How much are you earning per annum?

Originally Posted by Unregistered

Female 30 years old
Monthly salary:8K
Bonus: Maybe about 2-3 months
Money in bank account: 250K
Shares:60K

And yes, I'm still single...

Why does a pretty, rich girl like you remain single?
Chose to be single or have not found the right prince charming?
Interested in a 58 year old man?

Originally Posted by Unregistered

OMG, you dudes are thicker than I thought.

The figures are not rubbish, just pure and simple Maths.

The money you need is up to the kind of lifestyle you aspire to lead in your retirement. The case used was for the couple who were spending $5k pm.

If you aspire to a $3k pm kind of lifestyle, then use the $3k figure to compute. $3k pm = $36k pa. If they retire at 60 and live to 85, that's a good 25 yrs. With a miraculous zero inflation over 25 yrs, the amount needed is $900k.

You can factor in any inflation rate to see how much the amount needs to grow. No need to argue. It is your retirement, not mine.

I guess people just can't register the fact that they are unable to retire. They can try with less than a million. Just see how long (or short) their pool of safety net will last them. Failure to plan is planning to fail, that's it.

40, 42, professional couple
Combined annual income $149k, annual spendings $108k, annual savings $41k
Lives in a condo, drives a car
Current combined net worth, including condo, $2.6m
Aims to retire at 65, target net worth at 65 $4m
Retirement plan at 65 - Buy a BTO HDB studio unit for elderly costing $100k
Will survive on $3.9m cash, need to be prudent in spending
Will apply for elderly pass for mrt, bus, cinema, etc.
We hope the $3.9m cash is enough till our target death age of 90

Originally Posted by Unregistered

40, 42, professional couple
Combined annual income $149k, annual spendings $108k, annual savings $41k
Lives in a condo, drives a car
Current combined net worth, including condo, $2.6m
Aims to retire at 65, target net worth at 65 $4m
Retirement plan at 65 - Buy a BTO HDB studio unit for elderly costing $100k
Will survive on $3.9m cash, need to be prudent in spending
Will apply for elderly pass for mrt, bus, cinema, etc.
We hope the $3.9m cash is enough till our target death age of 90

a few points to note on your retirement plan,
1)have you factor i kidz growing up exponential costs?(provided u have no kids)
2) based on your saving S$41K x 23 yrs to retirement, S$943,000 (nett off inflation against salary increment),
3) Not sure how much cash savings/ liability you have on now, or passive income to sustain from retirement to death.
4) with inflation in & housing appreciation and govt policy changes, not sure if there is any BTO in the future and will it only cost S$100k only in 20+ yrs time. no one can predict. Worse off is, you have to stay at your fully paid condo(assume your condo is on loan) and live off your passive and the above savings + CPF.

If 3.9m is not enough, how much is enough? Will there be many homeless retirees roaming the streets holding millions of dollars?

46, earn only $80k pa.
Gone case. No hope.
So many here earning $300k pa.

When u want to compre, there is no end. There is always someone else who earns more.
Singapore's Multimillionaires: New Wealth Report Busts The Myths - Forbes

Either just be contented with what you have or strive to do better. 46 is not young not old. As long as you are able to work, there is always hope.

Originally Posted by Unregistered

46, earn only $80k pa.
Gone case. No hope.
So many here earning $300k pa.

I'm 44 and I am a Singaporean millionaire. I came from a low income family (used to live in a small HDB flat with my family of six during my childhood) but I worked hard, got into top Singapore schools and got good jobs. After working very hard, saving very hard and investing hard, I achieved the millionaire status. Singapore is where dreams come true provided you are diligent, honest and smart. I now live in a brand new condo (not the old condos in D9) and drives a conti car. Over the next 25 years, I hope to be a multi millionaire. Wish me luck!

Originally Posted by Unregistered

When u want to compre, there is no end. There is always someone else who earns more.
Singapore's Multimillionaires: New Wealth Report Busts The Myths - Forbes

Either just be contented with what you have or strive to do better. 46 is not young not old. As long as you are able to work, there is always hope.

Originally Posted by Unregistered

I'm 44 and I am a Singaporean millionaire. I came from a low income family (used to live in a small HDB flat with my family of six during my childhood) but I worked hard, got into top Singapore schools and got good jobs. After working very hard, saving very hard and investing hard, I achieved the millionaire status. Singapore is where dreams come true provided you are diligent, honest and smart. I now live in a brand new condo (not the old condos in D9) and drives a conti car. Over the next 25 years, I hope to be a multi millionaire. Wish me luck!

I smell a troll here

Originally Posted by Unregistered

46, earn only $80k pa.
Gone case. No hope.
So many here earning $300k pa.

I'm 41 ,worse earning only 46K pa.

More gone case and no hope .