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Can u retire in SG with 100k?

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  • Catknight
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    2,075 posts since Oct '07
    • 14 May `08, 3:44PM

      For most sporeans now saving 10k is a feat and most ppl here won't make it to a million mark either..but 100k seems reasonable for a middle class family to save up...so is it possible to do it?

       

  • Ferret
    Certified Auntie Killer
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    35,451 posts since Jul '00
  • noahnoah
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    5,112 posts since May '06
    • 14 May `08, 3:46PM

       

      retire in sg with 100k?

      dun think so

      unless your house is fully pay off

      frankly speaking 100k to a lot of ppl is nothing much now

       

  • QX179R
    EMERGENCY AMBULANCE
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    10,096 posts since Feb '08
  • kaeden
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    750 posts since May '06
  • Catknight
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    2,075 posts since Oct '07
    • 14 May `08, 3:48PM

      alamak then how leh...no retirement fund means work till death ..worse than PRC senior citizens still can sip tea and play chess in Guangzhou..no need to work as plate collectors

  • cuddles
    the male yellow bunny
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    1,639 posts since Dec '04
    • 14 May `08, 3:49PM

      I think if you pay flat together with saving, by the time of retirement, maybe flat pay finish, and you get that amount as savings..

      live simple sure can, and low profile don't let people know lo.. if not the young things come find you and that's it..

  • Catknight
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    2,075 posts since Oct '07
  • Queen of sgForums
    FireIce
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  • lenore
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    579 posts since Mar '08
    • 14 May `08, 3:51PM

      if you live frugally and you're fit, everything is paid for already like house, if there's kids and the kids have all grown up already and are independent, then i think yes 100k is enough.

  • gigabyte14
    gigabyte14's Avatar
    17,909 posts since Jul '06
    • 14 May `08, 3:51PM

      wait for real madrid to be 10+ ahead of the 2nd in position

      den put all ur money in

      sure win

  • elindra
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    42,721 posts since Jun '04
    • 14 May `08, 3:53PM

      With my current living standards..... No

      If I want to compromise on my living standards by a lot ...... Yes

  • Catknight
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    2,075 posts since Oct '07
  • cuddles
    the male yellow bunny
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    1,639 posts since Dec '04
    • 14 May `08, 3:57PM

      if you got that 100k in spare cash savings.. and it's for yourself, you're good to go.. provided you don't gamble a lot on 4D, toto, horse, etc.. can put in bank earn interest then live on the interest lo.. :)

      after setting aside around 30k for grand funeral.. maybe not enough.. :P

  • lenore
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    579 posts since Mar '08
  • cuddles
    the male yellow bunny
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    1,639 posts since Dec '04
    • 14 May `08, 3:59PM
      Originally posted by Catknight:

      After 100k gone and u still healthy and alive..then how..??


      then it's time to go back to society and work. kio some cans or what. last resort, exit this world with a bang at train stations.

  • Exige60
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    576 posts since Dec '07
    • 14 May `08, 11:21PM

      depends on ur job but for most ppl, it is possible and quite easy...but face the obstacles such as ERP, taxes, bills and Blah

  • alwaysdisturbed
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    5,947 posts since Apr '03
    • 14 May `08, 11:33PM
      Originally posted by Catknight:

      For most sporeans now saving 10k is a feat and most ppl here won't make it to a million mark either..but 100k seems reasonable for a middle class family to save up...so is it possible to do it?

       

      i thought someone said 40% of the people here will become millionaires.

      just hope you are one of the 40%.

  • pigsticker
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    2,889 posts since Jan '08
  • maurizio13
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    11,131 posts since Sep '06
    • 14 May `08, 11:38PM

       

      depends on how long you want to live after retirement.

      at 3% interest rate with $1,000 withdrawal a month, can last you approximately 10 years.

       

       

  • browniebaobao
    browniebaobao's Avatar
    28,565 posts since Mar '03
    • 14 May `08, 11:39PM

      10k is a feat? 

       

      erm... i think in sg hor.. if u dun have S$1m at retirement, the rest of ur life v hard to pass by.. why S$1m?  use ur cpf savings and do a simple claculation.. u will know ur cpf payout wun help much when u are old.

  • pigsticker
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    2,889 posts since Jan '08
    • 14 May `08, 11:41PM

      that's why i always say.. enjoy life to the fullest 5-10 years after retirement, then find a way and die....

      cut the old age, illness and diseases out of your life...

  • Lorry`
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    4,992 posts since Oct '05
    • 14 May `08, 11:45PM

      very much depends on how you lead your lifestyle.... and also do you still have any houses not fully paid?

      you can retire and lead a simple life - porridge, bla bla

      or retire and lead a angel.png life - travel very often, materialistic stuffs.

  • vincentchean
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    874 posts since Jan '03
    • 15 May `08, 12:36AM

      if u no need support wife or anione else.

      and don't need pay ani loan or wat.

      assume that u got no chornic disease and no terminal illness

      i think that sum can last from 65 to 75 yrs old.

      just don't ani how spend

      Edited by vincentchean 15 May `08, 12:37AM
  • mancha
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    3,023 posts since Sep '04
    • 15 May `08, 1:54AM

      If you pay yourself $1000 every month with that money it would last about  8 years, 4 mts, may be 9 years with interest and thrift.

      At 85 years of age that would be enough to retire.

      But at 45, that is not enough.

      All this assuming you are not hit by disasters, like cancers or defamation suits.

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