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How much are you earning per annum?

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  #4881 (permalink)  
Old 16-07-2014, 08:41 PM
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curios, are you running your own or family business? 240k is a lot at such a young age.
No, we are both employees in the financial sector, with me in a front office.

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  #4882 (permalink)  
Old 16-07-2014, 08:55 PM
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With a simple retirement lifestyle, you won't need much. If you stay in your condo and assuming you have $1m cash to invest, you can get 5% dividend yield in good stocks or $50k pa. And let's assume your CPF Life pays you $1.5k pm or $18k pa, you will have passive income of $68k pa or $5.6k pm. I think for a retired couple, this is sufficient. If you have kids and they give you a total allowance of $1k pm, you will have $6.6k pm. This is definitely a lot, especially since you don't own a car.


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48, sole breadwinner, $150k pa. Wife, 46, is a home maker. Upgraded to a condo in 2003, paid $500k. Now fully paid up. Current valuation, $1m. Drives an old car, paid up.

Current spending, $100k pa. Savings, $50k pa including CPF savings.

Current combined net worth, $1.5m. Hope to reach a combined net worth of $2.5m at least when I reach 68, my target retirement age.

Any comments whether a net worth of $2.5m is enough for a retired couple in Singapore?
We plan to retire simply, not aiming to travel the world as we have enough of traveling. Also, we will not own a car any more. We will cook our own meals and eat at hawker centers.


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  #4883 (permalink)  
Old 16-07-2014, 10:33 PM
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Blind leading the blind. Don't forget when all else fail, you can also survive on charity.

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With a simple retirement lifestyle, you won't need much. If you stay in your condo and assuming you have $1m cash to invest, you can get 5% dividend yield in good stocks or $50k pa. And let's assume your CPF Life pays you $1.5k pm or $18k pa, you will have passive income of $68k pa or $5.6k pm. I think for a retired couple, this is sufficient. If you have kids and they give you a total allowance of $1k pm, you will have $6.6k pm. This is definitely a lot, especially since you don't own a car.

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  #4884 (permalink)  
Old 17-07-2014, 12:06 AM
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I noticed many posters (could well be only one poster but writing under different guises) asking for advice regarding their retirement. Many of the posts are very general without giving specifics about their envisaged retirement lifestyle. This showed they are either not sincere, totally clueless where to start, or trying to fish for ideas.

And worst, there is always this poster who would respond by telling people to downgrade to HDB studio apartment, not to womanise, sodomise, do charity etc.... I dont know about you all, but I find the response totally useless coupled with the irrelevant remarks. It does not even care to consider the person's specific circumstances and aspirations. Downgrading to a studio apartment is not for everyone. Some still have grown handicapped children to support etc....

Planning for retirement is not rocket science. It is difficult only because savings do not always match aspirations, coupled with the many uncertainties in life. There are 3 big steps to do.

The first big step is to determine / define the lifestyle one wish to have in retirement (& therefore the amount needed per year), estimate the number of years to live in retirement, and calculate the total amount needed to sustain that retirement (remember to factor in the deleterious effect of inflation). This first big step is more mathematical and thus not so subjective. For me, the sum I need to fund 30 years in retirement is $3.0m or $100k pa (not counting my home because I dont intend to downgrade from home nor my present lifestyle).

The second big step is to determine the "funding" model for your retirement. I broadly classify them into 3 models.

Model 1: Draw down model.
This is the simplest model. In step 1, you have determined your required sum to retirement. For eg, I needed $3.0m. Using this model means I need to have $3.0m before I can commence my retirement, and then upon retirement, I will just draw down from the fund till it runs out in the 30 years I planned to live in retirement.

Model 2: "Perpetual" Income model
This is the ideal model where your investment provides you with passive income throughout your retirement (like pension). Investment in stocks of solid businesses that give out consistent dividends that can keep pace with inflation is the holy grail of passive income investment. Rental income from investment properties is another possible source. For eg, if I establish a passive income of $110K pa (with some buffer) I would not need to have the full $3.0m before I commence my retirement.

Model 3: Hybrid of draw down and passive income model
This is probably the model that most people would have. Many people would not have the ability, courage to put everything into stocks or investment thus they will not be able to generate sufficient passive income.

Under model 1 and 3, your money will run out eventually leaving nothing for your loved ones who survive you.

The last big step (step 3) is to find the right investment to grow your nest egg and sustain your retirement. This is the most subjective and contentious topic. Everyone can claim they have achieved success but it is important to recognise that what works for them may not work for you. For eg, I bought a 1 kg of gold bar 15 years ago, and its value grew very nicely for me, but I dont think it will work for you if you buy it now.

Likewise people who bought properties during the 1998/99 Asian Financial Crisis are sitting on millions of capital gain but do you think property investment in today's climate will work for you?

For me, because my goal is to achieve $3.0m or a passive income of $110k pa, I came to the sobering conclusion that I better continue working past 55 although my passive income currently is $80 k pa.

So to conclude, retirement planning starts with you knowing the lifestyle you want to lead (STEP 1). Steps 2 and 3 are where you will need some expert advise and not from this kind of forum.
Finally some useful info amongst all the crap. Thank you for your sharing!

PS: to the anti-womanising HDB downgrader fool - go jump off ur HDB PLEASE.
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  #4885 (permalink)  
Old 17-07-2014, 12:42 PM
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Finally some useful info amongst all the crap. Thank you for your sharing!

PS: to the anti-womanising HDB downgrader fool - go jump off ur HDB PLEASE.

Sad. You have brought down the level of graciousness in this forum. Your comments reflect your upbringing.
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  #4886 (permalink)  
Old 17-07-2014, 09:12 PM
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sad. You have brought down the level of graciousness in this forum. Your comments reflect your upbringing.
#######dftt
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  #4887 (permalink)  
Old 17-07-2014, 09:36 PM
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Sad. You have brought down the level of graciousness in this forum. Your comments reflect your upbringing.
shut the f**kup lah a**hole. He is right u Sh**. Downgrading????Loser that cant plan
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  #4888 (permalink)  
Old 17-07-2014, 10:19 PM
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25 female this year
55 k pa
junior civil servant
net worth 45k
no debts no loans... yet.
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  #4889 (permalink)  
Old 19-07-2014, 12:20 AM
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shut the f**kup lah a**hole. He is right u Sh**. Downgrading????Loser that cant plan
Bravo, another intelligent post!
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  #4890 (permalink)  
Old 19-07-2014, 08:22 AM
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25 female this year
55 k pa
junior civil servant
net worth 45k
no debts no loans... yet.
You are doing okay. As long as you do not manise, do not smoke or drink and make sure to save your money properly, you will do very well in the future. Buy a HDB and slowly upgrade to a condo, and later during retirement you can exercise in your condo gym and later downgrade to a HDB again in the up-and-coming Jurong region and live happily ever after. But remember these words- Do not manise!!
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