How much money needed to Retire?

[JizFries]

Originally Posted by jacky43

I have no proof. 1966 saw the most babies born at KKH. A world record of most babies born in a hospital. It also include babies born around this country. What happen?

Next yr these babies reached 55 yrs old. They can withdraw $ from RA and SA. Hold on. There are cases where is not possible.

People who passed on. People who did not contribute to CPF and, those who migrated. Will CNA report this? I doubt so.

People who passed on - their beneficiaries will get the person's CPF money
People who did not contribute to CPF - the ones who are suffering right now when they are old
those who migrated - most of them who have renounced their citizenship will also have taken out all their CPF monies.

so you are kp-ing about what? lol.. plus CNA report all this for? the money already not inside CPF, report for f?

[bignehneh]

Assuming if you have $1mil in your cpf. You put $279,000 as enhance retirement sum which gives you about $2300 per month. The remaining $720k just invest in some bonds or reits that can give you 2-4% returns. Alternatively just put inside cpf to earn the interest.

Good right?

[lipe]

Top up $7,000 cash for tax planning. This will help to reduce your tax liability and same time save more for retirement.

Originally Posted by JizFries

You be surprised that actually more ppl are doing top-ups to CPF as we speak.

https://www.channelnewsasia.com/news...ement-13327948

[lipe]

"their beneficiaries will get the person's CPF money"

Bro, you must check that the instruction to CPF Board is that your beneficiaries are receiving your CPF in CASH. If not the money will go to you beneficiaries CPF accounts.

This is a bloody opt in opt out for certain year onwards.

I have made sure by going down to CPF and have the officer show my selection is CASH on the computer screen.

Not a joke. Better to check rather than your beneficiaries kao be kao bu your CPF money goes into their CPF account instead of receiving CASH.

Originally Posted by JizFries

People who passed on - their beneficiaries will get the person's CPF money
People who did not contribute to CPF - the ones who are suffering right now when they are old
those who migrated - most of them who have renounced their citizenship will also have taken out all their CPF monies.

so you are kp-ing about what? lol.. plus CNA report all this for? the money already not inside CPF, report for f?

[lipe]

Check with CPF. There is a limit to accounts having 2.5%, 4% and 6% interest.

It is not a blanket higher interest rates for every cent.

CPF website is down now. You can check later.

This MOH will give you an idea.

https://www.moh.gov.sg/news-highligh...e-sum-for-2021

Originally Posted by bignehneh

Assuming if you have $1mil in your cpf. You put $279,000 as enhance retirement sum which gives you about $2300 per month. The remaining $720k just invest in some bonds or reits that can give you 2-4% returns. Alternatively just put inside cpf to earn the interest.

Good right?

[bignehneh]

Don’t need to aim too high. When retire, whack into reits to get 4%.

$700,000 x 4% = $28000 a year ($2300 a month). So if you add $2300 to another $2300 (ERS) = $4600. Should be ok la. This is only your cpf. Assuming you whack your SRS for 10 years. You should get another $153,000. Spend it over 10 years will be $1300 per month.

Of course cannot find ML, KTV girls for FJ etc....live normal

https://dollarsandsense.sg/1m45-reac...on-cpf-age-45/

[CumExplorer]

Originally Posted by JizFries

You be surprised that actually more ppl are doing top-ups to CPF as we speak.

https://www.channelnewsasia.com/news...ement-13327948

CPF interest rate is better than lot of investment products with no-worry rewards, not good but not bad also

[CumExplorer]

Originally Posted by itguy2008

Bro, don't panic. My dad pass away last year. His remaining CPF amount went to my mother, my sister and me according to his nomination.

Which we did what most kids will do, we return it all to my mother. You pass on, does not mean the CPF goes to government. So don't panic.

you are good itguy hehe, i know lot of guys not as good as you and dont have enough cpf in their account

[CumExplorer]

Originally Posted by lipe

Check with CPF. There is a limit to accounts having 2.5%, 4% and 6% interest.

It is not a blanket higher interest rates for every cent.

CPF website is down now. You can check later.

This MOH will give you an idea.

https://www.moh.gov.sg/news-highligh...e-sum-for-2021

thanks bro, up you

Can elaborate it more for this ?

[lipe]

Originally Posted by CumExplorer

thanks bro, up you

Can elaborate it more for this ?

Thanks. Spent two bullets this morning. Will have to wait until tomorrow.

You need to delve into MOH and CPF website to read the bewildering schemes of interest rates.

This may help as it involve increase 2021 CPF contribution rates.

https://sg.news.yahoo.com/pros-cons-...042951199.html

[squiggle]

Just work till you die, whatever you like and being available to you. Save and invest. Then you will not have to worry much, everything will go in place and pace.

[havana]

Now FD has dropped so much...Any recommendation for good dividends shares to buy?

[abcitbats]

2.5% and 4% is base for all amount, 6% is only applicable on the first x amount only, amount beyond the x is reverted back to the base %

Originally Posted by lipe

Check with CPF. There is a limit to accounts having 2.5%, 4% and 6% interest.

It is not a blanket higher interest rates for every cent.

CPF website is down now. You can check later.

This MOH will give you an idea.

https://www.moh.gov.sg/news-highligh...e-sum-for-2021

[abcitbats]

it may not be just about how i want to live my life that define how much money i need to save, it also depends on whether one falls sick or not, especially very sick, there is a common saying about living in singapore, it is better to die than sick

Originally Posted by lipe

After retirement, it is the life style you choose to live.

You also need to adjust spending habit and expectations.

The basic need - food and household utilities - are taken care of, then surplus is how you want to spend it.

As long as you don't live hand to mouth then retirement is peaceful.

Originally Posted by vendomy8282

how much money is hard to say, it solely depends on the quality of life that you wish to live on

[lipe]

Take time to see.


What Retirement On $1,000-$2,000 A Month In Singapore Looks Like