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How much are you earning per annum?

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  #10311 (permalink)  
Old 26-07-2016, 03:42 PM
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This thread is useless with the same old dude posting as different people over and over again.

Does anyone really believe all these 50+ people are coming to this forum and posting such lengthy, useless posts?

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  #10312 (permalink)  
Old 26-07-2016, 03:55 PM
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I WANT more people to contribute their stories here.

I NEED that same old guy to shut the fvck up and stop posting his template stories about retirement and moving to malaysia.

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  #10313 (permalink)  
Old 26-07-2016, 04:29 PM
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It is indeed true that I am re-learning some things from my children. There is the financial aspect and the non financial aspects. Sometimes, it is ok to satisfy your wants! It makes life more meaningful and richer.

For example, it is priceless to be there at Niagara falls in person to soak in the majestic splendour of nature. This is definitely a WANT, but the experience is priceless!

Buying that car for my wife makes her happy and a hug from her is priceless!

The list goes on.


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Besides educating your young children, you can also educate yourself on retirement.

1. Retiring in an expensive condo is a WANT, not a NEED. You can still retire comfortably in a HDB flat.

2. Retiring while maintaining a car is a WANT, not a NEED. You can take public transport and you are in no hurry to go to work. You can always call a taxi or Uber if you need a car.

3. Retiring while still having a maid is a WANT, not a NEED. The amount of house chores for a retired couple is not much.

4. Retiring with a passive income of $100k pa is a WANT, not a need. You can retire with only $30k pa.

5. Travelling to Europe for holidays is a WANT, not a need.

The list goes on and on. Educate yourself while you educate your young children.

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  #10314 (permalink)  
Old 26-07-2016, 07:38 PM
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You're right. Retiring in a big bungalow with a huge swimming pool is priceless. Only $20 mil.

You must work harder to achieve this.


Quote:
Originally Posted by Unregistered View Post
It is indeed true that I am re-learning some things from my children. There is the financial aspect and the non financial aspects. Sometimes, it is ok to satisfy your wants! It makes life more meaningful and richer.

For example, it is priceless to be there at Niagara falls in person to soak in the majestic splendour of nature. This is definitely a WANT, but the experience is priceless!

Buying that car for my wife makes her happy and a hug from her is priceless!

The list goes on.
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  #10315 (permalink)  
Old 26-07-2016, 10:07 PM
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Lol, staying in a bungalow is a WANT. On the other hand, it is debatable whether staying in a condo is a NEED or a WANT.

Many condo dwellers will tell you that they become more physically active, do more exercises and thus are healthier all because of the convenience of the condo facilities. It is a NEED to be healthy.


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Originally Posted by Unregistered View Post
You're right. Retiring in a big bungalow with a huge swimming pool is priceless. Only $20 mil.

You must work harder to achieve this.
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  #10316 (permalink)  
Old 27-07-2016, 01:19 PM
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The decision on when to retire depends first on finances, retirement lifestyle choice and your marginal value of your free time.

A couple who chooses a simple retirement lifestyle, meaning retire in place in their HDB flat and have enough to meet the basice needs of food, medical and other essential expenses which is about $2,000 pm can retire if they have sources of passive income to cover this.

A couple who chooses a more luxurious lifestyle, complete with a car will need $10,000 pm.

Once the issue of finances is settled, it then depends on the willingness to give up your earned income for your free time. Trading income with your time. If you value your free time more than income, then you will retire. Those who earn high salaries may not want to give up their salaries and so remain working until they die. Those who are financially independent and value their time more than their salaries will decide to retire.

Those who can retire but have to retirement plan activities will choose not to retire as they will feel bored at home.

The choice to retire on not is very much a personal choice depending on one's circumstances and personalities. If you are financially independent and have exciting plans for your retirement, then by all means retire and do things you have always wanted but did not have the time to do. This could be travelling for a few months to different parts of the world, doing charity work to feed the poor and needy, doing lots of reading and many more.
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  #10317 (permalink)  
Old 27-07-2016, 01:48 PM
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Quote:
Originally Posted by Unregistered View Post
The decision on when to retire depends first on finances, retirement lifestyle choice and your marginal value of your free time.

A couple who chooses a simple retirement lifestyle, meaning retire in place in their HDB flat and have enough to meet the basice needs of food, medical and other essential expenses which is about $2,000 pm can retire if they have sources of passive income to cover this.

A couple who chooses a more luxurious lifestyle, complete with a car will need $10,000 pm.

Once the issue of finances is settled, it then depends on the willingness to give up your earned income for your free time. Trading income with your time. If you value your free time more than income, then you will retire. Those who earn high salaries may not want to give up their salaries and so remain working until they die. Those who are financially independent and value their time more than their salaries will decide to retire.

Those who can retire but have to retirement plan activities will choose not to retire as they will feel bored at home.

The choice to retire on not is very much a personal choice depending on one's circumstances and personalities. If you are financially independent and have exciting plans for your retirement, then by all means retire and do things you have always wanted but did not have the time to do. This could be travelling for a few months to different parts of the world, doing charity work to feed the poor and needy, doing lots of reading and many more.
A couple can retire on 5-6k a month and still own a basic car. There is no need to set aside money for CPF or savings by then. Unless you are eating gold dust for every meal, 10k is over budget.
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  #10318 (permalink)  
Old 27-07-2016, 03:15 PM
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A couple can retire on 5-6k a month and still own a basic car. There is no need to set aside money for CPF or savings by then. Unless you are eating gold dust for every meal, 10k is over budget.
Our projected passive income as a retired couple at 65 is as follows

CPF Life = 1800x2 = 3600 pm
Annuities (buy using cash savings) = 1000x2 = 2000 pm
Allowance from son = 200x2 = 400 pm
Allowance from daughter = 200x2 = 400 pm
Total passive income = 6400 pm

Our projected retirement expenses will be 4000 pm. 2400 pm savings to take care of future inflation.

Our luxury 3 bedroom condo is currently paid up so this amount of passive income is enough for us to even own a small used car. We will not have a helper though.
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  #10319 (permalink)  
Old 28-07-2016, 02:02 PM
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Why do you need to emphasize that yours is a " luxury 3 bedroom condo"?
Normal people would just use "home" or "condo"...
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  #10320 (permalink)  
Old 28-07-2016, 02:11 PM
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Quote:
Originally Posted by Unregistered View Post
Why do you need to emphasize that yours is a " luxury 3 bedroom condo"?
Normal people would just use "home" or "condo"...
It's the same stupid old man posting over and over again, posing as different people. Look at the posts and you can see the same keywords over and over and over again like a fkn recorder on repeat.
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