The Hard Truth About Retiring In Singapore

With inflation and the cost of living going up, how much do you need to retire comfortably in Singapore? S$1 million? $2 million or even more? How do you even create a personal financial plan to reach your retirement financial goal?
In this episode, we share one free tool that shows you step-by-step how to plan for your retirement in Singapore. It also shows you how near (or far) away you are from your retirement goal, and what you can do to reach it faster.
CPF Planner: www.cpf.gov.sg/member/tools-a...
00:00 Introduction
00:22 How much do you need to retire in Singapore
01:12 CPF retirement planner
05:30 Is CPF enough?
08:10 Investing your CPF
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Here are a few more investing tips and tutorials to help you out:
HOW TO INVEST IN DIVIDEND STOCKS
• How To Invest And Make...
HOW TO INVEST IN REITS
• How To Invest In REITs...
HOW TO GROW YOUR CPF FOR RETIREMENT
• How To Grow Your CPF F...
HOW TO READ A FINANCIAL REPORT
• How To Read A Financia...
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[@leeaaron7856]

The key is to treat cpf savings as a secondary income when you turn 65. Concentrate and focus on building a primary income that can sustain you and your family until old age. Try not to use CPF as the main source of income in the long term. This way, you will see a lot of wealth when you turn 65.

[@allantankl]

Cost of shelter is the elephant in the room. I would think many people would have migrated either to Johor and beyond while collecting passive income here in SG to sustain the new lifestyle overseas.

[@khengyoongteo761]

Great sharing, thanks.

[@TheFifthPersonChannel]

Thanks for watching!

[@ocswoodlands]

you need cash flow of about $40k/year (constant dollars) WITHOUT depleting the principal sum. The principal sum will be the hedge against inflation,medical emergencies and a bit of legacy left.

[@candywisdom]

Targetting to retire in one of the world most expensive cost of living is a super hero premium task

[@BlackSwan-sq2iw]

It's $1Million per person. So a couple needs $2Million to retire. ANd that's investible fund. So technically you need some buffer on top of that for living expenses to tie over low return periods. Assume 5% annual yield, a $2M will yield $100K per year. You need to plow back some into the capital to fight inflation. Only with that you can retire "decently well" in Singapore.

[@babibrain]

Singapore dont need to worry of having less than a million. There are a lot of place in South East Asia which is best of retirement destination.

[@GodTell7]

hi guys, thanks for sharing. dont forget to maintain your health also money ya! btw, how old r u guys?

[@TheFifthPersonChannel]

We're mid-30s to 40.

[@homunwai7261]

Is singapore reits ETF considered 'floor' now to use CPF OA to invest in? Tks.

[@Jack-hy2ki]

The amount depends on what kind of lifestyle u want when retired.

[@leewn2319]

Other than lifestyle, keeping a healthy body without major ailments is important as it can deplete your savings very quickly unless u good insurance coverage.

[@jem8965]

First!

[@kcchiew4247]

We cannot use the planner, because not below 54. Our CPF + saving + investment is enough for us to retire comfortably in Singapore.

[@TheFifthPersonChannel]

Glad to hear your retirement is on track! 😄

[@TheFifthPersonChannel]

Just to follow up that you can also use the CPF LIFE Estimator to estimate their CPF LIFE monthly payouts based on your desired retirement lifestyle if 55 and above: www.cpf.gov.sg/eSvc/Web/Schemes/LifeEstimator/LifeEstimator Hope this helps!

[@desmondsim7881]

1 million with kids and no dividend investment sure not enough. Otherwise should be more than enough for single.

[@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.

[@liamporter1137]

Young couples cannot afford living in Singapore. Better to immigrate to other countries where one can afford big car and house. Furthermore, the house and land is yours and no such thing as leasehold which is ridiculous. Young couples needing to wait for about 5 years for BTO is not acceptable. The waiting time should be about 1, 2 years. The government wants more babies and yet the waiting time is so long and expensive. Pretty hypocrite. Rich and poor gap is far too wide and yet the government is not doing enough.

[@alipromo53]

1M eat buffet each day or what

[@alipromo53]

No to TOP up

[@stylerho6278]

Comfortably retiring in Singapore is relative! If you want to live in a multi million house and just have S$2000 to spend each month (asset rich cash poor) that’s your problem! You know what I mean? So, if you right / down size your home, you could have S$5000 to spend every month. That is simple math!!!

[@bennylim9302]

Million air also stress😂

[@TheFifthPersonChannel]

First world problems 😂

[@hc5431]

It's only for those 54YO and below. :(

[@TheFifthPersonChannel]

You can use the CPF LIFE Estimator to estimate their CPF LIFE monthly payouts based on your desired retirement lifestyle if you're 55 and above: www.cpf.gov.sg/eSvc/Web/Schemes/LifeEstimator/LifeEstimator Hope this helps!

[@tedchandran]

Jai Hinduja. Go to Malaysia for cheaper living. But only one time additional immigration illegal collection can wipe out all the savings.

[@jimmihendrixhendrix9575]

If you can't afford it please leave. This is a competitive world we need to stay ahead.

[@aungnaylin9787]

[@jensonchen]

www.cpf.gov.sg/member/tools-and-services/planners/cpf-planner-retirement-income Actually launched in Dec 2020. Relaunched in May 2023.