Why are you promoting this ??

Isn't the 750 shrinking?

For those retrenched ex-PMETs out there, such as ex-engineers and ex-bankers, do not be sad. You have worked so hard all your lives, now is the time to celebrate life. Open your mind. Your life on this earth is limited. Time to retire. Enjoy your retirement!

Good retirement plan in KL or Penang (retire in luxury) for a retired couple at 55 years old (assuming no dependents)

Passive income at 55
Rent out fully paid HDB flat S$2.5k pm
Stocks dividends S$1k pm
Total S$3.5k pm or RM10.5k pm

KL or Penang cost of living
Rent a 3 bedroom condominium RM2k pm
Car expenses RM500 pm (assume buy car in cash RM50k)
Food, groceries, restaurants and utilities RM2k pm
Medical and entertainment RM1k pm
Misc RM500 pm
Total spending RM6k pm
Savings RM4.5k pm

Passive income at 65
Rent out fully paid HDB flat S$2.5k pm
Stocks dividends S$1k pm
CPF Life (Enhanced Retirement Scheme), couple gets S$3.5k pm
Total income S$7k pm or RM21k pm
Total spending RM8k pm
Savings RM13k pm

This retirement plan allows you to live in a nice condo and drive a nice car. You can go holidays all over the world every year if you want to since you will have lots of savings.

Your key retirement assets are: 1. HDB flat 2. CPF Life 3. Dividend blue chip stocks.

i work as a commercial pilot loh ;P

Just started working again after further post-graduate education.

Age: 28 (expat)
Income: SGD300,000 (finance)
Savings: SGD400,000
Inheritance: over SGD10MM (half of parents' net worth)

Nobody at my office here in Singapore knows that I come from a fairly affluent family at home. Would never discuss/wear anything that would suggest it. Educational background is top-tier, but so is that of many of my colleagues, including the Singaporeans.

Should I live it up and leave my financial future to my parents, or should I continue saving everything and being discreet?

You are rich. Make a difference to the world. There are billions of homeless, hungry, poor people and children. What's your purpose on this earth? Think.

Savings and retirement funds
 

To continue the original topic, the following is my financial profile after starting on the saving/investment path 18 years ago.
Insurance returns (progressively with final one in 2027) 680,000
Apartment (paid up, outstanding mortgage;MC charges; taxes paid by rental) 300,000
Service apartment in NZ (paid up, ditto) 128,000
Philippines Condormitel (small-sized condo-type housing for undergraduates)(paid-up) 20,500
Stocks 140,000
Other alternative investments 588,500
CPF balance(excluding housing loans already subsumed under apartment) 385,000

(Believe in splurging on self with well-deserved regular facial/spa/aesthetic laser & facial firming,and occasional branded bags and watches purchase. Endeavoured to contribute to charity to targeted group(s) too)
I just wanted to make hay while the sun shines to enjoy myself in retirement, not forgetting to live the well deserved good life as well;)

How old are you? What's your personal net worth? Do you have kids?

Savings & Investments
 

Chosen singlehood, 46yo. Yes, partly due to my status,other factors - less risk adverse to unconventional (higher-risk) investments & getting professionals (one remisier cousin, one trustworthy financial consultant), having mindset of working earnings hard & "not working hard for my money", etc. strongly believe also in "giving" in order to "receive" n love to be generous to self & family. Above all, setting retirement target helps.

2nd Generation Bureaucrat
 

You have a good headstart. In answer to your question, (I see that no one has replied), you should practise a mixture of the two options. But don't forget to 'give' - just look at Mark Zackerberd and fellow top entrepreneurs who had made it to the Forbes list.

Jules