Online discussions explore the viability of living off savings without a job or property in Singapore.

A 53-year-old man, newly returned to Singapore after spending years abroad, has sparked an online debate about how long $800,000 can last in the city-state, particularly when living without any loans, a property, or a job. The man, who has no Central Provident Fund (CPF) savings due to his years abroad, is reportedly retired and prefers not to work.

The discussion started when a concerned friend posted a question on an online forum, asking how long the man’s savings would last under these circumstances. According to the friend’s post, the man has $800,000 in his bank account but is not working, and does not own a flat. He also qualifies to rent a one-room flat from the Housing and Development Board (HDB) with another single tenant for only $20 a month, with additional utility rebates. The writer then raised the question of whether $800,000 would be enough to sustain the man until the age of 83, citing the national life expectancy of 83 years.

In the post, the friend also suggested that the man might consider using half of his savings to purchase an HDB flat to generate passive income through rental, leaving the remaining funds in fixed deposits and savings bonds.

The post has sparked a variety of responses, with some forum users recommending that the man purchase a flat for long-term financial stability, while others argued that living with a flatmate might not be the most desirable option. Many comments pointed out that $800,000 could potentially last a modest lifestyle, but rising healthcare and living costs over the next few decades remain significant concerns. One commenter remarked that despite having $800,000, the man might still need to work for a few more years, especially considering his long retirement ahead.

The debate continues, highlighting the financial challenges of retirement without a steady income or property ownership in Singapore’s high-cost environment.