How much are you earning per annum? - Page 313 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




How much are you earning per annum?

Reply
 
Thread Tools
  #3121 (permalink)  
Old 08-11-2013, 06:57 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I know of someone who died at the age of 58. Too bad he didn't manage to enjoy his retirement. His wealth goes to his wife and kids. Sad life.
Why is that sad? I am sure his family is very grateful to him and loved him.

We all don't know when we will die, but I would rather my family does not have to suffer financially when I am gone. And if I am able to live to old age, at least I know I will be able live very comfortably, and not have to keep cutting down your lifestyle.

Reply With Quote
  #3122 (permalink)  
Old 08-11-2013, 11:20 AM
Unregistered
Guest
 
Posts: n/a
Default

Hi,

I find there is a lot of talk about retirement in this forum. I was just wondering how much does a retired couple spend per month during retirement, assuming there is no more mortgage loan or other debt to worry about and children are independent and working? Also assume staying in a 4 room HDB flat and no car. Here are my thoughts.

1. Food, clothing, marketing - $800
2. Utilities - $200
3. Public transport - $100
4. Internet, TV, Mobile phone - $200
5. Insurance and medical - $1000
6. Miscellaneous - $300

Total = $2,600 per month or $31,200 per year

Is this correct? Should it be more or less? Please comment. Thanks.

Reply With Quote
  #3123 (permalink)  
Old 08-11-2013, 12:47 PM
Unregistered
Guest
 
Posts: n/a
Default

I remembered NTUC Income once defined the following:

Basic retirement lifestyle (stay in HDB, no car, no holidays to "Ang Moh countries, no maid): $3k a month for a couple.

Comfortable retirement lifestyle (stay in 5 rm or exec HBD or condo, a Jap car, no maid, 1 holiday per year to "Ang Moh" country) : $5k a month for a couple.

Luxurious retirement lifestyle (stay in condo or landed, maid, a car, holidays overseas, restaurant dining once a week or more, club membership) : $8k per month for a couple.

To sustain the luxurious lifestyle for 30 yrs, assuming the couple retires today at 55, they need to have $2.5m now (with 3% inflation, and with 3% return on their $2.5m). If they want to leave something behind for their children, they need to have more than $2.5m.


Quote:
Originally Posted by Unregistered View Post
Hi,

I find there is a lot of talk about retirement in this forum. I was just wondering how much does a retired couple spend per month during retirement, assuming there is no more mortgage loan or other debt to worry about and children are independent and working? Also assume staying in a 4 room HDB flat and no car. Here are my thoughts.

1. Food, clothing, marketing - $800
2. Utilities - $200
3. Public transport - $100
4. Internet, TV, Mobile phone - $200
5. Insurance and medical - $1000
6. Miscellaneous - $300

Total = $2,600 per month or $31,200 per year

Is this correct? Should it be more or less? Please comment. Thanks.

Reply With Quote
  #3124 (permalink)  
Old 08-11-2013, 02:47 PM
Unregistered
Guest
 
Posts: n/a
Default

Like that ah,

Upon retirement at 55, I will live 10 yrs (till 65) at the luxury lifestyle level, then downgrade to comfortable lifestyle till 75, and finally at basic lifestyle till the end.

Using linear extrapolation, I will need about $1.5m in total with zero $ left to give at the end of it all.

Quote:
Originally Posted by Unregistered View Post
I remembered NTUC Income once defined the following:

Basic retirement lifestyle (stay in HDB, no car, no holidays to "Ang Moh countries, no maid): $3k a month for a couple.

Comfortable retirement lifestyle (stay in 5 rm or exec HBD or condo, a Jap car, no maid, 1 holiday per year to "Ang Moh" country) : $5k a month for a couple.

Luxurious retirement lifestyle (stay in condo or landed, maid, a car, holidays overseas, restaurant dining once a week or more, club membership) : $8k per month for a couple.

To sustain the luxurious lifestyle for 30 yrs, assuming the couple retires today at 55, they need to have $2.5m now (with 3% inflation, and with 3% return on their $2.5m). If they want to leave something behind for their children, they need to have more than $2.5m.
Reply With Quote
  #3125 (permalink)  
Old 08-11-2013, 10:17 PM
Unregistered
Guest
 
Posts: n/a
Default

The main thing to worry about and plan for is inflation.

Even hawker food prices are increasing every year. The carrot cake I buy occasionally have gone up from $2 to $2.5 (25%) this year!

Read this:A Wealthy Nation That Can't Afford to Retire


Quote:
Originally Posted by Unregistered View Post
Hi,

I find there is a lot of talk about retirement in this forum. I was just wondering how much does a retired couple spend per month during retirement, assuming there is no more mortgage loan or other debt to worry about and children are independent and working? Also assume staying in a 4 room HDB flat and no car. Here are my thoughts.

1. Food, clothing, marketing - $800
2. Utilities - $200
3. Public transport - $100
4. Internet, TV, Mobile phone - $200
5. Insurance and medical - $1000
6. Miscellaneous - $300

Total = $2,600 per month or $31,200 per year

Is this correct? Should it be more or less? Please comment. Thanks.
Reply With Quote
  #3126 (permalink)  
Old 09-11-2013, 12:06 AM
Unregistered
Guest
 
Posts: n/a
Default

Inflation is good for your property. With inflation, your property price can double in value over the years. So even if your food price go up, it is nothing compared to the benefits of property appreciation. Let's say your food bill doubled from $10k pa to $20k pa. This is nothing compared to your condo doubled from $1m to $2m. You can then sell your condo and downgrade to a HDB flat and enjoy the cash profits.

Quote:
Originally Posted by Unregistered View Post
The main thing to worry about and plan for is inflation.

Even hawker food prices are increasing every year. The carrot cake I buy occasionally have gone up from $2 to $2.5 (25%) this year!

Read this:A Wealthy Nation That Can't Afford to Retire


Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote

  #3127 (permalink)  
Old 09-11-2013, 06:31 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Inflation is good for your property. With inflation, your property price can double in value over the years. So even if your food price go up, it is nothing compared to the benefits of property appreciation. Let's say your food bill doubled from $10k pa to $20k pa. This is nothing compared to your condo doubled from $1m to $2m. You can then sell your condo and downgrade to a HDB flat and enjoy the cash profits.
That's a problematic view of inflation vs value. Inflation gives rise to nominal increase in price but it doesn't mean appreciation of value. Real gain is a function of other factors.

Property may act as a hedge against inflation.


Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #3128 (permalink)  
Old 09-11-2013, 07:01 AM
Unregistered
Guest
 
Posts: n/a
Default

My wife and I have retired and we get a passive income of $5k pm. We have a small car and no debt. We lead a simple, comfortable retirement. Our spendings is only $3k pm. We cook our own meals, do the household chores and exercise in our condo gym.

Quote:
Originally Posted by Unregistered View Post
I remembered NTUC Income once defined the following:

Basic retirement lifestyle (stay in HDB, no car, no holidays to "Ang Moh countries, no maid): $3k a month for a couple.

Comfortable retirement lifestyle (stay in 5 rm or exec HBD or condo, a Jap car, no maid, 1 holiday per year to "Ang Moh" country) : $5k a month for a couple.

Luxurious retirement lifestyle (stay in condo or landed, maid, a car, holidays overseas, restaurant dining once a week or more, club membership) : $8k per month for a couple.

To sustain the luxurious lifestyle for 30 yrs, assuming the couple retires today at 55, they need to have $2.5m now (with 3% inflation, and with 3% return on their $2.5m). If they want to leave something behind for their children, they need to have more than $2.5m.
Reply With Quote
  #3129 (permalink)  
Old 09-11-2013, 08:19 AM
Unregistered
Guest
 
Posts: n/a
Default

Mid 30s couple, combined income $120k pa. 2 small kids.
Residence: 5 room HDB flat worth $700k, mortgage outstanding $200k.
Plan: Sell flat for $700k, use net proceeds of $500k as 50% downpayment of a $1m condo in a high class condo along the prestigious Upper Bukit Timah precinct. Mortgage loan of $500k to be paid over 25 years. We look forward to upgrading our lifestyle and social status.
Reply With Quote
  #3130 (permalink)  
Old 09-11-2013, 12:35 PM
Unregistered
Guest
 
Posts: n/a
Default

46, retired, passive income $80k pa. Wife, 38, salaried worker, $70k pa.
Expenses $100k pa. 3 room condo and car paid up. Debt free.
Reply With Quote
Reply

Bookmarks

Tags
bond, bond breaking, income pa, lawyer, saf

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Industries with Highest Proportion Earning 5-Figure Monthly Income Salary.sg Income and Jobs 25 23-04-2021 10:40 PM
Lawyer earning $25k/mth forged $65k payslip to get job Salary.sg Income and Jobs 2 30-12-2011 02:42 PM

» 30 Recent Threads
Micron starting pay ( 1 2 3... Last Page)
662 Replies, 271,744 Views
How much CPF do u have? ( 1 2 3... Last Page)
66 Replies, 37,581 Views
Lawyer Salary ( 1 2 3... Last Page)
18,833 Replies, 7,968,083 Views
Singapore Power EDGE Program ( 1 2 3... Last Page)
30 Replies, 7,252 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,126 Replies, 800,993 Views
DBS ACE Programme ( 1 2 3... Last Page)
74 Replies, 24,250 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
5,021 Replies, 2,793,542 Views
How much are you earning per annum? ( 1 2 3... Last Page)
13,557 Replies, 5,654,753 Views
Career as Teacher ( 1 2 3... Last Page)
7,043 Replies, 4,465,463 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
884 Replies, 271,073 Views
Compare civil service salary ( 1 2 3... Last Page)
15,138 Replies, 10,294,892 Views
GovTech ( 1 2 3... Last Page)
3,512 Replies, 1,202,553 Views
Singtel Management Associate... ( 1 2 3... Last Page)
1,179 Replies, 408,236 Views
DBS tech seed programme ( 1 2 3... Last Page)
2,822 Replies, 920,470 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,031 Replies, 3,602,657 Views
Singapore Examination and...
2 Replies, 4,161 Views
IMDA (under MCI) ( 1 2 3... Last Page)
474 Replies, 230,623 Views
Singapore LNG Pay
7 Replies, 4,066 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,263 Replies, 1,026,016 Views
If you can't find a company here... ( 1 2 3... Last Page)
119 Replies, 25,990 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,054 Replies, 537,926 Views
Enterprise Singapore hiriing... ( 1 2 3... Last Page)
172 Replies, 166,873 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
204 Replies, 236,310 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
4,278 Replies, 3,444,651 Views
ITE (lecturer) ( 1 2 3... Last Page)
259 Replies, 300,739 Views
Roles in accenture singapore ( 1 2 3... Last Page)
5,667 Replies, 1,413,072 Views
ST Electronics ( 1 2 3... Last Page)
3,246 Replies, 1,061,404 Views
AISG (AI Singapore)
0 Replies, 106 Views
BCA (Building and Construction...
0 Replies, 115 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 03:41 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2023, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2