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The RETIREMENT thread

lifeafter41

Alfrescian (Inf)
Asset
Re: Should he retire?.

My feedback has nothing to do with "feelings". I simply do the sums and present the results in black and white.

The issue is not how much a potential retiree has in assets. It's all about what his expectations are once the steady income stops coming in.

Your friend can certainly afford to retire if he decides that he will adopt a lifestyle that costs no more than $3000 to $4000 per month. He'll be able to add to his nest egg and save even more money as time goes by.

Since he's managed to save a considerable amount over the years, it's obvious that they don't spend all that they earn so the forecast $6,700 per month income may not be too far off what they are currently spending. Retirement is a very personal thing. There is no magic formula that will give you a definitive answer. There are only guidelines.

In NZ retirees with zero savings have to survive on only $290 per week ($1160 per MONTH) because that's all the NZ superannuation system will pay regardless of how much taxes you have paid over the years.

The CPF system is far better than the NZ superannuation scheme because with CPF, the more you put in, the more you get out.
What is the tax rate in NZ.
Is the NZ superannuation system similar to the US Social Security?.

Can we say that once you pay NZ tax, you are enrolled in their superannuation system.
I believe there should be a number of years to pay in before a person is being enrolled, else it will not be viable.
 

Leongsam

Administrator
Admin
Loyal

iamhere

Alfrescian
Loyal
Re: Should he retire?.

If not for PAP's fine leadership, all of these would not have been possible for your friend.



In reality, the nation have been providing welfare state benefits "minimum wages" in millions to each individual leech aka papee, (juz because of one party rule system) to leeches aka papees leeching on the system. These leeches aka papees wasting nation's time and resources and etc every single second of the Mother Earth's day. By some unfortunate default, we as a nation have to put food on table and tonnes of $$$ for these leeches...


The country needs the government (employees of the public) to work for the country.
Can these leeches aka papees become self reliant? Get a job and be prepared to work hard
at least for once in a lifetime. Stop Leeching on the system.




FUCK PAP, FUCK PAP, FUCK PAP.........
MAY PAPEES, CRONIES N FAMILIES BURN ETERNALLY IN HELLS.........
MAJULLAH SINGAPURA.........
GOD BLESS SINGAPORE..............
REMEMBER to

VOTE papees OUT



do yrself, yr forefathers and yr generations to come, a favor, a service and a long-awaited justice





:wink::wink::wink::biggrin::biggrin::biggrin::wink::wink::wink:



iamhere says a lot about this:"The democracy shall cease to exist when you take away from those who are willing to work and give to those LEECHES who would not.”
 

JohnTan

Alfrescian (InfP)
Generous Asset
Re: Should he retire?.

No. He should work himself to the coffin !:o:eek:
Not counting those whose businesses have failed, the main group of people I know who would be working till they drop dead are those who did no financial planning of any kind. Most of the time, their reasons for not doing so are "too busy with work", "I am not interested" and overspending. Serves them right!
 

eErotica69

Alfrescian (InfP)
Generous Asset
Re: Should he retire?.

Not counting those whose businesses have failed, the main group of people I know who would be working till they drop dead are those who did no financial planning of any kind. Most of the time, their reasons for not doing so are "too busy with work", "I am not interested" and overspending. Serves them right!
Some I know do not retire by choice and not financial circumstance.

Some of these people cannot forego their business titles, like Director, Colonel, Vice President, Chairmain, CEO, CFO, COO, Chief Engineer etc.. Some just do not have any life outside their worklife.
 

tonychat

Alfrescian (InfP)
Generous Asset
Re: Should he retire?.

Some I know do not retire by choice and not financial circumstance.

Some of these people cannot forego their business titles, like Director, Colonel, Vice President, Chairmain, CEO, CFO, COO, Chief Engineer etc.. Some just do not have any life outside their worklife.
some like you need to ask your islamic religion if you can be promoted or can you eat pork for the start.
 

Thick Face Black Heart

Alfrescian (InfP)
Generous Asset
Guide for Singaporean retirees

Migrating or Planning to reside on a long term basis

Typically there are 2 major avenues of making the move overseas

Option 1 - The intention is to move permanently and these are either as (a) skilled migrant, (b) Investor or (c) Dependent. Those who plan ahead,can use the skilled migrant category and drop anchor, serve a period of residency and then finally move to retire.

Option2 - Most countries have programs to accommodate foreign nationals on 5 year or extended stay visas. Australia is popular with Singaporeans and there are many such residents whose visas are extended every 5 years. They however do not have access to the welfare/free health but enjoy all else. Malaysia too has a silver hair program.

For details of various categories, consult the sticky thread and the websites of the popular countries which are listed.

Profile of a Retiree and their Needs

Many are set in their ways and they will going into a new country with relative fewer opportunities to meet new people compared to younger migrants who have ample opportunity to make new friends especially locals of the new country in their workplace, pubs, at sports etc. So be prepared.

Your first interactions are those who are family and friends of your relative or family members that migrated earlier. Vernacular church is another. These might prove boring over time especially if the circle is "outdated". Work out a routine on how best to do it and then choose the city, the house etc and begin enjoying life.

Challenges faced by retirees

Many retirees end up in Leeds, Vancouver, Adelaide, Canberra etc because they had followed their kids who are studying there or family members who migrated earlier. The city itself might not be suitable for retirees or the presence of like minded people might not be around.

A better way is to treat the first move as transient and then make the final decision when you are better informed. Any way, most kids after their study return to Singapore or move to bigger cities. And the parents end up stuck in the city. So plan carefully.
 

Asterix

Alfrescian (Inf)
Asset
Re: Guide for Singaporean retirees

It's a $64,000 question[1] ....................

[1] In ancient times, ownership of a ship is divided into 64 shares

[video=youtube;ve-LBM5iBS4]https://www.youtube.com/watch?v=ve-LBM5iBS4[/video]
 

Asterix

Alfrescian (Inf)
Asset
Re: Guide for Singaporean retirees

KNN, nobody interested in retiring? A sticky thread without a new post for 7 months!

[video=youtube;ttXtAKHRtlA]https://www.youtube.com/watch?v=ttXtAKHRtlA[/video]
 

yahoo55

Alfrescian
Loyal
Re: Guide for Singaporean retirees

A question for the New Zealand residents in this forum, how much money does a foreign couple in their mid forties need to retire comfortably in New Zealand?
 

Leongsam

Administrator
Admin
Loyal
Re: Guide for Singaporean retirees

A question for the New Zealand residents in this forum, how much money does a foreign couple in their mid forties need to retire comfortably in New Zealand?
If you're debt free in NZ $5000 per month will ensure a comfortable existence if you have permanent residency.
 

Asterix

Alfrescian (Inf)
Asset
Re: Guide for Singaporean retirees

500,000 log cabins in a country with a population of 5 million ........... guess the country ...........

[video=youtube;Qov9GNa-CNc]https://www.youtube.com/watch?v=Qov9GNa-CNc[/video]
 
Re: Guide for Singaporean retirees

Retirement in Singapore is for the privileged. The privileged do not post in this forum. Hence this thread got no business.

KNN, nobody interested in retiring? A sticky thread without a new post for 7 months!

[video=youtube;ttXtAKHRtlA]https://www.youtube.com/watch?v=ttXtAKHRtlA[/video]
 
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