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It seems that in SG it is difficult to retire peacefully. because routines and needs seem to always work. or maybe if have enough to settle in another cheap country. because for employees like me it seems like they have to continue working. and maybe really retire when the body is no longer able to work and live simply
Agree. I been trying to plan for retirement since my 30s but now on my 40s, I still struggling to keep up with inflation. And what's sianz is that now too old to try for emigration to ang moh countries
Agree. I been trying to plan for retirement since my 30s but now on my 40s, I still struggling to keep up with inflation. And what's sianz is that now too old to try for emigration to ang moh countries
everything can't be 100% according to plan bro. For example, during Covid , even though you had prepared savings for the future, you were forced to use the money. And when you returned to normal work after Covid, it was like collecting money from 0 again, so the retirement you had imagined had to be erased. and go back to just living the day without the thought of retirement. 1 day at a time. that's what I do. although still hoping that all the hard work now can allow me to have a good retirement
It seems that in SG it is difficult to retire peacefully. because routines and needs seem to always work. or maybe if have enough to settle in another cheap country. because for employees like me it seems like they have to continue working. and maybe really retire when the body is no longer able to work and live simply
Because at the end of the day, retirement of citizens to a country is not a good thing. Esp when there is alot like in aging population SG. The country not only lose productivity, labour they also need to foot the healthcare bill for elderly through subsidised med and gov hospitals. So countries try their best not to allow too many citizens to retire.
Because at the end of the day, retirement of citizens to a country is not a good thing. Esp when there is alot like in aging population SG. The country not only lose productivity, labour they also need to foot the healthcare bill for elderly through subsidised med and gov hospitals. So countries try their best not to allow too many citizens to retire.
True la, but maybe the key is to redefine retirement- that ppl can still be contributing but don't need to chiong so hard just for survival. At least that's my own goal for now, trying to spend lesser or within budget.
The government should aim to move to that level, closer to the Scandinavian countries model
True la, but maybe the key is to redefine retirement- that ppl can still be contributing but don't need to chiong so hard just for survival. At least that's my own goal for now, trying to spend lesser or within budget.
The government should aim to move to that level, closer to the Scandinavian countries model
True la, but maybe the key is to redefine retirement- that ppl can still be contributing but don't need to chiong so hard just for survival. At least that's my own goal for now, trying to spend lesser or within budget.
The government should aim to move to that level, closer to the Scandinavian countries model
Which the gov is doing by increasing retirement age. Chiong or not is technically up to you. You can find a less stressful job like security guard in your twilight years, if that's what you want.
I would avoid scandinavian model because their model involves taxing the young and productive to the max (up to 50% tax rate) to subsidize the older folks. This would cause the ypunger folks to just leave and seek employment elsewhere
If you have a flat and fully paid. Rent out and travel to Vietnam, thailand and Malaysia for long term stay. Rental shld be able to comfortably cover the stay in those countries.
If you have a flat and fully paid. Rent out and travel to Vietnam, thailand and Malaysia for long term stay. Rental shld be able to comfortably cover the stay in those countries.
Yup that's my plan. But somehow i think the gov will not allow this rent seeking to continue in the future. Coz young strawberries these days complaining resale flat are expensive and hard to get since alot of older folks are are renting out their flat.
Yup that's my plan. But somehow i think the gov will not allow this rent seeking to continue in the future. Coz young strawberries these days complaining resale flat are expensive and hard to get since alot of older folks are are renting out their flat.
I don't think we need to worry too much in this aspect, as there will always be about 30% non-citizens and PRs that either need to rent or buy private. And this number of people will like go up. BTW young gens may not be keen on >50 years old flat. HDB just need to build more for them in popular estates.
I would avoid scandinavian model because their model involves taxing the young and productive to the max (up to 50% tax rate) to subsidize the older folks. This would cause the ypunger folks to just leave and seek employment elsewhere
We are not using the Pay as You Go pension system where the sandwich generation takes care of the retirees. Neither are we using the defined benefit method. China's 养老金 is doomed to fail in the mid-2030s as they made wrong assumptions in their projections. Their people are living longer and the investment returns from the Chinese companies are much lower now.
We are in a hybrid situation where each cohort turning 55 sets aside their own set of CPF Life. Each set of CPF life is run like a separate fund. The tax burden also shifts to indirect taxation like GST. While there are still no capital gains tax or estate duty, a tax (stamp duty) is charged if properties are transferred to beneficiaries who own properties.
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I don't exchange points. So no point adding me hoping I will up you back. No need to pm me about points too.
01-05-2024, 10:17 AM
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