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

[iPod Jack]

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.

Yes, $400k saved in that 20 years is my min cost calculation... if that $400k saved was being invested, compounded for 20 years at modest 5% yearly, shld be able to reach ur no in 2 decades

 

[lifeafter41]

Jist drive if you can afford.
Can’t take the monies with you when you’re dead.

 

[LoaGong12]

Stupid question. It's not even close. Who wants to work an additional 15 years just to drive.

Must give chance like working a few more years etc

hmm but realistic leh
many ppl - dinks, single professionals can choose to retire much earlier if they choose simpler life

 

[iPod Jack]

Median income cannot afford car.

Seen collicks earning lesser at $3-4k driving... b4 coe hits $100k... even then, still drove used korean car just for face

buay tahan seeing them go out office say wanna park car (actually to siam TP as they parked illegally to save cost) ... go jb to pump fuel 10 ... then everyday eat $3 caipng no fish

Yes, really got such pple

 

[LoaGong12]

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.

eh? 50th percentile leh. half the population will earn above that , just as 50 percent would earn below

 

[fatscaryuncle]

Stay in a estate with enough markets and hawker within walk and cycle distance and ditch the car.

Places like bukit batok, teck whye and bukit panjang is doable without much hassle.

I notice with a car, you will go out of your way purposely go far away places or visit a few places in one meal run dunno to justify owning a car or what. Like eat at hawker a, then go supermarket at b then go coffeeshop c just to tapao kopi home

 

[moonlighter_sg]

I will retire at 50, be a grab driver and drive casually. Save the 400k to go other countries.

 

[anchoraz]

U can go jb drive. Rental is low. Mayb 45-50 u go out with ur old frend for coffee. Still gd.

 

[MoeLanYong]

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

TS ah TS
Which median salaried man buyed new car $200k de.

Heard of the term resale or pre loved?

Go back revise your work and submit again.

 

[ZesiMuerte]

I made a calculation long time ago.

My low ses arse will probably only retire at 70 if I own a car.

If just take taxi only, can retire before 50. Agak agak.

But different la, I low ses so living low ses-ly.