14% of S'poreans financially ready for retirement

[Hachi]

80% of Singaporean lives in HDB.....

In a nutshell, all those in HDB that about it......

[Jasonjst]

just did a quick calculation, assuming that a couple plans to retired in SG at 60 yrs old, and having the following criteria:

 

1) both couple at 35yrs old this year,

2) suay suay live till 80 yrs old.

3) expect to have $2.5k to spend monthly (of today value, with 3.5% inflation, factored in 1% bank interest)ex

4) no financial burden, all asset is 100% owned (house, car)

5) no extra funds for holiday

6) no extra fund for medical

 

The couple needs 1.42mil CASH to get retired by 60 yrs old.

 

if the couple is having zero savings, they need to put aside min 4.7K monthly from now to achieve this the above retirement criteria.....

 

kns, even with such low expectation for retirement , still have to put aside almost 5k monthly... better to enjoy now and look for a high building and jump down by 59 yrs old...

 

KNN even in 3rd world countries if got long life abv 80 is consider good fortune . In SG you call damn suay to live to 80 ?

[Jasonjst]

I'm always curious by people who think they need to fully own the house upon their death. Why? Ideally, you should die with nothing to your name so there's nothing wrong with doing a reverse mortgage and dying with close to nothing to your name.

 

Yah lor , if reverse mortage HDB is not enough , maybe can sell one kidney to the rich elite for another half million .

Edited February 22, 2011 by Jasonjst

[Joseph22]

Yah lor , if reverse mortage HDB is not enough , maybe can sell one kidney to the rich elite for another half million .

not everyone can do reverse mortage HDB.

 

if i am not wrong. you must not had bought any house bigger than 3 room before.

[Tigershark1976]

KNN even in 3rd world countries if got long life abv 80 is consider good fortune . In SG you call damn suay to live to 80 ?

 

 

of cos lah bro... in SG, unless u r multi-billionaire, otherwise, you are lucky if you could die earlier. For me, the ideal age should be around 70, worst 75....

Edited February 23, 2011 by Tigershark1976

[Tigershark1976]

probably not lah.. just an example ... but i probably won't call this high risk la

 

 

yah... not high risk... its extremely high risk....

[Tigershark1976]

Very True.

 

Everyone said 'Layman brothers' will Never fail.

 

Even one bank said so.

 

But the end result speaks for itself. Nothing in this world is guaranteed.

 

If anyone promise you that it will protect you forever till you drop, better be careful.

 

 

dun say layman, even world largest bank, Citibank might be history if US Gov help them...

[Without_a_car]

Anyone prepared for the coming Asia crisis 2012/2013?