SG Young Investment

I spoke to some of these and discovered that most had to keep working and to get a higher salary, they decided to upgrade themselves. Many of them have been working for more than 30 years but nonetheless do not have enough for pension. Per month when they first began working 200. As inflation sets in and things are more expensive in Singapore, it became impossible to retire for them.

Some of them even tell me to prepare a house abroad as retirement in Singapore will become even more impossible in the foreseeable future. Is this the situation really? 500 monthly for 30 years enough for retirement? I did some quick calculations and indeed it’s quite hard for low-wage workers to save enough for retirement.

180,000. As we now know, this amount is too little to last for just about any retirement. 500 per month is certainly not enough for retirement especially during our times now. Then, how much savings is enough? For retirement planning, we ought to regulate how much we have to build up first? 1 Million since this is the sweet spot to truly have a good retirement.

I do a retirement grid which ultimately shows how much our savings and investment will become in 30 years. Let me guide you on how to read the grid above. The still left most column is the savings per month and the very best row is the annual investment come back. 500 monthly for 30 years with 0% investment returns.

  • 35% of 240 = 84
  • Make a sizable down payment
  • Have your business in move around in condition in any way times
  • 51$36,000.00 $18,000.00 $504,000.00 $1,051,246.49
  • It reduces your debt-to-income ratio and allows you to buy more local rental properties
  • The accounts and all the records of an AMC are submitted with
  • ► January (2) The Budget and Economic Outlook: Fiscal Years 2009

1500 per month is not enough. We still have to invest it at 4% compounded returns for doing that sum. 540,000. Most of us will start working in our mid-20s and in 30 years probably, we are about 55 to 60 years old so 30 years timeline is just nice for pension planning. 1.14 Million with simply a 3% investment return. 1.04 Million with just 1% investment return.

1% may be accomplished easily through a bank or investment company interest. Why income is so important for retirement planning? If you go through the retirement grid I created closely, you may have notice that savings form a huge part of the retirement. 1 Million in 30 years. That is why income is so important for retirement planning. If we earn a low income, it is quite difficult to save more money really.

It becomes an extremely miserable life to save money with too low money. However, do take note that the majority of us do start with lower income therefore the starting point is always more of a sacrifice but it becomes easier later. Investing is also an important part in retirement planning. 1.01 Million. That is almost dual in 30 years! This also shows investing early in our life is quite important.

Another thing about retirement is it is really time critical. The above-mentioned retirement grid is in a 30 year’s time frame, so it is more controllable. If we are late in the planning stage in support of have 20 years till retirement, it will be a lot more difficult to build up significant cost savings for retirement.