Can we afford to retire?
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I read an article in straits times last saturday talking about financial planning and retirement. I believe that it would be very hard for some of us to ever retire, what with amounts such as a few million is needed to retire. I feel that owning a property will only drain our resources. my sociology professor once said that you're better off renting a property in singapore than buying one.
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retire can. lead a comfortable life here? NO.
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Ermmm... under what kind of justification?
Renting an apartment is not that cheap either.... -
never retire in singapore unless u have a huge wad of cash
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becuase of the high interest rates... you will realize after paying off your housing loan, you've paid around double the cost of the property. hence you're better off renting.. when you have paid almost double the price of the property, there's not much profit involved when you're selling it anyway.Originally posted by greengoblin:Ermmm... under what kind of justification?
Renting an apartment is not that cheap either....
i think it'd be quite impossible to retire and i dun mean comfortably, cuz when you're old, you have a lot of medical bills. and that's a neccessity and not a comfort. -
retire can lah... but its like chi bu bao er bu si lor... imagine a life whereby u rent a one room flat and everyday eat porridge and you tiao....
to get a picture of that, can go tampines... theres an photographic exhibition on one-rm flat dwellers by a news reporter i think... till Jan...
to retire early really mus plan very early... a few days ago theres an article saying if u want to have one million for retirement at 65, u must save $87X.00++ every month till u hit 65...!!! n u dun even know if you will live long after 65... -
Most of us homeowners will most probably downgrade cos we don't have enough cash for retirement
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so dun u think you'd be better off if you've never had to wrestle with those housing loans and sky high interest rates?Originally posted by gerrykoh:Most of us homeowners will most probably downgrade cos we don't have enough cash for retirement -
mmm .. retire can lah but retire comfortably not possible.
My plan is to sell off everything xcept the house which I will rent out. Then go on social visit to thailand and retire as a tourist or become a PR, every month or so come back to collect rental then go back.
language not v.diff and cultural diversity not very vast, cheap medical, low cost of living even big enuf to own a small plot of land for agriculture or a small apartment for an old man and a short hop back to singapore in case of trouble or emergency.
anybody wat to be my thailand retirement housemate in 30years time pls book in advance hor. -
Originally posted by KumSioJui:mmm .. retire can lah but retire comfortably not possible.
My plan is to sell off everything xcept the house which I will rent out. Then go on social visit to thailand and retire as a tourist or become a PR, every month or so come back to collect rental then go back.
language not v.diff and cultural diversity not very vast, cheap medical, low cost of living even big enuf to own a small plot of land for agriculture or a small apartment for an old man and a short hop back to singapore in case of trouble or emergency.
anybody wat to be my thailand retirement housemate in 30years time pls book in advance hor. 
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watOriginally posted by foxwalk: 
u want
welcome welcome budden must share cost of bills hor
& btw u & yur BF if coming is 2 pax share not 1 pax share hor.
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wahh... you remember??Originally posted by KumSioJui:wat u want
welcome welcome budden must share cost of bills hor
& btw u & yur BF if coming is 2 pax share not 1 pax share hor.
well, not really interested in thailand... maybe mauritius. -
of course I remembered lah... the way u snubbed me huhOriginally posted by foxwalk:wahh... you remember??
well, not really interested in thailand... maybe mauritius. 
mauritius very far leh ... some more quite expensive, if you wt nature why not try christmas island, it's part of australia territory as well as having a small population of malays, chinese, indonesians a bit like singapore but without the rat racing. -
hehe... well i told him and he was like," !!!"Originally posted by KumSioJui:of course I remembered lah... the way u snubbed me huh
mauritius very far leh ... some more quite expensive, if you wt nature why not try christmas island, it's part of australia territory as well as having a small population of malays, chinese, indonesians a bit like singapore but without the rat racing.
how do you know mauritius is expensive??
christmas island experiences invasion of crabs once a year lasting one whole month! -
hahaha wah yur bf so jealous type ah ... haha hmm ...Originally posted by foxwalk:hehe... well i told him and he was like," !!!"
how do you know mauritius is expensive??
christmas island experiences invasion of crabs once a year lasting one whole month! -
First generation's (or post war baby boomers) Singaporeans can still retire as many of them had enjoyed a property appreciation. At least, even if CPF balance may be low, they could downgrade from their property say from a four-room flats to three-room and retire on S$300 pm.Originally posted by foxwalk:I read an article in straits times last saturday talking about financial planning and retirement. I believe that it would be very hard for some of us to ever retire, what with amounts such as a few million is needed to retire. I feel that owning a property will only drain our resources. my sociology professor once said that you're better off renting a property in singapore than buying one.
Younger generations cannot hope to catch another property boom by the look of things and must accumulate enough CPF to do so. How many of them are earning high salaries to save S$200 per month for future retirement?
On the other hand, Utility bill, HDB flat price, double-taxed vehicle and land charges in every government service are sucking up more than S$200 per month.
High government fees and charges (in the name of practising non-welfarism) are actually people's retirement monies but are accumulated to billions by statutory boards and government departments at the rate of S$14 billions over past 15 years from which the government is able to give out S$200 per citizen during election time to continue getting election support.
The correct government policy should be to relax or go slow on any more fee increases. Do not recover all costs but only the consumption category. Do not charge land cost again into HDB flat price and not to double tax on vehicle (import then road usage).
If DPM Lee recognizes the retirement problem as caused by government over-surplus charging policy, and will change the formula on fee charging, all citizens can solve the retirement problem at 55 or 62 without MM Lee having to think of extending retirement age without assurance of jobs. This will then be the EM3 or non-scholar solution to governance problem in Singapore. No need to have scholars and then have to pay higher and higher costs to accumulate surpluses only to make government's job easier.
But it is also sad to note that many Singaporeans are already sharing the same propanganda languages used by government pointing out often in this forum that other countries like Philippines or Africans are worse off or democracy is not for Singapore. They do not realize that they actually have been subtly brain-washed.
Many forumers are happy with the present high cost policies as stated above and want the government to continue doing the job in the same way. Look at their postings. I am saddened. Quite impossible to expect government to change anything due to successful newspaper's non-publishing of true picture or problems and continuing brain washing.