How much are you earning per annum?

You can get a very cheap BTO 4 room flat for only $200k. You and your wife must work and you can pay off your mortgage fast as your salaries will rise over the years. So after you pay your mortgage, you and wife can build up your CPF min sum to $241,500.

Of course your children must give you allowance as it is their responsibility. You must teach them the right values they are young.

If you don't want to rent out your rooms, it is yours choice but your combined passive income will be = $1900 + $1900 + $1000 = $4800. This is actually enough for two retired old people as long as they don't have bad sinful habits such as gambling, smoking, drinking, womanizing, partying, overspending, etc. They must also not employ a maid and must not own a car. Live a simple good life. Must also exercise to keep fit.

Originally Posted by Unregistered

The problem is after paying your mortgage using CPF OA/SA, do you still have $241,500 in your CPF to be remitted to CPF Life at age 55? And another $241,500 for your wife?

Why you need to rely on your children, is it a norm? How sure your children can earn enough to feed himself and his family?

Why want to to rent out your rooms to strangers? You don't value privacy?

If you earn small income now, better don't buy cars and engage maid. Try to make your money grow faster. Unless you are high achiever, you won't grow rich by mere savings.

You can get a new BTO 3 room flat for $160k - $170k. This is very cheap. No wonder so many people all over the world want to become Singapore citizens and apply for very cheap BTO flats.

So, don't say housing is expensive. It is very cheap.

Of course if you want to buy a condo in D9, then it is expensive and if you want to buy a bungalow, it is even more expensive.

Just live within your means and stop complaining.

Originally Posted by Unregistered

You can get a very cheap BTO 4 room flat for only $200k. You and your wife must work and you can pay off your mortgage fast as your salaries will rise over the years. So after you pay your mortgage, you and wife can build up your CPF min sum to $241,500.

Of course your children must give you allowance as it is their responsibility. You must teach them the right values they are young.

If you don't want to rent out your rooms, it is yours choice but your combined passive income will be = $1900 + $1900 + $1000 = $4800. This is actually enough for two retired old people as long as they don't have bad sinful habits such as gambling, smoking, drinking, womanizing, partying, overspending, etc. They must also not employ a maid and must not own a car. Live a simple good life. Must also exercise to keep fit.

Originally Posted by Unregistered

You can get a very cheap BTO 4 room flat for only $200k. You and your wife must work and you can pay off your mortgage fast as your salaries will rise over the years. So after you pay your mortgage, you and wife can build up your CPF min sum to $241,500.

Of course your children must give you allowance as it is their responsibility. You must teach them the right values they are young.

If you don't want to rent out your rooms, it is yours choice but your combined passive income will be = $1900 + $1900 + $1000 = $4800. This is actually enough for two retired old people as long as they don't have bad sinful habits such as gambling, smoking, drinking, womanizing, partying, overspending, etc. They must also not employ a maid and must not own a car. Live a simple good life. Must also exercise to keep fit.

Diu u ok. Cheap 4 room BTO flat for only 200K. Where in Singapore? Ma de you still living in the 1980s where BTO only costs 80K plus ah? Another idiot coming in here to anyhow comment. Find more one pls...no wonder salary.sg is losing its credibility...

[lazyplane]

Just to be clear, only CPF OA can be used for property. U cant use your SA.
Hence SA is practically untouchable unless you went to invest in SA approved products which is a very narrow list .

Originally Posted by Unregistered

The problem is after paying your mortgage using CPF OA/SA, do you still have $241,500 in your CPF to be remitted to CPF Life at age 55? And another $241,500 for your wife?

Why you need to rely on your children, is it a norm? How sure your children can earn enough to feed himself and his family?

Why want to to rent out your rooms to strangers? You don't value privacy?

If you earn small income now, better don't buy cars and engage maid. Try to make your money grow faster. Unless you are high achiever, you won't grow rich by mere savings.

Originally Posted by Unregistered

Diu u ok. Cheap 4 room BTO flat for only 200K. Where in Singapore? Ma de you still living in the 1980s where BTO only costs 80K plus ah? Another idiot coming in here to anyhow comment. Find more one pls...no wonder salary.sg is losing its credibility...

You are the IDIOT. It is not impossible if you take into account the generous grants for first time buyer with low income.

Have you ever wondered how much does a retired couple today needs every month?
Assume debt free (cleared home mortgage).

Let's do the maths:

1. Food - breakfast, lunch, dinner - $3 per meal (takeaway) x 2 persons x 3 meals x 30 days = $540
2. Other groceries = $200
3. Utilities = $100
4. Public transport = $30 (concessionary fares)
5. Medical (poly clinic, subsidised) = $50
6. Miscellaneous = $80

Total = $1000

So, if you and your wife each has $161,000 in your cpf SA at 55 yo, when you reach 65, you will each get $1,200 pm or $2,400 pm in total from CPF Life. So, you have enough.

If you want $1900 pm each or $3800 pm in total, you must each have $241,500 in your cpf SA at 55.

You don't have to depend on your kids for allowance, if they give, just take and keep.

Hey dude, dont forget the $1.2K or $1.9K payout is today's dollars and the gahmen didnt say it will keep pace with inflation when you hit 65, a good 15 to 20 years away?

I copied the below from: ://.salary.sg/

"The following are the official annual CPI inflation rates for Singapore since 1980, published by The Department of Statistics (government agency).

How is your salary affected by inflation?

Inflation figures:
1980 to 1989: 8.5% 8.2% 3.9% 1.2% 2.6% 0.5% -1.4% 0.5% 1.5% 2.4%
1990 to 1999: 3.4% 3.4% 2.3% 2.3% 3.1% 1.7% 1.4% 2% -0.3% 0%
2000 to 2009: 1.3% 1% -0.4% 0.5% 1.7% 0.5% 1% 2.1% 6.6% 0.6%
2010 to 2014: 2.8% 5.2% 4.6% 2.4% 1%

Each number may not seem high, but over the years, the numbers have a cumulative effect that is significant enough to surprise people.

For example, a starting pay of $3,000 in 2014 is equivalent to just $2,307 ten years earlier. A wealth of $1 million in 2014 is worth less than $740k fifteen years earlier.

What you earn now can’t buy you as many things as before if you made the same amount".

So for those retirees still staying in condos, the $1.2k payout per month may just be enough to pay for their monthly maintenance bill 20 years down the road!

Originally Posted by Unregistered

Have you ever wondered how much does a retired couple today needs every month?
Assume debt free (cleared home mortgage).

Let's do the maths:

1. Food - breakfast, lunch, dinner - $3 per meal (takeaway) x 2 persons x 3 meals x 30 days = $540
2. Other groceries = $200
3. Utilities = $100
4. Public transport = $30 (concessionary fares)
5. Medical (poly clinic, subsidised) = $50
6. Miscellaneous = $80

Total = $1000

So, if you and your wife each has $161,000 in your cpf SA at 55 yo, when you reach 65, you will each get $1,200 pm or $2,400 pm in total from CPF Life. So, you have enough.

If you want $1900 pm each or $3800 pm in total, you must each have $241,500 in your cpf SA at 55.

You don't have to depend on your kids for allowance, if they give, just take and keep.

Originally Posted by Unregistered

Have you ever wondered how much does a retired couple today needs every month?
Assume debt free (cleared home mortgage).

Let's do the maths:

1. Food - breakfast, lunch, dinner - $3 per meal (takeaway) x 2 persons x 3 meals x 30 days = $540
2. Other groceries = $200
3. Utilities = $100
4. Public transport = $30 (concessionary fares)
5. Medical (poly clinic, subsidised) = $50
6. Miscellaneous = $80

Total = $1000

So, if you and your wife each has $161,000 in your cpf SA at 55 yo, when you reach 65, you will each get $1,200 pm or $2,400 pm in total from CPF Life. So, you have enough.

If you want $1900 pm each or $3800 pm in total, you must each have $241,500 in your cpf SA at 55.

You don't have to depend on your kids for allowance, if they give, just take and keep.

Having few things I cannot understand:-
1. Why no budget for house and car maintenance?
2. Why your house furniture can last for hundred years?
3. Why love to rely on your children for financial support?
4. Why always your children can earn big salary to support their own family, at the same time able to take care of your financial requirement?
5. Why love to rent out rooms to strangers?
6. Why like to depend solely on CPF Life?
7. Why need to lower standard of living when retired?
8. Why want to buy car even if you cannot afford one?
9. Why are you not saving enough for your retirement?
10. Why plan to survive on $3 per meal budget from the first day till you kick bucket?

Many more questions , all boil down to one source of problem. You have live beyond your means during your youthful years. Never save enough for your golden years.

Will we see a freak result next Tues when the COE bidding days is cut down to 2 days due to CNY? If yes, it will be very exciting to watch COE drop below $50k for a first time after so long period. Huat ah!

Originally Posted by Unregistered

You are the IDIOT. It is not impossible if you take into account the generous grants for first time buyer with low income.

Diu u again. U r a fking BIGGEST IDIOT IN Singapore. Take what into account? Even if you take into account the so called "generous" grants for first time idiot with low income, you will fking never get at 4 room BTO at 200K. We are talking about a FOUR (4) room BTO (open your small eyes and look properly old man). Dont believe go HDB website check it out. Still dont believe call HDB officer and ask.

What a cockster. Dont know dont anyhow come here spew nonsense. Ma de fcking uncle/auntie