I give myself $48k per year to spend. Quite comfortable😊. That could become $60k per year in another 10 years with inflation😅. So, $5k a month for young adults is realistic for their retirement in the future.🤞
@@A.Singaporean.Stocks.Investor.actually how to manage finance if you manage to live till age 95 for e.g.? All your money gone and die a pauper? Like how to manage this ah?
I retired at 50 from my active employment when my 2 teenage children were about to go university, and supporting my mother (housewife) too. With careful planning decades ago, I decided to retire and could still live comfortably well into my 90s (longevity?, haha)…Also, at that time, I already had enough savings for both my children to go overseas university if they wanted to, but both decided on local university, saving me hundreds of thousands of dollars. Indeed, spend what you can afford, especially on children - my view is that it’s NOT expensive to raise children in Singapore! Just have to identify and separate their needs and wants (and your own too) which will make the world of difference!
Thanks for sharing! May i humbly ask, what was your liquid net worth (i.e. excluding property) when you retired at 50? You can give a ballpark figure if you're not comfortable with sharing the exact figure.
S3 000 per month shd be more than enough with no more commitment like housing , college(kids) or car loan. Could easily put in 4 times lunch buffet at Shangrila. Of course, you go out only 3 times per week pref. nearby. 2 tours annually nearby. If investment windfall , could hv luxurious tour once in every 4 years.
When spending habits is controlled and monitor, even if your earning increase. We will not have to chase the high spending lifestyle. In long term, the wealth will definitely grow with the right mindset.
To get $5.6 million for most people will be very hard. If you start from nothing, you'll need to invest 60K a year at a 7 percent annual return for 30 years. (Not difficult to get 7% long-term, even the world index gives that). The big question is people raising their income & discipline to be able to save & invest 60k a year.
Not difficult to get 7%? Ask how many people can get it for 30 years. Guarantee less than 5% of people who invest. And a whole bunch of people don’t even invest at all for various reasons
@@MrBluehorizonsugar check out the total world index or the VT index. Since inception (2004), it has returned over 8.5%. It's a market-weighted brain-dead ETF that covers global stocks. It is not difficult to get 7% if you just passively invest for the long-term. Even today, you can lock in 4.7% risk-free for 30 years with US 30-year treasuries.
@@learninvestearnsave the total world index returns 8.5% since inception. Since 1971, gold has returned over 8% from $32 to $2,400 as well. Do the math. Getting over 7% isn't difficult.
Assuming currently in 2024 u r 35 yrs old working adult, livening in HDB, married with 2 schooling kids, u will be able to retire by 65 when ur kids are working adults. If u live till say 90, that’s 25 yrs of retired life & assuming generally good health without acute chronic disease. Retirement expenses will be food, healthcare, utilities, & public transport expenses and a simple life style with say overseas holidays once a yr. So by 2054, ur personal expenses probably at least : meals S$1k/month, healthcare S$1k/month , transport S$100/month, S$5k per holiday trip per yr. Insurance policies premiums say $2k/yr The min annual fund including 20% contingency probably S$40K/yr. For 25 yrs with say 5% inflation, u need at least S$1.05M when u retire at 65 in 2054. If u choose to live a luxury lifestyle, u need to at least triple that.
when you retire 20 yrs later, a cai fan meal with drink will cost easily $10 to $15 and tpt a day will be $8...just like that $1600 gone and it will only increase more. Plus basic entertainments, insurances, give parents, phone/internet bills, red/white matters, how much will then be enough?
I’m leaning towards Kelvin’s approach for retirement planning. Rather than being fixated with the final magic amount needed for retirement, I feel that we’re already on the right track if our savings and investments can generate regular returns or cash flows that are more than sufficient to cover our basic and lifestyle expenses during retirement. It all depends on our lifestyle choices.
@@ypliew07 I believe such a return is usually generated by equity investments, over a long-term period, rather than safe fixed income investments such as T-bills. But again, higher risks are associated with higher returns which may not be guaranteed, and may result in capital losses. It all depends on one’s risk appetite and is safer to take on high-risk investments with what you can afford to lose. Best to do your homework or consult a financial advisor, if unsure, rather than rushing into anything on impulse based on hearsay or advertisements.
@@ypliew07I believe such a high return is usually generated by equity investments, over a long period, rather than safe fixed income investments such as T-bills. Bear in mind that higher risks are associated with higher returns from equity investments, which may not be guaranteed. It all depends on one’s risk appetite and is safer to take on high-risk investments with what you can afford to lose. It is best to do your homework or consult a financial advisor, if unsure, rather than rushing into anything on impulse based on advertisements or hearsay.
5.6 mil where got enough. how to buy 1 hermes bag every day? actually is all abt lifestyle. if you have 3mil, at 3-4% return PA, generate abt 100K per annum should be fine already. in fact most people got 1 mil shld be okie. in fact u can max out your ERS $426,000 next year is all set.
ok sounds legit... less wants = more absolute freedom whereas more tangible wants mean sacrificing previous lifeline to acquire the fleeting wants ie invisibly chained up in slogging or begging for having a job to sustain the atasness feeling.
Will Singapore economy still keep growing? Singapore economy growth is now at its peak. Must factor in the risk of geopolitics in this region and the declining population of a certain xxxx in Singapore. The high cost of living here is not conducive to keep on attracting investors. Ageing population is a burden to our economic growth. Majority of Singaporeans would not be able even to achieve 1m for retirement. Only way to retire across the causeway side.
Cannot take the fade in and out transition, I think these flashing will cause seizure in people with epilepsy ,maybe use the checkerbox fade in and out transition
Actually abt how much to achieve for retirement is a difficult question ....plan too much also meaningless and will make stressful.....might not be able to spend money you had planned for so many years when over 65 years age...especially when sickness come ...hahaha all for kids only ..thats what i know.....even the rich keeps planning and planning ....for more money only ...life is hard for everyone....rich or poor ..life needs to go on ...even without retirement planning
Aiyah what is enough ? What if save save save suddeny die how ? All your effort gone. The one benifit your family. Just enjoy life no money go cdc for help
I really work hard to engage myself in someway of earning more income. My family are happy once again and can now afford anything for my family even with my Retirement.$67k weekly returns has been life changing, after so much struggles.
come on guys. dont be so politically correct, otherwise your podcast will get more lame. He does have aadvantages in networth from parents and no kids, despite others can achieve but with relatively higher effort. lets call a spade a spade
I give myself $48k per year to spend. Quite comfortable😊. That could become $60k per year in another 10 years with inflation😅. So, $5k a month for young adults is realistic for their retirement in the future.🤞
Agreed. 4k per month if single. Comfy leh
@@xfall86 💯💯💯
@@A.Singaporean.Stocks.Investor.actually how to manage finance if you manage to live till age 95 for e.g.? All your money gone and die a pauper? Like how to manage this ah?
@@xxxcool2565 do you know what is AK's networth? he will not run out of money even at 100K a year !
But thats you. Not everyone wanna live like you as well.
I retired at 50 from my active employment when my 2 teenage children were about to go university, and supporting my mother (housewife) too. With careful planning decades ago, I decided to retire and could still live comfortably well into my 90s (longevity?, haha)…Also, at that time, I already had enough savings for both my children to go overseas university if they wanted to, but both decided on local university, saving me hundreds of thousands of dollars. Indeed, spend what you can afford, especially on children - my view is that it’s NOT expensive to raise children in Singapore! Just have to identify and separate their needs and wants (and your own too) which will make the world of difference!
Thanks for sharing! May i humbly ask, what was your liquid net worth (i.e. excluding property) when you retired at 50? You can give a ballpark figure if you're not comfortable with sharing the exact figure.
S3 000 per month shd be more than enough with no more commitment like housing , college(kids) or car loan.
Could easily put in 4 times lunch buffet at Shangrila. Of course, you go out only 3 times per week pref. nearby.
2 tours annually nearby. If investment windfall , could hv luxurious tour once in every 4 years.
When spending habits is controlled and monitor, even if your earning increase. We will not have to chase the high spending lifestyle. In long term, the wealth will definitely grow with the right mindset.
To get $5.6 million for most people will be very hard. If you start from nothing, you'll need to invest 60K a year at a 7 percent annual return for 30 years. (Not difficult to get 7% long-term, even the world index gives that). The big question is people raising their income & discipline to be able to save & invest 60k a year.
Not difficult to get 7%? Ask how many people can get it for 30 years. Guarantee less than 5% of people who invest. And a whole bunch of people don’t even invest at all for various reasons
@@MrBluehorizonsugar check out the total world index or the VT index. Since inception (2004), it has returned over 8.5%. It's a market-weighted brain-dead ETF that covers global stocks. It is not difficult to get 7% if you just passively invest for the long-term. Even today, you can lock in 4.7% risk-free for 30 years with US 30-year treasuries.
As long as they dont invest in gold they will get 7% 😂
@@Longtermalwayswins😱
@@learninvestearnsave the total world index returns 8.5% since inception. Since 1971, gold has returned over 8% from $32 to $2,400 as well. Do the math. Getting over 7% isn't difficult.
Invest as you work. Learn during your free time. S$100 000 cash reserve is the pivot point for wealth creation.
Assuming currently in 2024 u r 35 yrs old working adult, livening in HDB, married with 2 schooling kids, u will be able to retire by 65 when ur kids are working adults. If u live till say 90, that’s 25 yrs of retired life & assuming generally good health without acute chronic disease. Retirement expenses will be food, healthcare, utilities, & public transport expenses and a simple life style with say overseas holidays once a yr. So by 2054, ur personal expenses probably at least : meals S$1k/month, healthcare S$1k/month , transport S$100/month, S$5k per holiday trip per yr. Insurance policies premiums say $2k/yr The min annual fund including 20% contingency probably S$40K/yr. For 25 yrs with say 5% inflation, u need at least S$1.05M when u retire at 65 in 2054. If u choose to live a luxury lifestyle, u need to at least triple that.
when you retire 20 yrs later, a cai fan meal with drink will cost easily $10 to $15 and tpt a day will be $8...just like that $1600 gone and it will only increase more. Plus basic entertainments, insurances, give parents, phone/internet bills, red/white matters, how much will then be enough?
I’m leaning towards Kelvin’s approach for retirement planning. Rather than being fixated with the final magic amount needed for retirement, I feel that we’re already on the right track if our savings and investments can generate regular returns or cash flows that are more than sufficient to cover our basic and lifestyle expenses during retirement. It all depends on our lifestyle choices.
Would like to ask, for a novice investor- just investing in t bills and focusing on CPF, can a monthly return be 7%? Like in Kelvin's case?
@@ypliew07 I believe such a return is usually generated by equity investments, over a long-term period, rather than safe fixed income investments such as T-bills. But again, higher risks are associated with higher returns which may not be guaranteed, and may result in capital losses. It all depends on one’s risk appetite and is safer to take on high-risk investments with what you can afford to lose. Best to do your homework or consult a financial advisor, if unsure, rather than rushing into anything on impulse based on hearsay or advertisements.
@@ypliew07I believe such a high return is usually generated by equity investments, over a long period, rather than safe fixed income investments such as T-bills. Bear in mind that higher risks are associated with higher returns from equity investments, which may not be guaranteed. It all depends on one’s risk appetite and is safer to take on high-risk investments with what you can afford to lose. It is best to do your homework or consult a financial advisor, if unsure, rather than rushing into anything on impulse based on advertisements or hearsay.
Retired from Singapore. Come to Malaysia. U onli need 3mil MYR😂
5.6 mil where got enough. how to buy 1 hermes bag every day? actually is all abt lifestyle. if you have 3mil, at 3-4% return PA, generate abt 100K per annum should be fine already. in fact most people got 1 mil shld be okie. in fact u can max out your ERS $426,000 next year is all set.
$5000 a month per person to retire ? I need less than $2000 a month in retirement.
im not optimistice returns will always be 7%. would be good to see how the spreadsheet does if returns are just 4%
人比人气死人。You live your own life, if you are happy, nothing matters. 量力而为...
说得很对
No wonder TOTO angbao draw always very long queue and singapore pool is one of the most profitable organisation.
ok sounds legit... less wants = more absolute freedom whereas more tangible wants mean sacrificing previous lifeline to acquire the fleeting wants ie invisibly chained up in slogging or begging for having a job to sustain the atasness feeling.
Just go to a neighbour country.
Highly agree
Will Singapore economy still keep growing? Singapore economy growth is now at its peak. Must factor in the risk of geopolitics in this region and the declining population of a certain xxxx in Singapore. The high cost of living here is not conducive to keep on attracting investors. Ageing population is a burden to our economic growth.
Majority of Singaporeans would not be able even to achieve 1m for retirement. Only way to retire across the causeway side.
Cannot take the fade in and out transition, I think these flashing will cause seizure in people with epilepsy ,maybe use the checkerbox fade in and out transition
Damn funny. Now supporting 2 parents 4k+ pm more than enough. If single where got need so much to retire lol
Actually abt how much to achieve for retirement is a difficult question ....plan too much also meaningless and will make stressful.....might not be able to spend money you had planned for so many years when over 65 years age...especially when sickness come ...hahaha all for kids only ..thats what i know.....even the rich keeps planning and planning ....for more money only ...life is hard for everyone....rich or poor ..life needs to go on ...even without retirement planning
5.6 million DONG enough ?
Nice chat!
Think people will start to use debt to 3x, 5x their money
Are these dollar figures in SGP dollars or US dollars?
Sgd
Your podcast is missing kyith Ng
He got more famous for that interview
Which 80 to 20 are not practical for most people
Aiyah what is enough ? What if save save save suddeny die how ? All your effort gone. The one benifit your family. Just enjoy life no money go cdc for help
How many ppl will really 'share' the ways on how they make their money w/out working like a dog?????
Able to share Kelvin’s retirement excel sheet? Thank you
It’s here!
ruclips.net/video/7RQIQonsDKg/видео.htmlsi=A6QxZoBiwCy__uu_
@@bagholderpod Thank you!
why do u need so much to retire... go ktv every week ah.... siao lang
I really work hard to engage myself in someway of earning more income. My family are happy once again and can now afford anything for my family even with my Retirement.$67k weekly returns has been life changing, after so much struggles.
Can i pofma the clickbait title?
come on guys. dont be so politically correct, otherwise your podcast will get more lame. He does have aadvantages in networth from parents and no kids, despite others can achieve but with relatively higher effort. lets call a spade a spade
First
🥇