Most Singaporeans feel they need at least S$500,000 to feel financially free: Survey

[@kingcat2307]

You are interviewing a foreigner about Singapore's local issues... He is not even qualified to speak about this. Waste of time.

[@MartinHao19]

On the economic front, we're not doing better. Productivity growth is still at a standstill, GDP growth is a measly 2.5 percent, a level Mr Chan Chun Sing admits is a rather depressing, skills and jobs are mismatched, retailers are exiting the country, employment growth for locals is flat-lining. We've even come up with a new term, the “graduate poor”, because our graduates either cannot find employment or if they find jobs are woefully underemployed.

[@johnji3537]

$500,000 is not enough. Unless you move to Malaysia, Indonesia or any South-East Asian country. You need at least $1 million.

[@shanjinchoy]

Agreed. 500k isn't sufficient at all

[@DarkPa1adin]

Assuming if it's cash after paying all your assets and property, I think it is ok. Can eat until die

[@johnji3537]

@@DarkPa1adin That's if you have all your assets and property fully paid. How many lucky Singaporeans are in that category?

[@johnji3537]

@@shanjinchoy 500K would be sufficient if you're by yourself. The cost in Singapore to take care of family, children, mortgage, insurance and ..... requires a lot more than 500K.

[@loihaipoh7644]

This guy keeps going round the bush. He has not answered the question.

[@deschan2246]

$500k is never enough when cost of living (mostly govt induced) continue to climb.

[@DarkPa1adin]

Don't buy car or only buy COE car

[@anglo-saxonconnor817]

It is a moving goalpost the entire time. The amount you need to have to feel secured is base on your current moment calculation and understanding of what's ahead. Also you will know whether the amount you want to have is achievable or not through savings. If you simply can't achieve it then simply just live and let go of your worries.

[@maikeirini4631]

What a waste of time listening to him! At the end of it, I can’t even understand what was the point of the interview!!

[@philip954]

Agree. Angmoh like to talk a lot and doesnt mean much.

[@loihaipoh7644]

Agree...don't know what he is talking. A confused mind

[@jameslim8094]

he can't even articulate. The survey has no objective

[@nicklee7002]

Cost of rental decide the cost of living and cost of living decide the cost of rental; a vicious spiral.

[@ttkoh123]

- According to a "reliable survey" some time ago: 2 in 3 working Singaporeans do not have savings to last them beyond 6 months. - According to CNA News the other time, Credit companies see rise in people applying for personal loans, for daily essential included. [Note: reliable survey implies qualification specified that the survey complies with standards to represent the Population as qualified]

[@elie464]

Wealth is relative. If everyone had $500k today, prices will jack up as resources are limited. Unfortunately to be truly comfortable, it will come at the expense of others, Singaporean or not

[@cac1504]

Please promote minimalist lifestyle in Singapore.

[@seewhyt3626]

How much is enough really depends on each individual's comfort level and their standard of living. The rule of thumb is not to downgrade much from your current living requirements when retire or take a hiatus from work.

[@ingkie]

Ask the seniors in the heartlands and old age homes.

[@profitmuhammed]

$500k which takes more than 27 years to save, cant even get you a propper housing

[@octovanfoo968]

I think $500,000 is still not enough. Lets say you invest all these 500k and it gives a dividend of 5% that's only $2000/ month

[@kcchiew4247]

With RA saving 200k now, we will get around 1500 per month (life-long) at age 65.

[@wowokingxoxo]

when you retire run to Johor la, 500,000 RM is more than enough. last 5 years before you die come back and use medisave. In 3 years , take MRT back to SG to meet your friends in woodland MRT.

[@lllengl.9660]

Am I the first Singaporean who want to be Malaysian or Indonesian?

[@anglo-saxonconnor817]

@@lllengl.9660 No you are not. In fact you are very late to the party and to have this thought. Countless Singaporeans have done it already.

[@DarkPa1adin]

How do I know when is my last 5 years before I die? 😂😂😂

[@tayspiderx]

We need to all have Iswaran wage freeze benefits

[@DarkPa1adin]

Insurance agents will tell you that you need 1M to retire without worries 😂😂😂

[@Kilimanjaro5896]

Financial wealth is relative. What is more important is mental and physical well-being. Be comfortable in your own skin. Whether we like it or not, we can't bring our money with us to the after life.

[@kengleetan63]

It is not how much you save but have much income you still can generate even if you don't work anymore, indefinitely. Tio bo?😆😆😆😆

[@GurunathHari]

So what is the range. 570k is the median

[@markfish1113]

500k cash is hard to have, usually just asset for singaporean like hdb + cpf.

[@frozzbite]

this guy doesn’t seem like he believes $500k is enough

[@cac1504]

In time to come, those above 35 years of age do not have to work. Selling off their million dollar HDB homes will take care of early retirement. Who knows, we may even be like the USA with citizens living on the streets. They call it a 'lifestyle choice' when homes become unaffordable, though still very affordable according to official narratives, for some folks. With every family having two or three HDBs, ie the elderly and two kids, even renting out one home is good enough to tide them through. In time to come, Singapore will be a retirement paradise. Citizens do not have to work till 65, just live on the rental of their properties at age 35, and do not have to work after that. Now with HDB flats selling above a million dollars happening a dime a dozen, life is really so good that not many think it necessary to work, with all the added subsidies thrown at them. They are even asking for applications to participate in various schemes. No wonder so many foreigners are rushing for citizenship.

[@linuxnewbie74]

Guest speaker doesnt really answer the question, why he was there in the first place?

[@cholesterol804]

Why would people save. Americans and europeans spend everything.

[@richardtan4179]

worrying too much about savings u go crszy.just spent what is needed. 70 yrs. ago we were very poor also live like that..got money makan besar..no money eat rice with 2 fry eggs also can. don't listen to ang moh ..balance diet.rubbish.

[@fidelcatsro6948]

I need only 200k..i live mainly on maggi and eggs 🐱👍🏿

[@lllengl.9660]

Save $500K to buy a 2 room flat. Hahahahaha! The only poor people in Singapore are Singaporeans.

[@fv7048]

govt should hv the data, and more accurately suggest what is going to be the fact, than these survey which can be very subjective.

[@kongthai..]

Average household assets in Singapore is S$1,600,000. CNA implies all of Singapore household have financial freedom. . That's a good situation. Always live in a household. 😂❤

[@kongthai..]

The key is the 1.Home, 2. Annuity from CPF, 3. perhaps Elder Entitlement Annual Grants, 4. Home Office investment portfolio including a family or clan business, 5. Work as long as you desire. 😅

[@LonganLee]

Future inflation is not factored in. Don't be confused

[@squiggy18]

$5mil to have a modest retirement? Err what is that definition of modest? Someone to bath you, feed you, chauffeur you around (wheelchair/car you pick)? Eat in restaurant for each meal? Travel every month?

[@DarkPa1adin]

Buy car every 10 years

[@harukrentz435]

500.000 usd? 😨

[@tonykwok9763]

1MILLION AND MORE.....FOR FREEHOLD PROPERTY OR HOME??????

[@umesh6772]

SINOPORE have the Option of going to JAPAN or South Korea for Happiest living than Struggling!!😅😅

[@hatchegg80]

$500k at what age? obviously it's differnt if you are 70 vs 40, nonsense by singlife

[@michaeltorio3459]

10Mil free retirement fund😕

[@kealee6350]

In SG you needs 5m to retire

[@lecherhao86]

Let's be realistic. How many of us can save half a million?

[@John_Smith_86]

Many many many people

[@vincecarlo]

@@John_Smith_86 MORE FT Interference

[@firdausbj1]

Personal financial freedom is your personal responsibility. Can't blame the government for it. For example, you can't blame your teachers if you fail your exams. You need to personally study. I started planning for retirement by purchasing retirement and invesment products in my early 40s. Today I checked I have a total of almost $300,000 (CPF + Retirement fund + Investments). Possible to reach $500,000 in the next 10 years. Don't just put money in bank. Go invest !

[@devildevil2271]

Make it a million $$$😂😂

[@Natlim55]

Wasting time #saylikeneversay

[@michaeltorio3459]

Foundation nation 🙏😇👵👴👶👽👻

[@michaeltorio3459]

Believe🐨🐗

[@michaeltorio3459]

Alien or ghost😮

[@anziar3038]

Pritam singh of WP is paid $400k salary to serve the people honestly and responsibly, but he ends up being probed by the police for lying under oath. It's most likely that he's trying to hide many things from the public. 🤣🤣

[@tankman20064]

Ridout house too. 1 million renovation