EDMW Retirement Thread

[pohw0008]

Waiting for my passive to grow another $2k..

 

[iPod Jack]

CPF Board should further distinguish between
1. those that met FRS
vs
2. those that chose BRS with a property pledged.

How many percent and what numbers. Then the data is more meaningful. I have a philosophy in life. Never be the last. Because if you are running last position, the bear will eat you. Hope not to be insensitive, if everyone is getting $1.7k per month, we should try to get more.

Yes 73% hit BRS & FRS

meaning could be a majority getting just BRS of $950/mth, % unknown

theres a reason why gahmen lump brs & frs figures together...

 

[nasfieldjohn]

Cna colin lau retired 30s lor

 

[A Better Tomorrow]

Don't get married. This is the most important rule.
If have to, marry someone who has solid career and good financial sense. Not daft airheads who only know how to talk or believe in tiagongs.

 

[enimen]

People have milestones like finish O level, A level or poly,. For men, we sacrifice our best years and do NS, which is another milestone

Next is university. If not, go and work.

Aim for promotion. If you start as waiter, surely you hope to become restaurant manager one day? That's a milestone.

Get married. That's a mile mountain not a milestone because marrying a Singapore woman is very expensive.

Next is slog 25 years to bring up children. It's a milestone and you heave a sign of relief after slogging.

Now finally, you look at the next milestone. Retirement.

The last ten years of our life, in sickness and pain. Some people wish they could die to end it all. Bedridden or wheelchair bound. Either wear diapers or have urine bag. Some are not aware of their suffering even though they are suffering because... dementia.

The final destination is death.

This post just makes me sad... Journey halfway done

 

[Lchlch]

i love to work as long as possible but with less stress, min stress.
family come first.

 

[cosmothecat]

i love to work as long as possible but with less stress, min stress.
family come first.

Difficult to find such jobs

most jobs in Singapore pay you $1 but expect you do $3 worth of work

 

[MoeLanYong]

Yes 73% hit BRS & FRS

meaning could be a majority getting just BRS of $950/mth, % unknown

theres a reason why gahmen lump brs & frs figures together...

Hmm. I asked Gemini AI to investigate for me

https://www.cpf.gov.sg/employer/infohub/reports-and-statistics/cpf-trends/retirement-sums-and-silver-support#:~:text=Retirement sums and Silver Support. As of,60% Active members who set aside FRS.

In 2023,
Active CPF members who set aside FRS is 49%
So we can assume active members who set aside BRS and pledge property is 73 - 49 = 24%

Almost half of a cohort (49%) has $1,700 a month

 

[buttbERry]

i also dont know leh

 

[cyke69sg]

Bro @MoeLanYong
Can share your retirement experiences here?

 

[cyke69sg]

@diequick bro there is this Retirement thread that is not sponsored.

 

[Multiversal]

This post just makes me sad... Journey halfway done

We all walk down the same road.

People find working a drudgery. They work only because no choice, need the salary. They bear with it and look forward to retirement when they no need to work anymore.

Retirement is like heaven, so we imagine.

Yet when we look at those old folks, both men and women, sit wheelchair, or walk with bent bodies, or sitting at HDB void deck alone, staring at nothing, do we see ourselves there one day?

Retirement become 三等公民。
等吃
等睡
等死

 

[firsttimebuyer]

anyone feel it? as employee, i actually felt poorer as time goes by. income is like sustaining a livelihood here in sg. I know people likes to say invest, invest, invest. honestly, with your left over money, the investment amount is so minimal, that it barely impact your life in any good ways. yes, singles likely feel the impact less. for the "not sandwich gen" as mom jasmine puts it, i need to give old folks money every month, mortgage & kid, etc. the mental fatigue is so real. retirement is unfounded, unless we sell the house & right size, something that is always on my mind.

Actually that is me. I would also like to invest more but I have so many things like caring for parents, caring for wife, household expenses competing for attention, i honestly feel quite stretched.

 

[firsttimebuyer]

Aiming 55, now FRS alr and no debt.. By the time 55. Should have 200k or so in OA. Hopefully this year or next year I can crash buy banks or blue chips. Then I might retire even earlier.

u can retire if passive income exceeds the current FRS/ERS (u choose) payout, and u r confident to sustain it thru the years (test) and cash reserves to last u 2-3 years(u choose) to make a U-turn if cannot. The expenditure is only for self.

Just treat CPF payout as "bonus". or inflation padding. At age 55, take excess (OA, SA closed) to fund ur passive income. ur "job" is to maintain this portfolio payout.

E.g. today, 2016 FRS payout is 1.2k, ERS payout, if available is 2.4k. Can u survive on 2.4k today? If can, then u c next year, can u grow ur payout to 1.35/2.7k. so on and so forth. If cannot, then its moot right, the CPF payout is scholar planned number, they can miss it by alot.

I would like to highlight, may need a large sum (at one shot). When you are on mthly payouts, this is the killer. Large unexpected med bill, or whatever appliance replacement, renov, HDB SERS/VERS, buy niche/"package" etc.

With combination of ur cash savings, and follow by ur cpf payouuts, then including passive income, if any

technically can tong with cash savings alone from 55 till 65, then draw from FRS, if really want to retire

but from then on, have to live within a budget of ard $2k from 55 till 65, then from 65 collect FRS monthly payout of ard $1.7k

but at least a basic safety net is established

I would very much like to increase my passive income but to do that i first must have cash to invest.....

I would also like to depend on CPF but my problem is locked away from me for at least another 14 years and my worry is I don't know what the singapore government 14 years from now would look like, especially when CPF policies can be unilaterally changed at the discretion of the Singapore government. I am not looking at the government of NOW but the government decades down the road.

 

[diequick]

I would very much like to increase my passive income but to do that i first must have cash to invest.....

I would also like to depend on CPF but my problem is locked away from me for at least another 14 years and my worry is I don't know what the singapore government 14 years from now would look like, especially when CPF policies can be unilaterally changed at the discretion of the Singapore government. I am not looking at the government of NOW but the government decades down the road.

Yeah, what most pple didnt realise, u need a big cash injection at the start of ur investing journey, after that it gets easier.

CPF. There are 2 camps or maybe more. dun need to eally care abt CPF changes. i.e. e.g. if u meet FRS in SA alone, lets say this year/next year, why do u worry about their changes? Yes, Investment is locked up for a long time, thats why it can compound. Its too late to inject cash near the end. One time tops at different age Search for "One-Time Top-ups".

Kenna squeezed, ya, sandwich gen at 41? What i did, budget. 2 type of expenses, "die die must pay", "manageable". "Die die must pay" will be ur utilities, mobile, transport, broadband, insurance, parents', mortgage, insurance, groceries, clothes/grooming, simply put "if nt paid, there will be consequences". Manageable is ur eating out (restaurant), Grab/taxi, vacation (divide by 12), so on and so forth.

Its a budget, nt tracking expenses daily (where gt time?). And u married, so wife must be on board.

For ur parents, depends on how much u r giving. If they are working etc, its a token, if they r nt, its subsistence. Instead of giving all cash, buy for them bulk/frozen groceries. Parents (Merdeka generation), have been thru hard times, they would understand. Of cos, u dont kaki eat fresh. The best meal is still a warm meal together, not whether how much it is. Old pple (in general) tend nt to have the concept of saving, after all FP is a angmo concept in the 70s, oni reached here in the 90s i think. If there is 3 high(s), at least work with them to get rid of BS, BP. BC, i dun think its gd indicator, and hard to get it down. I can get the BS down, off the med, BP is creeping up, BC they took for years leow. That itself will make the QoL much better.

When i see a "no-need"(want), i always try to think like 10k 4% is $400. I do not have 10k to cover it, so i will save $10k to make my $400 b4 buying it. When i save it, i usually dun want it already. Likewise to get ur replacement income today is impossible. u can only cover ur "die die must pay", anything extra is gd. Start small. Enuff dividends to cover one bill, then the next. I got lucky, Eng Kong, EDMI, Saizen REIT, Croesus, GP Hotels, the stocks got delisted, and give me a big capital boost and I managed to roll into another. Nt terrific, mediocre i would say, 4+%. I dont do XIRR, buy/sell date track, but thats gold standard, but just meet my needs, dont care abt capital gains (unless sold). I would have gone for more capital gains stocks if i m younger in 20s, 30s, but too bad.

If gt kids, and >=13, i.e. sec sch. Check out this channel. I intro a friend to get his kids on it. They didnt subscribe, just watched free. 4 years later, he told me his kids didnt need tuition other than language. Sample size of 2, sec 2 / 4. If older, can try too, but hard to apply. Must be a age to put into practice what they learnt.

 

[cyke69sg]

Yeah, what most pple didnt realise, u need a big cash injection at the start of ur investing journey, after that it gets easier.

CPF. There are 2 camps or maybe more. dun need to eally care abt CPF changes. i.e. e.g. if u meet FRS in SA alone, lets say this year/next year, why do u worry about their changes? Yes, Investment is locked up for a long time, thats why it can compound. Its too late to inject cash near the end. One time tops at different age Search for "One-Time Top-ups".

Kenna squeezed, ya, sandwich gen at 41? What i did, budget. 2 type of expenses, "die die must pay", "manageable". "Die die must pay" will be ur utilities, mobile, transport, broadband, insurance, parents', mortgage, insurance, groceries, clothes/grooming, simply put "if nt paid, there will be consequences". Manageable is ur eating out (restaurant), Grab/taxi, vacation (divide by 12), so on and so forth.

Its a budget, nt tracking expenses daily (where gt time?). And u married, so wife must be on board.

For ur parents, depends on how much u r giving. If they are working etc, its a token, if they r nt, its subsistence. Instead of giving all cash, buy for them bulk/frozen groceries. Parents (Merdeka generation), have been thru hard times, they would understand. Of cos, u dont kaki eat fresh. The best meal is still a warm meal together, not whether how much it is. Old pple (in general) tend nt to have the concept of saving, after all FP is a angmo concept in the 70s, oni reached here in the 90s i think. If there is 3 high(s), at least work with them to get rid of BS, BP. BC, i dun think its gd indicator, and hard to get it down. I can get the BS down, off the med, BP is creeping up, BC they took for years leow. That itself will make the QoL much better.

When i see a "no-need"(want), i always try to think like 10k 4% is $400. I do not have 10k to cover it, so i will save $10k to make my $400 b4 buying it. When i save it, i usually dun want it already. Likewise to get ur replacement income today is impossible. u can only cover ur "die die must pay", anything extra is gd. Start small. Enuff dividends to cover one bill, then the next. I got lucky, Eng Kong, EDMI, Saizen REIT, Croesus, GP Hotels, the stocks got delisted, and give me a big capital boost and I managed to roll into another. Nt terrific, mediocre i would say, 4+%. I dont do XIRR, buy/sell date track, but thats gold standard, but just meet my needs, dont care abt capital gains (unless sold). I would have gone for more capital gains stocks if i m younger in 20s, 30s, but too bad.

If gt kids, and >=13, i.e. sec sch. Check out this channel. I intro a friend to get his kids on it. They didnt subscribe, just watched free. 4 years later, he told me his kids didnt need tuition other than language. Sample size of 2, sec 2 / 4. If older, can try too, but hard to apply. Must be a age to put into practice what they learnt.

Are you retired?

 

[nyvrem]

mai think too much la

just yolo !

 

[diequick]

Are you retired?

i dont hold a full time job.

My job now is employer to FDW and taking care of my mum's med appt etc.

 

[itedino]

With combination of ur cash savings, and follow by ur cpf payouuts, then including passive income, if any

technically can tong with cash savings alone from 55 till 65, then draw from FRS, if really want to retire

but from then on, have to live within a budget of ard $2k from 55 till 65, then from 65 collect FRS monthly payout of ard $1.7k

but at least a basic safety net is established

A lot of people jobless. Now thinking next meal how

 

[itedino]

I would very much like to increase my passive income but to do that i first must have cash to invest.....

I would also like to depend on CPF but my problem is locked away from me for at least another 14 years and my worry is I don't know what the singapore government 14 years from now would look like, especially when CPF policies can be unilaterally changed at the discretion of the Singapore government. I am not looking at the government of NOW but the government decades down the road.

How