Thank for replying. There are so many people posting with a few million still not retiring, how could I. My kids still in primary sch. That petty amount will be eaten up by tuition, uni fee. I think still need to slogged for 13 years before retirement.

Wise words!

$1m nowadays dont go very far. At $50k pa expenses, it takes less than 20 years to eat up $1m (with inflation). If you retire at 50, 20 years mean you will only be 70.

Similarly, $50k pa doesnt buy you much. Most families with children still schooling would need at least $60k to $80k pa.

With a car and maid, the expense will go up to $120k pa or more.

Care to share the capital gain / loss that your stocks/funds have made over the years?

How old are you? What's your net worth?

I'm 50 and happily retired. I worked very hard in a highly stressed and high paced environment. Made very good money though. I invested my huge bonuses and made millions from my investments. Now can retire.

My advice to youngsters is to work in a sector which pays very high, even though it's a high stressed environment. But must plan your exit early before you collapse. I manage to exit at the right time. Now a lot more healthier and happier.

May I know which industry you are from? Which industries are considered paying high?

Age: 26

Worked less than 2 years. This coming sep will be 2 years.

Cash: around 26k (started with 4k when I just started working)

Equities: around 5k

Cpf OA: around 14k plus.

h 41 w 41

2 kids

combined

cash 80k
hdb fully paid
comdo 750k (loan 550k left)
stock 0
cpf 200k

Many people here talks about retirement. How much do you really need for retirement? It all depends on your retirement lifestyle. So, what's the typical average Singaporean retired couple's profile and how much do they need? Let's explore.

A typical, average heartlander retired Singaporean couple would be staying in a 4 room HDB flat which they bought cheap, direct from HDB many years ago and would be paid off fully by the time they retire (no more mortgage). They would most likely not own a car (a car is a luxury and not a necessity, especially for a retired couple) and do not employ a maid. They would do their own housework, which is not much for just two persons. They also cook their own meals or buy food from hawker centres.

How much are their expenses (TWO PERSONS ONLY)?

Groceries, hawker food, utilities - $1000 pm
Public transport (discount with PG card) - $100 pm
Medical - $200 pm
Medical insurance premium - $400 pm
Entertainment - $100 pm
Holiday travel (pro rated) - $200 pm
Total - $2000 pm

So, if they can earn a passive income of $2500 pm or $30,000 pa, they can retire before 65. If they don't have this passive income, they will have to retire at 65.

At 65, if they choose the Enhanced CPF Life, they will get $3,600 pm or $43,200 pa.

Cash can start to dump in FD or lump sum rsp soon. Dont accumulate too much cash.

You are around the same situation as i am, i work for 2 years already so my OA is a bit higher than yours. For around 2 years i manage to save around 40k and equities of 2.8k only. I am hoping to earn my 100k before i hit 30 years old.

For the 26k cash you can put it in banking account which gives you higher interest rate.

I have record my experience in my saving journey in my blog, so if you want you can read it. s://jyklmoneyblog.blogspot.sg