Quote:
Originally Posted by snipeshot08
Living in Sinkie is never as simple as that, if so simple than many would have been able to retire comfortably when they reached 55 years old liao and not still have to slough away until 62 or 65
(Note: all data & figures from Google hor, not mine)
Lets say for illustration sake, for the most basic needs we will still need at least S$2K per month in Sinkie, given our average lifespan of 82 years we will need at least S$650K in retirement sum and I have not even considered/included yearly inflation & compounded sum for that 27 years yet  so do many of us Sinkaporeans really have that kind of remaining sum in our Si-Pee-F when we reached that first milestone given our "investment" in housing lah, children education lah....blah blah blah.....????
Thats why I keep saying you kena first prize TOTO of S$600K can retire liao, largi more if it had snowballed 
Cheerios.......SS08 ^_^ |
What you had written above was ideal situation and assuming one live to 82 years old...what happened if you can live only to 60, 70...then you only have such short time to enjoy retirement...what you written above was what the gahmen hope you will do...
I had discussed and observed many old folks who are now 65 to 80 years old...many dun even have savings...so let us work out the sums...
$0 for House - live in own house or children home
$0 for food - home cooked
$0 for utilities - children pay
$40 transport - gahmen pay 1 month and pay 11 months ownself.
Cash per year
claim GST vouchers cash
claim workfare for medisave contribution (some factory used NRIC for foreign worker quota)
claim Pioneer gen
claim silver support
Monthly cash - not all can have
if have hdb 3 room - rental out monthly collect $1800 (assume live with children)
CPF monthy - $500 per month
Fixed deposit inteterst - $100
children gives - x amount per month