RETIREMENT

Based on the post,
Money not enough - Cost of living in Singapore @ 5/14/13

assuming NO INFLATION, one may need around $1000-$1500 ($2000- $2500 for couple) per month upon retirement

assuming one RETIRE @ 65... and can live to 80 

one needs $180000 - $270000 

assuming SAVINGS starts @ 25 (40 years of savings), one need to save $375 - $562.50 per month (presuming there was no break in income, no retrenchment, no events that require digging into savings at all)

The above assumption is made in the belief that CPF will be FULLY utilised for the ONE & ONLY HDB flat and renting out of room(s) is not considered for one reason or another.
Monetising the flat by renting out rooms may be an option for some... but what if prices of flat is out of reach for your child(ren) by then?

Have you already started preparing for your retirement? :D

Money not enough - Cost of living in Singapore

MANY SAY 'MARNY' NO ENOUGH!!

But is it really money not enough(?) OR we are expecting too 'little'... hmMmm...

Here is a breakdown of d'ESTIMATED monthly expenditure (w no kids + on the thrifty side)...

internet	$40	/ Starhub (100Mbps fibre broadband)
hp	$15	/ top up card
transport	$200
meals	$300
entertainment	$200
insurance	$100
misc	$600	/ $500 for parents; $100 buffer
TOTAL	$1455 ($1500/mth)

So, what's d'ESTIMATION of your mthly expenditure? 

or you have never ever given budgeting, planning any thoughts? :D

Buying a car in Singapore? Cost of car in Singapore.

When those super-cars zoomed by, do you go "WoW! *flip out hp and start *click *click *flash *flash?"

Ok, maybe you don't... but I DO. 

sometimes, I do wish dream WANT them, maybe as a passenger also ok.. 

*flip flip my long hair... anybody?* hahaha. NOBODY! OUCH! 

enuf joke.

yeah, joke... but owning a car is no funny business eh, esp in Singapore.  

put aside the aprox $70,000 for just the COE (no COE, no car - in SG).

no, you don't need new glasses and yeah there was no error... its $70,000, SEVENTY THOUSANDS.

plus the cost of the car itself... a beautiful mini car will set your back smelly smelly (easily) by at least $100,000!

and in case you do not know, the COE lasts you for 10 long years... no matter how well you can maintain your car, 10 years later you HAVE TO renew your COE for another $??? (can't predict...sorriez there)

Assuming you paid your car in full (pls note the new regulations for car-loans), you still have A BIT more to take note of continue paying for (for buying une petite voiture):

1. Road Tax - depending on cc - approx. 700-800/yr. (COE is the licence that comes with owning a car; road tax is the licence to drive that car with the COE) 
2. Insurance - again depends on many many factors - approx. 2000/yr
3. Servicing - 600/yr (if you want... lol)
4. Seasons parking - if you live in HDB - 1080/yr
5. Cash card - for your toll (ERP) or parking anywhere you can think of in Sg - 1080/yr (if you don't travel a lot during peak hour, nv go to town area for too long)
6. Fuel - again depends - 2400/yr 

TOTAL: 7860/yr (655/mth) 

FOR 10 YRS: 78600 + 100000 = $178600 

And that is after I have rounded down all the numbers so that owning a car looks so highly affordable! lol. Imagine the car loan... well well... definitely will make monthly expenditure 1XXX JUST FOR THE CAR!

Say, after buying a car (with loan), do you spend 1XXX, on yourself?

do you spend 1XXX on your parents / family & friends? Or your kids?

If any of the answers is NO... what can I say - but it seems You are treating a car better than anything else?! 

Assuming most of us take 30 years to clear THE hdb loan; and if, IF I WERE to have a car throughout these 30 years, there will be 3 cars. Lets presume the COE stays FLAT... that will be a WHOOPING $535,800!! (Maybe take away a bit for the scrap value of cars ... still "NOT" a lot?)

Unless you have the luxury of  short working hours / not working (regardless of why) or you do sales and you are always in the car, zooming by from place to place - you are paying 1XXX (MINIMUM) and $535,800 (for 30 years) to 'SUN TAN' your car! Isn't sun tanning supposed to be free in Sunny Island? *oopPS*

Mind you, SG is a small small country... with very developed public transport system. There is no ulu ulu places, except for Lim Chu Kang, where you may need to walk 1-2 hours just to catch a bus (or maybe there is a bus there? or somewhere even more ulu?). Even in Lim Chu Kang, can call for taxi... but of coz not in the wee hours of Hungry Ghost Month la! 

So, still want to materialize the dream of owning a car?? :P