[Poll] Drive car for 20 years retire @ age 65 or take bus & retire @ 50 in sg?

[iPod Jack]

when retire at 50, can drive car for 15 years?

If u retire in jb... can drive all the car u want

assuming thats ur que

 

[CanIsayNo]

even better... consider retiring overseas if bbfa

 

[iPod Jack]

Even if you dont buy car, you will not see the 400k.

Its the same as those who smoke away a lambo in 10years. You dont smoke also dont have lambo in 15yrs.

If everyone earn ard the same (as indicated in my first post), i dun see why cannot see the 400k after 20 years

unless of course, u blew it on expensive vacations, lifestyles or wearing a hat too big for the head...

 

[ramlee]

Leetire and die early bah

you jin evil

 

[spyder81]

Assuming u median income, which represents most sinkies

Do u:

1)Spend an avg of $400k to buy and drive car in sg for 20 years($200k for new car+ 10 years of running cost) x 2)

2) save the expected cost of $400k and retire slightly early at age 50++?

note: the $400k is on top of any savings, investments and assets u may have, e.g if u oredi have liquid net worth of $500k, the saved $400k will add to that

Both ways don’t matter much to me as I am retiring overseas.

 

[cosmothecat]

Drive of course

the quality of life improvement with a car is unmatched

 

[Laguna123]

Driving in sg also stressful with jam and all the ebike/PHV anyhow on the road? Rather retired early and go overseas stay for few years then back to sg for old age medical.

 

[Caterpillars]

I did the calculation before. With the money spent on car being diverted to long term investments, the true costs of owning a car in your case will be closer to 700k accounting for investment gain.

 

[buttbERry]

drive car and retire at 50

 

[hachi]

Assuming u median income, which represents most sinkies

Do u:

1)Spend an avg of $400k to buy and drive car in sg for 20 years($200k for new car+ 10 years of running cost) x 2)

2) save the expected cost of $400k and retire slightly early at age 50++?

note: the $400k is on top of any savings, investments and assets u may have, e.g if u oredi have liquid net worth of $500k, the saved $400k will add to that

Save 200k first then invest with 4% then drive cheaply by buying 2nd hand yearly 10k car.
Running cost with depre 14k or so... With 8k offset... Around 6k. Don't sound too expensive...
Why people here like to draw down a fund? Weird... Just keep investing and life gets better and better... And driving become cheap.

 

[hachi]

Drive of course

the quality of life improvement with a car is unmatched

Yes... Many ways to drive cheap... Of course I also like driving....

 

[bugdog]

400k to many who own a car is 1-3 years of salary. The aveage degree grad couple probably can forsake that 1 year of income for a decade of added convenience. Sinkies are rich.

 

[trax06]

Assuming u median income, which represents most sinkies

Do u:

1)Spend an avg of $400k to buy and drive car in sg for 20 years($200k for new car+ 10 years of running cost) x 2)

2) save the expected cost of $400k and retire slightly early at age 50++?

note: the $400k is on top of any savings, investments and assets u may have, e.g if u oredi have liquid net worth of $500k, the saved $400k will add to that

Buy moto also.

 

[Ethan_]

Erm, correct if wrong, think first and foremost median income most people never hit. Its not and never a representation of most people income. Just the middle in the whole range of income people get. Not a representation of number of people. So, need to make the misunderstanding clear before arguing with it. If not everything else after that would be wrong.

 

[standarture]

I did the calculation before. With the money spent on car being diverted to long term investments, the true costs of owning a car in your case will be closer to 700k accounting for investment gain.

But the intangible benefits of owning a car will be far more than than 700k. You will barely touch that 700k at 60+ unless you have health issues or kenna scam.

 

[Caterpillars]

But the intangible benefits of owning a car will be far more than than 700k. You will barely touch that 700k at 60+ unless you have health issues or kenna scam.

To each his own, there is no right or wrong answer. Just stating the true costs only. I have a car as well.

 

[Kum Jit Pow]

If everyone earn ard the same (as indicated in my first post), i dun see why cannot see the 400k after 20 years

unless of course, u blew it on expensive vacations, lifestyles or wearing a hat too big for the head...

Because the money will be spent on something else. Unless you are disciplined enough to put away the money every month.

 

[bIkErS]

Ofcos buy at young.. u got energy to drive to many places n enjoy...

Dont be like my old man at home.. 60s den buy car again (30s got a short period of time have car)

I see him drive i also sian.. parking took forever.. and can get lose in sg.. wan drive go jb for long distance also dont dare..

Basically got car only go drive to coffee shop or meet friend.. what's the point

1 month only pump 1 time ron95 @ $100

 

[sAVaGEmP5]

can take comfort taxi ?

 

[NintendoSwitch]

Assuming u median income, which represents most sinkies

Do u:

1)Spend an avg of $400k to buy and drive car in sg for 20 years($200k for new car+ 10 years of running cost) x 2)

2) save the expected cost of $400k and retire slightly early at age 50++?

note: the $400k is on top of any savings, investments and assets u may have, e.g if u oredi have liquid net worth of $500k, the saved $400k will add to that

Median income cannot afford car.