How you guys prepare for retirement?

[Lchlch]

3 letters.

C …. P…….F

Assuming you hit all the min sum.
Can take out OA to cover the expenses.
But then how long can last?

 

[Dinoboyboy]

I am a single parent.
Tough now.

Tiagong sharing with us your difficulties can help absolve some pain bro..

 

[Lchlch]

2 words. Passive income.

Yeah, no more full income, but rely on passive income. What I'd your passive income n how much you have monthly cash?

 

[106gunner]

I am a single parent.
Tough now.

Understand but life still has to go on

You can let your parent and in-law to take care of your children for the time being if they are still young while you are working

 

[EJB]

One cai png with veggie and curry sauce. From 9am eat until 5pm staring outside house window.

Wait for time to come and pass away quietly without people knowing.

 

[Ye_Rongtian]

No preparation or planning. Just save and save. Right now no debt since HDB is fully paid.

 

[Lchlch]

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...

Stock I don't do , too much risk n I am nearing retirement.
So I try not to get burn if stock crash.

 

[Lchlch]

No preparation or planning. Just save and save. Right now no debt since HDB is fully paid.

Right choice bro.
Must save...

 

[hachi]

One cai png with veggie and curry sauce. From 9am eat until 5pm staring outside house window.

Wait for time to come and pass away quietly without people knowing.

Hahaha don't worry you will be ok? If cannot walk much.... Join me mod PMA and speed the pavement like my good old times..

 

[beano]

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

TBH, never thought about it.. having passive income is definitely one source.

 

[hachi]

Stock I don't do , too much risk n I am nearing retirement.
So I try not to get burn if stock crash.

Just defensive stocks. Like ss, good to negate the inflation, no matter how high the items inside supermarket .. I will be smiling..

 

[EJB]

Hahaha don't worry you will be ok? If cannot walk much.... Join me mod PMA and speed the pavement like my good old times..

Hahah not worried la. Got back up plan, when old liao not much mood to do anything, wait for time to pass is normal de.

PMA can do delivery I also don't mind. as long as can keep active.

 

[yokine3a]

You need some savings to act as your capital fund, easiest way is keep buying local banks share, then their dividends will let you pay off daily expenses upon retirement.

 

[hachi]

I am a single parent.
Tough now.

Oh... May the force be with you... Remember kids will grow up... Once they reach a certain age... You will be fine.

 

[Lchlch]

TBH, never thought about it.. having passive income is definitely one source.

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.

 

[hachi]

Hahah not worried la. Got back up plan, when old liao not much mood to do anything, wait for time to pass is normal de.

PMA can do delivery I also don't mind. as long as can keep active.

I also... Too many hobbies... Morning go for walk then go hot spring... Then breakfast.. Look for off peak air tickets... Then fly off..

If too old... I guess just roam around with PMA wait for time..

 

[Lchlch]

You need some savings to act as your capital fund, easiest way is keep buying local banks share, then their dividends will let you pay off daily expenses upon retirement.

Is local bank shares doing well bro?
Can share?

 

[Lchlch]

I also... Too many hobbies... Morning go for walk then go hot spring... Then breakfast.. Look for off peak air tickets... Then fly off..

If too old... I guess just roam around with PMA wait for time..

Good to see the world.
But still must save when we grow old.

 

[Lchlch]

Oh... May the force be with you... Remember kids will grow up... Once they reach a certain age... You will be fine.

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

 

[EJB]

I also... Too many hobbies... Morning go for walk then go hot spring... Then breakfast.. Look for off peak air tickets... Then fly off..

If too old... I guess just roam around with PMA wait for time..

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.