I would like to hear views, opinions, experiences and recommendations on living and retiring abroad. Many members have expressed interest in an alternative lifestyle.<\/p>\n
We have been told that it is possible to live in Thailand for under SIN$500. Places like Chiangmai, Chonburi and Krabi have been cited as possible locations. Some members have even visited possible locations for a taste of the possibilities.<\/p>\n
Here is a chance for us to collate details and share information specifically on middle and long term experience of living abroad.<\/p>\n","protected":false},"excerpt":{"rendered":"
Here is a very good discussion on minimum sum.
\nhttp:\/\/info.channelnewsasia.com\/bb\/viewtopic.php?t=33132&postdays=0&postorder=asc&start=0&sid=395fc2f5b76d2e1f0bab0686eabd4573<\/p>\n
It is a complex issue in itself. But for the purpose of this discussion, the impact of this is that you will be obliged to keep back S$120K for which the government will pay you $711 per moth between the ages of 62 to 82. If that’s all you have, try not to die before or after that age.<\/p>\n
Let’s first concentrate on staying in Singapore. In five years time, you will find it impossible to maintain even a basic conventional lifestyle in Singapore for that sum unless you take a vow of poverty. <\/p>\n
Here is the best Plan B for Spore retirees. This is in the form of new Elder Studios coming in at a projected $190K per unit by some estimates. You can downgrade releasing the difference in capital value to supplement your savings. You would be wise then to minimally put savings up to $500K in annuity to create an additional $2K per month for life. Together with the CPF minimum sum provision you will have up to 2.7K per month from 62 to 82 and $2K for the balance of time. You should be able to maintain a reasonable standard of living in Singapore. <\/p>\n
If you cannot raise this amount here are few additional tips. If you need to, sell your car to scrap together this amount. If you do not wish to downgrade, you can consider putting your existing property into a reverse mortgage to raise the shortfall. <\/p>\n
If you are still short of this sum then you can turn a page to a still controversial proposal Plan C. Terence has provided the lead. We expect that the new Elder Studios will eventually come under a new management corporation (MC) structure. Unlike present MC which tend to focus on maintenance of fixed assets and running of the estate, this MC will have extended mandate to run the estate like a retirement village or full service apartments. The MC like any organisation can then have economies of purchase. They can also provide extended services like maid services, common kitchen and transportation. If this can be achieved then we can see a stretching of the dollar and our hope for a more leisurely lifestyle here.<\/p>\n","protected":false},"author":103,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,29,6],"tags":[],"class_list":["post-305","post","type-post","status-publish","format-standard","hentry","category-2","category-29","category-6"],"_links":{"self":[{"href":"https:\/\/silverhairsclub.com\/index.php?rest_route=\/wp\/v2\/posts\/305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/silverhairsclub.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/silverhairsclub.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/silverhairsclub.com\/index.php?rest_route=\/wp\/v2\/users\/103"}],"replies":[{"embeddable":true,"href":"https:\/\/silverhairsclub.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=305"}],"version-history":[{"count":1,"href":"https:\/\/silverhairsclub.com\/index.php?rest_route=\/wp\/v2\/posts\/305\/revisions"}],"predecessor-version":[{"id":49911,"href":"https:\/\/silverhairsclub.com\/index.php?rest_route=\/wp\/v2\/posts\/305\/revisions\/49911"}],"wp:attachment":[{"href":"https:\/\/silverhairsclub.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/silverhairsclub.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/silverhairsclub.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}