Is $50,000 per year enough to retire in Spore?

[Scrooball (clone)]

I find that rental income can be a good source of passive income against inflation.

 

[chootchiew]

The important thing is to get into the habit of putting aside something each month. The trouble in Spore is that here's not much oppurtunity to grow what you have saved because of the high overheads that is charged.

Something you can consider is to invest in Malaysia stocks. Simple to do:
Open a Malaysian trading account in JB.
Save some $SIN.
When the exchange rate is favourable, convert to ringgit & use the ringgit to buy Malaysian blue chip stocks.
When the stocks pay a dividen use it to buy more stocks.
Keep doing this until you retire.

If you do it right, you'll minimise your exposure to the foreign exchange fluctuations. The reason I am suggesting investing in Malaysia & not Spore is because of the highe over heads in Spore.

In Malaysia they don't charge a monthly fee for holding your stocks.
There is no gst charged for the stocks bought & on the dividens.
You can buy shares in 100 lots vs in Spore where a lot is 1,000 shares.

Hmm, Msian stocks. Will one end up buying a stock that does not exist ? I have heard of people buying property that does not exist

 

[johnny333]

Hey johnny333,

You still want to argue when forummers here tell you that Apple shares has started its bear trend ? Or are you in denial mode ?

You still think you are very smart ?

I'm an investor & not a trader.

I've been accumulating my Apple stocks for 20+ years back when the price was only $7. Have seen many bear trends before & am confident that AAPL will recover. Just a yesterday the stock price spiked because of rumors that they will be raising the dividen.

Have some regrets about not taking profit when the shares were $700 & going back in at $419 but any trader will tell you that you can't time the markets. Important thing is that I'm comfortable with my holdings

 

[johnny333]

Hmm, Msian stocks. Will one end up buying a stock that does not exist ? I have heard of people buying property that does not exist

Get blue chips like Maybank, Public Bank, Telecom Malaysia, Sime Darby,..... They pay you DIVIDENs = $$$$

 

[johnny333]

I find that rental income can be a good source of passive income against inflation.

You mean REITs?

 

[zhihau]

You mean REITs?

Riady's First REIT, good? about 10% on dividend last year.

 

[johnny333]

Hmm, Msian stocks. Will one end up buying a stock that does not exist ? I have heard of people buying property that does not exist

Important for any investor is to do own homework & ignore the propaganda of some old man bad mouthing our neighbors

Know many uncles & aunties who have been getting healthy dividens from Malaysia for decades. Such as my mother:o

 

[johnny333]

Riady's First REIT, good? about 10% on dividend last year.

When I buy a share I keep it for a long time i.e. investor & not a trder. The Spore system penalizes investors like me e.g. charges a monthly holding fee.

So that's why I sold ALL my Spore shares and am only involved in the US & Malaysian markets.

 

[johnny333]

If anyone needs to track shares in the Spore, US, Malaysian,...markets. I find Bloomberg's portfolio tracker very useful. It allows you plug in a list of stocks you follow in one window. All the important stats is linked to ones portfolio: opening & closing prices, weekly & yearly highs & lows, etc.

What I find useful is the dates that a dividen is expected. Very useful to know for my Malaysian stocks

 

[po2wq]

When I buy a share I keep it for a long time i.e. investor & not a trder. The Spore system penalizes investors like me e.g. charges a monthly holding fee.

So that's why I sold ALL my Spore shares and am only involved in the US & Malaysian markets.

ur brokerage firm penalizes u oni if u r holding msian shares (not sure about us shares) n dun trade ... dey dun hold ur sinkielan shares 4 u (cdp holds 4 u), so if u hold oni sinkielan (no msian) shares n dun trade, dey oso wun charge u fees ...

 

[Scrooball (clone)]

If anyone needs to track shares in the Spore, US, Malaysian,...markets. I find Bloomberg's portfolio tracker very useful. It allows you plug in a list of stocks you follow in one window. All the important stats is linked to ones portfolio: opening & closing prices, weekly & yearly highs & lows, etc.

What I find useful is the dates that a dividen is expected. Very useful to know for my Malaysian stocks

CNBC iPad app is very good as well. Gives you real-time price movement of your pre-selected portfolio.

 

[Unrepented]

@sgd50,000 a year, @5% inflation rate per year, by tenth year, you will have about 60% of the purchasing power of the first year:(

I was talking to someone & the the discusson on just how much you need per year came up. If one has already got a home fully paid up. No intention of owning a car. Can a single person survive on only $50,000 per year for the next 20 years

I remember someone mentioned a figure of retiring with $1.3 million, is this really enough? Or should someone consider moving out of Spore?

 

[Narong Wongwan]

If you have 50K passive income per year and are retired, get the fuck out of SG and live like a king somewhere else

This is best advice.
Keep the sinkie property for rental if dun want to sell.
Go retire in LOS live like a king.

 

[Scrooball (clone)]

You mean REITs?

REITs used to have a very bad name. Notorious for under performing. But REITs are considered stable. When i mentioned about rental income i was referring to personal property being rented out.

 

[johnny333]

ur brokerage firm penalizes u oni if u r holding msian shares (not sure about us shares) n dun trade ... dey dun hold ur sinkielan shares 4 u (cdp holds 4 u), so if u hold oni sinkielan (no msian) shares n dun trade, dey oso wun charge u fees ...

The share were bought during the time when Sporeans could buy Malaysian shares through CLOB.
At that time no holding fees were charged.

I believe that you will also be charged a holding fee for a Spore shares if you don't actively trade for that month.
The same thing happened with my CPF investment shares. Originally there was no fee but the rules were changed & now they charge.

That's why I'm out of the Spore market. The rules are changed for the benefits of the brokers at the expense of the little guy
In the US & M'ysia these holding fees are not charged. Years ago Etrade did charge customers a holding fee if the customers didn't maintain a minimum $ amount but competitive pressure forced them to discontinue this practice.

 

[johnny333]

CNBC iPad app is very good as well. Gives you real-time price movement of your pre-selected portfolio.

Nice thing about the iPad is that many banks are starting to support this platform.
They are starting from scratch without the old baggage like IE(Int explorer)

In the case of Maybank you can use an iPad for trading. However if you use a PC or Mac you can only do so if you are using IE.

That's why I am planning to get an iPad.

 

[Scrooball (clone)]

Nice thing about the iPad is that many banks are starting to support this platform.
They are starting from scratch without the old baggage from like IE(Int explorer)

In the case of Maybank you can use an iPad for trading. However if you use a PC or Mac you can only do so if you are using IE.

That's why I am planning to get an iPad.

Do not get the cheesy iPad mini. Get the retina display regular iPad.

 

[johnny333]

Do not get the cheesy iPad mini. Get the retina display regular iPad.

Waiting to see the next release of both the iPad & iPad mini. The new iPad mini is rumoured to be a retina unit.

 

[ginfreely]

Hi Johnny333,

I think $50k per year is definitely enough for retirement in SG. Currently, can even go for yearly holidays beyond the region. However, the major uncertainty is the medical expenses in SG during retirement, which depends on the health conditions of you and your friend.

An illness can wipe out all savings without insurance coverage and getting insurance now won't help to cover pre-existing health conditions. Chronic illness that require expensive medications are also not covered by normal health insurance plans that cover hospitalisation but don't cover outpatient costs.

 

[Scrooball (clone)]

Actually $50,000 is enough if you have adequate insurance coverage. Good enough for makan outside twice a week at restaurants. Rest of the time, cook at home. U should be fine.