My retirement goal is S$1.5-2m

My retirement goal is S$1.5-2million.

S$550K is way too little. I recall the figure floating around has been S$1million for a long time. So, S$550K comes as a surprise.

I think 3K per month is ideal. This would help to account for basic expenses, hobbies to spend time meaningfully with and also for travelling. This is also to account for the scary inflation.

I save/ invest at least 30% of my salary to try to beat inflation. I think I am currently on track with my savings and investment to reach my target amount.

Importantly, I try to ensure that while I try to have a good quality of life, I do not have overt lifestyle inflation and steward my money to have the maximal sum for retirement. It is always better to have more than less but also important to have a certain quality of life. Balance is the key!

@Success88 @Kaixiang @Wayneqq @Fenger1188 @HelenJanet @DiAngel @SPOT_ON @LuckyPiggie @Universe宇宙 come join

S$550K vs S$1.87M: 3x Gap! How Much Do You Really Need?

Previously, we discussed $DBS(D05.SI)$ Bank’s suggestion that S$550,000 is needed to retire in Singapore “S$550K to Retire in SG: Have You Planned Your FIRE Number?” and many tigers shared your own investment and savings plans for retirement. But now, a new report from $HSBC Holdings PLC(HSBC)$reveals that wealthy individuals in Singapore believe they need S$1.87 million to enjoy a “comfortable retirement.” To retire peacefully in Singapore, ordinary folks need to save S$550K, while the wealthy feel they need S$1.87 million. That’s a staggering difference — over three times more!

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

breAkdaWn
06-16
breAkdaWn
Good on you.. keep it up!!
- MHh:
  Thank you! All the best for your retirement plans too![Smile]
Fenger1188
06-16
Fenger1188
👍🏻👍🏻

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It is always better to have more than less but also important to have a certain quality of life. Balance is the key! \n \n \n <a href=\"https://ttm.financial/U/4101948424484190\"> @Success88 </a><a href=\"https://ttm.financial/U/3568714328624189\"> @Kaixiang </a><a href=\"https://ttm.financial/U/3574671931921507\"> @Wayneqq </a><a href=\"https://ttm.financial/U/4088149090977750\"> @Fenger1188 </a><a href=\"https://ttm.financial/U/3581735774790928\"> @HelenJanet </a><a href=\"https://ttm.financial/U/4100833454173050\"> @DiAngel </a><a href=\"https://ttm.financial/U/3582922989777578\"> @SPOT_ON </a><a href=\"https://ttm.financial/U/4107063207857540\"> @LuckyPiggie </a><a href=\"https://ttm.financial/U/3585001294737518\"> @Universe宇宙 </a>come join</body></html>","htmlText":"<html><head></head><body>My retirement goal is S$1.5-2million. \n \n \n \nS$550K is way too little. I recall the figure floating around has been S$1million for a long time. 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Balance is the key! \n \n \n <a href=\"https://ttm.financial/U/4101948424484190\"> @Success88 </a><a href=\"https://ttm.financial/U/3568714328624189\"> @Kaixiang </a><a href=\"https://ttm.financial/U/3574671931921507\"> @Wayneqq </a><a href=\"https://ttm.financial/U/4088149090977750\"> @Fenger1188 </a><a href=\"https://ttm.financial/U/3581735774790928\"> @HelenJanet </a><a href=\"https://ttm.financial/U/4100833454173050\"> @DiAngel </a><a href=\"https://ttm.financial/U/3582922989777578\"> @SPOT_ON </a><a href=\"https://ttm.financial/U/4107063207857540\"> @LuckyPiggie </a><a href=\"https://ttm.financial/U/3585001294737518\"> @Universe宇宙 </a>come join</body></html>","text":"My retirement goal is S$1.5-2million. S$550K is way too little. I recall the figure floating around has been S$1million for a long time. So, S$550K comes as a surprise. I think 3K per month is ideal. This would help to account for basic expenses, hobbies to spend time meaningfully with and also for travelling. 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All the best for your retirement plans too![Smile]","text":"Thank you! All the best for your retirement plans too![Smile]","html":"Thank you! All the best for your retirement plans too![Smile]","disclaimerType":0}],"verified":10,"allocateAmount":0,"commentType":"hot","coins":0,"score":0,"disclaimerType":0},{"id":446646989242840,"commentId":"446646989242840","gmtCreate":1750065726951,"gmtModify":1750066048938,"authorId":4088149090977750,"author":{"id":4088149090977750,"idStr":"4088149090977750","authorId":4088149090977750,"name":"Fenger1188","avatar":"https://static.tigerbbs.com/184410bf08b3311824fc2e583144b220","vip":1,"currentWearingBadge":{"badgeId":"9427a906234c4b18a82ec3d7730b7fa8-1","templateUuid":"9427a906234c4b18a82ec3d7730b7fa8","name":"Star Contributor","description":"Published at least 3 PICK posts (or 10 IDEA posts) and, within the past 30 days, posted at least 1 PICK post (or 4 IDEA posts) and 1 comment","bigImgUrl":"https://community-static.tradeup.com/news/1866dcf97a73be1c330f85862546aedc","smallImgUrl":"https://community-static.tradeup.com/news/4f5c5fa8e2c7683bb5a7fce8753ee456","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/activity/market/2023/star-contributors/","hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.08.19","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":2007},"hat":"https://static.tigerbbs.com/f3e7f6253c885de8bad6403055b76aab","crmLevel":12,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":446336851685464,"objectIdStr":"446336851685464","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"👍🏻👍🏻","text":"👍🏻👍🏻","html":"👍🏻👍🏻","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"invalid","coins":0,"score":0,"disclaimerType":0}],"isCommentEnd":false,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/446336851685464"}