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Retirement Planning
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WLBO_BB
Master |
06-Feb-2010 22:38
Yells: "Warren Look Before Others _ Buffett Best " |
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wan to have fun but dun wan to have baby??? have baby more fun than only the process...
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kellychang
Master |
06-Feb-2010 21:20
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i am poor people, cant afford to have one .... u rich people, can afford to have more babies.. u go boost up singapore population la! hehehehe :)
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Livermore
Master |
06-Feb-2010 21:14
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No wonder not enough babies in Singapore *ha* .
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kellychang
Master |
06-Feb-2010 21:11
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i never think to want any kids... dunno this is consider good or bad things to me leh...
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Livermore
Master |
06-Feb-2010 21:05
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Here is the reality. Some Singaporeans would find they have no choice but to continue working till they cannot work any more. Why do you think it is being planned for companies to employ workers at 62? If companies decide not to employ you at 62 and there is a one time payment, that payment would not be enough to last you till your old age. Don't depend on work as one option to get income. One day when work is taken away from you, you are stuck. Those who have families will understand what I am trying to say next. The reality is quite a number of families just are not saving enough. I have a friend with 2 children and really not much savings. Whaty he earns every month is almost all spent on family expenditure. The incredulous thing is young couples out there think that a combined family of $8k is a lot of money. Take out your calculator and do your sums and you will find that if you want 2 children, don't do any investment and you buy a expensive property (as your supposedly family income qualifies you), you find in reality $8k is not a lot. You won't have much savings. To raise a child from start to univeristy could easily cost $200k. |
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kellychang
Master |
06-Feb-2010 20:51
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well, if earn 5k per mth. after cpf deduction, still can save ard 3k per month. dun own car. live in frugality.. well, i am 27 this year... am i consider normal? or a failure? |
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Livermore
Master |
06-Feb-2010 20:18
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In Straits Times article "Asia at 'epicentre of ageing crisis" on 2 Feb, 2010.
Life Insurance Association's deputy president, Mr Tan Hak Leh said that many Singaporeans are not doing enough to plan for retirement and do not know how much to save - that is, if they save at all. In a poll, 91% of respondents here do not know how much they will have when they retire. The survey also indicated that many Singaporeans have a very short term view of their finances. Mr Tan said," Singaporeans are still focussing on practical short term finances rather than on retirement needs that call for disciplined savings and investments over a span of 20, 30, 40 years." This means that more needs to be done to increase consumer awareness of the importance of having proper retirement planning. The ageing problem has led both governments and employers to take action to try to keep people working longer. CPF Life provides only basic level of income and is unlikely to be sufficient. Ageing people will also face higher cost of retirement due to potentially high inflation. Old age often brings poor health and higher medical costs
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