Is $1.5M Enough For Retirement In Singapore 2024?

[@joshconsultancy]

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[@FoodieWarrior]

$1.5m if excluding residential property value, is enough for retirement.

[@CatherineCarol]

Achieved $1.5 mil excluding residential properties. I guess its sufficient by your standard

[@FoodieWarrior]

@@CatherineCarol I’m a simple man with simple needs.😌

[@steventay5834]

@@FoodieWarrior $1.5m is definitely enough. You can go on holiday too.

[@Phonedumb]

@@FoodieWarrior I guess if you're 75 and have that, it will be fine. Not when you're 40 😛

[@FoodieWarrior]

@@steventay5834 Yup, $1.5m portfolio with dividend yield of 5% will generate $75k in annual passive income. That’s more than $6k per month. Pretty decent.

[@Mike-e1n]

I have my own stay residence fully paid 1 condo fully paid 1 left with 40% loan Park excess cash into TBill and SSB No stock No dividends CPF plan for ERS. hopefully is enough for retirement in few years time.

[@joshconsultancy]

Would there be too much concentration in real estate?

[@alexy7656]

should try to work on passive businesses. Attain 20% yield. 1.5M is sufficient to generate 5 figure passive income on a monthly basis if correctly deployed.

[@joshconsultancy]

Any suggestions or detailed case study on it?

[@R6ex]

As long as CPF hit ERS and got enough $$$ to survive till 65 ... can retire liao ..... for me, at least ..... 😅

[@joshconsultancy]

Thats for from age65. Need to tackle the years before

[@randomterror7]

1.5m liquid investments/cash with no home or car mortgages is enough if you are in your 60s today.

[@fanlee6560]

Some ppl if you ask this qns, they thinking stay GCB, like that maybe $80mil also not enough 😆but how many earn this money? I think $1.2mil for modest living is enough also. Profile, single, a little below 40, not working last 2 years already, as not easy to find work that one likes eg.not dragged through day after day. eg. house (bto fullly paid) maintainance, car (fully paid) maintainance those, can eat good food and annual holidays those, . parked 90% in dividend. Though can feel fear in uncertainity eg. if the dividend shares drop to 10/20% value. or any unforseen scams, now all digital a bank staff can tweak your divendend to money losing investment without you knowing, and such.

[@joshconsultancy]

Early retirement? 👍

[@kevin-4507]

Am 57 retired and debt free but will obviously need income for retirement. Would it then be prudent to invest $1.5m in SG stocks and REITS yielding an average of 5% pa (and tolerate drawdowns) as well as bonds averaging 3.3 to 4% in say a 60:40 ratio? Leaving it in CPF at 2.5% seems untenable. Would it be better to deploy all at once or DCA?

[@joshconsultancy]

Bonds depends on what kind, SSB is guaranteed at all times and liquid. Unlike corporate bonds. ReiTS depends on whether you're familiar with it and are comfortable with the investment volatility. CPFOA 2.5% yes i agree. Do view - CPF going to see BIG OUTFLOWS in 2025? Consequence of NO MORE CPF SPECIAL ACCOUNT after age55 kzbin.info/www/bejne/bojKXoGHqpqkfcUsi=T_UeBBnpCMWd7lL9

[@steventay5834]

If you are 65 without debts, $1.5m is more than adequate. The interest earned from my savings plus monthly CPF payout is sufficient for me. When I die, all my savings will go to my child

[@joshconsultancy]

Agree. Having enough is a v good situation to be in =)

[@steventay5834]

@@joshconsultancy I have more than enough.. unfortunately my health deteriorates.

[@cathhl2440]

I’ve decided not to retire fully, ever. Unless my presence actually hinders the progress of the company, I will continue to work. And of course, this will be work that I’m enjoying and can ‘do without’.

[@joshconsultancy]

Happy for you =)

[@JamesDeanDiedIn1955]

1.5m is way more than enough to retire in JB with a reasonable luxurious lifestyle and its cheap to rent. Please keep in mind, once the retirement fund is drawn down, would be very difficult to move back to Sg Also, the older we get, the less things we can do. Eating, drinking, golf all are reduced and lesser cost of living.

[@joshconsultancy]

Valid points raised

[@kevinlai6851]

$1.5M SGD is over USD$1M (assuming this is liquid net worth and not tied up in residence). According to many google-able sources, Less than 1% of the world has that. and Locally, less than ~6% of Singaporeans have that. For those who say 1.5M sgd cannot retire, then 99% of the world or 94% of Singaporeans cannot retire??

[@joshconsultancy]

Locally, less than ~6% of Singaporeans have that - may be an underestimate or outdated even without residences. But yes agree 1.5m can go a long way for retirement

[@fanlee6560]

Singapore is good already, at least got HDB gao dim the staying part. Then if working 20 years or more, CPF dont touch, later 55 can still take out a few hundred k. actually working time, all my other colleagues 40^ got more than $1mil net esp married ones even faster duo income, they own 5rm hdb and can buy condo for investment. $1.5mil for single or duo should be good lah, can take holidays, buy rolex those. but if got serious medical condition (I hear some cancer drugs Avastin cost $10k a mth), then maybe is die lor..

[@jlin995]

@@joshconsultancy Such official statistics usually only consider investible assets, which in this case it is a believable figure. Mind you, 6% of Singaporeans is about 200k, which is a big figure.

[@miniconplay]

$1,500,000 X 0.04 = $60,000 enought liao la..... can start retiring now.

[@joshconsultancy]

👍👍

[@DonYang73]

After so long still, discussing this? 😂😂 50 this year. Retired. Josh has my full details.

[@joshconsultancy]

unverified yet unfortunately 🙏

[@DonYang73]

@@joshconsultancy verify? how? nevermind , dont bother. enjoy life

[@Phonedumb]

1.5mil is my retirement target too.... but i'm 57 😅

[@joshconsultancy]

You're fine no worries =)

[@cryptot8531]

NO. Not even USD$5m is enough.

[@joshconsultancy]

The enough part needs to redefine?

[@gasohwjchen]

Don't be the exit liq for boomers & gen X 😂

[@joshconsultancy]

exit liq?

[@temasekb]

@@joshconsultancy exit liquidity means bagholder

[@xfall86]

Im sure there are folks that can retire on much , much less. It all depends on what kind of lifestyle one can live with

[@joshconsultancy]

yes absolutely =)

[@annagoh2527]

Not difficult to have fully paid home at aged 40 if you are just buying a HDB flat.

[@decki86]

Can factor in cpf life or similar annuity if outlive 80? Does 1.5m includes remaining cpf after cpf life?

[@DonYang73]

$1.5mil retire at 75, ok lah. Retire at 40 with $1.5m?.? As good as eating dirt….. 😅😅

[@malita354]

Does the word Retirement apply to many in singapor?

[@DonYang73]

Haha, well said

[@psylak-py9qv]

1.5m with a fully paid house and car will be sufficient for 1 person who has no other dependents

[@joshconsultancy]

Id think so too. Smaller amount even if lifestyle is simpler

[@BernardLee-x7i]

There is no ready made answer as to how much one needs. It dep on lifestyle, any dependents/fam members to support, health status and any mortgage. If you want to maintain a lavish lifestyle/have alot of health or medical issues of: - living in a condo/landed (fully paid or partial) - having a domestic helper - going on holiday twice a yr (far destination) - dining at restaurants or coffee joints - even too sickly at that stage of life - supporting any parents/in-laws/siblings/family w kids - own a car Then of course u need to cater a higher budget. For those elderly that can take on abit of risk and invest into blue-chip reits n banks for their dividends and use it to maintain your retirement lifestyle then you wouldnt need to draw down on your retirement sum.

[@joshconsultancy]

Well said!

[@Buttercookiesssss]

SGD 1.5 Million cash, not including property (paid up) is enough

[@joshconsultancy]

pov noted

[@freddyng3623]

Just buy FD/ T Bills and live on monthly interest. So enough to live till 100

[@willsontoh7105]

lol you think year tbill 3%. You are still dreaming

[@joshconsultancy]

Interest rates can drop back unfortunately. Think back just 2021. T-bill 0.34%

[@Phonedumb]

Not T bills. But there's quasi gov bonds like Temasek which is AAA rated. They do have very long dated bonds if you're kiasi like me. But the effective coupons are not very high

[@ly8370]

No way FD can continue to maintain at 3% next year or beyond. I would use 2% as a conservative rate instead. $2mil is the magical figure to retire comfortably and frugally.

[@steventay5834]

I have less than $1.5m but I can retire comfortably.

[@zudgezury9330]

u can include immigration as well to other countries or do the quarterly rotation in cheaper countries like malaysia thailand or even immigrate to usa is ok too there are many diff city range

[@joshconsultancy]

valid point

[@DonYang73]

OCBC nonsense.

[@MsJTSM]

Thanks, good reminders for buyers of resale property.

[@Salty_Biscuitz88]

What is retirement?

[@piggysan666]

stress

[@steventay5834]

$1.5m with a fully paid house, is more than sufficient. You can live on passive income

[@joshconsultancy]

Congrats

[@LeedonLee]

❤🎉

[@nicholasyeow619]

The word "enough"... Even some people also can't explain what is "minimum" 😬

[@joshconsultancy]

“Enough” is a powerful feeling

[@danielchong1881]

Are the NW values of 1.5M, 4M and 5-10M mentioned in your video referring to a single person's NW or a couple's NW?

[@joshconsultancy]

I think the questions are mentioning single pax

[@Juveys]

May I ask why fully paid Condo and HDB that we live in is not part of Networth? Does It can be liquidated by selling it off then it would be considered ?

[@joshconsultancy]

Live in can’t provide cashflow for retirement

[@byebyefiat]

@@joshconsultancywhat about renting out the rooms that you don’t need?

[@holybutter]

1.5mil in GME 🚀🚀

[@joshconsultancy]

LOL... please dun

[@joeyl9435]

Can this $1.5mil include sum in CPF?

[@joshconsultancy]

Depends on goal. If early retirement then CPF cannot help. If target of retirement from 55 yes. Hope it answers k

[@JamesDeanDiedIn1955]

One more thing, please don't get upset with me, parents should not have to pay for children's tertiary education. Things freely given are never appreciated, hence the entitled generation. If parents really want to help, invest in their retirement fund, given the long runway. Small amount could balloon into a comfortable retirement

[@candywisdom]

No 2

[@joshconsultancy]

Big thank you!

[@chiaweinam]

no.1

[@joshconsultancy]

Big thank you!