How much are you earning per annum?

Originally Posted by Unregistered

Household family income $175k pa ($14,583 pm)
Household family expenses $130k pa ($10,833 pm)
Household family savings $45k pa ($3,750 pm)

Family residence is a new 3 BR condo, paid up. Current value $1m. We own a two year old small car, paid up.

Since we are debt free, we plan to retire in ten years time at 55. We will draw down on our cash savings to fund our retirement from 55 to 65. At 65, we will receive our CPF Life ($3600 pm or $43k pa) which will fund our retirement from 65 onwards, until we die. Our two children will give us parental allowance of $1k pm in total ($12k pa) ($500 pm from each of them) when we retire at 55, following my family's tradition of filial piety.

Our retirement expenses will not be much as the two of us just need money for food, utilities, condo maintenance fees, public transport and short holidays nearby. The most $3k pm ($36k pa). At age 65, our total passive income $4600 pm ($55k pa).

you better pray hard that government dont shift the goal post, and move back the CPFlife drawdown age to beyond 70. you dont want be caught off guard.

37 yr old
poly lecturer
Annual income: Around $95k

Originally Posted by Unregistered

Household family income $175k pa ($14,583 pm)
Household family expenses $130k pa ($10,833 pm)
Household family savings $45k pa ($3,750 pm)

Family residence is a new 3 BR condo, paid up. Current value $1m. We own a two year old small car, paid up.

Since we are debt free, we plan to retire in ten years time at 55. We will draw down on our cash savings to fund our retirement from 55 to 65. At 65, we will receive our CPF Life ($3600 pm or $43k pa) which will fund our retirement from 65 onwards, until we die. Our two children will give us parental allowance of $1k pm in total ($12k pa) ($500 pm from each of them) when we retire at 55, following my family's tradition of filial piety.

Our retirement expenses will not be much as the two of us just need money for food, utilities, condo maintenance fees, public transport and short holidays nearby. The most $3k pm ($36k pa). At age 65, our total passive income $4600 pm ($55k pa).

Your plan looks decent. With a modest retirement lifestyle, you can retire early. There is no need to own a car when you retire, especially if your condo in close to an MRT station. When you retire, you don't need to rush to go places.

Originally Posted by Unregistered

Household family income $175k pa ($14,583 pm)
Household family expenses $130k pa ($10,833 pm)
Household family savings $45k pa ($3,750 pm).

Let me teach you how to cover up your lies aka csb.

Firstly, while it is common for people to say that their per annum is 175k, it is illogical for that same person to say that monthly is 175k/12 = 14.538k. Which working adult has no bonus??

Also while it is also common for people to say that their expenses total 130k, it is extremely weird for that same person to say that their monthly expense is 130k/12 = 10.833k. Expenses are lumpy eg IRAS, CNY and therefore no one will say that his monthly expense is annual/12. Neither will anyone say that his annual expense = monthly X 12 cos the expenses are lumpy so which month are Yiu going to take??

Savings - this is also a lumpy item. While one may have a yearly savings number, the monthly savings number will almost never be annual/12 (45k/12 = 3.75k) as most people's savings come from bonus especially if your HH is just making 175k pa.

Hope that you stop the c.rap posts. Not sure why you have a need to post these kind of csb in an anonymous forum...

I strongly suspect the poster is a teenager because he doesn't seem to understand inflation, and what it takes to maintain a family.

I also think he was responsible for many of the repetitive and very irritating posts:

1. Age 47/48, wife income, husband income, etc.... How are we doing? How about yours? Etc
2. Self praising response. You are in upper middle class, can retire well etc.. (His lack of knowledge of finances/inflation very apparent here)

3. I retire at/before 50. Work in high stressed environment, made good investment etc..(never provided any quantitative figures to back claims)
4. Self praising response such as "you are the most successful blah blah blah...

As I mentioned before, until we get rid the above joker/loser, the standard of this forum will never recover.

Originally Posted by Unregistered

Let me teach you how to cover up your lies aka csb.

Firstly, while it is common for people to say that their per annum is 175k, it is illogical for that same person to say that monthly is 175k/12 = 14.538k. Which working adult has no bonus??

Also while it is also common for people to say that their expenses total 130k, it is extremely weird for that same person to say that their monthly expense is 130k/12 = 10.833k. Expenses are lumpy eg IRAS, CNY and therefore no one will say that his monthly expense is annual/12. Neither will anyone say that his annual expense = monthly X 12 cos the expenses are lumpy so which month are Yiu going to take??

Savings - this is also a lumpy item. While one may have a yearly savings number, the monthly savings number will almost never be annual/12 (45k/12 = 3.75k) as most people's savings come from bonus especially if your HH is just making 175k pa.

Hope that you stop the c.rap posts. Not sure why you have a need to post these kind of csb in an anonymous forum...

Originally Posted by Unregistered

Age 28

Annual Income: around 50k
Cash Savings: around 80k
CPF: around 25k
Investment: 3k
Going to get married this year
Monthly passive income: $120 on average
No property under my name

I think I am pretty average

Pretty average for a person your age ie pathetic like most of us

Originally Posted by chin lin

HERE IS MY TESTIMONY ON HOW I GOT A RICH SUGAR MUMMY CONNECTION
My name is Mr chin am a chinese but live in Singapore ..

Yo Chin. F-O. Wrong forum.

Another story ... he is 56, very rich but don't want to retire. His net worth is $5m ... blah blah blah ... hahaha

Originally Posted by Unregistered

I strongly suspect the poster is a teenager because he doesn't seem to understand inflation, and what it takes to maintain a family.

I also think he was responsible for many of the repetitive and very irritating posts:

1. Age 47/48, wife income, husband income, etc.... How are we doing? How about yours? Etc
2. Self praising response. You are in upper middle class, can retire well etc.. (His lack of knowledge of finances/inflation very apparent here)

3. I retire at/before 50. Work in high stressed environment, made good investment etc..(never provided any quantitative figures to back claims)
4. Self praising response such as "you are the most successful blah blah blah...

As I mentioned before, until we get rid the above joker/loser, the standard of this forum will never recover.

Originally Posted by Unregistered

Pretty average for a person your age ie pathetic like most of us

No choice.. I am just a salaryman.. Nothing much i can do

Originally Posted by Unregistered

37 yr old
poly lecturer
Annual income: Around $95k

I didn't know a poly lecturer can make so much. The older lecturers are being left behind because of being stuck in the band. Enjoy.