[kellychang1982]

i have been working for 4 years times.

currently, my monthly salary is 4k.

in order to retire on age 50, so how much should we save ??

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[SYY]

hard to say...cuz u hafta factor in inflation, medical bills in case of emergency n many other misc costs...n summore u wun know how long will u continue living...mayb until 80 or mayb until 90...

[無名]

save as much as possible ..still dont know when the crisis will be over

[leandro]

I would say as much as you can..

Your 4k minus out the necessities and bills and such, try not to give in to temptations of buying new stuffs that you think is cheap/worth it but don't need it.

You won't know what might happen in the future.

[Cissiboy]

4K x month and the perspective of retiring at the young age of 50 seem to me hard to stay in the same sentence..

[booest]

i believe i mentioned this a few times sometime back.

I was on the bus watching mobile TV in the morning and CNA morning session was ON.
Some ang mo consultant was invited to talk about Singapore's economy and the common pple.

The 2 host pop the question out of the blue ..
" So how much should a person save in singapore context to have a proper retirement"

The guru said it is hard to put an exact figure but a off-hand figure was about S$1000 per month. The 2 host had a freeze moment for like a split second. In a LIVE show every moment counts and it was really obvious that the 2 host just frozed because of the figure the guru had mentioned.

For me I was like.... yah right 1k
how many pple take home pay will allow such a savings.
taking CPF and other stuff aside.


taking 1k for 20 years.. you need to have about S$250,000 cash
and a good built up from this amount for 20 years.


easier said then done.

[Avatar_Viper]

u should visit my sig cheers...

[booest]

Originally Posted by Avatar_Viper

u should visit my sig cheers...

you should not be touting..

[khaos83_2000]

Originally Posted by booest

For me I was like.... yah right 1k
how many pple take home pay will allow such a savings.
taking CPF and other stuff aside.

I'm trying to do that and i'm having a little below average pay. 1k per month is possible.

It will work as if im single, living with my parents, skip breakfast, eat lunch at a cheaper place, eat every dinner at home and try not to buy stuff u don't need..

But i'm not single and need to go out pa tor wif my gf. Dinning outside everyday kills my 1k/month plan.

But again, i'm trying to adjust. Go to my gf's place and cook dinner instead of dinning outside. Saves a lot.

Occasional spending on a good dinner or other stuff is included in the plan if i did not blow my budget that month.

[Mobile_Crazy]

ask an financial advisor

[kellychang1982]

KHAOS83

WAH...EVERYDAY eat outside is a heavy burden man..

now me n my bf used to cook at home...
we seldom eat outside...cus very oily and unhealthy..

now we both working, hope to save as much as possible...

[booest]

at times eating outside is easier and not exatly more ex
just need to see what you eat.

home cooked food is of-course better lah
but might cost just as much

[reddevil0728]

CPF Board - Retirement Planning - my CPF 1

[booest]

Originally Posted by reddevil0728

CPF Board - Retirement Planning - my CPF 1

the black hole of Singapore's retirement's money

[|ce]

Wah kaoz .. 4k ... I don't even have 2k lah ...

Take home 3.2k ... Fwah ... I can do lots of things with 3.2k every month ... Woohoo ...

Anyway, crisis or whatever or GST ... seriously hor ... I also not affected leh so I also dunno the hype about this big hoo-haa ...

The things i buy still the same leh ... It didn't really get so expensive like what people say in the news leh ...