singapoor cheng hu kee siao liao!!

[leetahbar]

Singaporeans must save $5,033 a month for 'comfy retirement'
That's a whopping 66% of their yearly wage.

According to HSBC's latest study Future of Retirement: A New Reality, in order to live comfortably during retirement, people in Singapore indicate that they will require 66% (or two-thirds) of their current annual household income which works out to be S$60,400 or S$5,033 per month.

This is 68% more than in the last 2011 study where the figure was S$3,000. Singapore’s income replacement ratio, together with Australia (also 66%), is the lowest across 15 countries surveyed where the global average is 78%.

Cash remains a big part of Singaporeans’ wealth portfolio. On what makes up retirement income, the study found that the largest proportion will come from cash savings and deposits which constitutes a third (34%) of retirement income here, followed by investments (19%), and property income and assets (12%).

This reliance on cash to fund one’s retirement income is reinforced by another finding where over two-thirds (69%) of Singapore respondents expect cash savings and deposits to contribute towards their retirement income, followed by life insurance (54%), stocks and shares (37%), and income generated from property (36%).

 

[leetahbar]

how many get $5k per mth salary b4 their last working to retirement? only the paps get million$. most already got their cpfs zapped away by paying their overpriced pigeonholes. if that doesn't get u, one jackpot chronic illness shall. :(

 

[leetahbar]

The Real Singapore



A rich man and family that consists of his wife and children, live in a reasonably sized mansion. They hire several maids and butlers because they can afford it, to do the various jobs they are not willing to do.

While the wife is rather competent in tutoring the kids, soon the man hires tutors to live in the house to teach them. Then he hires a personal chef as well, as he does not fancy eating her cooking all the time. Her time spent playing badminton with her kids are also lost, when he hires a professional coach to train the kids daily. He then hires a female physical therapist for himself, as he feels that his wife massages aren't up to par. And a female psychiatrist as well, whom he spends every evening talking about his problems. Eventually, he hires more people to replace almost every thing that she performs for the family.

She suggests that he stops hiring so many people, as she is left with nothing to do, and the house is getting rather crowded for comfort. But he berates her, insisting that her suggestions will lower their family's quality of life and says he will partition the larger rooms and spaces for the good of everyone.

When she stops talking to him, he tells her that he will fire a couple of maids and a butler, so they won't have to depend too much on workers to serve their meals. She is bewildered, wondering if he means to ask her to take on those jobs instead of the things she can do as a mother, while watching other people do the things she used to do for him and her children in the increasingly cramped home.

I wonder how the story will end...

<Written by: Terence Foong>

 

[leetahbar]

relate the analogy to 6.9M. where does that leave us (the wife) standing??

 

[Leongsam]

$5033 per month x 12 = $60,396 per annum.

Assuming a 35 year career, that's $2.1 million required for a comfortable retirement which is approximately the figure I've been touting all along but still $1 million short.


http://www.sammyboy.com/showthread.php?145960-Retire-in-your-40s&p=1442647#post1442647

Most of you would have realised that it's pretty much impossible to SAVE 2 million bucks unless you're a pappy minister. You need to do it by creating wealth.

 

[kongsimi]

average sinkie pay is about 2K per month.

after paying off housing loans, rent, transportation, children fees, how much left?

where they get this kind of money?

 

[leetahbar]

Singapore Daily


Quote:
Mr Shanmugaratnam said: "Those who live in the more expensive homes should pay higher taxes."

what takes the gahmen so long to come to this? how much are they who live in the ivory towers gonna pay? obviously this one is another big wayang to pacify the unhappy majority.

 

[leetahbar]

$5033 per month x 12 = $60,396 per annum.

Assuming a 35 year career, that's $2.1 million required for a comfortable retirement which is approximately the figure I've been touting all along but still $1 million short.


http://www.sammyboy.com/showthread.php?145960-Retire-in-your-40s&p=1442647#post1442647

Most of you would have realised that it's pretty much impossible to SAVE 2 million bucks unless you're a pappy minister. You need to do it by creating wealth.

rupiahs or rupees?

 

[po2wq]

*deleted* ...

 

[Leongsam]

average sinkie pay is about 2K per month.

Why put up with the average when you can shoot for the top end?

 

[Narong Wongwan]

average sinkie pay is about 2K per month.

after paying off housing loans, rent, transportation, children fees, how much left?

where they get this kind of money?

2k can do so many things in expensive sinkieland? One night ktv finish liao.....

 

[leetahbar]

the trouble now is very systemic.

our cheng hu creeps are getting their million$ with a breeze so in their ivory towered minds, everyone should getting close to that. but in real life, it's the other way round. we are getting further and furtherer from their so called swiss standard living style.

 

[Equalisation]

kee siow ? we should be the ones kee siow !!!

All OUR hard-earned CPF money are not given to us back at age 55 !!!:oIo:

 

[leetahbar]

kee siow ? we should be the ones kee siow !!!

All OUR hard-earned CPF money are not given to us back at age 55 !!!:oIo:

cos to them and their outrageous explanation is: we can live beyond 75 or even 85 yo. now that the grand old man is approaching 90yo and still going strong. that figure would be used as a national indicator that we may also live that long.

no prize if u anticipate they shall raise the withdrawal age or increase all the medi-dunno-what-and-what again. fuck them!

 

[winnipegjets]

And the median take-home income for sinkees is $2100. How is that going to happen? Maybe LHL will give everyone the money to retire comfortably.

 

[Kinana]

Its no different from any other country.

Start working hard and earn more. You are wasting your time n efforts on this forum while so many of your singkie frens are making big bucks.

 

[enterprise2]

What is Retirement???

 

[winnipegjets]

Its no different from any other country. Start working hard and earn more. You are wasting your time n efforts on this forum while so many of your singkie frens are making big bucks.

There is a big difference. In other developed countries, the government keep cheap foreign labour out. PMET jobs are for locals first. Money you saved are yours to spent as you wish ...not held by the government for eternity.

Why are you on this forum, instead of making big bucks? Ooops, I forgot, you are slave of the PAP and they pay you pennies for your work here.

 

[leetahbar]

There is a big difference. In other developed countries, the government keep cheap foreign labour out. PMET jobs are for locals first. Money you saved are yours to spent as you wish ...not held by the government for eternity.

Why are you on this forum, instead of making big bucks? Ooops, I forgot, you are slave of the PAP and they pay you pennies for your work here.

the paps have propagated a greater divide between the haves, the have-nots and the not-full-not-hungrys. when such differences drift wider, there shall be societal unrest.

paps who live high aloft their ivory towers with their far-out and far-fetched helicopter vision shall never understand fully or even feel the slightest unhappiness to the majority ground dwellers.

we just gotta have normal vision people into parleement to actually represent the people. most if not ALL the pap mps are voted by the people to represent the gahmen instead of the voters. that is probably why the great divider shall get even wider if paps were to remain in power for a long period.

our chenghu has now become a "bo chenghu" or in simpler term, an arrogant unfeeling mafia.

 

[saratogas]

The problem what everyone wants more... Who willing to sell own self short? Even charity also have a target sum of $$$. Those in top cheng hu are very comfortable... They will never understand $ in $ out every month, what savings!