In SG, you need about half a million to retire. Money need to set aside to maintain and upkeep the house since we will be home more often. It is not difficult to do the sum since there are enough information online. Working on safe passive income is vital. So to retire comfortably, you need about a million to 1.25 million already factor in annual inflation and annual travelling expenses. That is why the temptation to change to small flat type looks appealing for those who are seriously planning for their retirement🎉
Singapore is hell for poor people, especially retirees with medical issues. Cost of living outpace our current retirement monthly withdrawal of $1k per month. The younger generations with children are struggling with a high cost of living. Blame who? The US creates wars, sanctions, etc, and printing trillions of dollars for themselves to spend. Other countries have to work hard to feed the US 😂
Insurance agents count those. Government annuity - count those. Basically - if you need to ask, you are not a millionaire. The last count of 2010 type of insurance-agents policies was 2m-plus.
你听起来像马来西亚人。你为什么要在新加坡问那些人敏感问题?你想做什么? 你們馬來西亞也是很多問題又不去看你關心? 反而來關心別人的國家? 新加坡不需要你来这里关心. You sounds like Malaysian. why you in Singapore asking those peoples sensitive question in Singapore? Malaysia people got many problem also why you didn't worry about them and worry about other people country? What are you trying to do? We do not need you worried about Singapore.
This is a free country, he can do anything he like as long as he doesn't hurt others. Moreover, there is nothing wrong with him showing a face of Singapore over here on retirement issues. Are you on medication or something?
@@limkimyaw8980 This is the free country, as you mentioned above , he can say anything he liked. So, you shouldn't have such aggressive manners, Are you on medication or something ? as you said 😂😂😂5:39
@limkimyaw8980 if he is Singaporean I had nothing to say, if he is from other country there is something is wrong, why didn’t he worry about his own country in Malaysia? people over there also have a lot of problem and why need to worry about Singapore that is not his country? Don't you think something is not right?
@quekjame if he is Singaporean I had nothing to say, if he is from other country there is something is wrong, why didn’t he worry about his own country in Malaysia? people over there also have a lot of problem and why need to worry about Singapore that is not his country? Don't you think something is not right?
In our generation, the compulsory CPF contribution was 24% of our salary, of which one portion was set aside for the retirement account that had been capped at S$110,000 by law. When the contributor reaches the retirement age at 62, he would receive about S$1,000 per month until he is 90 year old from this account. If he has some extra money in his ordinary account, he could transfer the money from his ordinary account to his retirement fund so that his monthly payout could be increased depending how much he has transferred. His spouse and children could also top up his retirement account with cash so that the monthly payout is more. I thought this scheme is very flexible and good for the retirees.
I'm also retired. Flat fully paid, my monthly expenses rarely exceed $700 (at least eat at restaurant twice per month) Eating out at coffeeshop or hawker centre 4 times a month (which is cheaper than homecooking) Daily homecooked dishes - simple - 1 vegetable, 1 egg, 1 meat and/or seafood