I don't have 1m but i am already retired 1 year ago. Don't let others tell you how much you need to retire.. Everyone is different. Plan and adjust your expectations.
As long as we have no luxury travelling beyond Malaysia & frequently eat 1 meat 2 veg combi rice from hawker centre frequently then Full Retirement Sum can cover. If retire to Thai, Philip or Cambodia +30-40% more buying power
@@kongakau5058 Actually how much i have is not important.. I have said, everyone is different. You have to know what kind of life style you want and where do you want to retire
I totally agree with your message about being frugal when you are young. I'm in my late 40s and just getting out of this habit. Buy assets that will appreciate. Don't worry about looking rich. Be ready and willing to do manual labor and apply your higher education to get better outcomes. I sell and make cabinets and have an MBA. Starting with a sub $100k USD net worth in my 20s and now in 8 figs USD NW as I near 50. I have friends with lower education with similar results. Do what others are not willing to do. And you can have results only others can dream. Live below your means and make your money work for you.
In order to know how much you required for retirement, the first question is to determine what is the lifestyle you desired, be it transportation, housing, food, travel etc. Then from there it is possible to estimate how much is required together with how much “emergency extra”. Finally work hard towards that goal and be realistic. Remember when we grew older, we might not need the same things and therefore not as much, eg less travel after 75, choose house brands to save or go for cheaper alternatives, no fresh chicken go with frozen etc etc. Don’t work too hard to reach the 1.9mil to find out that you are unable to enjoy the fruits of your labour for one reason or another. Just be happy is most important.
Mr Loo, I agree with the last point. Not controversial, it is a fact. Singapore is really getting too expensive, no matter how much we cut on our spending and no matter how much we save and invest. 😢
I think everyone should live within their means, all countries should be the same! To go to those countries, the person must be rich too, if not cannot even afford an air ticket, and the government there wont welcome this poor person, anyway, good sharing, Mr Loo!
I'm Chinese and living in the US. I think you people in SG are very lucky. You have the option to move a very short distance and retire in JB, or Penang when you retire. Geo arbitrage + still close to friends, family, etc.
@stephenang499 the US is a great place to make money if you are willing to hustle. But, cost of living is high, healthcare system is designed to rip you off and crime is terrible. Make your money in the use and enjoy retirement in SEA.
If u worry about rising cost, then my first question is who did u vote the last election? U get what u voted. As a basic rule, i would say 1.5k per month is enough for average people assuming u have a fully paid hdb. Retiring at 55 and given the average life span of 85, u would need 540k. This is assuming your CPF 2.5% interest rate can offset the inflation rate.
Despite so many rules came out in the last ten years both HDB and private properties..but the result is the price continues to rise... so , it means these rules are not working but can only make it worse. Why? Maybe is the think-tank group that helped developed these measures. I noticed that government always seek opinions from the private property developers and property agences... this is a potential conflict of interest. These rules only help to keep the property businesses . Look at government telling HDB value will go down to zero. This created fear anong HDB owners (80% own HDB, a big potential market) and resulted in the thinking people have to sell and buy properties. FOMO kicks in... Market dictates and of course price will continue to rise. But if government decides to provide pure Public Housing, then price will not rise so fast as it is no longer seen as an investment. The private properties will also not rise as much...
it's tough to accept that sg prices are going up to the point where we'd have to seek economic refuge in malaysia. so need time to absorb this completely.
I was not lucky to plan early before 40 for the family commitment that I had to take care (old generation) from hand to mouth. Now past 60, what I have can keep me going and living reasonably with short trips nearby. However, I still happy. My main concern is the cost of living and medical fee. Even the medical insurance very high as we aged 😢
Hi Mr Loo. Take it from someone who is actually living the idea already. There is nothing controversial with your last point. I am in complete agreement. Cost of living in Singapore currently is certainly not a walk in the park and without doubt, will continue to rise and I cannot see it coming down at all. This will naturally lead to government rebates and goodies that will have to be dished out to help the citizens. Of that - I have no doubt. Planning for retirement early is the absolute best strategy for tomorrows generation of Singaporeans. They have no other choice. For those that can, retirement in another country is honestly the single best option to maximise your savings and dollar - but and this is the really big BUT, our currency strength must be kept strong at all cost for the retirement generation to benefit from retiring overseas. And for that , the powers that be must continue to keep doing whatever they are doing to ensure that our currency strength does not waver for the sake of the citizens and the country. How they go about it, I am in no position to comment on , but the responsibility to keep our currency strong is sacrosanct. Thank you for your efforts with your RUclips channel. Keep it up. Have a great day.
Singapore is really getting expensive, even subsidized medical is going sky high. Subsidized cadio visit just consultation is now at 65 and it was around 40 last year....
Retirement planning starts from education planning. A high salary with near guaranteed retirement is possible if you have the academic results to get into NUS Law or Medicine
You can always upgrade yourself or do side hustle and get 2 sources of income. Plan your retirement and top up cpf comfortably slowly bit by bit to achieve a better retirement lifestyle
Is SG property (primary residence) a consumption OR an investment good? It depends. If one stays in a 3 room flat with short lease, it is a consumption good. If one stays in a FH landed, it's an investment good. So it's a continuum, the closer the person's primary residence is to the top of the pyramid, the more it is an investment good. The closer the residence is to the bottom of the pyramid, the more it is a consumption good. At the top of the pyramid, plenty of ways to downgrade and realise an investment gain. At the bottom of the pyramid, unless you are leaving SG or going to ECP tents, there is no way to sell the primary residence and realise a gain.
The PAP govt deliberately manipulate the Sg economy to be playground for the wealthy and super rich locals and foreigners Sg have lost competitive edge in manufacturing, trade and high employment except for services. Many economic policies and jobs are meant to serve the rich. Average locals are provided with basic subsistence to serve the wealthy. Opposition parties should demolish current CPF as the many changes of the cpf rules are outdated. Restructure a new retirement scheme for the people to achieve a balance life and earnings from the retirement deposits should moderate with current economy.
You forgot inflation is ALWAYS caused by too much cash, easy loans and fomo. Why give knee-jerk reaction when those young youtubers have no experience with 1997 Asian Currency Crisis or were even working during 2008 Global Financial Crisis? Economic crisis come in cycles too and that is the leveller for property and general prices. What matters is live within your means/talents/work abilities and learn to save and invest regularly when you start full-time job.
Important to size your lifestyle right from the beginning and more so do not let it grow further after age 45-50 even though your income may still continue to grow.
I am slight above 40 now and a late bloomer. Start learning investing only recent past years. Based on these situations, retirement sounds far fetched at this moment. Nevertheless, i adapted few of Mr.Loo useful pointers like live frugally, spend within our means. Invest wisely also in ourselves. Try getting into industry in demand and higher paid job.
@1m65 Although I do not 100% agree with all your views, moat o them are very relevant, and I have learnt a lot from your videos. Having said that, I believe that 1.9mil, is not the scary figure, it could be much higher. Also, retirement planning, should start even earlier, as soon as one starts earning income, the earlier the better...
Dear Mr Loo, there are many good points in your video however, I disagree with your statewment that retiring in Sg "can die". You are discrediting Sg [everyone below a "minimum sum" will die?]. Not everyone is well to do, if even after retiring a Car is needed, Condo or higher Lifestyle living is a need, etc... then this is luxury. People with cash can buy any property anywhere they want., BUT do remember who cleans and maintains the property, if sick who takes care of you and how much you have to pay with good healthcare. Being happy and able to live and enjoy winter years with friends, neighbours are more important. Yes inflation has gone up but if you just have good healthy "heartlands hawker" type meals there are OK to me. I do agree your mentioning "prudent" to save and so on. As for me, I started keeping track of my expenses years before retirement and I plan and target a monthly retirement sum that is much higher than my record, excluding luxuries of course. This I believe will get me through my winter years while I make affords to achieve happiness and forget about how much money I have. (similar to what "Lotus Flower" mentioned). I would appreciate if you can give or draft examples to help people with this "99 years" dilemma. I'm sure Sg G has ideas but it's not released yet. But with more ideas contributed and implemented, we will be happier for years to come. Thank you, apologies for "long-windedness". 🙏
There are retirement visas issued in Asia. Thailand, Philippines & Cambodia have similar programs although their requirements are different. These places are slight further than JB but more vibrant.
A trip to any medical social worker office at any polyclinic & hospitals will reveal to us that we are the lucky ones. Expecting 1M65 to even 5 percent of population is HaHa!
With the rts stn coming on in 2026 in JB, there is a very high chance the prop prices around the stn is going to spike. Right now the prices are crossing $1000 psf RM already.
The fallacy with these calculations used by insurance agents and financial consultants is that while you do the math at the age of 30 yo they assume, wrongly themselves too, that at 70yo you will have the same needs and desires to spend, which is totally wrong. All these young ppl who sell financial products are not experienced at all and sell fear. You will spend way far less at 70 than when you are at 30, yes the medical expenses may increase but in our lovely Singapore most of these can be taken care by insurance. You like it or not when at 70 you will not have the urge to travel the world and explore life. That is why, yes do save money BUT learn to live your life NOW, spend money NOW, at 70 will be late and guess what, someone is going to spend that money you saved but it will not be YOU. Most of ppl i have met at the age of 70 and above do not spend because they have nothing to spend it too, there is no urge, there is no motivation. Lesson in there.
Agreed with all your points. One point to add is : choose a high paying job when possible. I started investing rather late, but I maintain the same frugal life style and continue topping up my CPF to the max despite increased in salary. That had enabled me to have options closer to retirement age, ie. Can choose to work part time on less stressful jobs and enjoy life at the same time.
When i hit retirement in a couple of years' time, I will rent out by leasedecayed 5 room hdb for 4k = 13.6K RM . Rent out condo for 2kRM pay instalment for BYD EV for 1.5 K RM and still have 10K RM for two old couples to spend without touching any savings. Take RTS link back to woodlands to see grandkids or anyone during off peak hours and use CPF medisave in 8 approved hospitals, including Gleneagles. Probably drive my retired friends around to go makan in JB. And use BYD Dolphin EV 100K RM to drive into Thailand for even cheaper touring. Let the damn lease decay so what ...milk the cashflow out of it. Going to JB 2x a week to prepare so that it feels like hime when u move there. When you are about to die...kick out the tenant and die in SG.
I will just need 500k to retire. Put it in an ETF that gives 3.5% yield. Without touching principal, i will get 17.5k in dividends yearly. I just need 1.5k/month to survive.
Are you serious? 1.5K/month? Just a meal outside already cost $6 in the food court at least. That’s at least $12 a meal (lunch and dinner). And if you have a car? You have to pay for insurance road tax petrol.. easily another $1000 a month. And what about phone and grocery bills? And medical bills if you fall sick
@@thomaslee6784 noob who ask you to eat outside all the time. My wife and I dont have kids and we spend 120 bucks on groceries, cook ourselves and pack it into small rations for future eating. Thats how you do it. Travel wise we are happy to go to south east asian countries twice a year
@@thomaslee6784 who ask you yo have a car? Singapore already so well connected. You dont need a car in singapore. My transport per month is only 80-100 bucks
Actually, singaporeans got no excuse not to learn to save n invest. But many are entitled and complacent due to comfortable lifestyle. Most teen students don't need to take part-time work after school because 94% of households own their home. No rent to pay, and housing loan is covered by parents' CPF. Most singaporeans start full-time work from early 20s but remain living rent-free under parents' roof until married at 30. Most spend all their wages to show-off, and never even contribute to household expenses.
@@1m65 Not true that children is the great joy. If that is the universal truth, then all people in the world will want to have children. When departure and separation come, pain and misery will ensue.
But for those earning 3 to 4K average its really cost a financial bomb to have children. Happiness and joy can be derived from other ways like travelling. And what if you have a child with disability? Ever considered that?
I don't have 1m but i am already retired 1 year ago. Don't let others tell you how much you need to retire.. Everyone is different. Plan and adjust your expectations.
As long as we have no luxury travelling beyond Malaysia & frequently eat 1 meat 2 veg combi rice from hawker centre frequently then Full Retirement Sum can cover. If retire to Thai, Philip or Cambodia +30-40% more buying power
So how much for you?
@@kongakau5058 Actually how much i have is not important.. I have said, everyone is different. You have to know what kind of life style you want and where do you want to retire
Hahaha thanks for the feature Mr Loo!
I am your fan!
Thanks Mr Loo and Kelvin!
I totally agree with your message about being frugal when you are young. I'm in my late 40s and just getting out of this habit. Buy assets that will appreciate. Don't worry about looking rich. Be ready and willing to do manual labor and apply your higher education to get better outcomes. I sell and make cabinets and have an MBA. Starting with a sub $100k USD net worth in my 20s and now in 8 figs USD NW as I near 50. I have friends with lower education with similar results.
Do what others are not willing to do. And you can have results only others can dream. Live below your means and make your money work for you.
Learn how to go fishing for money... Money makes money... Keep learning and you will find.
In order to know how much you required for retirement, the first question is to determine what is the lifestyle you desired, be it transportation, housing, food, travel etc. Then from there it is possible to estimate how much is required together with how much “emergency extra”. Finally work hard towards that goal and be realistic. Remember when we grew older, we might not need the same things and therefore not as much, eg less travel after 75, choose house brands to save or go for cheaper alternatives, no fresh chicken go with frozen etc etc. Don’t work too hard to reach the 1.9mil to find out that you are unable to enjoy the fruits of your labour for one reason or another. Just be happy is most important.
Ytubers talk nonsense. How many Singaporean can have 1.9 million?
I agree absolutely with "Lotus Flower". Journey of Life is Happiness. 🙏
Mr Loo, I agree with the last point. Not controversial, it is a fact. Singapore is really getting too expensive, no matter how much we cut on our spending and no matter how much we save and invest. 😢
Sadly….
I think everyone should live within their means, all countries should be the same! To go to those countries, the person must be rich too, if not cannot even afford an air ticket, and the government there wont welcome this poor person, anyway, good sharing, Mr Loo!
I'm Chinese and living in the US. I think you people in SG are very lucky. You have the option to move a very short distance and retire in JB, or Penang when you retire. Geo arbitrage + still close to friends, family, etc.
You can always leave the US and come to Singapore and Malaysia, obviously your patch is greener if you remain in the US.
@stephenang499 the US is a great place to make money if you are willing to hustle. But, cost of living is high, healthcare system is designed to rip you off and crime is terrible. Make your money in the use and enjoy retirement in SEA.
@@randomsh-t917 Then you are luckier than people in SG, earn big bucks and come to SEA to retire.
@stephenang499 100% that is the plan. Planning for next year and will have to put my kids into international school.
Thanks for the comment on health - bring weight down and keep healthy! :)😀
If u worry about rising cost, then my first question is who did u vote the last election? U get what u voted.
As a basic rule, i would say 1.5k per month is enough for average people assuming u have a fully paid hdb. Retiring at 55 and given the average life span of 85, u would need 540k. This is assuming your CPF 2.5% interest rate can offset the inflation rate.
Well said Mr Loo! Living here is getting more and more unimaginable hard. Haiz😟
Agree with all your points in this video.
Agree on the cost of living!!
Despite so many rules came out in the last ten years both HDB and private properties..but the result is the price continues to rise... so , it means these rules are not working but can only make it worse. Why?
Maybe is the think-tank group that helped developed these measures. I noticed that government always seek opinions from the private property developers and property agences... this is a potential conflict of interest.
These rules only help to keep the property businesses .
Look at government telling HDB value will go down to zero. This created fear anong HDB owners (80% own HDB, a big potential market) and resulted in the thinking people have to sell and buy properties. FOMO kicks in...
Market dictates and of course price will continue to rise.
But if government decides to provide pure Public Housing, then price will not rise so fast as it is no longer seen as an investment.
The private properties will also not rise as much...
Thanks Mr.Loo for sharing these insights with us!
The COE ridiculous high and never going down ! One car cost at least 200k
it's tough to accept that sg prices are going up to the point where we'd have to seek economic refuge in malaysia. so need time to absorb this completely.
Agree that one should spend within his/her means. Also save consistently n invest wisely to beat inflation.
I was not lucky to plan early before 40 for the family commitment that I had to take care (old generation) from hand to mouth.
Now past 60, what I have can keep me going and living reasonably with short trips nearby. However, I still happy.
My main concern is the cost of living and medical fee. Even the medical insurance very high as we aged 😢
Hi Mr Loo. Take it from someone who is actually living the idea already. There is nothing controversial with your last point. I am in complete agreement. Cost of living in Singapore currently is certainly not a walk in the park and without doubt, will continue to rise and I cannot see it coming down at all. This will naturally lead to government rebates and goodies that will have to be dished out to help the citizens. Of that - I have no doubt. Planning for retirement early is the absolute best strategy for tomorrows generation of Singaporeans. They have no other choice. For those that can, retirement in another country is honestly the single best option to maximise your savings and dollar - but and this is the really big BUT, our currency strength must be kept strong at all cost for the retirement generation to benefit from retiring overseas. And for that , the powers that be must continue to keep doing whatever they are doing to ensure that our currency strength does not waver for the sake of the citizens and the country. How they go about it, I am in no position to comment on , but the responsibility to keep our currency strong is sacrosanct. Thank you for your efforts with your RUclips channel. Keep it up. Have a great day.
Singapore is really getting expensive, even subsidized medical is going sky high. Subsidized cadio visit just consultation is now at 65 and it was around 40 last year....
In the end, it is about the quality of life I want. Simple, contented, or sophisticated. Money is NEVER ENOUGH FOR HUMANS 😢
May i check if the 1m is the cash/CPF/ liquid portion? Cos retire @ 1m net worth is almost certain for everyone has fully paid home.
Yes, good example - (is happened) HDB Geylang Lor 3, big fat zero !!! 😅😅😅
Retirement planning starts from education planning. A high salary with near guaranteed retirement is possible if you have the academic results to get into NUS Law or Medicine
You can always upgrade yourself or do side hustle and get 2 sources of income.
Plan your retirement and top up cpf comfortably slowly bit by bit to achieve a better retirement lifestyle
Is SG property (primary residence) a consumption OR an investment good?
It depends.
If one stays in a 3 room flat with short lease, it is a consumption good.
If one stays in a FH landed, it's an investment good.
So it's a continuum, the closer the person's primary residence is to the top of the pyramid, the more it is an investment good. The closer the residence is to the bottom of the pyramid, the more it is a consumption good.
At the top of the pyramid, plenty of ways to downgrade and realise an investment gain. At the bottom of the pyramid, unless you are leaving SG or going to ECP tents, there is no way to sell the primary residence and realise a gain.
The PAP govt deliberately manipulate the Sg economy to be playground for the wealthy and super rich locals and foreigners Sg have lost competitive edge in manufacturing, trade and high employment except for services. Many economic policies and jobs are meant to serve the rich. Average locals are provided with basic subsistence to serve the wealthy. Opposition parties should demolish current CPF as the many changes of the cpf rules are outdated. Restructure a new retirement scheme for the people to achieve a balance life and earnings from the retirement deposits should moderate with current economy.
You forgot inflation is ALWAYS caused by too much cash, easy loans and fomo. Why give knee-jerk reaction when those young youtubers have no experience with 1997 Asian Currency Crisis or were even working during 2008 Global Financial Crisis? Economic crisis come in cycles too and that is the leveller for property and general prices. What matters is live within your means/talents/work abilities and learn to save and invest regularly when you start full-time job.
Important to size your lifestyle right from the beginning and more so do not let it grow further after age 45-50 even though your income may still continue to grow.
How is it calculated please?
The funny thing is when life tragedy strikes are 1, 2, 3 ,4 ,5 million important . People forget about their priorities and meaning of life
If can loan=7,500,000 Yield=5%
Loan(5 Year)=7,500,000*1.05^5
Loan(5 Year)=9,600,000
Insurans:
Premium=? Yield=12% Year=5
Premium=9,600,000/1.12^5
Premium=5,500,000
Balance=Loan-Premium
Balance=7,500,000-5,500,000
Balance=2,000,000(Debt=0).
Thank you.
I am slight above 40 now and a late bloomer. Start learning investing only recent past years. Based on these situations, retirement sounds far fetched at this moment. Nevertheless, i adapted few of Mr.Loo useful pointers like live frugally, spend within our means. Invest wisely also in ourselves. Try getting into industry in demand and higher paid job.
What do you think of renting a property in JB instead of buying?
Does 1.9 mil include cpf savings? Hopefully not hard cash.
@1m65 Although I do not 100% agree with all your views, moat o them are very relevant, and I have learnt a lot from your videos. Having said that, I believe that 1.9mil, is not the scary figure, it could be much higher. Also, retirement planning, should start even earlier, as soon as one starts earning income, the earlier the better...
whether 1.9M is needed is a BIG QUESTION for a Start. Key is still standard o living we want and when is it. 30 years later ... 1.9M is not big.
Dear Mr Loo, there are many good points in your video however, I disagree with your statewment that retiring in Sg "can die". You are discrediting Sg [everyone below a "minimum sum" will die?]. Not everyone is well to do, if even after retiring a Car is needed, Condo or higher Lifestyle living is a need, etc... then this is luxury. People with cash can buy any property anywhere they want., BUT do remember who cleans and maintains the property, if sick who takes care of you and how much you have to pay with good healthcare. Being happy and able to live and enjoy winter years with friends, neighbours are more important. Yes inflation has gone up but if you just have good healthy "heartlands hawker" type meals there are OK to me. I do agree your mentioning "prudent" to save and so on.
As for me, I started keeping track of my expenses years before retirement and I plan and target a monthly retirement sum that is much higher than my record, excluding luxuries of course. This I believe will get me through my winter years while I make affords to achieve happiness and forget about how much money I have. (similar to what "Lotus Flower" mentioned).
I would appreciate if you can give or draft examples to help people with this "99 years" dilemma.
I'm sure Sg G has ideas but it's not released yet. But with more ideas contributed and implemented, we will be happier for years to come. Thank you, apologies for "long-windedness". 🙏
There are retirement visas issued in Asia. Thailand, Philippines & Cambodia have similar programs although their requirements are different. These places are slight further than JB but more vibrant.
1.9m is small money these days. Inflation is just too high.
Then many Singaporeans going to suffer for retirement
😂
Malaysia is a idea place to retire. It’s near n culture is pretty much the same. Vietnam is another place to consider.
Whichever visa is easier to get
I try to prepare lunch from home instead of buying and above BB Tea^^
Property really does have cycles. But seems like the general population is blinded....
You are right!
A trip to any medical social worker office at any polyclinic & hospitals will reveal to us that we are the lucky ones. Expecting 1M65 to even 5 percent of population is HaHa!
Not enough lah, please safe, we need 3 million.
Great sharing Mr. Loo
Don't simply blind follow all the financial youtubers say, based on fact.
All talk nonsense. Just monetise easy money through Ytube advertising.
1.9mil cash. Does it incl fully paid housing, medical & life insurances?
I believe investment portfolio with return of 5-6% annually
With the rts stn coming on in 2026 in JB, there is a very high chance the prop prices around the stn is going to spike. Right now the prices are crossing $1000 psf RM already.
You kidding…
@@1m65 No kidding Mr Loo. He is so right!
The fallacy with these calculations used by insurance agents and financial consultants is that while you do the math at the age of 30 yo they assume, wrongly themselves too, that at 70yo you will have the same needs and desires to spend, which is totally wrong. All these young ppl who sell financial products are not experienced at all and sell fear. You will spend way far less at 70 than when you are at 30, yes the medical expenses may increase but in our lovely Singapore most of these can be taken care by insurance. You like it or not when at 70 you will not have the urge to travel the world and explore life. That is why, yes do save money BUT learn to live your life NOW, spend money NOW, at 70 will be late and guess what, someone is going to spend that money you saved but it will not be YOU. Most of ppl i have met at the age of 70 and above do not spend because they have nothing to spend it too, there is no urge, there is no motivation. Lesson in there.
I am already hit in the age of 48years old. I am already semi retirement
Staying in singapore for retirement can die hahah i like that statement
Going to rent a condo in jb or melaka...
Agreed with all your points. One point to add is : choose a high paying job when possible.
I started investing rather late, but I maintain the same frugal life style and continue topping up my CPF to the max despite increased in salary. That had enabled me to have options closer to retirement age, ie. Can choose to work part time on less stressful jobs and enjoy life at the same time.
So true it's never too late, i am planning to continue top up cpf and semi - retired at age 55 and pursue hobbies and taking care and family.
@@yeojiacai1993 I wish you success and may your dreams come true !!
With this type of mindset, no wonder singapore pools always long queue
When i hit retirement in a couple of years' time, I will rent out by leasedecayed 5 room hdb for 4k = 13.6K RM . Rent out condo for 2kRM pay instalment for BYD EV for 1.5 K RM and still have 10K RM for two old couples to spend without touching any savings. Take RTS link back to woodlands to see grandkids or anyone during off peak hours and use CPF medisave in 8 approved hospitals, including Gleneagles. Probably drive my retired friends around to go makan in JB. And use BYD Dolphin EV 100K RM to drive into Thailand for even cheaper touring. Let the damn lease decay so what ...milk the cashflow out of it. Going to JB 2x a week to prepare so that it feels like hime when u move there. When you are about to die...kick out the tenant and die in SG.
Well done!
I will just need 500k to retire. Put it in an ETF that gives 3.5% yield. Without touching principal, i will get 17.5k in dividends yearly. I just need 1.5k/month to survive.
Also planning to have 30k emergency cash, and 30k each in bond and gold. Bond and gold to deploy into stocks during bear markets
Lol 500K… I spent over 700K on my 6 year dentistry degree in Australia alone.
Are you serious? 1.5K/month? Just a meal outside already cost $6 in the food court at least. That’s at least $12 a meal (lunch and dinner). And if you have a car? You have to pay for insurance road tax petrol.. easily another $1000 a month. And what about phone and grocery bills? And medical bills if you fall sick
@@thomaslee6784 noob who ask you to eat outside all the time. My wife and I dont have kids and we spend 120 bucks on groceries, cook ourselves and pack it into small rations for future eating. Thats how you do it. Travel wise we are happy to go to south east asian countries twice a year
@@thomaslee6784 who ask you yo have a car? Singapore already so well connected. You dont need a car in singapore. My transport per month is only 80-100 bucks
How to raise $1 million where our large chuck of CPF and cash are in our home?
That’s my point
1.9M for how many people?
Actually, singaporeans got no excuse not to learn to save n invest. But many are entitled and complacent due to comfortable lifestyle. Most teen students don't need to take part-time work after school because 94% of households own their home. No rent to pay, and housing loan is covered by parents' CPF. Most singaporeans start full-time work from early 20s but remain living rent-free under parents' roof until married at 30. Most spend all their wages to show-off, and never even contribute to household expenses.
so no choice got to buy a few dollars toto very week
I Kenna hantam at the 5min-ish mark 😢
Interesting topic 👍👍
That's why better to die
If you have 600k in CPF , you. Can withdraw 2k monthly from 55.
Mr Loo what do you think of SRS? Thanks.
Only useful if you have high income tax
Yes plan early
Work till die
Yes, don't be rude but we can disagree. Like
Yes yes yes
Yes
Hi Mr Loo
first step of the plan, don't have children.
I disagree. Children is the greatest joy in our lives
@@1m65 Not true that children is the great joy. If that is the universal truth, then all people in the world will want to have children. When departure and separation come, pain and misery will ensue.
But for those earning 3 to 4K average its really cost a financial bomb to have children. Happiness and joy can be derived from other ways like travelling. And what if you have a child with disability? Ever considered that?