How you guys prepare for retirement?

[hachi]

Bro, it is good to hv this thoughts how to retire when hit say 50s or 60s.
Time won't stop.
Age won't stop.
We will grow old one day.
Nothing will stop.
Yes it is easy for youngsters to say this n that...
But when hit mid 50s, 50s, 60s, the thinking of retirement n how much saving I hv can determine whether need to work till 70s or 80s.

Every 10y of our life is different... Just plan and enjoy every process...

 

[charlieangel123]

For lower middle incomes like me. Get cheap or free 2nd bto.
This help to preserve cpf or wealth.
Invest the rest. Into stocks, high interests savings and some bonds.
Once cpf ramp into 5 digits interests... FRS is not too far away.
Don't over estimate how much you need during your retirement years. Like mnay here... 3m/5m.

Money don't matter much for elderly anymore. Don't tell me need 300-500k for medical... Once you need that...actually no more runway...

Remember come here crying... Leave with a smile. Learn to spend more time with you loved ones...

Money don't matter much for elderly anymore. Don't tell me need 300-500k for medical... Once you need that...actually no more runway...

this i agree.

 

[hachi]

Thks bro.
Yes parent work hard to bring children up, the expenses is tough.

Trust me... Time passes fast... Before you know it. They alr teens...

 

[Lchlch]

Every 10y of our life is different... Just plan and enjoy every process...

Agree bro.
Our body n health drop when we age.

 

[enimen]

In the worse case scenario, if u r poor, just need these 3 things to plan for retirement.

Rocking chair
TV
Government support

For 3rd item, enquire about lease buyback scheme and sell a portion of your hdb back and gov feed u for life with cpf life (if meet conditions)

Then u just buy chai png rice and spend your days in front of tv watch until ....

 

[yokine3a]

Is local bank shares doing well bro?
Can share?

Sis.

Doing well, unless big crisis like the last asia financial crisis then will drop, but go up again when economy recovers.

So, got up n down, but long term wise still more stable than other local stocks. But their share prices not cheap now, you need a big sum of capital fund.

 

[hachi]

Money don't matter much for elderly anymore. Don't tell me need 300-500k for medical... Once you need that...actually no more runway...

this i agree.

Seen my BIL late millionaire frd.. He is still working 2 weeks before he pass on.

Stay in private hospital... Nurse keep calling his family members cos he go missing... Coz he ran away and go hawker center eat CKT. He said no more time... Enjoy while it last.

Nice and fun guy.

 

[hachi]

In the worse case scenario, if u r poor, just need these 3 things to plan for retirement.

Rocking chair
TV
Government support

For 3rd item, enquire about lease buyback scheme and sell a portion of your hdb back and gov feed u for life with cpf life (if meet conditions)

Then u just buy chai png rice and spend your days in front of tv watch until ....

Flexi lease.... The 3rd bto... Which also means your financial planning failed..

 

[enimen]

Flexi lease.... The 3rd bto... Which also means your financial planning failed..

Yes. That's why I said for poor ppl. Who don't plan

 

[dereth]

As above.
Your experience in preparing for your retirement.
Not for say , real action.

I retired 6 years ago at 40.

Living now on passive income.

 

[cosmothecat]

2 words:

double income

 

[popdod]

I already can't eat much these days, so not too worried on food. Honestly, 1 packet cai png at old age is a lot already. Fibre from vege, carb from rice, fats from curry sauce, actually ok.

Don't mind walking and hiking, only need to find free shower and water nia.

Don't think I will still be flying by then, priorities changing le. If can is best, but hard... can't retire here anyway. Not being melancholy, but just saying by then... probably just watch TV, and stare out window.

Important is don't be a burden to anybody. Die in peace can le.

thats right.
don’t be a burden to anyone.

even siblings have their financial problems.

everyone is responsible for their own life.

parents had done their part by putting us to education.

the rest depends on ourselves.

 

[EJB]

thats right.
don’t be a burden to anyone.

even siblings have their financial problems.

everyone is responsible for their own life.

parents had done their part by putting us to education.

the rest depends on ourselves.

Hur, I'm the youngest, so I guess my siblings will go before me. My nephew/niece also growing up fast, get married then will unlikely keep in contact with me liao, so it should be quite safe for me to not be a burden.

 

[Kanko San]

How to retire comfortably when the cost of living and inflation is getting higher each day here?

Agreed. With debt too.
Work till death

 

[106gunner]

Thinking of migrating to Thailand for retirement but worry later I end up in Myawaddy

 

[popdod]

Hur, I'm the youngest, so I guess my siblings will go before me. My nephew/niece also growing up fast, get married then will unlikely keep in contact with me liao, so it should be quite safe for me to not be a burden.

youngest doesn’t mean live longer.
my aunties passed away earlier than my grandma.

Later your nephew:niece cum and borrow $$ from you.

 

[popdod]

Thinking of migrating to Thailand for retirement but worry later I end up in Myanmar

migrating?? You think Thai citizen easy to get ?

 

[nyvrem]

Stay sinkieland enjoy cpf ?

 

[106gunner]

migrating?? You think Thai citizen easy to get ?

Paid 5-10 year visa then renew with $$$ again

 

[EJB]

youngest doesn’t mean live longer.
my aunties passed away earlier than my grandma.

Later your nephew:niece cum and borrow $$ from you.

Heng is their lao peh richer than me, that one I not scared. They know I no money one. LOL... they have more than me after my sister left. My sis's all left them one HDB each... they are confirm richer than me. I have nothing.