Whats your net worth

Originally Posted by Unregistered

Dont be a fool.

If that scenario happens, then very simple to solve. Sell the HDB flat which by then may be worth $1m and then buy the $70k HDB studio for the elderly. Then invest the $900k in a 6% investment, giving you $54k pa. More than enough to retire. Since the daughter is not filial, make a will that the $900k or so will go to the home for the aged or orphanage, when the couple die.

Or make a deal with daughter - you take care of parents, you will get all the inheritance. Win-win situation.

Like mentioned, if you dont stay (or not invited to stay) together with your daughter doesnt mean she is not fillial.. imagined when you were young with your spouse and kid and your in-laws staying with you.. you have to work and when back home, you wanted so much to be yourself (cos you are at home) but you cant, cos they are there.. it is always all this small habits that you like, for man, may be lying down on sofa without top, relaxing with kids.. but you cant, understand? thats why it is very different to stay next to parents and together with them. you can visit them everyday and everyone is happy.. but is totally different staying together.

That's why sometimes we have to be "seng mok" in life, of cos your daughter will say "oh, we like you to stay with us", but pls be reasonably smart to interpret it, of cos she cant say no, cos you will start to kpkb...

"Or make a deal with daughter - you take care of parents, you will get all the inheritance. Win-win situation" that's a deal like you mentioned. No difference employing maids or nurse to take care of you. do you feel good that way? knowing your daughter taking care of you is because of the $$?

Originally Posted by Unregistered

All this worrying of retirement is totally unnecessary. You can retire easily upon reaching 65. Me and my wife have benefitted from the genius of the government's home ownership and asset enhancement policies. My HDB estate underwent upgrading and now the estate looks wonderful. I am renting out my flat to an FT family at $4k a month and now staying with my daughter. The $4k pm is more than enough, in fact we hardly spend the money as my daughter takes care of our food, medical, etc. I hope our flat's value and rent will remain strong and rising. Our HDB is our retirement asset, our smart system enables us to retire, unlike in the west. I bought my flat at only $100k many years ago and now it is worth $800k. So your HDB flat is your best investment asset. So, don't worry about retirement. Make sure you raise your kids well and they will look after you at old age. Don't stay single, you will die a lonely death when you die. Also don't be a gay, please.

Seriously I think you are putting your daughter in a very difficult situation especially she is married and have kid.. wonder how many times she quarrel with the husband over you... think about it.. it is not smart doing it your way.. you should be responsible for your own retired life and not your daughter as she is struggling to give her family the best..

The fool is the one who let the bad situation develops in the first place.

Let your children when they are married have their space, privacy and autonomy. Dont just think of yourself. Think of their feelings too, especially your children's spouses.

Originally Posted by Unregistered

Dont be a fool.

If that scenario happens, then very simple to solve. Sell the HDB flat which by then may be worth $1m and then buy the $70k HDB studio for the elderly. Then invest the $900k in a 6% investment, giving you $54k pa. More than enough to retire. Since the daughter is not filial, make a will that the $900k or so will go to the home for the aged or orphanage, when the couple die.

Or make a deal with daughter - you take care of parents, you will get all the inheritance. Win-win situation.

Originally Posted by Unregistered

The fool is the one who let the bad situation develops in the first place.

Let your children when they are married have their space, privacy and autonomy. Dont just think of yourself. Think of their feelings too, especially your children's spouses.

True, prevention is better than one day, your daughter have to tell you to leave as they really need more privacy.. and stop shouting about your brilliant plan.. you cant even live in your own house when you retired despite you worked hard to pay the installment... for merely 4k a month (a relatively small amount when you are 65) For doing that is really a very sad case for you, couldnt even support retirement life and need to rent your asset out and squeeze with your daughter (must be thick face enough)... should had work harder when young.

The best retirement strategy is to buy cheap BTO at $300k today and after 25 years, it is fully paid. Wait until you are 65, then sell the flat. By then the flat will be $1m. In 30-40 years time the exchange rate will be S$1=RM4, so your $1m will be RM4m. Sure can retire in Malaysia with RM4m.

Originally Posted by Unregistered

The best retirement strategy is to buy cheap BTO at $300k today and after 25 years, it is fully paid. Wait until you are 65, then sell the flat. By then the flat will be $1m. In 30-40 years time the exchange rate will be S$1=RM4, so your $1m will be RM4m. Sure can retire in Malaysia with RM4m.

You speak as though you are the god.. can control the future price and conversion, even after 25 years..

Originally Posted by Unregistered

All this worrying of retirement is totally unnecessary. You can retire easily upon reaching 65. Me and my wife have benefitted from the genius of the government's home ownership and asset enhancement policies. My HDB estate underwent upgrading and now the estate looks wonderful. I am renting out my flat to an FT family at $4k a month and now staying with my daughter. The $4k pm is more than enough, in fact we hardly spend the money as my daughter takes care of our food, medical, etc. I hope our flat's value and rent will remain strong and rising. Our HDB is our retirement asset, our smart system enables us to retire, unlike in the west. I bought my flat at only $100k many years ago and now it is worth $800k. So your HDB flat is your best investment asset. So, don't worry about retirement. Make sure you raise your kids well and they will look after you at old age. Don't stay single, you will die a lonely death when you die. Also don't be a gay, please.

you sounded more like you are a failure of the plan.. ownership means you get to stay in it..

[Jeff]

Life is tough nowadays and will only get tougher for our kids. You just need to look at China - there are 300m youths coming out, competing on par with our Singapore youths. Our kids can speak poor English and poor Chinese. They speak perfect Chinese and good English.

I don't think the young in Singapore really know what they are coming up against when they grow up. And neither do their parents.

Average Singaporean couple, in our late forties. Current combined net worth $2.5m, including our home (a condominium unit near town). We hope to accumulate our wealth till our retirement age of 60. By then, we expect to accumulate a net worth of $3.5m. We will then downgrade to a 3 room HDB flat costing $300k and will use the balance for our retirement. $3m should be sufficient for a couple who lead a simple life, no car, no drinking, no smoking, no parties.

[Jeff]

Originally Posted by Unregistered

Average Singaporean couple, in our late forties. Current combined net worth $2.5m, including our home (a condominium unit near town). We hope to accumulate our wealth till our retirement age of 60. By then, we expect to accumulate a net worth of $3.5m. We will then downgrade to a 3 room HDB flat costing $300k and will use the balance for our retirement. $3m should be sufficient for a couple who lead a simple life, no car, no drinking, no smoking, no parties.

Hi,

With your current net worth of $2.5m, $3.5m will be too little for you, as it only represents a return of 2.62% pa over the next 13 years.

I think you probably mean $3.5m in real terms (2013 dollars). This means you are aiming for $4.8m in 2026 dollars, which should probably be possible for you if you are still working and saving.