what is your retirement plan?

[egal]

if any?

[blueduck]

have a restaurant and durian orchard (I planting some durian trees)

[radiusulnar]

CPF Life payout

[egal]

is it enough

[radiusulnar]

I hope so. It's just for living expenses.

[iKneadyou]

Run a foot reflexology center for income

Edited March 12, 2024 by iKneadyou

[Singroc]

17 hours ago, radiusulnar said:

CPF Life payout

Frankly, based on the full retirement sum, you only get $16xx per month. Hardly enough unless you live a frugal life.

[M4L4Y]

Sell off my condo unit... buy a small land with small house in M'sia... get by daily selling food along the roadside outside my house!!! 🙂🙂🙂

[doncoin]

I don't think I will ever fully stop working, but my dream has always been to buy a vineyard in South Africa, spend part of the time there, and the rest of the time be an advisor to companies to keep life interesting. 

[aftereightme]

3 hours ago, doncoin said:

I don't think I will ever fully stop working, but my dream has always been to buy a vineyard in South Africa, spend part of the time there, and the rest of the time be an advisor to companies to keep life interesting. 

And then you drunk at the vineyard in South Africa ... sexually, erotically, seductively ... how I hope to business partner with you in that big space of vineyard surrounded by Africans 😆 😂 

[aftereightme]

On 3/13/2024 at 9:49 AM, Singroc said:

Frankly, based on the full retirement sum, you only get $16xx per month. Hardly enough unless you live a frugal life.

my neighbours told me easily hit $3000 per month since they retired

Edited March 23, 2024 by aftereightme

[mp440028]

Depending on your lifestyle, $2.5k/$3k is actually sufficient. It should cover most bills, the ocassional nice lunch or dinner. I used to budget $2k when I first retired, now upgraded to $2.5k because of inflation.

 

Have a spending tracker, something like 1Money which you can download from the Google Play or something to keep track of expenditure. It's easy to use and can be personalized.

 

The only way to keep to budget is to be aware of what you are spending. It can be painful if you have a big ticket item to buy. And don't cheat. After a while, you know what are your fixed expenditures, and what are frivolous items, and from there, adjust your budget.

 

Hope this helps.

 

 

 

 

[doncoin]

18 hours ago, aftereightme said:

And then you drunk at the vineyard in South Africa ... sexually, erotically, seductively ... how I hope to business partner with you in that big space of vineyard surrounded by Africans 😆 😂 

 

 

I don't drink a lot which makes it ideal for me to own a vineyard. To be honest, I am thinking more of buying into a partnership of an existing place, that is large enough to have a house where I can live part-time. I love the areas surrounding Cape Town and can definitely see myself spending more time there hopefully in the future. 

[egal]

vineyards sound hard to manage, with climate change and all, u cannot predict the harvest

 

 

i think my biggest spending ticket would be travel

[Want to try]

On 3/13/2024 at 9:49 AM, Singroc said:

Frankly, based on the full retirement sum, you only get $16xx per month. Hardly enough unless you live a frugal life.

Someone on youtube said you can get 4600 a month.. Is he smoking something? 

If you have a roof over your head and no morw debts, i think you can get by with 2k a month, assuming you spend 30 a day on food which ia plenty! Transport by mrt or bus is cheap especially when you have a senior card. Household expenses like utilitiea and wifi wont be more than 200 a month. If you travel aay 2 times a year, you budget another 3.5k a year... 

Like you Singroc, you can sing at hine, go bowling, occasionally get someone home to have fun witj6, retirement life is good 👍

[Singroc]

2 hours ago, Want to try said:

Someone on youtube said you can get 4600 a month.. Is he smoking something? 

If you have a roof over your head and no morw debts, i think you can get by with 2k a month, assuming you spend 30 a day on food which ia plenty! Transport by mrt or bus is cheap especially when you have a senior card. Household expenses like utilitiea and wifi wont be more than 200 a month. If you travel aay 2 times a year, you budget another 3.5k a year... 

Like you Singroc, you can sing at hine, go bowling, occasionally get someone home to have fun witj6, retirement life is good 👍

Think $2k is really a stretch. You need to factor in medical expenses too as it’s going to get more as you age.

Also $3.5k for travel twice a year means you can only go nearby countries like SEA or maybe HK/Taiwan/China.

[egal]

with inflation i guess tht is even harder

[Swimfun]

Retirement in Singapore is generally well-supported due to our comprehensive social security system, including the Central Provident Fund (CPF) and Housing and Development Board (HDB) retirement policies.

 

The CPF enables Singaporeans to enjoy a secure retirement through lifelong income, healthcare financing, and home financing.

 

Let’s talk about home financing, since most of us may have invested a large amount of our savings or future monies in housing, whether you are looking for a dream home or an investment opportunity to grow your retirement wealth, the objectives should be the same: to preserve and protect your assets from degrading in value.

 

PM me for more information, if you guys are interested to discuss further on property wealth planning and how CPF and HDB scheme help us to achieve our goal of securing a sustainable retirement income.

 

The key to financial security is making your money work harder for you to outpace inflation.

[bluerunner]

Honestly, it’s too expensive to ‘retire’ without  taking up any job to earn some income. 
Some people will scream at me saying ‘If still need to work, that’s not retire!  Why retire then?’

To me, retire does not mean you must be doing nothing, continue to spend money, and wait to be taken away. 
Retirement to me means, you don’t have to slog and worry about money to pay your bills, and have w enough (very subjective term) to go by. 
For me, I don’t think I’m ready for retirement yet. Simply, money no enough. 

[Balestier]

11 minutes ago, bluerunner said:

Honestly, it’s too expensive to ‘retire’ without  taking up any job to earn some income. 
Some people will scream at me saying ‘If still need to work, that’s not retire!  Why retire then?’

To me, retire does not mean you must be doing nothing, continue to spend money, and wait to be taken away. 
Retirement to me means, you don’t have to slog and worry about money to pay your bills, and have w enough (very subjective term) to go by. 
For me, I don’t think I’m ready for retirement yet. Simply, money no enough. 

Yep ... Take up a less stress  half day job, spend time on yourself.  

[Balestier]

You need to start retirement planning when u are in 20s.

Save more now for your future spending 

[Balestier]

In sg, you will be lucky to die in your sleep. Let's hope won't end up in hospice, ICU or Aged home.

[Swimfun]

9 minutes ago, bluerunner said:

Honestly, it’s too expensive to ‘retire’ without  taking up any job to earn some income. 
Some people will scream at me saying ‘If still need to work, that’s not retire!  Why retire then?’

To me, retire does not mean you must be doing nothing, continue to spend money, and wait to be taken away. 
Retirement to me means, you don’t have to slog and worry about money to pay your bills, and have w enough (very subjective term) to go by. 
For me, I don’t think I’m ready for retirement yet. Simply, money no enough. 

This will be considered as semi-retirement. You might have a bigger appetite, more energy, and interesting dreams now, but when you reach the golden age of retirement, things will change. Luxury expenses will reduce due to loneliness, and your friends, family, and loved ones will pass on. Medical expenses will increase; you'll need either good medical insurance, significant retirement savings, or no savings at all and depend on Medifund for support. Continuing employment will no longer be a choice.

 

As part of Singapore's comprehensive healthcare system designed to provide affordable and accessible healthcare, Medifund helps Singaporean who face financial difficulties in paying for their medical expenses, ensuring that they can still access necessary healthcare services.

[mp440028]

21 hours ago, bluerunner said:

Honestly, it’s too expensive to ‘retire’ without  taking up any job to earn some income. 
Some people will scream at me saying ‘If still need to work, that’s not retire!  Why retire then?’

To me, retire does not mean you must be doing nothing, continue to spend money, and wait to be taken away. 
Retirement to me means, you don’t have to slog and worry about money to pay your bills, and have w enough (very subjective term) to go by. 
For me, I don’t think I’m ready for retirement yet. Simply, money no enough. 

Well said. Retirement isn't about doing nothing. I somehow feel that I am busier as a retiree than when I was employed. Project work, volunteering, and an active social calendar keep me constantly occupied. The great thing about being retired is that you get to choose the projects you want to do, and not have to do the ones you don't want to do. No emails, KPOs, no P&Ls, and no unnecessary calls in the middle of the night from clients.

 

But of course, your lifestyle choices and savings/retirement income stream play a huge part in determining when you can retire.

[egal]

i think medical expenses will be the biggest killer at old age

[appboy]

A&E used to cost $99 then $120. Now $163. 

[Steve5380]

I retired in 1999,  25 years ago, at 56 years of age.  I was already divorced, my kids grown up and perfectly independent.

 

What I most value of retirement is  TO BE THE FULL OWNER OF MY TIME.   I retired with a good estate, and I receive a pension from work and state (Social Security). 

 

In spite of being "well off",  I became addicted to frugality.  I spend less than half my income, and...  I am not sure why ???   I think that it is the result of being raised in a poor family of refugees from WWII.  This has some helpful consequences I am very happy with:

-  I have zero interest in being seen as wealthy.  I like to be "just me",  healthy and still handsome,  yet nothing special.

- I like to make things last:  I am living in a house I bought 47 years ago.  I am driving one car I bought 30 years ago, another 25 years ago, and a third, my "new one", 16 years ago.  I love my grand piano from 1915, which I bought 46 years ago.  My desktop computer, monitor, are about 10 years old.  I do 100% of the repairs of my cars myself, I fix everything in my house, electricity, plumbing, painting, etc.  I take care of my front and back yard, mow, trim, prune. 

- Most of my clothes are old.  Same with my shoes. If the soles detach,  I glue them back on.  

- I am also frugal with food.  I seldom eat at a restaurant, I cook all my meals, I shop with coupons, offers, avoid expensive silly foods,  but above all.... above all... I choose healthy food.  This leaves out about 99% of the food in the grocery stores, all the processed, junk food, all pastries, cakes, beverages alcoholic and not.  I only drink water, tea and coffee.  No smoking, no vaping, no drugs.   No prescription drugs, no over-the-counter drugs, just a few supplements. 

- I have zero debts.  No balances on my credit cards.  No mortgage on my house.  No loans on my cars. 

 

I feel FREE.  I felt the same during the 21 years I lived with my bf.  His passing 6 years ago did not make me more FREE.  My freedom is in my mind, and in being financially independent.  I don't find that I did anything that anyone else cannot do for himself.  If one task is weighting on my mind, it is what to do with my estate so that I don't leave much of it behind.  My descendants are well-off themselves, they don't need my money.  Should I start traveling the world again,  this time as a regular tourist, not as a "sex tourist" at 81 ?  My older sister is coming to live with me soon.  She is frugal too.  We will find something positive to do together.  

[Steve5380]

Some more ideas about retirement.  (  I should have plenty,  I have been retired for 25 years... )

 

The topic of retirement has a lot to do with having children.  An interesting topic for gays who DON'T have them.   There are some exaggerations parents can do with their children:  1) Over-caring and protecting them throughout their life, and 2) Taking advantage of them when old.  This comes from an idea of INVESTING in children for later in life. 

 

I have a son and four grandchildren,  and I often write very proudly about them.  But now, as a Senior...  I see them maybe twice a year, and talk to them a couple of times a year.  They are self-sufficient and so am I.  They exist in my life mostly... spiritually!  If they didn't exist, not much would change, except that I would not have satisfaction, pride, etc. about them.  If I can switch these spiritual feelings about them... to... about myself, which I can, ha ha,  I could be equally happy without them.  

 

So, fellow gays, don't feel that you are missing a lot without children.  But if you have them, there are some wise recommendations:  after they are adults and well educated with good professions,  children SHOULD NOT BE a financial burden on their parents.  And after the parents are Seniors,  they SHOULD NOT LIVE with their children for company and help. 

 

This does not mean that one should be heartless.  We hear so much about Asian families where the parents relegate their lives to care for their children, and children relegate their lives in favor of caring for their loving parents, especially when they are old, sick, helpless!  So much love, so much positive karma !!!  One sees so many elderly in their 60s, 70s, 80s unable to care for themselves, being helped by a child or an institution!   Isn't this sad, SAD ?

 

For childless men who live a long life, the future is bright.  We see in recent times a surge of PREVENTIVE HEALTH self-care that rise the probability to reach old age without loss of functionality.  There is no more this curse that Seniors in their 60s, 70s, 80s and beyond will become disabled and in need of external care.  There is no more this curse that elderly individuals living alone by nature or by having lost a companion will fall into depression and unhappiness due to loneliness.  Modern technology puts the world at our fingertips  (  on the keyboard and the TV remote ) and we can find some entertainment from our couch,  that should not be excessive.  Travel has become cheaper and easier.  And activities with social content are easier to find.  Summing up:  we can be old, live solitary, be 100% healthy... and HAPPY.

[CharlesMKz]

Myself in semi retirement now at the ages of 31 years old. Enjoy life to the max to keybox and tmc with fun in dark room. Not working but weekly earning 2-3k SGD through Singapore Pools on football bets. For example, this morning match Argentina vs Chile match on world cup 2026 qualifiers, Argentina win by 3-0, myself profits $6.3k from SG Pools, why need work so hard. I'm win my current condo with football bets in SG Pools since 2018 till 2022 in many league or world cup. Quite a sum of money win already, SG Pools support my retirement. Wahahaha.

Edited September 6, 2024 by CharlesMKz
Grammar mistakes

[auscent]

Most workers in East Asia spent a bigger portion on work.

 

Less on hobbies, friends outside work. Id say money and solidifying these interests before retirement are equally important. Yes a rich retiree can travel but unlikely 365 days a year. 

 

My retirement plan is to plan to explore new interests/ refresh old ones before actual retirement. Once I have them going strong, working would feel like a chore. Transiting to full retirement should be easier! 

[Steve5380]

On 9/6/2024 at 9:01 AM, CharlesMKz said:

Myself in semi retirement now at the ages of 31 years old. Enjoy life to the max to keybox and tmc with fun in dark room. Not working but weekly earning 2-3k SGD through Singapore Pools on football bets. For example, this morning match Argentina vs Chile match on world cup 2026 qualifiers, Argentina win by 3-0, myself profits $6.3k from SG Pools, why need work so hard. I'm win my current condo with football bets in SG Pools since 2018 till 2022 in many league or world cup. Quite a sum of money win already, SG Pools support my retirement. Wahahaha.

 

Dear Charles,  at 31 you dedicate your life to Keybox, while betting on sports give you the earnings that support your good life.  Will this be forever?

 

You still have 50 years to live  ( half a century )  to reach my age of 81.  Will you pass these 50 years at Keybox, while the money keeps coming in from your bettings?  I have been formally retired for only 25 years, with 16 of them in full retirement with no part-time consulting work.  I fully enjoy my retirement, financially independent and healthy.  But I got here with a real profession, earning my money from serious work. 

 

Are you planning to one day stop Keybox and betting, and instead learn a profession and work?   

[blowmenow]

17 hours ago, Steve5380 said:

 

Dear Charles,  at 31 you dedicate your life to Keybox, while betting on sports give you the earnings that support your good life.  Will this be forever?

 

You still have 50 years to live  ( half a century )  to reach my age of 81.  Will you pass these 50 years at Keybox, while the money keeps coming in from your bettings?  I have been formally retired for only 25 years, with 16 of them in full retirement with no part-time consulting work.  I fully enjoy my retirement, financially independent and healthy.  But I got here with a real profession, earning my money from serious work. 

 

Are you planning to one day stop Keybox and betting, and instead learn a profession and work?   

so serious thought indeed

 

[blowmenow]

On 9/6/2024 at 10:01 PM, CharlesMKz said:

Myself in semi retirement now at the ages of 31 years old. Enjoy life to the max to keybox and tmc with fun in dark room. Not working but weekly earning 2-3k SGD through Singapore Pools on football bets. For example, this morning match Argentina vs Chile match on world cup 2026 qualifiers, Argentina win by 3-0, myself profits $6.3k from SG Pools, why need work so hard. I'm win my current condo with football bets in SG Pools since 2018 till 2022 in many league or world cup. Quite a sum of money win already, SG Pools support my retirement. Wahahaha.

sounds like really good life lol

[CharlesMKz]

On 9/16/2024 at 8:24 AM, Steve5380 said:

 

Dear Charles,  at 31 you dedicate your life to Keybox, while betting on sports give you the earnings that support your good life.  Will this be forever?

 

You still have 50 years to live  ( half a century )  to reach my age of 81.  Will you pass these 50 years at Keybox, while the money keeps coming in from your bettings?  I have been formally retired for only 25 years, with 16 of them in full retirement with no part-time consulting work.  I fully enjoy my retirement, financially independent and healthy.  But I got here with a real profession, earning my money from serious work. 

 

Are you planning to one day stop Keybox and betting, and instead learn a profession and work?   

Hi,thank you for the concerns too. Actually apart of betting & keybox, I'm got stable investments. Fo you know about something called (lobang), haha. Well, I'm know some lobang through some friends. There are lobang that make you rich in every country if you meet certain right people?

 

Btw, I'm sure you no thought of investment with return interests of 10% right? Normally bank only give u 2-3% interests, but then my lobang investment every month return 10% actually. I'm started on 29 years old actually with a sum of sgd 80k all in there, with own money plus borrow from parent. Evern month 10% interests of sgd 8k steadily in my account until currently now. If go work also not sure have 8k salary or not a month lel, mine is without working hard, stable monthly 8k sgd in account equal to im working high ranking jobs already. Its call as lobang. Haha.

Edited September 24, 2024 by CharlesMKz
Everyone have their own secret.

[CharlesMKz]

On 9/16/2024 at 8:24 AM, Steve5380 said:

 

Dear Charles,  at 31 you dedicate your life to Keybox, while betting on sports give you the earnings that support your good life.  Will this be forever?

 

You still have 50 years to live  ( half a century )  to reach my age of 81.  Will you pass these 50 years at Keybox, while the money keeps coming in from your bettings?  I have been formally retired for only 25 years, with 16 of them in full retirement with no part-time consulting work.  I fully enjoy my retirement, financially independent and healthy.  But I got here with a real profession, earning my money from serious work. 

 

Are you planning to one day stop Keybox and betting, and instead learn a profession and work?   

And I'm not showing off ya, I'm just saying everyone have their own secret only. Hehe, with my steady income interests 8k a month, actually I'm invested into business at Malaysia there around KL area, up to now, I'm already have three outlets of Tealive franchise. U know Tealive brand of bubble tea? Quite famous ones, no need to learn profession and work. Be a boss at 31 years old now and semi retire. Have workers work earn for me in my three outlets, will open more soon to go. Especially with my monthly stable 8k sgd equal RM 25k lel. Tht why lobang is important, as long as you meet the right people.

[Steve5380]

4 hours ago, CharlesMKz said:

And I'm not showing off ya, I'm just saying everyone have their own secret only. Hehe, with my steady income interests 8k a month, actually I'm invested into business at Malaysia there around KL area, up to now, I'm already have three outlets of Tealive franchise. U know Tealive brand of bubble tea? Quite famous ones, no need to learn profession and work. Be a boss at 31 years old now and semi retire. Have workers work earn for me in my three outlets, will open more soon to go. Especially with my monthly stable 8k sgd equal RM 25k lel. Tht why lobang is important, as long as you meet the right people.

 

Good for you!  Keep up your investments, don't abuse and be generous!