$550k to retire is doable. If

$550k to retire is doable. If you look at the CPF Life estimates for $550k on the Escalating Plan (to fight inflation). Assuming you put $550k into CPF Life at 55 years of age this year, it will give you $3340/month at age 65, $4970 at age 75 etc.

That should be sufficient to cover basic expenses with some leftover. I suppose there are some assumptions needed, eg you own your home and will not outlive it, you don't have dependents after retiring etc.

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

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":445675596730672,"tweetId":"445675596730672","gmtCreate":1749831630395,"gmtModify":1749835274273,"author":{"id":3575420342405162,"idStr":"3575420342405162","authorId":3575420342405162,"authorIdStr":"3575420342405162","name":"MarkN","avatar":"https://static.tigerbbs.com/99ad375a87341ac6ee6e1e5a9fe435c3","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":12,"crmLevelSwitch":0,"currentWearingBadge":{"badgeId":"cbe1c45c584340f3bd9ae6c77e0e9981-1","templateUuid":"cbe1c45c584340f3bd9ae6c77e0e9981","name":"Academy Experiencer","description":"5 lessons learned","bigImgUrl":"https://community-static.tradeup.com/news/fb5ae275631fb96a92d475cdc85d2302","smallImgUrl":"https://community-static.tradeup.com/news/c2660a1935bd2105e97c9915619936c3","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2025.05.29","individualDisplayEnabled":0},"individualDisplayBadges":[],"fanSize":56,"starInvestorFlag":false},"themes":[{"themeId":"288d87ebcd19403191f964e8386f745d","categoryId":"d3c66e9d6c224ba082ca76ee654847ca","name":"S$550K vs S$1.87M: 3x Gap! How Much Do You Really Need?","type":0,"rnLink":"https://laohu8.com/RN?name=RNTheme&page=/theme/detail&rndata={\"themeId\":288d87ebcd19403191f964e8386f745d}&rnconfig={\"headerBarHidden\": true}","description":"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.\n\nBut 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.”\nTo 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!","image":"https://community-static.tradeup.com/news/13be0a878919667e69bd23919a2ef426"}],"images":[],"coverImages":[],"html":"<html><head></head><body>$550k to retire is doable. If you look at the CPF Life estimates for $550k on the Escalating Plan (to fight inflation). Assuming you put $550k into CPF Life at 55 years of age this year, it will give you $3340/month at age 65, $4970 at age 75 etc.\nThat should be sufficient to cover basic expenses with some leftover. I suppose there are some assumptions needed, eg you own your home and will not outlive it, you don't have dependents after retiring etc.</body></html>","htmlText":"<html><head></head><body>$550k to retire is doable. If you look at the CPF Life estimates for $550k on the Escalating Plan (to fight inflation). Assuming you put $550k into CPF Life at 55 years of age this year, it will give you $3340/month at age 65, $4970 at age 75 etc.\nThat should be sufficient to cover basic expenses with some leftover. I suppose there are some assumptions needed, eg you own your home and will not outlive it, you don't have dependents after retiring etc.</body></html>","text":"$550k to retire is doable. If you look at the CPF Life estimates for $550k on the Escalating Plan (to fight inflation). Assuming you put $550k into CPF Life at 55 years of age this year, it will give you $3340/month at age 65, $4970 at age 75 etc. That should be sufficient to cover basic expenses with some leftover. I suppose there are some assumptions needed, eg you own your home and will not outlive it, you don't have dependents after retiring etc.","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/445675596730672","repostId":0,"isVote":1,"tweetType":1,"viewCount":1503,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":371,"optionInvolvedFlag":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/445675596730672"}