It came to my attention that the fictitious Mr Tan's - who was made famous in the 2014 National Day Rally - current monthly salary of S$4,500 would place him around the 25th to 30th percentile of Singapore household income ladder. According to the Department of Statistics, in 2013, the average monthly household income for the lowest 10 per cent of resident households was S$1,711.
The S$2,000 projected retirement income for Mr Tan, in today's dollar value, would therefore put him among the lowest 10 per cent of resident households which is considered to be enough for basic or subsistence living. And with inflation, the real value of the S$2,000 retirement income will be paltry.
So is S$2,000 (monthly) enough for basic living?
A S$4,500 to a S$2,000 lifestyle is a big adjustment. Are you willing to make such an adjustment? Even if you are, please do consider inflation. Are you willing to believe that the two pillars (CPF and Home Ownership) are enough? Think hard. The best lessons are to look for examples - your parents', your seniors' - and ask yourself could they have done more.
Read: National Day Rally 2014 - Assurance in Retirement?
Read: National Day Rally 2014 - Assurance in Retirement?
Hello Everybody,
ReplyDeleteMy name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of $250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of $250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.
Hello Everybody,
ReplyDeleteMy name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of $250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of $250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.