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Retirement How much money is needed to retire comfortably, and what do you do in retirement




How much do you need to retire well in Singapore?

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  #11 (permalink)  
Old 01-10-2020, 09:27 PM
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Based on info from this article [s://.straitstimes.com/business/need-13m-to-retire-depends-how-you-live[/, you will need $1.3m to $2m to retire in Singapore.
When they mentioned about 3k per person, I dont think the number is right. They are trying to promote something. It is pretty common for insurance agents to tell you that you need 5k pm to retire etc. What a bull crap. What makes you think that your expenses suddenly increase by 2 to 3x after retirement? If you are worried about medical cost. You can buy insurance and it wont cost more than 600 per month.



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  #12 (permalink)  
Old 03-11-2020, 02:02 AM
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An amount of money that would allow me to spend around 30k a month.

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  #13 (permalink)  
Old 12-12-2020, 08:01 AM
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Plan to retire at 65 with a passive income of $5k a month for wife and me
CPF ERS: $2k
CPF FRS: $1.4k
Rental income: $2k
Total: approx $5k

But getting to 65 is a challenge....

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  #14 (permalink)  
Old 01-01-2021, 08:16 PM
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To retire in Singapore, go for civil servant jobs not foreign talent competition and easy jobs just to make bosses happy and feel special. No retrenchment.

Honestly, is there so much things to work on and re-invents in the public jobs, not really as we are already in 50 to 60 years into the Singapore soft and hardware.

The best job in Singapore. Get a civil servant job, leave at 62 at retirement age and invest in property. Best job, no late night calls just make your boss feel special.
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  #15 (permalink)  
Old 16-03-2021, 11:11 PM
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not too much
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  #16 (permalink)  
Old 20-03-2021, 01:44 PM
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instead of thinking of how much you need to retire.

consider finding a work that you don't mind working (preferrably you enjou) and that you can still work even if you are old.

the salary can be low but at least it can

1) cover part/all of your daily expenses
2) keep yourself occupied (also prevent dementia)
3) worry about how much money you need to retire (as the figure will be increasing as we are speaking now due to inflation etc)

the work per say may be difficult to find but one should be mindful and work towards this goal in the long term.


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  #17 (permalink)  
Old 21-03-2021, 08:43 AM
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Quote:
Originally Posted by stanley81ng View Post
instead of thinking of how much you need to retire.

consider finding a work that you don't mind working (preferrably you enjou) and that you can still work even if you are old.

the salary can be low but at least it can

1) cover part/all of your daily expenses
2) keep yourself occupied (also prevent dementia)
3) worry about how much money you need to retire (as the figure will be increasing as we are speaking now due to inflation etc)

the work per say may be difficult to find but one should be mindful and work towards this goal in the long term.
Ideal job will be just 8am to 5.30pm, no work after office hours and on weekends. But looks like many jobs that require degree often needs employees to work even after working hours and weekends
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  #18 (permalink)  
Old 30-05-2021, 04:01 PM
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Quote:
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To retire in Singapore, go for civil servant jobs not foreign talent competition and easy jobs just to make bosses happy and feel special. No retrenchment.

Honestly, is there so much things to work on and re-invents in the public jobs, not really as we are already in 50 to 60 years into the Singapore soft and hardware.

The best job in Singapore. Get a civil servant job, leave at 62 at retirement age and invest in property. Best job, no late night calls just make your boss feel special.
Not true civil service jobs no stress. My relative is one. Work 7 days a week. 15 hours a day. Nasty bosses.
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