How much are you earning per annum?

Originally Posted by Unregistered

why the f are you answering yourself

How you know it is the same person or are you just guessing?

Originally Posted by Unregistered

Congrats! You have done extremely well given your past circumstances.

Thank you. We are living the Singapore Dream. It is a privilege to be in the top 10%.

Originally Posted by Unregistered

How you know it is the same person or are you just guessing?

read his writing style and punctuation habits. fkn obvious he's a siao lang

Dont waste bandwidth on that poster. He has been repeating the same post ad nauseum.

What I wanted to share today is a little observation I had of my cohort of friends. We are all passed 55 with the oldest at 59. There are 6 of us, and all but one are still working.

Observations:
1. None of us has withdrawn any money from our CPF since we turned 55. Obviously, still earning an income means we dont need to touch our CPF savings. The retired guy has built up a good stream of passive income

2. We have all topped up our RA to the ERS amount when we turned 55, not using our CPF money but using cash.

3. One of the main reasons why we are still working is because we want to see all our children complete schooling first. For some of us, it may mean that they would have to work till 65 as their younger children are still in lower secondary.

4. We have not changed our lifestyle over the years. I dont observe any extravagant expenses such buying a merc/ BMW to reward ourselves like some people do when they hit 55 yo.

5. All of us have no more housing loans for our primary residence.

6. All of us have some form of passive incomes of varying amounts. Highest in the group was $160k pa (the retiree)

7. All have substantial savings in their SRS accounts (exceeding $200k)

Originally Posted by Unregistered

read his writing style and punctuation habits. fkn obvious he's a siao lang

Thanks for sharing
We are also preparing for retirement
We will retire at 60
We are not leaving behind a big fortune for our children but we have educated them well
We want them to work hard on their own merit
With the education we have given them, they can excel in life

Originally Posted by Unregistered

Dont waste bandwidth on that poster. He has been repeating the same post ad nauseum.

What I wanted to share today is a little observation I had of my cohort of friends. We are all passed 55 with the oldest at 59. There are 6 of us, and all but one are still working.

Observations:
1. None of us has withdrawn any money from our CPF since we turned 55. Obviously, still earning an income means we dont need to touch our CPF savings. The retired guy has built up a good stream of passive income

2. We have all topped up our RA to the ERS amount when we turned 55, not using our CPF money but using cash.

3. One of the main reasons why we are still working is because we want to see all our children complete schooling first. For some of us, it may mean that they would have to work till 65 as their younger children are still in lower secondary.

4. We have not changed our lifestyle over the years. I dont observe any extravagant expenses such buying a merc/ BMW to reward ourselves like some people do when they hit 55 yo.

5. All of us have no more housing loans for our primary residence.

6. All of us have some form of passive incomes of varying amounts. Highest in the group was $160k pa (the retiree)

7. All have substantial savings in their SRS accounts (exceeding $200k)

Originally Posted by Unregistered

Dont waste bandwidth on that poster. He has been repeating the same post ad nauseum.

What I wanted to share today is a little observation I had of my cohort of friends. We are all passed 55 with the oldest at 59. There are 6 of us, and all but one are still working.

Observations:
1. None of us has withdrawn any money from our CPF since we turned 55. Obviously, still earning an income means we dont need to touch our CPF savings. The retired guy has built up a good stream of passive income

2. We have all topped up our RA to the ERS amount when we turned 55, not using our CPF money but using cash.

3. One of the main reasons why we are still working is because we want to see all our children complete schooling first. For some of us, it may mean that they would have to work till 65 as their younger children are still in lower secondary.

4. We have not changed our lifestyle over the years. I dont observe any extravagant expenses such buying a merc/ BMW to reward ourselves like some people do when they hit 55 yo.

5. All of us have no more housing loans for our primary residence.

6. All of us have some form of passive incomes of varying amounts. Highest in the group was $160k pa (the retiree)

7. All have substantial savings in their SRS accounts (exceeding $200k)

Interesting sharing. Just wondering if the 6 of you ever discuss what is the amount of passive income per annum that you guys aim to achieve before stopping work. You have one with S$160k that has called it quits. Are the rest of you aiming for similar amount or higher amount? Also any net worth target discussed among you guys?

Originally Posted by Unregistered

Interesting sharing. Just wondering if the 6 of you ever discuss what is the amount of passive income per annum that you guys aim to achieve before stopping work. You have one with S$160k that has called it quits. Are the rest of you aiming for similar amount or higher amount? Also any net worth target discussed among you guys?

My spouse and I will call it quits once we can generate a total passive income that covers our retirement expenditure.

If we spend $4k pm, our passive income should be $5k pm or $60k pa for us to retire.

$4k pm is enough for a retired couple assuming they are debt free and living in their mortgage free home.

Originally Posted by Unregistered

My spouse and I will call it quits once we can generate a total passive income that covers our retirement expenditure.

If we spend $4k pm, our passive income should be $5k pm or $60k pa for us to retire.

$4k pm is enough for a retired couple assuming they are debt free and living in their mortgage free home.

Fair enough. Assuming your debt free portfolio of assets will generate 3% a year (a very conservative portfolio since you should not be taking on riskier assets when retired), then you will need $2m of assets.

If that is the case, then a lot of people could retire earlier but they did not. Is their retirement expenditure much higher than $4k per month or Singapore has become so expensive that they would rather err on the side of prudence?

Originally Posted by tanghao

Gf still in nie training to be music teacher, receving mininal allowance.
Current combined still qualify to buy bto as bonus are not factored in, but coming next year, gf is graduating to be fully qualified teacher with base 32k.

Should i buy BTO flat now with gf or buy private in 3 yrs while living with parents? Expected to reach vp in 3 year - base around 220k according to seniors
Age is 30. Gf 26. Looking to start family soon.
Senior, pls advise

always buy BTO if eligible, no brainer. all my colleagues buy even some living in their rich parents' bunglow/landed.

HDB is one of the few 'gift' from garmen to make some profit off resale market. don't waste, no second chance. later your pay rise then even want to buy also cannot

got a question want to hear suggestions from those with experience.

I am currently in banking, approaching 40 years old. average performer, title is VP but just another ordinary clerk in a cubicle. been moving from job to job every 2-5 years, got laid off before also in bad year. latest job hours are long and kinda inconvenient (working on multiple markets). current anual package around 200k

Now got an opportunity to switch to an iron rice bowl (you know, garmen job). suppose to be very stable, but will incur like 15% pay-cut. The pay will still be comfortable and I can enjoy more time with my young kids. Now dilemma whether take or not. Exit options will be close to zero if join public sector, but shall be no problem work till 60 or even beyond.

suggestions?