YTD 2026 Networth tracking thread

[Mephist0pheLes]

Not only you will need taxi, need to hire helper (live-in or part time) to help out w housechores etc. My estimated monthly budget for age 80 is at 6k per month. if I need to stay at nursing home, will have to rent out my flat n use the extra money on the nursing home as I doubt 6k will be enough.

6k in today value? can do a breakdown of ur 6k per month?

 

[DevilPlate]

I have 80 year old relatives who are active, but the reality is that $1200/mth would be quite challenging.

Part of dignity is the freedom to move around and go places, as opposed to being restricted to your home and the vicinity. My elderly relatives don't drive but they use taxi quite a bit to get around (they don't trust Grab), visit friends, go to polyclinic etc. I don't think they will be able to do that solely on $1.2k CPF life payout.

2X ERS CPFLife shd be OK for a couple.
But if one gone then jialat unless got some insurance

2XFRS have to live like a student/monk

 

[DevilPlate]

Not only you will need taxi, need to hire helper (live-in or part time) to help out w housechores etc. My estimated monthly budget for age 80 is at 6k per month. if I need to stay at nursing home, will have to rent out my flat n use the extra money on the nursing home as I doubt 6k will be enough.

nursing hm got subsidise one for low income…..all in ~1k pm from what i hear.
but hor 30years later could be 2-3k lah

 

[kickass22]

It's interesting to read all these details about 80 yrs old folks.

I guess, it reflects the circle you are in. My circle is so different.

I know a lot of relatives rich and poor who are in their late 70s and 80s and they don't spend much.

Their intake of food is minimal, they don't travel as much, and their overall spending per month is 1 - 2 K per month. They are active in the specific town activities going for exercises etc... They visit other families etc.

They don't go out for holidays or far distance visits etc... as they get tired easily.

etc...etc...etc...

Their main bulk of spending is on groceries for the daily low fat milk, rice etc...etc..

So , So different from the 6K mentioned above.

 

[highsulphur]

It's interesting to read all these details about 80 yrs old folks.

I guess, it reflects the circle you are in. My circle is so different.

I know a lot of relatives rich and poor who are in their late 70s and 80s and they don't spend much.

Their intake of food is minimal, they don't travel as much, and their overall spending per month is 1 - 2 K per month. They are active in the specific town activities going for exercises etc... They visit other families etc.

They don't go out for holidays or far distance visits etc... as they get tired easily.

etc...etc...etc...

Their main bulk of spending is on groceries for the daily low fat milk, rice etc...etc..

So , So different from the 6K mentioned above.

I think one point that is often missed out is mental capacity once one passes 70. Dementia is a real issue. You might have the wealth but if you suffer from dementia with no one trustworthy to manage your financial and physical well being, you are pretty much screwed as well.

 

[kickass22]

I think one point that is often missed out is mental capacity once one passes 70. Dementia is a real issue. You might have the wealth but if you suffer from dementia with no one trustworthy to manage your financial and physical well being, you are pretty much screwed as well.

Totally agree with that. On a bright note, there seem to be some advances in this area and hopefully, with AI the advances become even faster.

 

[highsulphur]

Totally agree with that. On a bright note, there seem to be some advances in this area and hopefully, with AI the advances become even faster.

on the bright side, if one suffers from dementia, he or she knows non the wiser that he or she is being screwed.

So all is well

 

[DevilPlate]

I think one point that is often missed out is mental capacity once one passes 70. Dementia is a real issue. You might have the wealth but if you suffer from dementia with no one trustworthy to manage your financial and physical well being, you are pretty much screwed as well.

Let garmen help u if no immediate family. Trust issue aside.

 

[limster]

on the bright side, if one suffers from dementia, he or she knows non the wiser that he or she is being screwed.

So all is well

https://www.seasons.com/responding-to-accusations-from-older-adult-with-dementia/2602471/
The stereotype of dementia is some sort of blissful ignorance.

However Paranoia is unfortunately a very common symptom to dementia - someone with dementia may think their children are trying to steal all their money.

So for elderly that keep to themselves, don't go out, don't spend money, those could be possible signs of early dementia/paranoia or it could be that they introverted and frugal. Caregivers need to know the difference

 

[starlight318]

nursing hm got subsidise one for low income…..all in ~1k pm from what i hear.
but hor 30years later could be 2-3k lah

Subsidy is very hard to qualify. Most households not eligible if you look at current criteria

 

[starlight318]

6k in today value? can do a breakdown of ur 6k per month?

I'm using my estimated income per month to calculate, when I'm at that age, will have $x from CPF life, $y from drawing down CPF OA/SA and $z drawing down my bank account. So should be future value? With inflation, by then basic expenses like food groceries utilities will probably cost double compared to today. Currently my monthly is about $2.6k so double it will be $$5.4k. make it 6k since will spend more on healthcare.

PS: I'm mid 40's now so we r talking about 35years later

 

[Mephist0pheLes]

It's interesting to read all these details about 80 yrs old folks.

I guess, it reflects the circle you are in. My circle is so different.

I know a lot of relatives rich and poor who are in their late 70s and 80s and they don't spend much.

Their intake of food is minimal, they don't travel as much, and their overall spending per month is 1 - 2 K per month. They are active in the specific town activities going for exercises etc... They visit other families etc.

They don't go out for holidays or far distance visits etc... as they get tired easily.

etc...etc...etc...

Their main bulk of spending is on groceries for the daily low fat milk, rice etc...etc..

So , So different from the 6K mentioned above.

This is much more in line with my relatives in 80s i know.

Makes me wonder if those who think they will still be touring the world, eating fancy food in their 80s even lived with an elderly before or not.

 

[starlight318]

Yes a retiree in his 80's now probably can live on $1-2k a month (I think closer to 2k) but don't think that will be enough in 30-40 years time. Doubled after inflation is not impossible. Think how much is the cost of living in Singapore 30years ago? Add on more if you have to hire maid, take taxi, more frequent doctor visits etc etc.

 

[DevilPlate]

Yes a retiree in his 80's now probably can live on $1-2k a month (I think closer to 2k) but don't think that will be enough in 30-40 years time. Doubled after inflation is not impossible. Think how much is the cost of living in Singapore 30years ago? Add on more if you have to hire maid, take taxi, more frequent doctor visits etc etc.

Our CPFLife be it FRS or ERS also accounted for inflation liao…..just max FRS asap and then top up to max ERS upon 55yo. Basic safety net.

a couple with 2XERS enjoys better economy of scale.

Singles have to save up more or create other passive income liao.

 

[Nofear40]

Our CPFLife be it FRS or ERS also accounted for inflation liao…..just max FRS asap and then top up to max ERS upon 55yo. Basic safety net.

a couple with 2XERS enjoys better economy of scale.

Singles have to save up more or create other passive income liao.

The ERS limit is at the prevailing year when you top up post 55 or the ERS amount at your 55?

 

[d9_lives]

I believe most MM peeps' cpf accounts have already exceeded ERS even before they're 40y.

 

[DevilPlate]

The ERS limit is at the prevailing year when you top up post 55 or the ERS amount at your 55?

Not sure what u mean….when turn 55yo u can check how much u can top up to yr RA to max ERS limit.

 

[limster]

I believe most MM peeps' cpf accounts have already exceeded ERS even before they're 40y.

Most MM peeps should be investing their CPF, not just leaving it to earn 2.5%, so high chance of 1m in CPF by age 55.

 

[DevilPlate]

Most MM peeps should be investing their CPF, not just leaving it to earn 2.5%, so high chance of 1m in CPF by age 55.

My OA always near zero one until i divest 1 investment property whahaha

Last time no 1M65 movement….our concept is to clear OA for housing whahaha

 

[d9_lives]

Most MM peeps should be investing their CPF, not just leaving it to earn 2.5%, so high chance of 1m in CPF by age 55.

Left with 22k, the rest are still in tbill. What about yours?
1M by 50 ba.