Few Singaporeans dream of retiring young: survey
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nice wordOriginally posted by Medicated Oil:Most of the peasants are programmed to study, work, breed, retire and die.
Dun think they are able to accept a early retired life of sitting around.
We are programmed to work, work and work so that we can stock up reserves.
But, we dun know what to do with the reserves.
That is why our great poodles have decided that they should be paid with the reserves themselves shamelessly in a very leegalised way.
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Well said! To be able to continue to use reserve they wanna make sure we work till we are old and better still work till we die. Without this, they are not able to get pay rise 2 times in less than a year. They are bunch of sinful greedy sickos having insatiable appetite for $$$.Originally posted by Medicated Oil:Most of the peasants are programmed to study, work, breed, retire and die.
Dun think they are able to accept a early retired life of sitting around.
We are programmed to work, work and work so that we can stock up reserves.
But, we dun know what to do with the reserves.
That is why our great poodles have decided that they should be paid with the reserves themselves shamelessly in a very leegalised way. -
the $24K debt to you dad not lau peh's money huh?Originally posted by eagle:I wonder how much savings you actually have
my lao peh only help to manage money by putting them in fixed deposit by combining every family member's savings, last year was about 2.89% interest, the following year will drop to 2.5%...
what I am curious is that. the cost of fund from your dad CPF is 2.5% and if you have $50K saving, why dont you put the money back into his CPF account?
Btw, which term deposit is offering 2.89%? -
Attachment : $800 x 8 = S$6400Originally posted by eagle:24
hmmm, did attachment before for 800/mth for 8 mths, got a 3 yrs scholarship with allowance, taught tuition for a few years during and after army lor.... about there lor... I spent a lot already; the savings was the remaining
ya I forgot about inflation, given the way our government handle things now...
However, I still have a 24k debt to my dad's CPF for my uni sch fees, which I think I might pay slowly off instead of paying it immediately...
50,000 - 6400 = $43,600
Assuming you teach for 3 years, you need to make $1200 per month from part time tuition to have $43.6K
Are you sure you dont spend a single cent you make? transportation? Food? Shopping? Girl Friend (if any)? Gym membership? -
You excluded army savings, and some small amount of parents allowance because I'm still a student. And my savings were since 12 years old. And I don't spend on any branded things at all because I don't see the need to. Even for my handphone, I will go for a $0 phone during upgrading. Thus I have sufficient funds for food and recreation.Originally posted by Gazelle:Attachment : $800 x 8 = S$6400
50,000 - 6400 = $43,600
Assuming you teach for 3 years, you need to make $1200 per month from part time tuition to have $43.6K
Are you sure you dont spend a single cent you make? transportation? Food? Shopping? Girl Friend (if any)? Gym membership?
Let me break down for you, someone with that little knowledge
Scholarship with allowance minus NUS school fees still got 13k
attachment $6400
tuition i taught for 4 years, average of 600 a month. June and December not included.
All these money were not touched, what I spent now includes other sources. Do you seriously think I spent a lot in Germany when I have other sources from NUS, Deutsche Akademische Ausland Dienst (DAAD, Germany's MOE for those who don't know), and Technical University of Darmstadt (TUD)?
The above money were not touched, so total = $43,400
Remember, this excludes savings from the army, and any savings I had since young. When one spend as little on unimportant things like me, you will save a lot from the army.
It also excludes the amount of near 2k I got from fixed deposit so far.
So enough about me, care to share about yourself? -
The term deposit, if you are really interested, I could ask my dad. I heard that you need at least 50k deposit to get that amount... So my dad combined all the savings from every family member to deposit.Originally posted by Gazelle:the $24K debt to you dad not lau peh's money huh?
what I am curious is that. the cost of fund from your dad CPF is 2.5% and if you have $50K saving, why dont you put the money back into his CPF account?
Btw, which term deposit is offering 2.89%?
Now that you mention CPF is 2.5%, seems like it is a better idea to pay off the uni sch fees by instalments... if we can get a interest rate of > 2.5%...
But then, inflation going to devalue SG money... Hmmm..... -
You mentioned that during your attachment, you saved $6400. Can I know who is paying for all your expenses? food, lodging transportation etc?Originally posted by eagle:You excluded army savings, and some small amount of parents allowance because I'm still a student. And my savings were since 12 years old. And I don't spend on any branded things at all because I don't see the need to. Even for my handphone, I will go for a $0 phone during upgrading. Thus I have sufficient funds for food and recreation.
Let me break down for you, someone with that little knowledge
Scholarship with allowance minus NUS school fees still got 13k
attachment $6400
tuition i taught for 4 years, average of 600 a month. June and December not included.
All these money were not touched, what I spent now includes other sources. Do you seriously think I spent a lot in Germany when I have other sources from NUS, Deutsche Akademische Ausland Dienst (DAAD, Germany's MOE for those who don't know), and Technical University of Darmstadt (TUD)?
The above money were not touched, so total = $43,400
Remember, this excludes savings from the army, and any savings I had since young. When one spend as little on unimportant things like me, you will save a lot from the army.
It also excludes the amount of near 2k I got from fixed deposit so far.
So enough about me, care to share about yourself?
During your tuition days, you claim that you save $600 x 10 x 4 = $24,000.
Can I know who is paying for your expenses?
You also claim that there are alot of money you dont touch, but what puzzle me is, what exactly to you live on to survive? Do eat air for breakfast lunch and dinner? And are you also living on your gf since you dont talk about expenses for dating? -
I ask you to share about yourself you don't want share, why should I share my other ways...Originally posted by Gazelle:You mentioned that during your attachment, you saved $6400. Can I know who is paying for all your expenses? food, lodging transportation etc?
During your tuition days, you claim that you save $600 x 10 x 4 = $24,000.
Can I know who is paying for your expenses?
You also claim that there are alot of money you dont touch, but what puzzle me is, what exactly to you live on to survive? Do eat air for breakfast lunch and dinner? And are you also living on your gf since you dont talk about expenses for dating?
How much do you think one can save in the army? Factor that into your calculations. How much do you think one will spend when in the army? Factor that into your calculations too.
One other source: I'm getting $250 for doing my final year project every month.
For you at your age, you have work that is so free that you can post at sgforums for the whole day? Hmmm, there's no need to attack on a student you know? Any more questions and that would be invading a lot into privacy. If you want any more details, you can pm me or simply just meet me outside.
And how much expenses do you think is required for dating? You think still honeymoon period meh? Or you don't have any experience in this area, so you don't know how to control how much you spend?
The thing now is, do you have the guts to compare with a student (not yet in the working world) who has worked hard for all he has now? Are you man enough to? -
its not about retiring early... rather what you planned to do after that..
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seriously, I have actually many hobbies that I can doOriginally posted by binZ:its not about retiring early... rather what you planned to do after that.. 
As for my dad, his retirement plan is to drive a taxi -.-
My gf's dad, his retirement plan is to open a store selling chicken rice... No idea why....
But in Germany, I see retired people doing charity work instead...., although there are people in Singapore who do that too -
eagle,Originally posted by eagle:I ask you to share about yourself you don't want share, why should I share my other ways...
How much do you think one can save in the army? Factor that into your calculations. How much do you think one will spend when in the army? Factor that into your calculations too.
One other source: I'm getting $250 for doing my final year project every month.
For you at your age, you have work that is so free that you can post at sgforums for the whole day? Hmmm, there's no need to attack on a student you know? Any more questions and that would be invading a lot into privacy. If you want any more details, you can pm me or simply just meet me outside.
And how much expenses do you think is required for dating? You think still honeymoon period meh? Or you don't have any experience in this area, so you don't know how to control how much you spend?
The thing now is, do you have the guts to compare with a student (not yet in the working world) who has worked hard for all he has now? Are you man enough to?
simply maths will be able to tell me that without your lau peh's $upport, there is no way you could save $50,000 as a student.
And suppose you come from a low income family, common sense will tell me that you have to be one very selfish child to keep $50,000 away from your family. -
in the past, when air travel is still not so accessible, people would look forward to traveling the world when they retire. Now that Singaporeans are so well travelled, I really sure there will be lesser thing to look forward to when they retired.Originally posted by binZ:its not about retiring early... rather what you planned to do after that.. -
show your simple maths then. You just can't accept the fact that you cannot compete in the real life, as I have pointed out in another thread?Originally posted by Gazelle:eagle,
simply maths will be able to tell me that without your lau peh's $upport, there is no way you could save $50,000 as a student.
And suppose you come from a low income family, common sense will tell me that you have to be one very selfish child to keep $50,000 away from your family.
So do you, since you were a child, not receive any pocket allowance from your parents at all? The difference between me and some of my friends is, I don't spend money till I have none... My friends, they spend till they have none in the bank every month -.-
Anyway, factor in a conservative estimate of 10k savings from the army. Remember, my NSF term was 2yrs 4 mths with the increased allowance structure, not the measly $240 per month for recruits in your time.
Hmmm, factor in an estimate of about $400 a month, transport and everything else you mentioned, in your calculations. This is already spending a lot per month for me.
And hor, don't need to be so stupid to include lodging de. Don't tell me you support the PAP so staunchly and do not stay with your parents. That would be very unfilial of you.
If you like, you can factor in an additional $200 a year from IPPT, or maybe measly average of $100 from ICT a year.
Also can factor in part-time work ($6 per hour type), say a total of $200 from last time till now
Any other factors you want to factor in.
Anyway, I would not consider the 24k debt because I'm planning to pay it with my salary (you can check out starting pay for 1st class honours). I'm talking about savings, not about accounting for that matters. Even if I have borrowed from a bank, it would still be interest free during my years in the uni.
The most important thing is to plan ahead in life. Trust me, I have planned all these since my army days, with many refinements along the way till now.
In addition, don't tell me you don't have any personal savings now... If you have personal savings, that would mean you kept money from your parents too, right? -
"Retirement? What is retirement?"Originally posted by qlqq9:Hello, it is a luxury to retire young in Singapore. Our ministers want us to work till old or may be till we die.
In any dictatorship (this fascist regime notwithstanding), your life is planned for you from the womb to the tomb...
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Don't bother with the hassle. Are you seriously expecting someone who barely finished playschool to comprehend your logic and computations?Originally posted by eagle:You excluded army savings, and some small amount of parents allowance because I'm still a student. And my savings were since 12 years old. And I don't spend on any branded things at all because I don't see the need to. Even for my handphone, I will go for a $0 phone during upgrading. Thus I have sufficient funds for food and recreation.
Let me break down for you, someone with that little knowledge
Scholarship with allowance minus NUS school fees still got 13k
attachment $6400
tuition i taught for 4 years, average of 600 a month. June and December not included.
All these money were not touched, what I spent now includes other sources. Do you seriously think I spent a lot in Germany when I have other sources from NUS, Deutsche Akademische Ausland Dienst (DAAD, Germany's MOE for those who don't know), and Technical University of Darmstadt (TUD)?
The above money were not touched, so total = $43,400
Remember, this excludes savings from the army, and any savings I had since young. When one spend as little on unimportant things like me, you will save a lot from the army.
It also excludes the amount of near 2k I got from fixed deposit so far.
So enough about me, care to share about yourself? -
Originally posted by walesa:Don't bother with the hassle. Are you seriously expecting someone who barely finished playschool to comprehend your logic and computations?
Ok, let him calculate then... They are still many nitty gritty amount I earned, eg I waited till euros was at its strongest before exchanging to sg dollars (euros didn't increase further), etc... All also got earn a bit one...
Sigh, don't spend much also got pple want to complain... I have 1 friend, I heard he saved 20k in the army wor
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Eagle, the problem with me believe you is that, you only talk about income, and every time, there will be more of them. but you have never mentioned anything about expense leh.Originally posted by eagle:show your simple maths then. You just can't accept the fact that you cannot compete in the real life, as I have pointed out in another thread?
So do you, since you were a child, not receive any pocket allowance from your parents at all? The difference between me and some of my friends is, I don't spend money till I have none... My friends, they spend till they have none in the bank every month -.-
Anyway, factor in a conservative estimate of 10k savings from the army. Remember, my NSF term was 2yrs 4 mths with the increased allowance structure, not the measly $240 per month for recruits in your time.
Hmmm, factor in an estimate of about $400 a month, transport and everything else you mentioned, in your calculations. This is already spending a lot per month for me.
And hor, don't need to be so stupid to include lodging de. Don't tell me you support the PAP so staunchly and do not stay with your parents. That would be very unfilial of you.
If you like, you can factor in an additional $200 a year from IPPT, or maybe measly average of $100 from ICT a year.
Also can factor in part-time work ($6 per hour type), say a total of $200 from last time till now
Any other factors you want to factor in.
Anyway, I would not consider the 24k debt because I'm planning to pay it with my salary (you can check out starting pay for 1st class honours). I'm talking about savings, not about accounting for that matters. Even if I have borrowed from a bank, it would still be interest free during my years in the uni.
The most important thing is to plan ahead in life. Trust me, I have planned all these since my army days, with many refinements along the way till now.
a) Transportation
b) Food
c) Mobile Phone Bills
d) Internet Connection
e) Your PC and computer games?
f) Your paris holiday
g) Your notebook and RAM upgrade
i) GF expenses
j) Your pumping iron supplement and gym outing
Plus you did mentioned that you came back from Europe with 2600 euros only leh -
"Hmmm, factor in an estimate of about $400 a month, transport and everything else you mentioned, in your calculations."Originally posted by Gazelle:Eagle, the problem with me believe you is that, you only talk about income, and every time, there will be more of them. but you have never mentioned anything about expense leh.
a) Transportation
b) Food
c) Mobile Phone Bills
d) Internet Connection
e) Your PC and computer games?
f) Your paris holiday
g) Your notebook and RAM upgrade
i) GF expenses
j) Your pumping iron supplement and gym outing
Plus you did mentioned that you came back from Europe with 2600 euros only leh
Sentence omitted ah? -
You really need more research you know?Originally posted by Gazelle:Eagle, the problem with me believe you is that, you only talk about income, and every time, there will be more of them. but you have never mentioned anything about expense leh.
a) Transportation
b) Food
c) Mobile Phone Bills
d) Internet Connection
e) Your PC and computer games?
f) Your paris holiday
g) Your notebook and RAM upgrade
i) GF expenses
j) Your pumping iron supplement and gym outing
Plus you did mentioned that you came back from Europe with 2600 euros only leh
The problem with you is,
1) You do half-research and gleefully claim it is correct
2) You do not read properly, or your comprehension skills are wrong
For point (1)
If you have researched more, you would have found that total expenditure from own pocket in Europe was < 2000 , including air fare, travel, for about 4 months. That was 500 a month, which I had already factored into my 400 per month average. I don't spend any more than 300 usually, so I gave you an estimate of 400 a month.
Regarding my point (2)
for pt a, b, c, g and i of yours, read through my previous post. 400 a month. No need to ask for a detailed breakdown. Just know that food in school is cheaper than food outside.
PC I had bought it with my own savings from the army (can complain my sis here... She get money from dad to buy
) I don't really play any games. As if I have the time to.
And you must have failed your comprehension. I brought back 2600 euros, but who in the right mind will bring all the money for just 4 months? I exchange sg to euros at a rate of 1 euros to 2.035 sgd, i exchanged back at 1 euros to 2.11 sgd.
Come on la, show your simple maths... I gave you so much details and you cannot show? I have also asked you so many questions. Trying to escape as usual again I presume. Very typical of you. -
shows his comprehension and reading skills, doesn't it? I'm sure a psle student can do betterOriginally posted by seow:"Hmmm, factor in an estimate of about $400 a month, transport and everything else you mentioned, in your calculations."
Sentence omitted ah?
By bringing things from other threads and forums, just shows that he has already nothing to say here. -
Originally posted by FireIce:can u ever retire in SG?
I am practicing thick skin kungfu when I have to pick up rubbish to sell (provided bangala don't already pick up already) and dash quickly to eat left overs from kids and young people. Maybe will have to put up a tent to stay at east coast beach.. -
You might even need to pay a nominal fee and apply for a permit to pitch a tent in public when the time comes...Originally posted by mistyblue:
I am practicing thick skin kungfu when I have to pick up rubbish to sell (provided bangala don't already pick up already) and dash quickly to eat left overs from kids and young people. Maybe will have to put up a tent to stay at east coast beach.. -
Eagle.
Income
Attachment = $6400
University = $13,000 (please explain how you could profit from scholarship)
Tuition = $24,000
Army = $10,000
5) ICT, IPPT, = $600 (assuming 2 Ippt, 2 ICT)
6) Part time = $200
Total Income : S$54,200
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Expenses (see below)
Only take into consideration $400 per month over 8 years = $38,400
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Nett : $15,800
Age - Year
17 - 2000 (JC)
18 - 2001 (JC)
19 - 2002 (NS)
20 - 2003 (NS)
21 - 2004 (NS/Uni)
22 - 2005 (Uni)
23 - 2006 (Uni)
24 - 2007 (Uni) -
Originally posted by Gazelle:
IPPT and ICT already calculated wrong
Eagle.
Income
Attachment = $6400
University = $13,000 (please explain how you could profit from scholarship)
Tuition = $24,000
Army = $10,000
5) ICT, IPPT, = $600 (assuming 2 Ippt, 2 ICT)
6) Part time = $200
Total Income : S$54,200
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Expenses (see below)
Only take into consideration $400 per month over 8 years = $38,400
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[b]Nett : $15,800
Age - Year
17 - 2000 (JC)
18 - 2001 (JC)
19 - 2002 (NS)
20 - 2003 (NS)
21 - 2004 (NS/Uni)
22 - 2005 (Uni)
23 - 2006 (Uni)
24 - 2007 (Uni)[/b]
Scholarship, since you will never have the ability to obtain one, don't need to bother to explain to you.
And I didn't know I am already 8 years after army wor.... hmmm....
Firstly, 10k savings from army, most likely more, and right after that 3.5 years of study so far... JC time money and savings are from parents, so totally not included.
In addition, factor in that 24k debt. This is savings, not talking about total amount of assets/cash in accounting.
Try again, start from after army hor.
Add in amount from fixed deposit hor.
Add in amount from FYP hor
Add in amount of 24k hor. That was included in my original calculations in my first post. And as I have explained, it is total savings, not total savings - current debt. -
Simple maths by a simpleton indeedOriginally posted by Gazelle:5) ICT, IPPT, = $600 (assuming 2 Ippt, 2 ICT)
According to your calculations, 2 IPPT = $400
Say the lowest of CPL pay (you should be knowledgeable enough that A level combat personnel will get promoted to at least CPL rank)
1 ICT for 1 week already $140 with the pay structure in my NSF time.
I don't know how you add up to $600 wor