Do you have a retirement plan?
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I am wondering how many people have actually thought about this before?
At what age do you think you can be completely debt free? ie. no more car or housing loan?
And what is your idea job when you are semi-retired? -
depends on my health condition as i age .......
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1) Insurance/investment for payout after reaching 65. I will continue to live in my house (which would be fully paid up by then; along with car etc.).Originally posted by Love Supreme:I am wondering how many people have actually thought about this before?
At what age do you think you can be completely debt free? ie. no more car or housing loan?
And what is your idea job when you are semi-retired?
2) Having a much smaller retirement - when I retire, I will sell my house, and use the proceeds to fund my retirement >> move to a retirement village where there are nurses/staff around the clock to watch over me. Of course if my kids invited me to stay with them I'd be more than happy but I don't want to be a burden.
I'm greatly in favour of (1); more tied down now, but greater financial freedom when I'm old. (2) is like a contingency plan if *TOUCHWOOD*, somewhere along the way the need for funds requires me to deplete what I've set aside for (2).
After I retire, ideally I'll be asked to remain as a consultant in the firm, or else, I don't know .. just do stereotypical old man stuff .. sit around, play chess, keep a couple of stupid birds .. -
yes i plan. but execution is another
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Partial plan in place
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i calculated retirement planning, i think i just wana live when i am earning money.
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why sad? ....... partial plan means u can go into partial retirement liaoOriginally posted by elindra:Partial plan in place -
Actually, what is meant by a retirement plan?
Plans on what to do after you retire? Coz as long as we're working, we aren't retired. -
it is worrying about the futureOriginally posted by Wanda:Actually, what is meant by a retirement plan?
Plans on what to do after you retire? Coz as long as we're working, we aren't retired. -
Hi guys, have you heard about this retirement instrument called "variable annuities"?
This is very popular in the States & Japan.... and from what I can see from our country's demography, we will be overtaking these countries in terms of ageing population per square foot soon.
The Variable Annuities actually gives a Predictable and Guaranteed lifetime income, with a potential of growth as well... -
Originally posted by InnoHippo:why sad? ....... partial plan means u can go into partial retirement liao Good one.
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Err plan only whatOriginally posted by InnoHippo:why sad? ....... partial plan means u can go into partial retirement liao
Plan does not equate action -
waiting for retirement to come first izzit?Originally posted by elindra:Err plan only what
Plan does not equate action -
That will be retirement suicideOriginally posted by InnoHippo:waiting for retirement to come first izzit? -
It is more about financial planning, ie. at what age will be able to enjoy life without worrying about your commitment to the banks and children education.Originally posted by Wanda:Actually, what is meant by a retirement plan?
Plans on what to do after you retire? Coz as long as we're working, we aren't retired.
Personally I would like to be completely debt free when i turn 50 and have enough saving to put my kids through university by 55. After that I would like to take up a part time job doing something which is of interest to me to keep my myself busy. -
I dont think it is worrying, but rather planing for the future, so that you dont get caught with over spending when you are young and left with nothing when you are old.Originally posted by InnoHippo:it is worrying about the future -
WHY are we talking about this during GSS? Can after GSS or not??
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*presses laugh button*Originally posted by choco B:WHY are we talking about this during GSS? Can after GSS or not?? -
With all due respect, we're all adults here (although I don't belong in Club 30) I don't think you're planning appropriately. Unless your intention is to have kids only after you're >35, having enough savings to put your kids through uni by 55 would be a delayed course of action.Originally posted by Love Supreme:It is more about financial planning, ie. at what age will be able to enjoy life without worrying about your commitment to the banks and children education.
Personally I would like to be completely debt free when i turn 50 and have enough saving to put my kids through university by 55. After that I would like to take up a part time job doing something which is of interest to me to keep my myself busy.
Also, with increased lifespans, and a greying population (with the exception of developing countries), the expectation is that most of us won't retire until at least 65. Experience especially is key in certain sectors; many law firms have consultants you have been in practice for >40-50 years .. now that they are old men/women, they don't practice anymore but their advice is often sought. Not to mention in the case of CEOs or management position execs, "official retirement" is only the next step forward - i.e. moving from a paid monkey, to one that sits on a Board somewhere.
Retire too early, you might find yourself high and dry long before you're due for expiry. -
the more we spend during GSS, the more we save .......Originally posted by choco B:WHY are we talking about this during GSS? Can after GSS or not??
GST hike is coming right after GSS
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Hehe your wife/ girlfriend (pardon me, I don't know your marital status) must be so proud of youOriginally posted by InnoHippo:the more we spend during GSS, the more we save .......
GST hike is coming right after GSS -
sure or not ...... after GST hike, strictly no spendingOriginally posted by choco B:Hehe your wife/ girlfriend (pardon me, I don't know your marital status) must be so proud of you
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I think you have missed the point here. What I am saying is that by 55 years old, i should have enough saving to put all my children through university regardless of their age. That doesnt mean that I will only start saving for my children's education after paying off the mortgage at age 50.Originally posted by rmyfrm:With all due respect, we're all adults here (although I don't belong in Club 30) I don't think you're planning appropriately. Unless your intention is to have kids only after you're >35, having enough savings to put your kids through uni by 55 would be a delayed course of action.
Also, with increased lifespans, and a greying population (with the exception of developing countries), the expectation is that most of us won't retire until at least 65. Experience especially is key in certain sectors; many law firms have consultants you have been in practice for >40-50 years .. now that they are old men/women, they don't practice anymore but their advice is often sought. Not to mention in the case of CEOs or management position execs, "official retirement" is only the next step forward - i.e. moving from a paid monkey, to one that sits on a Board somewhere.
Retire too early, you might find yourself high and dry long before you're due for expiry.
The issue here is not about weather I will choose to retire at 55, but rather can I afford to retire at 55, ie. being completely debt free and live life without any financial worries. -
You remind me of Rebecca Bloomwood from Confession of a Shopaholic.Originally posted by InnoHippo:the more we spend during GSS, the more we save .......
GST hike is coming right after GSS -
Don't think too far; just live for the moment.Originally posted by Love Supreme:I am wondering how many people have actually thought about this before?
At what age do you think you can be completely debt free? ie. no more car or housing loan?
And what is your idea job when you are semi-retired?
This world is coming to an end - December 21, 2012
To live freely without having the need to service housing loan and pay monthly utility bills, be like the Japanese folks. They live in portable cardboard cubicles.