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How much are you earning per annum?

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  #8221 (permalink)  
Old 21-07-2015, 10:29 AM
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retiring liao, still reinvest for what? bringing your investments with you when you pass on?

no wonder singaporeans need so much money to retire, cos they have poor retirement planning. i would cut off that reinvestment portion and ask your children to keep their money for themselves, and enjoy myself with the remaining 7500.
I dont see a reason of not reinvesting. Good also what, you can pass the money to your kids after u pass away. This is a good retirement plan, stable and solid

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  #8222 (permalink)  
Old 21-07-2015, 11:58 AM
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The truth hurts doesn't it?

Imagine if your children's parents-in-laws were like you and demanding allowance then it will be a double burden for them.

Renting out your rooms? What if they ended staying in your 4 room flat because after giving you and their in laws allowances they find it hard to fund having their own place?

Nobody knows when they will die, but studies have shown that retiring early without meaningful mental engagement will dull the mind and lead to early death.

Instead of being angry you should take another look at the views of others and see how to ensure a more financially secure retirement. Remember, we are our most important asset for generating income, not our home, not your children and not even your investment. Once you retire, you are not making use of this one important asset - yourself.

Very few people if any, are able to generate passive income that exceeds their work income. At most, they can only hope to have their passive income cover their expenses. This was what we aim to achieve.

I concur.
Can you generate 70% replacement income when you retire?
Just spend 60%, and let the other 10% taking care of inflation.

Still make children's contributions as part of your retirement income? Their in laws will also be expecting that too.

Want to rent out extra room to supplement your retirement income?
What happen your grand children want to put up a night with you?
Will your tenant feel happy when your grand children playing with you creating too much noise?
Bear in mind, tenant has his right of privacy when you rented your room to him. He pays and deserve that privacy.

What to retire rich? Ask from one child 5k, 2 children 10k. You will live like a duke.



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  #8223 (permalink)  
Old 21-07-2015, 12:05 PM
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so easy all the hedge funds, investment managers and private equity firms in the world close shop sua. just buy singapore property can already.

Are you suggesting property in Singapore will drop in price for next 20 years?

The price now is higher than the price in 20 years to come?

Then you should quickly sell and keep your money before your property become worthless.

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  #8224 (permalink)  
Old 21-07-2015, 01:42 PM
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If measures are not reversed, property will crash. The biggest problem is the inflow of FTs now are not many and we have so many condos going TOP. You will see many dark empty condos. Ghost condos.

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Are you suggesting property in Singapore will drop in price for next 20 years?

The price now is higher than the price in 20 years to come?

Then you should quickly sell and keep your money before your property become worthless.
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  #8225 (permalink)  
Old 21-07-2015, 03:03 PM
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I dont see a reason of not reinvesting. Good also what, you can pass the money to your kids after u pass away. This is a good retirement plan, stable and solid
I would leave my kids to strike it out on their own. I provide them with their basic education until university. I don't want to give them a headstart and make them lazy. What is left can be passed to them but I won't save on myself.
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  #8226 (permalink)  
Old 21-07-2015, 03:31 PM
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I would leave my kids to strike it out on their own. I provide them with their basic education until university. I don't want to give them a headstart and make them lazy. What is left can be passed to them but I won't save on myself.
I concur. Kids nowadays are too pampered. They should work hard and achieve their own success. Our job is to give them a good education. Anyway, BTO flats are very cheap. I'm sure they can afford a $200k four room BTO flat. They can easily pay off the flat is less than 10 years if they are not spendthrift.
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  #8227 (permalink)  
Old 21-07-2015, 07:25 PM
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In order to prepare for retirement, we have decided to focus on maximising our CPF SA so that we can go for the CPF Life enhanced option. We have cleared our HDB loan and now debt free. This is a big achievement for us as we only earn $110k pa in total. We are 43 & 46 years old.

With the enhanced CPF Life option, we can get $1800 pm each when we reach 65. So our total income from CPF Life is $3600 pm. We will also have some investments which give us $1000 pm in income. We can also do the reverse mortgage and hope to get $1000 pm. So in total our income is $5600 pm. If we are lucky our children will give us say $300 pm each, so we get $600 pm. In total our income is $6200 pm. Since expenses may only be $4500 pm, we can still save.
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  #8228 (permalink)  
Old 21-07-2015, 07:36 PM
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In order to prepare for retirement, we have decided to focus on maximising our CPF SA so that we can go for the CPF Life enhanced option. We have cleared our HDB loan and now debt free. This is a big achievement for us as we only earn $110k pa in total. We are 43 & 46 years old.

With the enhanced CPF Life option, we can get $1800 pm each when we reach 65. So our total income from CPF Life is $3600 pm. We will also have some investments which give us $1000 pm in income. We can also do the reverse mortgage and hope to get $1000 pm. So in total our income is $5600 pm. If we are lucky our children will give us say $300 pm each, so we get $600 pm. In total our income is $6200 pm. Since expenses may only be $4500 pm, we can still save.
CONGRATS! CPF has helped you with your retirement plans. Thank the PAP and LKY for implementing it.
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  #8229 (permalink)  
Old 21-07-2015, 07:39 PM
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I concur. Kids nowadays are too pampered. They should work hard and achieve their own success. Our job is to give them a good education. Anyway, BTO flats are very cheap. I'm sure they can afford a $200k four room BTO flat. They can easily pay off the flat is less than 10 years if they are not spendthrift.
kids have it easy now, last time my parents didn't even think of leaving money for me n my siblings. now parents want to take care of their kids even after they die.
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  #8230 (permalink)  
Old 21-07-2015, 08:02 PM
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kids have it easy now, last time my parents didn't even think of leaving money for me n my siblings. now parents want to take care of their kids even after they die.
Parents pampering their children, spoil them. Make them weak. Not wise to do that.
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