At 23 year old is it too late to worry about retirement

[Guest Guest]

When is the best age to worry about retirement .If Titus low at age 28 now semi retired I want to be earlier than him.

[Guest Rakutenn]

On 5/8/2022 at 12:29 PM, Guest Guest said:

When is the best age to worry about retirement .If Titus low at age 28 now semi retired I want to be earlier than him.

 

 

Retired as in stop working but with no financial worries and no debts and liabilities yet with multiple streams of passive income, 

 

 

Or retired , as in busted by the police and forced to shut down all illegal activities for income source yet with outstanding debts, liabilities, and no altermate passive income streams . As in Titular Low, 

 

You need to be able to distinguish the two hor. 

 

 

Retire at which age, must build up income first

 

 

 

 

[Guest Pofma]

On 5/8/2022 at 12:29 PM, Guest Guest said:

When is the best age to worry about retirement .If Titus low at age 28 now semi retired I want to be earlier than him.

he is only 22

[BudakFit]

I stated working waiting result 17...full time...then part time . Then now still 2 jobs with freelance (ad hocs or requested) plus online 🤑 haha if you into that social media thingy. 

 

Works as many you can. Have 2 banks. One savings and one for leisure/bills/invest etc...saving money 💲 also give to your parents a bit. 

 

I am not as hot or popular or in demand such as Titus but just being myself and do as much I can. If only I am not 163cm, if I am taller already be catwalk model etc...now only commercial but at least I go for casting...any model agency even though I know I get rejected but it is okay...they do still measure you etc...weights..chest...at least I make effort try....and get as many contacts I can. 

 

If I own a shop or what will model myself and invite those 165cm below to join my platforms. We deserved to be on that spotlight too...some like fun size like us some don't...so just life live...move forward....

[Guest Peterpan]

Hey its me I am the one. Pls advertise your contact on ST so I can reach u.

[Guest Bed of Roses?]

On 5/8/2022 at 12:29 PM, Guest Guest said:

When is the best age to worry about retirement .If Titus low at age 28 now semi retired I want to be earlier than him.

After you owned a house and become independent. Then start to thing what to do next.  Baby step at a time.  Don't think too much.  Remember someone tried to work extra hard, held two jobs and then suddently.....he run into a bed of cactus...(you know what I meant).

[Guest Rakutenn]

On 5/8/2022 at 1:51 PM, BudakFit said:

I stated working waiting result 17...full time...then part time . Then now still 2 jobs with freelance (ad hocs or requested) plus online 🤑 haha if you into that social media thingy. 

 

Works as many you can. Have 2 banks. One savings and one for leisure/bills/invest etc...saving money 💲 also give to your parents a bit. 

 

I am not as hot or popular or in demand such as Titus but just being myself and do as much I can. If only I am not 163cm, if I am taller already be catwalk model etc...now only commercial but at least I go for casting...any model agency even though I know I get rejected but it is okay...they do still measure you etc...weights..chest...at least I make effort try....and get as many contacts I can. 

 

If I own a shop or what will model myself and invite those 165cm below to join my platforms. We deserved to be on that spotlight too...some like fun size like us some don't...so just life live...move forward....

 

 

Never say give up spirit, admirable

[cityhallguy]

On 5/8/2022 at 4:29 PM, Guest Guest said:

When is the best age to worry about retirement .If Titus low at age 28 now semi retired I want to be earlier than him.

If you are really worry about retirement, then the first step you must do is to insure yourself with a huge sum of money. So if one day, you kanna disability and can’t work. This huge sum of money that you have insured will allow you to retire.

 

Next after you you got yourself insured, then you need to calculate how much money you need to have to retire.
 

So you said you wanna retire earlier than Titus so assuming 27yo, average lifespan let’s said 85yo. So 85yo -27yo = 58years

Then you need to calculate out your annual expenses.

And finally using a financial calculator, you can calculate the “X” amount of money with compounding 9% inflation rate you need for the next 58years once you retired at age 27. 

So you are 23yo now and 4years to 27yo. Then once you know you need this “X” amount of money to retire at 27yo. 

Basically, you only have 4 years to save this “X” amount of money to retire at 27yo.

 

Above given is just a very simple calculation. Plus you never know what will happen in your life along the way. 
To retire in 20s is very ambitious unless you are born rich, strike big TOTO, suddenly inherited big wealth or damn lucky that you found someone to feed you. 
 

To me, save as much as possible while you still can work and when you know your health and well-being beginning to decline, then you should really start worry about retirement. However, if you save regularly when young, then you will have accumulated a big sum of savings, which means you can have less worry for your saving to save for retirement at your later age.
So in short, save as much money as possible.
There’s no limit on how much you should save but there’s a limit of how much you should spend.

We will never know which day we will need to spend a huge money to save our lives, families, or things that are important to us.

 

[manehiso]

At 23, u're definitely not too late to worry about retirement. In fact, u have the advantage of having time to let compound interest work in your favour while saving and investing. Use that to your advantage to grow your funds for retirement! 

[Steve5380]

Poor Titus Low!   All he wants to do is cultivate the joy of sex.

 

Worrying about retirement?  Retirement is to stop doing productive work.

 

If you have vocation, enthusiasm, ambition, the last thing you want to think about is retirement.  Challenging productive work should give much satisfaction in life!

 

But I forget that this is about Singapore.  The isle is too small to offer too many challenging productive work opportunities.

 

Maybe what Singaporeans at 23 should be thinking about is to widen their horizon,  become more cosmopolitan,  not to travel the world for vacation, but to find a country where good work opportunities are nearly endless,  like America.  Today there are here countless job openings of all sorts, and not enough people to fill them.

 

If Titus Low would do his activities in the US,  he would not be arrested for producing gay videos.

[singalion]

23 y is seriously too late to start planning for retirement! The parents should have opened a savings account even before he was conceived

...

Shame on them!!!

 

 

[Guest Guest]

Nowsaday young parents will start opening a saving account when u were 5 years old.If u were 23 and depend on yourself to open a saving account yes that is a bit late .U have lost 18 years of yr saving  if u compare with  at 5 year old  who have already open a saving account when young.

[Steve5380]

On 5/8/2022 at 8:01 PM, singalion said:

 

23 y is seriously too late to start planning for retirement! The parents should have opened a savings account even before he was conceived

.

 

You think so?

 

Savings accounts for the children?   Much more important is to give children a GOOD education.  Looking out in elementary school that they develop discipline and perseverance doing their homework,  same in high school opening their horizons by exploring their vocations and plans for their future adulthood.

 

Once adults, the children could plan for retirement,  not for their money then, but their HEALTH and FUNCTIONALITY then.  The most important thing in retirement is HEALTH and FUNCTIONALITY,  not money.  In this way, they will need little money to have a decent, happy retirement life. 

 

If they have limited money, they can always retire to the Singapore wilderness, and build themselves their retirement residency.  Like the guy in this video:

 

 

He looks happy!  

[Guest Life is a Fantasy]

Retirement is a journey.  Just like a monk planning his journey to the West.  He thought he could reach there within months, but ended up 14 years later, with many tribuations and obstacles along his way and not without help of dieties.   

 

I planned my retirement at early 20s, bought savings insurance. Then at 30, recession hit and I lost my jobs and couldn't get up thereafter.  All jobs went to foreigners.    I surrendered my insurance to get by day by day.  Then In my mid 30s I found a job, save enough but ended up using my savings to buy a house to be independent.  Then I continue working, hoping I can still hope for "early retirement" bu my company closed down. Thereafter  I was unemployed for the longest preriod and at the same time, our population exploded, cost of livings sky rocket to be number 1 in the world.  You asked to lower your expectation by our labour union,  accept depressing salaries and live on frugality (statement from our lady president and Senior minister)...with the hope that by the time you aged, life will gets better, boss will pay you well and society will accept you.....

 

Then reality hits you hard and brutal  that as your journey get nearer and closer to what you original planned in your 20s, there was no light in the tunnel.  You think planning for retirment is easy?   In Singapore, you can only fantasize, based on my experiences above, even when I have already planned it in my early 20s.

[Steve5380]

7 hours ago, Guest Life is a Fantasy said:

Retirement is a journey.  Just like a monk planning his journey to the West.  He thought he could reach there within months, but ended up 14 years later, with many tribuations and obstacles along his way and not without help of dieties.   

 

I planned my retirement at early 20s, bought savings insurance. Then at 30, recession hit and I lost my jobs and couldn't get up thereafter.  All jobs went to foreigners.    I surrendered my insurance to get by day by day.  Then In my mid 30s I found a job, save enough but ended up using my savings to buy a house to be independent.  Then I continue working, hoping I can still hope for "early retirement" bu my company closed down. Thereafter  I was unemployed for the longest preriod and at the same time, our population exploded, cost of livings sky rocket to be number 1 in the world.  You asked to lower your expectation by our labour union,  accept depressing salaries and live on frugality (statement from our lady president and Senior minister)...with the hope that by the time you aged, life will gets better, boss will pay you well and society will accept you.....

 

Then reality hits you hard and brutal  that as your journey get nearer and closer to what you original planned in your 20s, there was no light in the tunnel.  You think planning for retirment is easy?   In Singapore, you can only fantasize, based on my experiences above, even when I have already planned it in my early 20s.

 

From what you describe, the best planning for retirement a Singaporean can do is to learn and acquire a degree that allow him to migrate to America, make a career there, where there are plenty of good jobs for the educated, save some money, retire with a pension and / or Social Security in dollars,  and then return to Singapore where he he gets the totality of his retirement dollars sent to him.

[Guest huh?]

56 minutes ago, Steve5380 said:

 

From what you describe, the best planning for retirement a Singaporean can do is to learn and acquire a degree that allow him to migrate to America, make a career there,

Many degree holder Americans are unemployed or underemployed too.  What are you talking?

[Guest Guest]

8 hours ago, Guest Life is a Fantasy said:

Retirement is a journey.  Just like a monk planning his journey to the West.  He thought he could reach there within months, but ended up 14 years later, with many tribuations and obstacles along his way and not without help of dieties.   

 

I planned my retirement at early 20s, bought savings insurance. Then at 30, recession hit and I lost my jobs and couldn't get up thereafter.  All jobs went to foreigners.    I surrendered my insurance to get by day by day.  Then In my mid 30s I found a job, save enough but ended up using my savings to buy a house to be independent.  Then I continue working, hoping I can still hope for "early retirement" bu my company closed down. Thereafter  I was unemployed for the longest preriod and at the same time, our population exploded, cost of livings sky rocket to be number 1 in the world.  You asked to lower your expectation by our labour union,  accept depressing salaries and live on frugality (statement from our lady president and Senior minister)...with the hope that by the time you aged, life will gets better, boss will pay you well and society will accept you.....

 

Then reality hits you hard and brutal  that as your journey get nearer and closer to what you original planned in your 20s, there was no light in the tunnel.  You think planning for retirment is easy?   In Singapore, you can only fantasize, based on my experiences above, even when I have already planned it in my early 20s.

Quite true, you can plan everything for your retirement in tip top planning, however if any unforeseen situation happens along the way, it could totally changed your initial plan that you have, or even might wipe out the funds that you have saved for retirement. Good to plan for retirement but nothing is guaranteed. 

[Steve5380]

9 hours ago, Guest huh? said:

Many degree holder Americans are unemployed or underemployed too.  What are you talking?

 

Unemployment in America is quite low now.  But, if you want to stay in Singapore,  not on its wilderness but closer to downtown,  you can always make yourself an inexpensive place to live,  like the girl in this video,  after finding an empty spot in some green area, like Ford Canning Park.   If a GIRL can do it...  so can you!   

 

 

 

[Guest Guest]

14 hours ago, Steve5380 said:

 

Unemployment in America is quite low now.  But, if you want to stay in Singapore,  not on its wilderness but closer to downtown,  you can always make yourself an inexpensive place to live,  like the girl in this video,  after finding an empty spot in some green area, like Ford Canning Park.   If a GIRL can do it...  so can you!   

 

 

 

Is this real? One person can build this underground from scratch? Like so easy.

[Steve5380]

6 hours ago, Guest Guest said:

Is this real? One person can build this underground from scratch? Like so easy.

 

I don't think it is real.  Who captured all this ridiculous work on video?  I posted this video, together with the idea of making this "underground villa" on Ford Canning Park, like the previous one with a house to build in Singapore's "wilderness",  as a joke.   You gays in this thread are tooooo serious about thinking of retirement at 23, ha ha,  so I thought that a little humor could help   

 

But with the joke comes also an idea about materialism...  Not all in life is about money.   A little child does not need a savings account.  He needs a good education and guidance from his parents BY EXAMPLE.   If at 23 he owns only one dollar,  he should be able to start earning some money if in university,  or good money if he gets a job.  Then,  by the time he may retire 40 years later,  his estate should come from his work of 40 years, not from his childhood savings account.  ( I never inherited ONE cent, but got an excellent education.  Thank God I was paid well for my work !! )

.

Edited April 19 by Steve5380

[Guest Guest]

Why think so much and worry so much if it would be too late to think retirement at 23. In this era, many people are YOLO, live now, don't worry so much for the future.

[Steve5380]

21 hours ago, Guest Guest said:

Why think so much and worry so much if it would be too late to think retirement at 23. In this era, many people are YOLO, live now, don't worry so much for the future.

 

You are right.  This is why these many people end up rapidly declining in middle age and becoming tragically helpless, incapacitated,  giving a bad name to the status of Senior.

[Hengheng]

[Steve5380]

One would think that the way to retire the earliest possible...  is by not ever work.  

 

But there is a catch:  Not having ever worked,  no retirement is possible!  😄

[AJBoy]

Of course too late to worry about retirement at 23yo. Should start planning once you are out from birth 🤔 

[Steve5380]

On 4/24/2024 at 6:37 PM, AJBoy said:

Of course too late to worry about retirement at 23yo. Should start planning once you are out from birth 🤔 

 

This is still too late.  Shouldn't planning start as soon as the mother detect that she is pregnant?

[Guest Lol]

Why worry about retirement when you can't even live right now. 

[Guest The Jumper]

On 4/30/2024 at 6:28 AM, Steve5380 said:

 

This is still too late.  Shouldn't planning start as soon as the mother detect that she is pregnant?

Don't worry about it.  His parents have already planned for their child future the moment she realised she was pregnant.  Here is the catch.  They only planned 15 years ahead of time.  Once TS reached 15 yo, he has to plan another 15 years ahead of his time.  Once he reached 30 years, he will have to plan another 15 years ahead of his time.  Once he reached 45yo, it will be the right time to take full stock of his journey and see how far and high he can spring from there if he has only one last jump to determine life and death. 

[Guest Lol]

Yeah too late. 

My friends parent top up my friends CPF the moment he is born. 

 

He estimated that by the time he retire his CPF will hit millions. That's without even taking into account his own contributions. 

 

So yeah investment starts pre birth. Everything else is too late. You need to invest now for your 2 generations down the line. 

[Steve5380]

9 hours ago, Guest Lol said:

Yeah too late. 

My friends parent top up my friends CPF the moment he is born. 

 

He estimated that by the time he retire his CPF will hit millions. That's without even taking into account his own contributions. 

 

So yeah investment starts pre birth. Everything else is too late. You need to invest now for your 2 generations down the line. 

 

I think that all this early investment for the children reveal A TREMENDOUS LACK OF CONFIDENCE.  Such parents may feel that their children will lack the competence to make a living and earn their money THEMSELVES.

 

No person I know has opened a savings account for their young children.  Not my parents for their children  ( including me ) nor did I do so for my son.  Yet we all got a good education and have been able to do well economically from our own work.  And about my young grandchildren, I have no plans to leave them one dollar to inherit.  They are healthy and intelligent, and so should fend for themselves.  This strive to get ahead preserves...  the good genes, ha ha. 

[Steve5380]

10 hours ago, Guest The Jumper said:

Don't worry about it.  His parents have already planned for their child future the moment she realised she was pregnant.  Here is the catch.  They only planned 15 years ahead of time.  Once TS reached 15 yo, he has to plan another 15 years ahead of his time.  Once he reached 30 years, he will have to plan another 15 years ahead of his time.  Once he reached 45yo, it will be the right time to take full stock of his journey and see how far and high he can spring from there if he has only one last jump to determine life and death. 

 

This planning sounds like what one would do for an object, a machine, to depreciate it with time based on well established criteria based on use, etc.

 

Is this what we should do with a living being,  a living creature full of unpredictable complexities?  Who wants a life full of JUMPS? 😄

.

Edited May 3 by Steve5380

[Guest Guest]

10 hours ago, Guest Lol said:

Yeah too late. 

My friends parent top up my friends CPF the moment he is born. 

 

He estimated that by the time he retire his CPF will hit millions. That's without even taking into account his own contributions. 

 

So yeah investment starts pre birth. Everything else is too late. You need to invest now for your 2 generations down the line. 

No lah, your CPF should have lots of money if you started working with high salary and you never use your cpf money to buy house esp during when the house price is ex.