Is $1.5M Enough For Retirement In Singapore 2024?

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Күн бұрын

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Today we'd answer some questions to how much is really needed for retirement in singapore for 2024. Many want to retire early and many feel a big amount is needed.
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0:00 Introduction
1:26 $100 a day
3:48 $5m-$10m needed
6:10 28days to financial freedom
6:40 Where to stay
8:26 Provide for family
9:38 Are you savvy
#retirement #retire #investment #retireearly
We do not make any recommendations on whether a security is a buy/sell as every investor has different investment goals and risk profiles. The presentation of ideas from Josh Tan and TheAstuteParent are strictly for education purposes. You are advised to perform independent research yourself or seek a qualified financial adviser. We will not be liable for any losses directly or indirectly from the material. Some of the referral links in the video summary are products and services personally used by Josh Tan and they may pay an affiliate commission or referral bonus.
It is not an endorsement of the product unless explicitly stated and we will not be liable for any losses. The content in this video and any promotions mentioned is accurate as of the posting date.
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About Josh Tan:
Josh holds a degree in Accounting from NTU. In 2016, he co-founded the financial education website TheAstuteParent to provide detailed insurance plan analysis and financial planning tips.
As a ChFC Charterholder, Josh has agreed to be bounded by the ChFC®/S Code of Ethics. This includes, among others, acting in a professional manner when it comes to conducting due diligence on primary and secondary sources of investment-related data, and articulating his investment opinions based on his research and beliefs. Based on his research and analysis, he highlighted his beliefs and opinions, and illustrated the concept of time value of money, as of the time of the video.
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Пікірлер: 73

@joshconsultancy Ай бұрын

ENGAGE Josh Tan on a fee for full retirement planning NOW - Hear the IMPROVEMENTS you can make IMMEDIATELY! ►‌ www.theastuteparent.com/josh-tan 🌟 Specially written by JOSH TAN! 🌟 Invest in your financial success here 1) 28 Days to Financial Freedom ►‌ payhip.com/b/UqpKL 2) HOW TO $1m (Newest Edition) ►‌ payhip.com/b/q5Bln

@MsJTSM 29 күн бұрын

Thanks, good reminders for buyers of resale property.

@xfall86 Ай бұрын

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 Ай бұрын

yes absolutely =)

@zudgezury9330 26 күн бұрын

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 26 күн бұрын

valid point

@danielchong1881 Ай бұрын

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 Ай бұрын

I think the questions are mentioning single pax

@kevin-4507 29 күн бұрын

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 29 күн бұрын

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 kzfaq.info/get/bejne/br2XYLGC2pvVd5c.htmlsi=T_UeBBnpCMWd7lL9

@user-kt7to7pk5t 29 күн бұрын

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 29 күн бұрын

Well said!

@R6ex Ай бұрын

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

@joshconsultancy Ай бұрын

Thats for from age65. Need to tackle the years before

@malita354 Ай бұрын

Does the word Retirement apply to many in singapor?

@DonYang73 29 күн бұрын

Haha, well said

@daryllee244 Ай бұрын

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 Ай бұрын

Live in can’t provide cashflow for retirement

@byebyefiat Ай бұрын

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

@Salty_Biscuitz88 10 күн бұрын

What is retirement?

@FoodieWarrior Ай бұрын

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

@CatherineCarol 10 күн бұрын

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

@FoodieWarrior 10 күн бұрын

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

@freddyng3623 Ай бұрын

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

@willsontoh7105 Ай бұрын

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

@joshconsultancy Ай бұрын

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

@Phonedumb Ай бұрын

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 Ай бұрын

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.

@alexy7656 23 күн бұрын

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 23 күн бұрын

Any suggestions or detailed case study on it?

@randomterror7 29 күн бұрын

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

@Mike-e1n 29 күн бұрын

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 29 күн бұрын

Would there be too much concentration in real estate?

@fanlee6560 28 күн бұрын

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 28 күн бұрын

Early retirement? 👍

@joeyl9435 Ай бұрын

Can this $1.5mil include sum in CPF?

@joshconsultancy Ай бұрын

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

@LeedonLee 22 күн бұрын

❤🎉

@nicholasyeow619 Ай бұрын

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

@joshconsultancy Ай бұрын

“Enough” is a powerful feeling

@cathhl2440 Ай бұрын

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 Ай бұрын

Happy for you =)

@DonYang73 29 күн бұрын

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

@psylak-py9qv 25 күн бұрын

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

@joshconsultancy 25 күн бұрын

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

@kevinlai6851 Ай бұрын

$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 29 күн бұрын

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 28 күн бұрын

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 26 күн бұрын

@@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 Ай бұрын

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

@joshconsultancy Ай бұрын

👍👍

@holybutter 29 күн бұрын

1.5mil in GME 🚀🚀

@joshconsultancy 29 күн бұрын

LOL... please dun

@JamesDean6133 Ай бұрын

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 Ай бұрын

Valid points raised

@piggysan666 Ай бұрын

stress

@DonYang73 29 күн бұрын

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

@joshconsultancy 29 күн бұрын

unverified yet unfortunately 🙏

@DonYang73 29 күн бұрын

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

@Phonedumb Ай бұрын

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

@joshconsultancy Ай бұрын

You're fine no worries =)

@candywisdom Ай бұрын

No 2

@joshconsultancy Ай бұрын

Big thank you!

@DonYang73 29 күн бұрын

OCBC nonsense.

@JamesDean6133 Ай бұрын

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