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How much are you earning per annum?

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  #8211 (permalink)  
Old 20-07-2015, 05:06 PM
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What nonsense are you talking about?

Children don't contribute at all? Nonsense. I've contributed thousands of dollars to my parents for so many years even though they were working and earning and I expect my children to do likewise. If your own children don't do that, don't impose your ideas on others. That's arrogant.

At 65 and you still ask people to work? Work until when? 80? Then die at 81?

We all know that you are rich and have a net worth of $5m and you still want to work. This is up to you but don't impose your ideas on others.

Everyone has the right to decide on when they want to retire. Those who value their free time more to pursue other interests, let them do so. As long as they have the means to support their retirement, let them be. They may prefer a simple retirement lifestyle and this is their choice. If your idea of retirement is to spend and spend, then go and work until you are very old and leave your millions behind for your children to fight over when you die. Good luck!

You giving at least 2k pm at present in present money. Asking 5k pm from your children in 22 years time is definitely not too much. So getting from 2 children already get you 10k pm. Plus 7k CPF life (you and your wife) will get 17k pm. I believe you should be getting fine when you retire in 22 years to come.

This should be the way to retire rich.

Your parents are also retiring ok now as they will get 2k from you, 2k from other siblings, plus 2.4k from CPF life. If having some saving, they should getting 10k passive income a month.........

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  #8212 (permalink)  
Old 20-07-2015, 05:10 PM
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Singaporean senior citizen Seah, 70 ,working to survive their life in the island republic.

Are you one of the Seah's? Plan properly or else you still have to work at 70 years old just be another Seah in the republic.



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  #8213 (permalink)  
Old 20-07-2015, 06:35 PM
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Here's my retirement strategy as a retired couple:

Passive income sources:

1. CPF Life = $3500 pm ($1750 pm for each of us)
2. Private annuity plan = $2000 pm ($1000 pm for each of us)
3. Dividends = $2000 pm
4. Children's contribution = $1000 pm ($500 pm by each child)
5. Total passive income = $8500 pm ($102k pa)

Expected expenses (comfortable retirement lifestyle) = $4500 pm ($54k pa)

Annual savings (for reinvestment) = $4000 pm ($48k pa)

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  #8214 (permalink)  
Old 20-07-2015, 07:37 PM
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Quote:
Originally Posted by Unregistered View Post
Here's my retirement strategy as a retired couple:

Passive income sources:

1. CPF Life = $3500 pm ($1750 pm for each of us)
2. Private annuity plan = $2000 pm ($1000 pm for each of us)
3. Dividends = $2000 pm
4. Children's contribution = $1000 pm ($500 pm by each child)
5. Total passive income = $8500 pm ($102k pa)

Expected expenses (comfortable retirement lifestyle) = $4500 pm ($54k pa)

Annual savings (for reinvestment) = $4000 pm ($48k pa)

When are you going to retire?
This year?
In 20 years?
In 30 years?
Definitely you can retire comfortably with 4500 pm this year.
If 20 years from now, purchasing power may be 2500 present money.
HDB 5 rooms will be 1.5m.
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  #8215 (permalink)  
Old 20-07-2015, 08:19 PM
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When are you going to retire?
This year?
In 20 years?
In 30 years?
Definitely you can retire comfortably with 4500 pm this year.
If 20 years from now, purchasing power may be 2500 present money.
HDB 5 rooms will be 1.5m.
Property market will be in a downtrend for many years. HDB resale flat prices could be lower than today's price in 20 years time. We are in a deflation environment. With massive oversupply and no demand and not many new FTs coming, property market will surely go down unless there is a reverse in policy, more immigration, more FTs coming.
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  #8216 (permalink)  
Old 20-07-2015, 10:24 PM
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Quote:
Originally Posted by Unregistered View Post
Here's my retirement strategy as a retired couple:

Passive income sources:

1. CPF Life = $3500 pm ($1750 pm for each of us)
2. Private annuity plan = $2000 pm ($1000 pm for each of us)
3. Dividends = $2000 pm
4. Children's contribution = $1000 pm ($500 pm by each child)
5. Total passive income = $8500 pm ($102k pa)

Expected expenses (comfortable retirement lifestyle) = $4500 pm ($54k pa)

Annual savings (for reinvestment) = $4000 pm ($48k pa)
Private annuity plan with which insurer? How much lump sum did u put in and when? Thanks
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  #8217 (permalink)  
Old 20-07-2015, 10:46 PM
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Quote:
Originally Posted by Unregistered View Post
Property market will be in a downtrend for many years. HDB resale flat prices could be lower than today's price in 20 years time. We are in a deflation environment. With massive oversupply and no demand and not many new FTs coming, property market will surely go down unless there is a reverse in policy, more immigration, more FTs coming.

How much was a 5 rooms HDB flat 20 years ago? Higher than the present price?
So 20 years down the road, similar trend prevails.
Short term may be slightly up or down. Long term is always up!!!!!!!!
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  #8218 (permalink)  
Old 20-07-2015, 11:54 PM
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Quote:
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How much was a 5 rooms HDB flat 20 years ago? Higher than the present price?
So 20 years down the road, similar trend prevails.
Short term may be slightly up or down. Long term is always up!!!!!!!!
so easy all the hedge funds, investment managers and private equity firms in the world close shop sua. just buy singapore property can already.
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  #8219 (permalink)  
Old 21-07-2015, 07:26 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.

Quote:
Originally Posted by Unregistered View Post
What nonsense are you talking about?

Children don't contribute at all? Nonsense. I've contributed thousands of dollars to my parents for so many years even though they were working and earning and I expect my children to do likewise. If your own children don't do that, don't impose your ideas on others. That's arrogant.

At 65 and you still ask people to work? Work until when? 80? Then die at 81?

We all know that you are rich and have a net worth of $5m and you still want to work. This is up to you but don't impose your ideas on others.

Everyone has the right to decide on when they want to retire. Those who value their free time more to pursue other interests, let them do so. As long as they have the means to support their retirement, let them be. They may prefer a simple retirement lifestyle and this is their choice. If your idea of retirement is to spend and spend, then go and work until you are very old and leave your millions behind for your children to fight over when you die. Good luck!
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  #8220 (permalink)  
Old 21-07-2015, 09:49 AM
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Quote:
Originally Posted by Unregistered View Post
Here's my retirement strategy as a retired couple:

Passive income sources:

1. CPF Life = $3500 pm ($1750 pm for each of us)
2. Private annuity plan = $2000 pm ($1000 pm for each of us)
3. Dividends = $2000 pm
4. Children's contribution = $1000 pm ($500 pm by each child)
5. Total passive income = $8500 pm ($102k pa)

Expected expenses (comfortable retirement lifestyle) = $4500 pm ($54k pa)

Annual savings (for reinvestment) = $4000 pm ($48k pa)
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.
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