Singapore Business Review: Singaporeans must save $5,033/mth
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Singaporeans must save $5,033 a month for 'comfy retirement'
That's a whopping 66% of their yearly wage.
According to HSBC's latest study Future of Retirement: A New Reality, in order to live comfortably during retirement, people in Singapore indicate that they will require 66% (or two-thirds) of their current annual household income which works out to be S$60,400 or S$5,033 per month.
This is 68% more than in the last 2011 study where the figure was S$3,000. Singapore’s income replacement ratio, together with Australia (also 66%), is the lowest across 15 countries surveyed where the global average is 78%.
Cash remains a big part of Singaporeans’ wealth portfolio. On what makes up retirement income, the study found that the largest proportion will come from cash savings and deposits which constitutes a third (34%) of retirement income here, followed by investments (19%), and property income and assets (12%).
This reliance on cash to fund one’s retirement income is reinforced by another finding where over two-thirds (69%) of Singapore respondents expect cash savings and deposits to contribute towards their retirement income, followed by life insurance (54%), stocks and shares (37%), and income generated from property (36%).
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How many of you say "Die lah!"?
Kee chiu!
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many singaporean just need to make a decision.. retire out of singapore.. i dun despise them.. they got a valid points.. the hard fact just force them out of singapore.. not fair to blame them, not just one or two ok.. by the bus loads or plane loads ..
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Die liao lor like that :lol:
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Originally posted by Tcsaaa:
many singaporean just need to make a decision.. retire out of singapore.. i dun despise them.. they got a valid points.. the hard fact just force them out of singapore.. not fair to blame them, not just one or two ok.. by the bus loads or plane loads ..
harnor. who wants their children to suffer from poverty next time? Many ppl dun mind working hard. but when thinking of the future generation, one has to be really prudent.
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i prefer tay active old age if my health still permits, just get a simple job on top of any monthly cpf withrawals i can get.. many things i wanna do at old age, and nope it dont require me to have oads of money to do that. of course i will need food, basic neccesities lah.
stay active, retirement is just a phrase. to do it comfortablily we dont need tons of money. to retired in luxury - yes we need tons of money.
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i wish i earned $5033 a month
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damn. gotta sell more underwear. a lot more.
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retirement?
don't think about it
or even forget it totally!
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in our country retire, no lah. for health and mind welbeing its better to at least stay active. dont want jobs going to foreigners also. can work work and move around a little.
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if not dementia sets in, that's it, you are a goner.
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you live your life according to banker's report, you deserve to die!!!
From Lehmen to Goldman, the average americans have seen the faces of financial fat cats in wall street, å¼ å¦å�‹ still weeping for lossing 20 millions (not sure if it is HK$ or US$) in the lehmen saga.
If you have to save so much to retire, where do you put your money? in CPF? of course HSBC lah, idiot!!!
Bankers don't live on their own money, they live very comfy life on suckers money.
decide who you are!
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change gov see can help bo....
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Saved $5,033 a month ?
I don't even saved $5,033 in a year.... or maybe 2....
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Originally posted by Red5xx:
change gov see can help bo....
Maybe our both legs in the wooden box.... it also won't happen....
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Originally posted by Red5xx:
change gov see can help bo....
change boss sure can help.
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expensive coffin issit?
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Retirement in Singapore is impossible without burning a hole in your pocket.
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now saving some $ shd be easier.. our dear govt has help us agian.. the house n car which we need n buy has just gotten out of reach.. no matter how hard try n save also not enough.. so, no chance to spend on house n car.. our dear govt very nice right?
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Yes, it is
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Coffins have a lot of colors
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it only means we must earn alot of money... and reallly alot alot..
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earn a lot does not mean save a lot
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Slog like slaves
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Originally posted by Mr Milo:
Slog like slaves
at the end of the day,
you retire in your HDB