I personally think that even $1 million is not quite enough.

 

Best is get to billion. Then safe.

[Arowana1]

wah how come everyone need so much money to retire? i estimate me and wife need 2-3k (today's money). stay in a fully paid condo or hdb but must be cheap cos expensive one is to rent out. have a fully paid condo for rental income. rental alone should be enough but to play safe, im tinking of another property for rental. cash should be $500,000 including wat i get from cpf at age 55.

 

if u feel u cannot have a quality life on 2-3k income today, i tink sinkie generation is doomed. all chasing swiss standard of living...

Edited July 31, 2009 by Arowana1

[Albeniz]

For me, I am a simple person. My biggest expenses would be on food and that would probably cost only a few hundred dollars a month. Car might be something I might let go should I decide to go slow on life. I probably don't need 1 million dollar to lead my type of simple life.

 

However, I have one concern though...the expenses which might be incurred if I fall ill.

 

 

 

 

[Redplanet]

Live rich and die poor; live poor and die rich.

[Veryfree]

I personally think that even $1 million is not quite enough.

 

Best is get to billion. Then safe.

$1million is more than enough already lah. when 60 yrs old, no need to buy expansive

cloth (no need fashion anymore), eat porridge only (no teeth), drive china

car (no chick to take a ride anyway).

 

to become billionaire, ask someone to burn more during 7th month.

[Veryfree]

wah how come everyone need so much money to retire? i estimate me and wife need 2-3k (today's money). stay in a fully paid condo or hdb but must be cheap cos expensive one is to rent out. have a fully paid condo for rental income. rental alone should be enough but to play safe, im tinking of another property for rental. cash should be $500,000 including wat i get from cpf at age 55.

 

if u feel u cannot have a quality life on 2-3k income today, i tink sinkie generation is doomed. all chasing swiss standard of living...

i think Health is more than money. the present value of $500k may be much lower when old

age. happiness (not material) is priceless

[Ithunk]

yup health is more important and it does not take alot of time just 1 2 hours u r done

[Ithunk]

i mean y does one have to go slow....if a person enjoys working then continue to work...but of course at the same time keeping healthy....its about managing and being organized

[Yaloryalor]

34 this year. maybe around 45% there. Target completion date is 45. I am curious about the retirement plans of other people...

 

 

Bro,

 

You are 34 and already ~45% reaching your target? Very good!

 

So now you have paid 45% of 1 freehold terrace house and 1 99yr condo? Also about 100k cash on hand! Very good!

 

As to find a relaxing job and take back $4000 per month, really depends..

 

[Yaloryalor]

I personally think that even $1 million is not quite enough.

 

Best is get to billion. Then safe.

 

Really depend wat type of life you want lar. 1 million? My parents dun have 1 million when they retire. Many of my relatives also dun have 1 million when they retiring.

 

Billion? of cos can get I think trillion is better! Be relastic lar and nothing is 100% safe.

[Jadeband]

Firstly, one's expectation changes with age. What you deem enough now may well be below your future commitment and desires then.

Next, never assume on sure stability in job, economy or health. Most of us take these for granted.

 

Personally, i have moved my markers a few times in the last 16yrs of work.

 

 

[Hub_n_mona]

wah how come everyone need so much money to retire? i estimate me and wife need 2-3k (today's money). stay in a fully paid condo or hdb but must be cheap cos expensive one is to rent out. have a fully paid condo for rental income. rental alone should be enough but to play safe, im tinking of another property for rental. cash should be $500,000 including wat i get from cpf at age 55.

 

if u feel u cannot have a quality life on 2-3k income today, i tink sinkie generation is doomed. all chasing swiss standard of living...

 

wow..going by this, if someone wants to retire at 55 and lives for, let's say, 35 yrs (reasonable due to science)..without passive income generating assets..and taking an average of 4k per month over 35 yrs (very very very rough guess-timation lumping sometimes spending more on health care etc etc)..the amount rough rough chow chow needed would be 4k X 35yrs X 12 months = 1.68 mil

 

thus, needing about 1mil cash before retiring is not so far off I guess..

no wonder our govt says most prob need to work till 67

 

my take is, need to save up/invest as much as possible during working years..'cos working years may almost equals to retirement years (work for about 35 yrs, retire for about 40 yrs)..so if want to have average of 3-4k to spend per month over retirement..working years should be accumulating roughly that amount per month (without taking into account inflation still)..guess-timate hor..please mai flame wa

[Wind30]

ya lah. I think around 3k a month is pretty good.

 

So my idea is work until 45, switch to easy job that pays $4k for the next 20 years. Then retire and live for 20 more years on your rental/investment.

 

I mean do you want to slog until 65? by the time I am 65, I am not sure if I am healthy enough to go travelling, walk up mountains, etc. 45 sounds far better.

[Wind30]

Firstly, one's expectation changes with age. What you deem enough now may well be below your future commitment and desires then.

Next, never assume on sure stability in job, economy or health. Most of us take these for granted.

 

Personally, i have moved my markers a few times in the last 16yrs of work.

 

agreed. life is unpredictable. u dunno what your income or cost of living will be in the future.... but no harm planning. A target is better than no target.

 

[Veryfree]

wow..going by this, if someone wants to retire at 55 and lives for, let's say, 35 yrs (reasonable due to science)..without passive income generating assets..and taking an average of 4k per month over 35 yrs (very very very rough guess-timation lumping sometimes spending more on health care etc etc)..the amount rough rough chow chow needed would be 4k X 35yrs X 12 months = 1.68 mil

 

thus, needing about 1mil cash before retiring is not so far off I guess..

no wonder our govt says most prob need to work till 67

 

my take is, need to save up/invest as much as possible during working years..'cos working years may almost equals to retirement years (work for about 35 yrs, retire for about 40 yrs)..so if want to have average of 3-4k to spend per month over retirement..working years should be accumulating roughly that amount per month (without taking into account inflation still)..guess-timate hor..please mai flame wa

sounds very much like my insurance agent.

nobody can guarantee job security, what is SG like without LKY, will there be SG

20 years from now? etc...