Cost of Living in Singapore ; living within my means

It is time I took stock at my living expenses and really see how much I would (as an individual) need to live on as a soon to be retiree. It is advisable for us at certain stages in our life to pause, calculate, and take a hard look at one's station and decide what is needed for him or her to continue in his or her life with dignity.

Assuming you are in good health, and your flat/condo/house and car (luxury in Singapore) are paid off. These are 3 big ticket items one should clear as soon as possible, in the run up to living off your earnings. 

There are several things, absolutely one must have on top of the 3 big ticket items. That is adequate health insurance or medical care for critical illnesses. So if you are 55 (like me), ambulant, have basic cognitive abilities (can take the bus, buy food at the market and go to the toilet unaided), then list down the items you would need for a basic, relatively comfortable existence - say for the next 10 years - till 65.  

     Food (cooked at home, say breakfast and dinner)

a) $400 per month per person  (for some fish, vegetables, pork, and chicken)
b) 22 x $ 10 lunch & once a week outside dining or movie say $30 per week - $ 350 
c) House maintenance (HDB SCSS)  : $ 80 
d) Transport (getting around) $ 4 per day so $120 per month
e) Sports drinks (to keep fit) $ 7.20 x 4 : $28.80
f)  Household items : $ 240 per month (oil, rice etc.)
g) Utilities (for flat) : $ 200 per month 
  
So totally, he or she would need $1,500 to subsist.

I will aim to come down and spend $2,000 per month, from a higher base. But I MUST adapt or face the harsh consequences later. 

Holidays in the neighbouring countries, maintenance of house items, medicines and reunion dinners are luxuries.  

Goodbye to Holidays in Venice ; Dior Shop near the Piazza St Marco 

Dec 5th 2017  

Big ticket ,medical costs and luxury items are the killers to long term retirement. So you and I must be mindful of them ; seperate the MUST HAVE from the NICE TO HAVE and live below your expectations.

It will be painful at first ; but once you can live with the baseline, the rest is all upside or
easy. Everyone has the capacity for living enjoyment. Not everyone can take the hardship life throws at you.