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Wednesday, 13 February 2019

Singapore household incomes grew in 2018, income inequality stable


Read? Singapore household incomes grew in 2018, income inequality stable


 CW8888: How much is enough to retire comfortably in Singapore for a couple without housing loans and children all independence?

 When you NO need to save for your retirement anymore and also debt free; $4,000 to $6,000 is enough???

 Among households headed by a Singapore citizen or permanent resident which had at least one working person, the median monthly income last year grew by 3 per cent in nominal terms to S$9,293, up from $9,023 in 2017.

Posted by Createwealth8888 at 22:23
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5 comments:

  1. Robert15 February 2019 at 08:32:00 GMT+8

    Do you think this statistics is meaningful when it includes the employer's CPF? I am just curious how this could be compared against other countries with no such scheme. Would median on disposable income be a lot more meaningful for Singapore?

    ReplyDelete
    Replies
    1. Createwealth888815 February 2019 at 08:49:00 GMT+8

      For retirement planning, we can deduct 37% off the median to work out magical number of how much is enough.

      Delete
  2. Frederick Ho17 February 2019 at 18:15:00 GMT+8

    4-6k is definitely enough. When one is retired, there is no need for the following:

    1. Save for retirement.
    2.CPF contribution, haha incl employers
    3. home mortgage
    4. children education
    5 . car loans, and travelling expenses
    6. working expenses, from clothing to meals
    7. client entertainment, beer money
    8. Ang pow money

    I’m spending much less than the stated quantum.

    ReplyDelete
  3. temperament17 February 2019 at 18:25:00 GMT+8

    4k to 6k is quite comfortable if not towards the Luxury sides when free of debt.

    ReplyDelete

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