How you guys prepare for retirement?

[sunsetbay]

think i may have to retire early but will continue my gig works if i leave my full time job~ existing saving & investment can cover my expenses till age 65~

 

[Lchlch]

my thoughts:-

1. hedge against cpf life with $100K in Bitcoin, 10 years time horizons .
expect 2x return. if hit 5x before 10 years period, cash out all.

instead of topping up RA account with 100K to reach ERS, above approach is way more effective.

prerequisites:- $100k is forgotten spare cash .



Read HWZ Forum Rules!

That is unless you still working and can wait for 10 year n earn good profits.

 

[popdod]

Even I felt the heat

previously we saved up sufficient amount that buying a big Japanese SUV is considered an easy expense item for us

now, with higher COE and car prices, we also find that it hits the retirement savings hard

if you have 8 million lottery feeling the heat.

means

we are dying soon.

 

[cosmothecat]

if you have 8 million lottery feeling the heat.

means

we are dying soon.

Hot hot hot

 

[addict951]

think i may have to retire early but will continue my gig works if i leave my full time job~ existing saving & investment can cover my expenses till age 65~

Wait you live till 129 how gua?

 

[Richard Hurts]

nows a day everything so expensive how to retire?
next time die already have to ownself push own coffin in before bbq
sigh

 

[cosmothecat]

nows a day everything so expensive how to retire?
next time die already have to ownself push own coffin in before bbq
sigh

That one don’t need lah

I can sponsor some money from the huge amount of taxes that I pay, the state will help you

 

[sunsetbay]

Wait you live till 129 how gua?

CPFLife takes over at age 65 mah~ already hit ERS amount, if i opt for ERS, i can get $3.3K monthly till death~

 

[hwarzoner]

to prepare for retirement i currently staying single and continue to work, invest and save, staying single can save some money as i not really high income earner as compare to my peers. took 23 years to have about 2.1 million in cash n cpf now at 50 yo. i have no own house, no car, no gf. only one rolex watch. keke

 

[fortunecat]

 

[popdod]

nows a day everything so expensive how to retire?
next time die already have to ownself push own coffin in before bbq
sigh

the eye deer is to semi-retirement first.
or work a jog without much stress.

since

stress is the main contributor to all major illness.

 

[1982-1994]

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

I need to work for another 4 years so that my SA can have a safety net to hit FRS even without working
If I died, at least my entire CPF would get bequested to my mum and wife

If I get jobless I need to stay with my PIL so that I can rent out the current flat in order to survive ,that's the last thing on my mind

 

[airman88]

How to earn?
Yearly dividend pay out?

Dividend payout every quarterly

 

[hhab6ch]

CPFLife takes over at age 65 mah~ already hit ERS amount, if i opt for ERS, i can get $3.3K monthly till death~

Is the 3.3k figure taken from a CPF press release.....?

That is for a person reaching 55 in year 2025, when ERS will be 426k. Fixed payout.

With 2% annual inflation, at age 65, the payout is actually equivalent to 2.7k today. At age 90, it is equivalent to 1.65k today.

The escalation payout plan is more realistic, giving a payout that is about 2.15-2.20k today.

I have recorded 9 years of retirement expenses so far. 2% annual inflation is not a fake figure that a retired person can ignore, otherwise, the life will be more and more miserable when the person grows older and older.

In short, ERS does NOT give 3.3k of monthly payout. It gives 2/3 of that.

 

[Sanguoshitaisen]

$650k cash?

Cpf lah lol

 

[sunsetbay]

Is the 3.3k figure taken from a CPF press release.....?

That is for a person reaching 55 in year 2025, when ERS will be 426k. Fixed payout.

With 2% annual inflation, at age 65, the payout is actually equivalent to 2.7k today. At age 90, it is equivalent to 1.65k today.

The escalation payout plan is more realistic, giving a payout that is about 2.15-2.20k today.

I have recorded 9 years of retirement expenses so far. 2% annual inflation is not a fake figure that a retired person can ignore, otherwise, the life will be more and more miserable when the person grows older and older.

In short, ERS does NOT give 3.3k of monthly payout. It gives 2/3 of that.

its from CPF web~ FRS can give $1.6k, ERS is double of FRS, so $3.3k is reasonable~

https://www.cpf.gov.sg/service/arti...to-the-raised-enhanced-retirement-sum-in-2025

when you live passed 65 to 70, money will not be your main priority, you will eat lesser, travel lesser, spend lesser~ speak to those old folks, they biggest wish is to stay healthy, that's all~ give them 1 mil will not change their life~

 

[hhab6ch]

its from CPF web~ FRS can give $1.6k, ERS is double of FRS, so $3.3k is reasonable~

https://www.cpf.gov.sg/service/arti...to-the-raised-enhanced-retirement-sum-in-2025

when you live passed 65 to 70, money will not be your main priority, you will eat lesser, travel lesser, spend lesser~ speak to those old folks, they biggest wish is to stay healthy, that's all~ give them 1 mil will not change their life~

My parent, the past 10 years, from age 70+ to 80+, expenses only increased. In fact, the increases are faster, because most expenses are now concentrating on areas with much higher inflation (medical, transport, care).

Eat less, yes. Travel less, yes, because basically immobile, how to travel....? But will spend even more. Because all these now rely on others, who will charge the original cost, plus their service fee.

 

[fire]

Later I'm going to their private hospital, if possible I update est. cost

Private hospital in city: back muscle pain - injection + medication + outpatient charges = SG$80. Whole process took less than an hour. Expensive?

 

[Dopod007]

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

Actual age and biological age are two different things. You can control your biological age by proper and healthy diet, plenty of exercise and healthy lifestyles. If you take care of yourself properly, your biological age can be twenty years younger than your real age.

 

[Encouragesome1]

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

Just do normal life ?
Keep healthy
Save $
G say humans can live till 8x
I gauge might be true cos my a kong post war also can 7x
My pa now also this age
So likely I ll 7x
Need $ cos bbfa

The saying is don’t believe everything i heard
Don’t eat at every opportunity I can
Don’t eat everything I see .. hungry then eat