Discussion on Retirement For Older Gay + Life @ 50, 68 & Beyond + Retire With No Worries (Compiled)

[Guest Guest]

Why not...You save a bundle in conservancy fees etc. And you still qualified for governmental awards..GST offsets etc.

Can someone comment how HDB living is like? I used to stay in HDB for a few years ago when I was a student (renting the place), and I felt that there were alot of shouting, screaming and scolding amongst some families, cars honning at the carpark, neighbours above you moving furniture sometimes in the middle of the night, singing majulah everyday even if u are on leave and want to sleep late (i stayed near a school), burning joss paper during the ghost month (the whole neighbourhood looked like a scene in hell), neighbours put all their big potted plants along the corridor, etc.

Not complaining, but that was my experience when I stayed in HDB flat to be near the U.

[Guest Elder]

A job is just a job. It is a thing that u do to pay bills on the on-going basis. If u do not like what u r doing, do not invest too much emotion into it. As a matter of fact, most of us do not do what we like. We learn to love our job and adjust ourself. Remember, it is only a tool to pay the bills. Secondly, once u quit from your job, u will definitely get a temporary relieve. Soon, u will face another kind of stress. No body wants to employ u @ 45 years old even u offer them a significant pay-cut. U will be evaluated with someone half yr age and so on. 不要冲动。Go look for another money generating job/buz before u quit. ENDURE!!!! For yr info, all of my friends who quit their job at their 40s did not end up well. They regretted why did they not listen to my advise then.........

This sound like sound advice.

But why is it that many of us in Spore do not like our jobs? What happened to dear old passion?

It's kinda sad to adjust our likeness for the job and not just like the job itself.

I am in my mid 40s and earn a decent income. I am increasingly hating the job (more the people and the bosses caused it is getting more and more competitive nowadays with total disregard for emotions). But you are right to point out that i would probably not find another job with similar pay and perks once i quit.

If I stay, i will be unhappy; if I quit, i will be unemployed for a super long time. Any advice?

[abang]

Can someone comment how HDB living is like?

Honestly that it is quite a stereotyping image of HDB dwellers.

I happened to live in a 3 bedroom corner unit on the 17th floor (highest floor in the block)

and there are only 4 units on this floor.

All are decent neighbours and yes, we exchanged mandarin oranges this Lunar New Year.

None of us put big potted plants along the corridors and yes, our flats are well-maintained.

There are no kids (unless you count that cute uni boy) in all 4 units.

Life in HDB flats aint that bad.

[Phil]

Hi Phil, Singapore's Central Provident Fund is hailed as one of the best compulsory social security saving plans. Both citizen and permanent resident wage earners and their employers contribute percentages of the pay. The contributions earn secure interests and are withdrawn at age 55. Portions are retained by the CPF Board for medical insurance and investing in financial products. The savings are substantial but Singaporeans cough out huge sums of money for homes, cars, surgery and hospitalization. It is a big achievement as well as challenge for a tiny country whose main resource is its educated, healthy and trained masses.

Thanks Marad for this information.

We have a comparable system here, but you can retire at 55 only for a few specific jobs. The minimum legal age is currently 62, and if you want to take benefit of your contributions, better retire at 65.

Btw, I can understand the problem about homes and cars, but not for surgery and hospitalization. You have a compulsory minimum health insurance system ; isn't it possible to complete that with a voluntary additional insurance?

In this case, you do not need to pay much for doctors, medicines and hospital, unless you want to enjoy a posh suite in flashy hospitals in place of a standard room ? Or did I misunderstand everything?

Same thing everywhere for cars and real estate: you can need a luxurious penthouse in the historic part of Paris and drive Porsches or Ferraris; but you can also live in more common flats, and drive "normal" cars...

[lohwpr]

This sound like sound advice. But why is it that many of us in Spore do not like our jobs? What happened to dear old passion? It's kinda sad to adjust our likeness for the job and not just like the job itself. I am in my mid 40s and earn a decent income. I am increasingly hating the job (more the people and the bosses caused it is getting more and more competitive nowadays with total disregard for emotions). But you are right to point out that i would probably not find another job with similar pay and perks once i quit. If I stay, i will be unhappy; if I quit, i will be unemployed for a super long time. Any advice?

My advise? Stay in yr existing job and look out for new opportunities. U r only allow to quit yr existing job when u find a new one. PERIOD.

U may feel u r hating everyday when u hv to go to work. U may feel there is no meaning in life carry in the existing manner. TRUST ME. Yr stress level will exponentially increase once u quit without a job and yr cash flow stop. A total different kind of stress that u can only understand when u r in that state.

Again, Endure. 不要冲动.

[Guest Aunty Lucy]

I'm 28 yrs now, and earning close to $500K per annum (not anus or anal, pls), as a banker.

I intend to retire lavishly at 40yrs, once I've amassed at least $5M in cash with at least 2 properties (one for myself and one for investment/rental). That shud be enuf to cover me till I'm 80 yrs old.

Dun Lie La..

[abang]

U r only allow to quit yr existing job when u find a new one.

Totally 100% agree with you.

Having a less than desirable job is much better than not having one.

For many of us, no income is totally bad news.

Why?

We still need to carry on our basic payments - loans (if any), food, transport and social interaction.

Call me shallow ..

but your self-esteem nosedived the very minute you have zero income.

Initially it looks as if you are FREE to do anything you want but once reality sinks in,

boy, the bills and the boredom can be very unbearable.

I know someone who needs counselling because he lost his well-paid job due to company's restructing in 1990s.

Depression sank in quickly and mind you, I am talking of someone in his mid-30s.

Fortuantely, he managed to pick up the pieces and gave home tuition for the 3 full years before he landed a permanent job.

Getting better qualified is a double-edged sword.

On one hand, one may stand a better chance for higher post.

Conversely, the potential employer thinks we are over-qualified.

So, stay in the job ..to while your time..

We can talk about retirement when we reach 60s and above.

Anyway, Asians look younger and always youthful, right?

[Guest Marad44]

Thanks Marad for this information. We have a comparable system here, but you can retire at 55 only for a few specific jobs. The minimum legal age is currently 62, and if you want to take benefit of your contributions, better retire at 65. Btw, I can understand the problem about homes and cars, but not for surgery and hospitalization. You have a compulsory minimum health insurance system ; isn't it possible to complete that with a voluntary additional insurance? In this case, you do not need to pay much for doctors, medicines and hospital, unless you want to enjoy a posh suite in flashy hospitals in place of a standard room ? Or did I misunderstand everything? Same thing everywhere for cars and real estate: you can need a luxurious penthouse in the historic part of Paris and drive Porsches or Ferraris; but you can also live in more common flats, and drive "normal" cars...

Hi Phil, having been away for 20 years and back 2 years, I should perhaps let the Singaporeans provide you a more enlightened answer on the cost of housing and cars..

From what I know, the retirement age will be raised from 62 to 65 in 2012 and to 68 later. There are 4 insurance schemes for medical expenses - Medisave, Medishield, Medisave-approved Integrated Plans & Medifund. Singapore's largest real estate developer is the Housing Board that builds subsidized high-rise for about 85% of the citizens.

Notes:

1) Paris is 9% cheaper than Singapore, according to http://www.expatistan.com/cost-of-living/comparison/singapore/paris, stats updated 2 days ago.

2) France is 790 times bigger than tiny Singapore of land area 693 sq.km (http://www.mongabay.com/igapo/world_statistics_by_area.htm)

[Guest kpo suggestion]

1. there are 2sides on a coin. There are always concern about income and money issues one has to consider before Putting ourselves into the golden retirement. For discussion, how much is enough? If u rent out the apartment, and have another fully paid apartmemt regardless HBD or private, you are assured to have a shelter over your head. At the sametime the rental incomes will help you to meet end needs. there are also other expenses like insurances and medical like I highlighted earlier. Once the financial issues have been taken care, you can look into self-esteem which can be critical as there are so much you have after you leave the workforce.

2. If you fully retire at the age of 45, assuming your financial expenses are fully covered and you are healthy individual with no chronic diseases (such as diabetes or high-blood pressure) and you live till at the age of 80. what do u plan for all these time? Do you have kaki to play sports? Are u a volunteer of some non-profit org? Do you have an interest group? Are you a collector? Are u a traveller or nestor?

3. do u plan to take the MBA before or after u quite? I would suggest u take your MBA while still working. You will find it difficult to write your assignment and thesis .

[robin]

Call me shallow ..

but your self-esteem nosedived the very minute you have zero income.

I started my retirement planning at the age of 26 because I hated all the polictics at work and I want to enjoy the retirement while I am still young. At that time, my target is to retire at 35. Though overshot, I managed to hit my target at 40. Last year, I attempted to retire. I stop work for 6 months. During the 6 months, Abang was right. A lot of issues came up. Though I am not in financial need, issues like self-esteem, bordom, falling into mild depression are my best friends. I tried to be useful by looking at volunteer work (which was unsuccesful), practise more cooking at home so that my partner will enjoy the dinner and also looking at cutting down the unnecessary expenses (not becoz of real financial reasons, but to create value at home). Outcome is, I was not really happy because my life was not fruitful. It also created more stress for my partner. In the end, I returned back to work.

Now, I am happier being semi-retired.

My advise is, even if you are financially able to retire, do know how you want to spend your time. If not, maybe semi-retirement may be a good balance as it still brings in income and still allow you certain amount of freedom.

[Phil]

Hi Phil, having been away for 20 years and back 2 years, I should perhaps let the Singaporeans provide you a more enlightened answer on the cost of housing and cars..

From what I know, the retirement age will be raised from 62 to 65 in 2012 and to 68 later. There are 4 insurance schemes for medical expenses - Medisave, Medishield, Medisave-approved Integrated Plans & Medifund. Singapore's largest real estate developer is the Housing Board that builds subsidized high-rise for about 85% of the citizens.

Notes:

1) Paris is 9% cheaper than Singapore, according to http://www.expatista...singapore/paris, stats updated 2 days ago.

2) France is 790 times bigger than tiny Singapore of land area 693 sq.km (http://www.mongabay....ics_by_area.htm)

Thanks, Marad.

I thought that real estate was mainly private in Singapore...So, no real competition? This must explain the rising prices.

I'm glad that Paris is cheaper, but maybe this is for real estate only. I have the feeling that restaurants, bars and services are pretty expensive here.

And maybe we are 790 times bigger, but it's quality which counts, not quantity!

[Marineboy]

Best age is as soon as you are ready....the saying youth is wasted on the young and money is wasted on the old....

Thats why the want to enjoy in their youth and no point having the sporkcar when you dont look good next to it

You need to be debt free if possible

Plan ahead...keep you kakis and frens..x colleagues etc or make new ones

Can do a try try....take few months leave or even no pay leave...see if you can hack it.

A roof over your head....good frens...of course savings and some form of income to fight inflation.

No big ticket items unless you are loaded lah.

Its really not expensive to survivie here....its what you wanna do.

Some exercise routine to keep heathy...there's internet...cable for entertainment at home.

Live within your means.

Enjoy while it last....if you need expensive treatment to just stay alive...ditch it.Your time is up. Accept it.

Of course its easier when one has no family baggage as well.

It's a tough decision for most....but not for some

Meanwhile start dreaming and make that dream come true. You choose the heed the advice of mm....its your choice.

Not retired and having others cover your shortfalls is a good deal I neber mention names hor

[gstc82]

Best age to retire? Now!!! If I have at least several million sgd in my bank account.

[abang]

Money is not the only issue when one considers retirement.

It is "what is there to do" that matters.

Many a time, one laments about the glorious past because there is nothing exciting to boast.

Boredom and 'lack of purpose' are two factors why I did not jump into retirement last year.

I did to work because it occupies my mind constantly.

Same thing why they said that mahjong is good for old people.

It keeps the mind clicking.

[lohwpr]

Best age is as soon as you are ready....the saying youth is wasted on the young and money is wasted on the old.... Thats why the want to enjoy in their youth and no point having the sporkcar when you dont look good next to it You need to be debt free if possible Plan ahead...keep you kakis and frens..x colleagues etc or make new ones Can do a try try....take few months leave or even no pay leave...see if you can hack it. A roof over your head....good frens...of course savings and some form of income to fight inflation. No big ticket items unless you are loaded lah. Its really not expensive to survivie here....its what you wanna do. Some exercise routine to keep heathy...there's internet...cable for entertainment at home. Live within your means. Enjoy while it last....if you need expensive treatment to just stay alive...ditch it.Your time is up. Accept it. Of course its easier when one has no family baggage as well. It's a tough decision for most....but not for some Meanwhile start dreaming and make that dream come true. You choose the heed the advice of mm....its your choice. Not retired and having others cover your shortfalls is a good deal I neber mention names hor

One word to descibe this reply : DELUSIONAL

[Guest Guest]

My advise? Stay in yr existing job and look out for new opportunities. U r only allow to quit yr existing job when u find a new one. PERIOD.

U may feel u r hating everyday when u hv to go to work. U may feel there is no meaning in life carry in the existing manner. TRUST ME. Yr stress level will exponentially increase once u quit without a job and yr cash flow stop. A total different kind of stress that u can only understand when u r in that state.

Again, Endure. 不要冲动.

r u kidding me? i dun feel stress if i can wake up anytime of the day and do the things i want to do with no restraint to space and time (when i retire completely from work). maybe becoz u need money to survive, that is why u r stressed if u quit ur job? if u have money in the bank, u can just do watever things u want to do (just like my mum-how i envy her!!! lol)and not be slave to the system....

[Guest Revell]

r u kidding me? i dun feel stress if i can wake up anytime of the day and do the things i want to do with no restraint to space and time (when i retire completely from work). maybe becoz u need money to survive, that is why u r stressed if u quit ur job? if u have money in the bank, u can just do watever things u want to do (just like my mum-how i envy her!!! lol)and not be slave to the system....

I think there is a difference between being retire-ready with loads of back-up such as additional paid-up (private) property (for rental collection to ensure at least $3-5k) on a monthly basis.

It is pointless if one who may just have barely enough to cover the daily needs but worried for rainy days. The margins for comfort must be large enough to heck about creature-worries. Else, that is not being retire-ready.

It's all about having a choice or the necessity.

[lohwpr]

r u kidding me? i dun feel stress if i can wake up anytime of the day and do the things i want to do with no restraint to space and time (when i retire completely from work). maybe becoz u need money to survive, that is why u r stressed if u quit ur job? if u have money in the bank, u can just do watever things u want to do (just like my mum-how i envy her!!! lol)and not be slave to the system....

That's because u hv the cash to support yr lifestyle. For the rest of us, life is not that easy. The need to make money to pay bills and support the family on a monthly basis is a norm.

Plse do not start the msg with "R u kidding me?" as if we do not know we can, as u put it in yr msg, do anything we want and not be slave to the system. U r not the only smart one here. We know that do.

When u put this sentence "maybe becoz u need money to survive, that is why u r stressed if u quit ur job?" in yr msg with a question mark, r u insulting us or u r just plain naive. OFF COURSE LAH, what else can it be!!!!!????

[Marineboy]

One word to descibe this reply : DELUSIONAL

Sorry if it sounded delusional....maybe i m not good at expressing myself clearly but it was somewhat what i went thru. Not one that planned for early retirement but rather led into it.

I said i will try it out and see if it can workout if not i will try to return to the workforce. It was stepping out that i learn more and realise more too.

All i m trying to share is that if you want to do it...plan a bit. work towards it and even try it out....dont wait till you're too old or sickly from the stresses that work can bring.

Or course if you work your sums dont do it if you're uncomfortable.

Most i feel want too much before they decide....so its not possible for them. Hey you enjoy working or easily bored...do yourself a favour...dont take the plunge.

[Guest Butted]

I've insufficent fund ( a facory worker) for retirement but life has taken it toll on me.

Sometime it is difficult just to stay alive.

I've seen beggar who make it through life like billionaires in this same world we live in.

Can i retire ?

[alien]

I dun think there is an age guideline for u to retire. I feel u can retire any age if u are already loaded with lots and lots of money.

Edited February 1, 2012 by alien

[Guest target]

I am planning to retire at age 50, few years down the road now, with the target savings of sgd500k, is it enough for a gay who lead a humble life ?

[Sticky&Sweet]

SGD500k can't support you past 60 what with inflation, cost of medication and all. Must save at least $1m.

[Guest Calculator]

2k per month, a year 24k.

Considering 5% or about 1k increment each year for 10 years ..... The total is 24k+25k+...........32k+33k = 285k.

However, you can use 400k to buy dividend stocks which have stable price and good dividend which pays 5% or more.... StarHub, singpost, capital ..... And so on ......you might get 20k each year and so, likely u will make 200k after 10 yrs. (I exclude the capital gain or loss here)

So after 10yrs, your 500k will be 500k-285k+200k =415k.

On top of that, I presume you should have fully paid your flat or condo or have a rental free shelter.

--> my recommendation is that you should have some sports kakis, doing volunteer works, keep yourself occupy. Please note that medical cost can take away your retirement fund and you should have long term diseases insurance coverage.

All the best to your plan!!!!!

[Guest difficult]

At least must have $500K to live frugal life at age 60 assuming you are going to live until 80yo. Internet subscription, town council fee, monthly grocery, utilities X 12 months X 20 years. If you have CPF, annuity might be factor in, if you have home,monthly rental can be considered side income. Otherwise it seems Singapore can never be a place for retirment, especially when you are sick, you might not want to seek medical help for fear of wiping out your savings.

It is either you retire overseas or you continue to work until you ended. I encourage people to seek the work they enjoy and love to do so that you never want to stop and you feel so proud to go to work.

[Friendly]

At least must have $500K to live frugal life at age 60 assuming you are going to live until 80yo. Internet subscription, town council fee, monthly grocery, utilities X 12 months X 20 years. If you have CPF, annuity might be factor in, if you have home,monthly rental can be considered side income. Otherwise it seems Singapore can never be a place for retirment, especially when you are sick, you might not want to seek medical help for fear of wiping out your savings.

It is either you retire overseas or you continue to work until you ended. I encourage people to seek the work they enjoy and love to do so that you never want to stop and you feel so proud to go to work.

Cannot agreed more to what you say. I myself have always been telling people that we should work until we could not work no more. When the time comes for you to stop working you would know it . Cheers

[Guest Other]

Any mature above 50s who are retired or with plans to retire mind to share here.

[azimuth]

If I have my way, I plan not to retire. Maybe I will run a small business or something to pass time. :-)

[Anderson]

I am planning to retire at age 50, few years down the road now, with the target savings of sgd500k, is it enough for a gay who lead a humble life ?

is this 500K the CASH savings only.

If you also have a substantial CPF savings and a paid up apartment, then its fine.

If not, you need to work several more years, at least 10 to 15 years more.

[Guest How]

May I know how u derived $500k is enough when the TS hit 50?

Assuming he has a fully paid apartment and maybe $200k in CPF.

[tic-toc]

There is a similiar thread discussion on this subject.

http://www.blowingwind.org/forum/index.php?showtopic=29671

[lohwpr]

Hv u ever seen an insurance break down on how much money will u get at the end of 25-30years when the policy expires?

U put $50,000 in total and getting $300,000 at the end of maturity?

Insurance is the worst form of investment, generally <3% per annum.

The real reason why $50,000 can become $300,000 is due to INFLATION. Not investment. Get it!!!????!!

As a matter of fact, a less than 3% return can't even cover our inflation rate now. 5.4%. Just announced by our government.

Therefore, if u need $50,000/yr to survive, the same life style requires $300,000 in 20-25 years time.

The problem with u is U assume yr $500,000 will stay $500,000 in value when u retire. Assuming u hv 20 years more to go before u kick-the-bucket, yr $500,000 will only worth $200,000 or less, assuming u do not spent a single cent.

WAKE UP!!!

Edited June 2, 2012 by lohwpr

[Guest target]

Wow! so many gurus here, now I know my mistake: I underestimate inflation might eat up my 500k into 200k in twenty yrs time. This is indeed a wake up call for me, as to how to built the nest with my saving of cash 500k , what I can find now either 2 ways : 1.buy condoy (but too expensive now), the most Ican buy a shoe box condo for renting purpose( beside I. already have a fully paid flat), or 2: buy share, but share might make a person from rich to pauper. Now I am still in dilemma for a win win situation

[lohwpr]

U should use yr money to buy 2 commercial properties.

A shoe-box shop generates better returns compared to a shoe-box residential house. The returns from commercial properties is about 5% per annual.

If I were u, I will split the $500,000 into 2 piles $200,000 each pile. $100,000 as spare cash. Just in case.

$200,000 can buy $800,000 commercial property. Assuming 20-80 loan from the banks.

Buy 2 units.

Retire at 60 instead of 50.

Finance the loan for the 2 properties over 10 years using the collected rent and yr income.

When u r 60, U will hv 2 paid up properties, each worth about $1 million or more. Should be more.

Total 2 million. 5% returns = $100,000/yr

When yr properties goes up in price, be it due to inflation adjustment or capital appreciation, yr 5 % return will also move up proportionally.

Only then, u can retire and not worry abt money anymore

Secondly, u better buy a very comprehensive health insurance to cover yr hospital bills. Or else....

Go visit www.commericalguru.com.sg

Edited June 2, 2012 by lohwpr

[Guest Retiring 40s]

Wow! so many gurus here, now I know my mistake: I underestimate inflation might eat up my 500k into 200k in twenty yrs time. This is indeed a wake up call for me, as to how to built the nest with my saving of cash 500k , what I can find now either 2 ways : 1.buy condoy (but too expensive now), the most Ican buy a shoe box condo for renting purpose( beside I. already have a fully paid flat), or 2: buy share, but share might make a person from rich to pauper. Now I am still in dilemma for a win win situation

Target,

You have to consider inflation for sure. However, it will not eat up your capital in a super fast way. The main activity is still how you invest your capital.

1. Since you have a fully paid flat, please consider to buy a condo or commercial property. However, I discourage you to buy NEW Shoe Box condo. Reason is the price is over-stated. From Geylang to off-city estates, developer is asking close to or greater than $1000 psf for a 99 yrs apartment. I strongly recommend all potential buyer to look into re-sale units regardless shoebox or ordinally size flats. Another things is location, don't let the developers or agents to convince about the potential. Example, if a SOHO unit build in the west (off city), you have to consider the potential of rental. Any industrial park or MNC or health care centre building near the condo project.

--> Purchase a property will help you to take care of inflation and also capital gain. However, is it a good time to buy now if you ask me, I will tell you later ..........

2. Alternatively, you can either to buy shares or bonds. But you really need to do some homeworks. If you have 200k or more now and putting in a FD or ordinary account, then you are really screwed by the bank. As you are not buying a property now, I would suggest you start investing in dividend shares and preference shares. Also you can buy government bonds or company bonds. These shares or bonds will give you 3-6% and at least you can get few thousands dollar for every 100k. Of couse, it come with risks on shares and bonds. Please do some homeworks.

All the best. From another retiring 40s man.

[robin]

I totally agree with Retiring40s. I understand the fear of losing the hard earned savings. But one got to understand this; In Spore, if you are just holding a salary of below $5k (personal opinion), no matter how hard you try to save, if you don't get any windfall money (eg; inheritance, money made from investment), you probably will never have enough to retire. To invest will not guarantee you will sure make money, but it does give you a chance to retire sufficiently.

No one know how long each of us will live. The way to have assurance that your 500k is sufficient for your retirement is to create some recurring income to meet your regular expenses so that hopefully the 500k will not be depleted over time.

[Guest I have no idea]

There is no way you can retire young in Singapore. Don't forget trying to keep everyday alife is a cost once you retired. The younger you want to retire eg 35 or 40yo, your savings has to be doubled than those in their 60s. Keep at least couple hundred thousands and don't touch it. Work partime or freelance to maintain your daily upkeep until you can no longer work than start to touch your savings thriftily. Than again, the medical cost in Singapore is a killer, unless there is a change of policies to look after the needy, there is no way you can run away from being bankrupt after falling ill. I have witnessed a patient selling his flat just to foot the medical bill. I was visiting a friend in hospital and heard the patient next to my friend telling the nurse that he need to liquidate his flat. It sound like a sad situation and he looks like a single with no relatives or siblings.

[Guest WantToRetire]

When do you hope to retire? In your 40s? 50s? or 60s?

And when you retire, how much monthly allowance will you give yourself?

Will you need a lump sum of money of say, $200k, or a passive income stream to fund this monthly allowance?

For me, i'm hoping to retire before 50yo, so i can do the stuff i want while i'm still active and healthy... if retire at the official age of 62 or 65, some not-so-healthy people may have problems walking fast or going overseas after retirement

for me, i'm trying to build a nest-egg of $100k (for emergencies) and getting a monthly income stream of $1k or $2k by renting out a room in my flat

i'm frugal with money... my credit card bill this month was $183 and i usually eat in hawker centres or food courts... when i'm retired, i can cook more at home and save more money

To find out how much money you need to retire, you can try a calculator like this one from NTUC (i'm not related to it... i just thought it was fun to try... you must click the thick bar below in the website to activate the calculator, btw).

http://www.haveaplan...tcalculator.php

it calculated that i need $883k to retire, based on my lifestyle.

how about you?

[slut]

this calculator only works if you're gonna retire in Singapore

[Why?]

I doubt everyone staying in Singapore can truly retire. You can always plan for retirements but will end up changing your thought when the govt said they will UP this and that into your cost. Did we not see today paper saying our S & C fees will go up again, shortly after the electricity tariff was up. Who knows, next year they will up transport fee and after next election GST fee hike. Nobody can tell what future lies because they are controlled by the greedy ones. Try not paying them and you will end up in jail or kena shamed in public papers. The rich ones are now rushing to buy a landed property in malaysia, leaving the poor to struggle with their daily lives. Retirement? sound like a hollow dream. The best retirement is to be happy, regardless of where you are in this planet - no pasta eat rice, no rice eat bread. No money to foot medical, just let it be and live happily like nothing has happened, not that the doctor are magician, you paid them to prolong your life which doesn't come free. Just live everyday like it was your last, and you know this material world is sometime not worth so much of a rememberance, I rather smell weed for free than visit garden by the bay for a fee. Ya, I think that is my opinion.

[gstc82]

Dear why, please lah. U make it should like it's Only in sg where prices increases. Which country in the world suffers from deflation? Or ideal to retire where everything is cheap? Lol.

[gstc82]

Dear why, please lah. U make it should like it's Only in sg where prices increases. Which country in the world suffers from deflation? Or ideal to retire where everything is cheap? Lol. N why trash gardens by the way? It's prices are not exectly that expansive? Eden project cost 25 pounds to visit.

[sunsun39]

well said, Newbie

[Guest workaholics]

Why do you want to retire le? Nothing to do lol.

[Guest Guest]

Yah lor gays retire do what sia? Waiting to die? Or go bkk look for young go go boys every month?

[Guest work forever]

I am worried abt retiring because I don't have a strong interest like golf or gardening. Hence, I would want to work as long as I can. Like previous post, as gay, we do not have grandchildren to play with. So it's really nothing to do. Watching tv everyday will cause mind to be inactive and slower in thinking.

People who wanna retire as early as possible, what do u guys plan to do after retirement?

[derryfawne]

People who wanna retire as early as possible, what do u guys plan to do after retirement?

For once... live life and enjoy it for what it is?

Anyway, I think 50 would be ideal (perhaps even earlier, but that's way too unlikely), but I won't be surprised if I end up retire much much later than that.

At least I don't have children to take care of when I'm that age. (Not too sure if that's a good or bad thing. )

[kee_hsiao]

truly depends on whats coming in the future...

well ideally, I'll wanna retire and enjoy life early... still, I think I'll die from boredom if I'm not working! maybe I'll continue working for as long as I can, but at a more relax pace just to keep my mind working...

[Guest Good lor]

For once... live life and enjoy it for what it is?

Anyway, I think 50 would be ideal (perhaps even earlier, but that's way too unlikely), but I won't be surprised if I end up retire much much later than that.

At least I don't have children to take care of when I'm that age. (Not too sure if that's a good or bad thing. )

Don't forget you are single income earner unless your family have left some wealth for you. Not everyone come from rich family, single income earner must forsee future cost once they retired and you have to imagine you can leave until at least 80year...that is about another 20 years of life if you stopped working at 60.

[Guest Looking ahead]

Hmmm....if you reached 50 is life any different?

I presumed you no longer can call your bf "kor kor" or poke a finger on your cheek and danced dainty. You will allocate a bulk of your expensies on creams and toner to hide the stubborn wrinkles. You felt life has entered into a new chapter and journey is no longer smooth as there will be discrimination somewhat. You go everywhere and the word "uncle" hanged in other people mouth to address you. But your heart remained young and you are not quite ready for that new chapter. Everything that is colorful you saw wearing on the young people, didn't quite match your age to put on. You can't wear tights or lingeries and going to watch cartoon movie or harry porter make you look awkward.

May be it is not so bad, because gay people don't really mind about age unlike straight people. Look at all those celebrities, they are bold and colorful. The talked like they were kids and fun words always hanged in their mouth. They winked, jumped and do all sort of stunt, but than, they are celebrities. Will they be called old hag or treated with difference in a young party world, in school (if you decided to pursue study), in work (where everyone is young). People use the word "old" to demean you if you are less smart or simply an excuse to say you are "outdated".

I am not quite there yet, but glad to know the mind of those @ 50 and beyond. Is there any advice to give or you still prefer to live life as before in your 20s, 30s and young at heart and than hide the age. I wish I will never reach 50 because I am not ready for the above scenario.