Category: retire]SG

living cost: SG ranking]top cities: expat^locals perspectives

Posted on by tiger40490

http://www.bbc.com/capital/story/20170407-is-singapore-really-the-worlds-most-expensive-city questions why EIU’s index puts Singapore as world’s most expensive city.

In the EIU’s index, Singapore stands head and shoulders above the world’s other cash gobbling metropolises for one reason — cars

Those who claim Singapore is outrageously expensive often use a biased “basket of goods”

[17] sg as#1 retirement destination #Dilip

Posted on by tiger40490

See also

Hi Dilip,

After our chat, I wrote down my reasons. Singapore and U.S. (perhaps near NY) are two of my most likely retirement destinations. The advantages of Singapore include:

  1. in-patient medical — .. care is subsidized (for Singapore citizens), including all major operations and hospitalizations. In some cases (like mine) there’s no deductible or co-insurance and no claim limit.
  2. climate — My wife hates cold weather. I will, too, when I get older
  3. cost level — Excluding housing and cars, most everyday expenses are 15% to 30% cheaper than U.S. so our savings are more significant.
    1. Stable inflation. I have little worry about inflation in Singapore.
  4. nanny sate — Essential services from government. Singapore government is known as a nanny state, esp. attentive to senior and low-income citizens’ needs — maintenance; out-patient health care; disaster management; taxes ..
    • Shrewd fiscal policies. Government won’t run out of money and cut services
  5. My wife can work part time till an old age, as a Chinese teacher.
  6. Chinese communities — My wife much prefers Chinese communities. There are a few Chinese communities in NY area but we can’t afford the housing cost therein.
  7. My wife has a large extended family in China, so we could visit them easily. My mother may also live a very long life, and she too has an extended family in China.
  8. driving — No driving required when we grow old. Excellent public transportation. I lived in Singapore for about 20 years, never owning a car.

##[19] SG advantages for%%retirement, again

Posted on by tiger40490

k_X_car_dependency

This is a fresh new look. Even if it offers nothing new, it is useful as a re-fresh and re-interpretation (reinterpret_cast:)

  • lower labor cost for most services
  • driving — much less required
  • medical — much cheaper than U.S.. see separate blog
  • pTax — virtually no impact on retirement cash flow
  • higher efficiency not only in government
  • Some eg@SG gov service relevant to retirees —
    • gov public service hot lines — takes a few seconds to reach a live person
    • renovated exercise corners in HDB estates
    • cpf retirement roadshow — no such thing in the U.S.
    • health promotion roadshows

old folks don’t live in isolation. I can see many (me included) need company and human interaction. Unlike some old folks, I don’t prefer to retire in a rural area.

Some common complaints against SG as a retirement destination:
* small economy, not “strong” enough, but I feel China and U.S. are actually more unstable
* small space
* too hot
* age-friendly jobs are mostly for doctors or manual laborers

[16] SGP+MYS: 2 retirement destinations #R.Xia,AshS

Posted on by tiger40490

See also Malaysia: my#3 retirement destination

Ashish pointed out that SG is the best retirement destination in the world for me. Miles Yang agreed SG is a good choice for me.

XR,

I said Singapore wasn’t a popular retirement destination but there are still some advantages.

  • familiarity. Reliable government and service providers, much needed when we are no longer so capable and resourceful. Those Singaporeans who retire elsewhere usually know the destinations well. I don’t, so Singapore is my #2 or #3 choice.
  • high-quality but Relatively low-cost health care. When I go to a Singapore hospital I never worry about /burdensome/ bills I can’t afford.
    • ** medishield covers all hospitalization costs including pre- and post-hospitalization.
    • ** My kids and wife were hospitalized a few (like 5) times. About $400-$600/day total.
    • ** polyclinic xp: elderly healthcare
    • ** Emergency treatment costs $110 per visit on average, including medicines.
    • ** Specialists consultation costs $100 on average.
  • Singapore employers are traditionally open to old workers esp. in the service industry.
    • ** Low wages, but I don’t mind. Singapore features very low unemployment rate so Those low-wage service jobs always need someone but few young people want them.
    • ** It would be ideal if we could find a higher paying job in our 70’s, such as teaching or research.
  • stable inflation (ignoring properties) and currency. Remember my CPF Life and HDB rental will be in SGD. If income is in SGD then my expenses had better be in SGD.
  • rent out our HDB home
  • CPF Life.
  • can invite our parents to stay in Singapore long term. When I retire, my mother or mother-in-law would be around.
  • many cities build street fixtures for wheelchairs or the blind, but only SG government maintains them!
  • maid — low-cost domestic helpers from SEA countries, esp. if retiree needs a human helper (ElderShield). Miles Yang told me no such maid service in China. This kind of responsibility falls on the next generation.
  • Walking distance — (Ashish pointed out) No driving required when I’m old. Excellent public transportation. I lived in Singapore for about 20 years, never owning a car.
  • ==== less specific, high-level keywords:
  • street safety
  • efficient government
  • nanny state — The older I get the more I would appreciate it.
  • convenience