14% of S'poreans financially ready for retirement
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Feb 21, 2011 - Straits Times
by Linette Lin
ONE in three Singaporeans plans to retire/was already retired before he reached 60 years of age, two years earlier than the current statutory retirement age of 62 years old in Singapore, according to Nielsen's Global Aging Report.
However, only 14 per cent of the Singapore consumers surveyed admitted they are financially ready for retirement - the lowest when compared to the Asia Pacific (22 per cent) and global (18 per cent) averages.
In Singapore, 82 per cent said personal savings would be their primary source of retirement income.
Travel is Singapore consumers' most favoured post-retirement activity, leading with 73 per cent, followed by volunteer work (51 per cent) and joining a club and participating in its activities (49 per cent).
More than 26,000 consumers in 53 countries throughout Asia Pacific, Europe, Latin America, the Middle East and North America took part in Nielsen's Global Aging Report.
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only 14% ready for retirement arh?
then the remaining 86% how?
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Originally posted by deathmaster:
only 14% ready for retirement arh?
then the remaining 86% how?
wipe tables, pick empty cans and used cardboards or earn $mil as memoir writer lor.
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The baby boomer retires, Singapore will be extremely short of workers.
The PAP solution is to get more and more foreigners to shore up the shortage.Denies anything to do with their policies. Instead, blame Singaporeans, blame horoscope, blame late marriage, blame this, blame that but themselves.
Solution? make them all work-till-drop-dead - thru inflation. -
why is it i have never been asked to participate in any of these so called surveys?
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Originally posted by deathmaster:
only 14% ready for retirement arh?
then the remaining 86% how?
I think 14% belong to the rich class income group pple. -
yeh true. boolsheet. nothing is ever ebough for retirement. face it i will work until the day i die.
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This report is a reflection of how our news don't make sense.......if we look at the budget they are talking about housing assistant for those low income that make less than XXX amount of money......and we swing around and say we have 14% of our citizens ready to retired early....
I can only think of 50% of the 14% are weathy FT?
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Nowadays even CPF is not enough for retirement.
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thats true ....CPF is hardly enough....and not to forget to consider a further substantial liability and deduction from divorce maintenance fees with the rise of divorces for men....its even much harder...
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thus, the probability of risks is much higher for men
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Even if u strike TOTO and Satan tempt u to casino to gamble, you might lose all your money.
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guys.................this is just more pre-election PAP bullshit.........
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do singaporeans relli get to retire?
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Originally posted by FireIce:
do singaporeans relli get to retire?
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Originally posted by dragg:
why is it i have never been asked to participate in any of these so called surveys?
The selection is random. And the selection has been made, long ago.
Everytime there is a national survey, I am "randomly' selected.
I think they work smart, or are lazy to randomly select again, so they use the previous list again and again.
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Everybody love to retire at old age.
But we left with no choice.
Must work till kick the bucket and pass the bulk to the children.
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Wipe more tables lor.
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Originally posted by charlize:
Wipe more tables lor.
Already saw foreigners slowly taking over this jobs.
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Originally posted by likeyou:
Already saw foreigners slowly taking over this jobs.
poor charlize.
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Originally posted by Cute Dolphin:
Nowadays even CPF is not enough for retirement.
inflation beats the interest they're paying.
and they cant afford to pay more coz those who used the coffers to invest just cant seem to make wise decisions.
buy high sell low.
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Actually very hard to define what is sufficient money for retirement.
It really depend on one's lifestyle and habit.
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I think they never interview the middle income group -_-
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They interview those ceo, coo, cfo, cpo, ufo.
Definately they can retire anytime.
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Originally posted by likeyou:
They interview those ceo, coo, cfo, cpo, ufo.
Definately they can retire anytime.
Quite a number of ppl I know have problems buying a flatHow to retire ??