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Thread: Retire at 65??

  1. #61
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    Default Re: Retire at 65??

    Quote Originally Posted by dreaming View Post
    how can one's assume one's is medically fit to work till 62(65) and, by that assumption, withholding the retirement funds till then? the era that when you reach 55 and call it quit, and can draw money out for food and lodging is over.. from 55 to 62(65) it is grey period.. you better pray that you can work and nothing happen to you...
    When you have a lump sum of money, chances are a large part will not go towards your retirement. You will have friends and relatives wanting to borrow money. You children will be asking for help to upgrade their house, cars, travel plans. The foreign xmm will be throwing themselves on you. Just to name a few.

    So it is not about whether it is 55 or 65. It is about when you really need the money for yourself. I don't know. But say for instance you have a stage 4 cancer. I am sure you can go ask CPF for your money to spend lavishly. But would you have the mood to do so. You probably would leave the money for your love ones.
    Last edited by ManWearPants; 23rd December 2013 at 05:38 PM.

  2. #62
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    Default Re: Retire at 65??

    Quote Originally Posted by d2xpeter View Post
    Ya agree. But for this to be effective, the weeding should be done earlier, not till 50
    Yes, it is akin to having top brains have more babies and farmers have lesser. Gradually over time, the population would be more intelligent. Unlike animal breeders who cull early to reduce cost, humans can only allow the genes to mutate over time. So while doctors are saving lives, they are also allow bad genes to continue to exist.

  3. #63

    Default Re: Retire at 65??

    Quote Originally Posted by ManWearPants View Post
    When you have a lump sum of money, chances are a large part will not go towards your retirement. You will have friends and relatives wanting to borrow money. You children will be asking for help to upgrade their house, cars, travel plans. The foreign xmm will be throwing themselves on you. Just to name a few.
    good pointer


    Quote Originally Posted by ManWearPants View Post
    So it is not about whether it is 55 or 65. It is about when you really need the money for yourself. I don't know. But say for instance you have a stage 4 cancer. I am sure you can go ask CPF for your money to spend lavishly. But would you have the mood to do so. You probably would leave the money for your love ones.



    so at 55-65, although old enough to be senior citizen, we are as gullible as small boy. china woman cheats, goldbar cheats, lottery cheats, loan cheats

    CPF minimum sum, it ain't a bad idea after all


    PS. I reserved the rights to change my opinion

  4. #64
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    Default Re: Retire at 65??

    Interesting theory. Instead of natural selection, this is forced selection. LOL

    Man, there are so much to talk here in kopitiam that i can talk whole afternoon. Need to charge battery liao

  5. #65
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    Default Re: Retire at 65??

    Quote Originally Posted by dreaming View Post
    good pointer





    so at 55-65, although old enough to be senior citizen, we are as gullible as small boy. china woman cheats, goldbar cheats, lottery cheats, loan cheats

    CPF minimum sum, it ain't a bad idea after all


    PS. I reserved the rights to change my opinion
    And the biggest cheat of all is? The mother of all cheats? You guys should know by now.LOL

  6. #66

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    Just realised I already met the Min Sum requirement in OA and SA.... but age is far from retirement.

  7. #67
    Moderator diver-hloc's Avatar
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    Default Re: Retire at 65??

    Quote Originally Posted by donut88 View Post
    Just realised I already met the Min Sum requirement in OA and SA.... but age is far from retirement.

    No Mortgage ??

    Scuba & Father... For Life

  8. #68
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    Default Re: Retire at 65??

    Don't Cheat Papa's Fund. LOL

  9. #69

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    Quote Originally Posted by diver-hloc View Post

    No Mortgage ??
    Got mortgage, but current monthly contribution are paying off the instalments. So no worries about it.
    Anyway, I'm staying in the most sought after area. Market value is nearly 3 times of my outstanding loan

  10. #70
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    Default Re: Retire at 65??

    So what are you going to do if you retire at 50?

  11. #71
    Senior Member edutilos-'s Avatar
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    Default

    Quote Originally Posted by ManWearPants View Post
    So what are you going to do if you retire at 50?
    I think we will see 8000 new threads in CS kopitiam everyday.

  12. #72
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    Default Re: Retire at 65??

    Quote Originally Posted by edutilos- View Post
    I think we will see 8000 new threads in CS kopitiam everyday.
    If you are aware, Brainstorming is a good management tool to harvest ideas. And one of the rule during the initial sowing process is not to limit seemingly crazy ideas, and to generate as many as possible till yr mind exhausted.
    But anyway, thkq for the reminder.

  13. #73
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    Default Re: Retire at 65??

    Quote Originally Posted by ManWearPants View Post
    So what are you going to do if you retire at 50?
    As mentioned, one must cultivate some hobbies before retirement. And if these hobbies can generate revenue after retirement, is a added bonus.
    Also, we must treat our job as a tool, a means to an end. Not the end itself.
    Not many of us has the good fortune of having a job that is our hobby too.

  14. #74

    Default Re: Retire at 65??

    Quote Originally Posted by ManWearPants View Post
    So what are you going to do if you retire at 50?
    I'll keep wearing pants..
    Its a hard question to ponder. For me, I'm still far from retirement age, and from now till then, quite a lot of things can happen.

  15. #75
    Moderator diver-hloc's Avatar
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    Default Re: Retire at 65??

    Quote Originally Posted by ManWearPants View Post
    So what are you going to do if you retire at 50?

    Assuming that I have the wealth...

    * Travel
    * Voluntarily Work
    * Charity work
    * Part time job doing things I like

    I do dream of teaching underprivileged kids in 3rd World Countries how to Scuba Dive... teaching them to love their underwater environment... and a job as dive leader and bring tourist around...

    Scuba & Father... For Life

  16. #76
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    Default Re: Retire at 65??

    Suggest be a superhero and ride the storm. LOL. Like our musketeers friends?

  17. #77

    Default Re: Retire at 65??

    After you officially "retire", the most important things will be:
    1. Health
    2. Family and relatives
    3. Friends
    4. Interests and hobbies

    Generally speaking, these will be less needed:
    1. Sex (the mind wants, the body can't)
    2. Money
    3. Drinking
    4. Gambling
    5. Status/Power
    always the Light, .... always.

  18. #78

    Default Re: Retire at 65??

    Quote Originally Posted by diver-hloc View Post
    My own personally take... on this Retirement Issue is this...

    Therefore, WEALTH is what enable you to retire... not age.
    Yes this statement I agree with you totally

    If I hit the JackPot $ Prize one of these days can call it quits now.... immediate

  19. #79
    Senior Member Big Kahuna's Avatar
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    Default Re: Retire at 65??

    This is a serious topic and with the escalation of living standards and no sign it's backing down, it's a norm for Singaporean struggling to build up the nest egg so that we can retire with "dignity", you see reason why the property accross the causeway is booming? Many fellow Singaporean already hedging for investment or for retirement.

    Lets do a simple math

    1. Get a reasonable condo or house in JB, RM1m (SGD400k) - some studio went as low as RM300~400k but the rule of foreigner eligibility keep flip flopping, unless you buy one in Medini with no restriction
    2. Get a decent sedan cat at RM100K (SGD40k) - Brand new Toyota Vios selling at less than RM100k, and Merz A200 AMG going for RM300+k, so YMMD
    3. Monthly expensese RM5k (SGD2k) - Eat out RM50/day only cost you 1500, so the other 3500 is for household, groceries, utilities and maintenance. A retired couple with CPF minimum sum can easily covered part of this cost
    4. Medical is much cheaper compared to SGD - Some like Columbia hospital and upcoming Glen Eagle can use Medisave.
    5. Most SG family own a HDB so it can either sublet the room or sold it off for a few hundred K to cover part of the cost above
    6. Get your self proper health and life insurance coverage - many mid life Sgporean should or at least have one each.
    7. If you have teenage child and can't make it to local U, there are a few U at EduCity, the schoold fees should be cheaper than SG campus.
    8. On and off come to Singapore for Orchard road shopping or relative visiting

    How wonderful was that?

  20. #80

    Default Re: Retire at 65??

    MM famous quote 'And at the stroke of a pen they can take it over'

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