How much do you need to retire well in Singapore?

Simple formula. 300X your monthly expenditure. Can retire and live indefinitely

If your house fully paid for and you can live with $1500 a month all in, you only need $450k to retire

If you still got mortgage, want a car, total spend $10k a month, you need $3 million.

Started tracking my net worth at age 40 with $600k.

Based on asset of $2 mil to $2.2 mil mainly in cpf, stocks, and T bills, insurance policies/annuity (exclude fully paid property), plan to generate $8 to $9k per month after 65 for 30 years for me and wife. Not huge sum, but good enough.

Diligently tracked a detailed spreadsheet to know my savings and expenditure, expand to investment and then create plan to tap on various sources of income for retirement based on future expense scenario.


Discovery:
1. CPF compounding interest effect is amazing.
2. Need to understand your spending pattern well to decide on my future lifestyle.
3. It is fun and satisfying to monitor your growth, enjoy the journey
4. Spend within your means
5. Potential to tap on insurance maturity values if need to (although this is not the best investment tool)

I am sure many sensible Singaporeans are doing it.

Finally, can go to Malaysia to further stretch the retirement dollars. Why spend in Singapore where you can get plenty of good food and entertainment.

Originally Posted by Unregistered

Started tracking my net worth at age 40 with $600k.

Based on asset of $2 mil to $2.2 mil mainly in cpf, stocks, and T bills, insurance policies/annuity (exclude fully paid property), plan to generate $8 to $9k per month after 65 for 30 years for me and wife. Not huge sum, but good enough.

Diligently tracked a detailed spreadsheet to know my savings and expenditure, expand to investment and then create plan to tap on various sources of income for retirement based on future expense scenario.


Discovery:
1. CPF compounding interest effect is amazing.
2. Need to understand your spending pattern well to decide on my future lifestyle.
3. It is fun and satisfying to monitor your growth, enjoy the journey
4. Spend within your means
5. Potential to tap on insurance maturity values if need to (although this is not the best investment tool)

I am sure many sensible Singaporeans are doing it.

Finally, can go to Malaysia to further stretch the retirement dollars. Why spend in Singapore where you can get plenty of good food and entertainment.

we are at the similar situation with you. Have about $3mil in stocks, CPF etc... plus a rental property $1.5mil fully paid. we are enjoy this phase of life at age 50. Life has never been better. Cheers.