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.


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


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


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
  #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
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.
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
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,309 Replies, 4,983,264 Views
Lawyer Salary ( 1 2 3... Last Page)
21,014 Replies, 10,329,157 Views
GovTech ( 1 2 3... Last Page)
5,161 Replies, 2,163,525 Views
Career as Teacher ( 1 2 3... Last Page)
10,833 Replies, 6,665,997 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,801 Replies, 1,044,019 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
679 Replies, 388,346 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
207 Replies, 134,573 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,922 Replies, 2,902,620 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,455 Replies, 784,413 Views
Nparks ( 1 2 3... Last Page)
39 Replies, 34,371 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,828 Replies, 4,656,773 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
309 Replies, 369,015 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,338 Replies, 4,770,313 Views
Compare civil service salary ( 1 2 3... Last Page)
16,342 Replies, 12,455,133 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
169 Replies, 309,126 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 813,918 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,805 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,385 Replies, 2,324,130 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 358,407 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,049 Replies, 440,560 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,375,205 Views
ST Electronics ( 1 2 3... Last Page)
3,767 Replies, 1,544,502 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 613,575 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,738,495 Views
MX12 reappointed at MX11
8 Replies, 813 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
749 Replies, 405,522 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,329 Replies, 1,142,091 Views
MFA- Foreign Service... ( 1 2 3... Last Page)
54 Replies, 84,968 Views
Cybersecurity/Info security career ( 1 2 3... Last Page)
511 Replies, 268,594 Views
Singapore Airlines ( 1 2 3)
22 Replies, 11,279 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 03:17 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2