Retirement savings goal

Retirement savings goal:

I’m far from retirement but I have only NT 1 million. How many of you are close to the above goal ?


How should the average Taiwanese accumulate these amounts even if he worked every single day of his life until death without any retirement given the local wage averages? And why would the average Taiwanese need so much money to fund retirement?


NT$44,444 a month for 30 years. Makes sense if you retire at 65, with no kids to look after you/pay for you.

It also means you would have to save NT$44,444 per month for 30 years, unless you invested very very well.

This is only if you’re keeping money under your mattress. Anybody planning for retirement should obviously be investing in some form, which could easily reduce contributions by at least half.

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It seems to me that while North American people are used to dumping money into funds for retirement, very few people in Taiwan seem to do that (from my informal polling of friends). A lot seem to keep it in low interest bank accounts

Only 16 million more to go for me.


It’s not really as he you make it sound like. People start investing and get a return on that investment and most people get a decent amount in inheritance.

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Taiwanese are very frugal at saving and conservative at investing. Pays off in the long run when they do it for 30-40 years.

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The average person in most countries will be unable to save this amount. Even the median retirement account balance in the US is probably significantly lesser than 500k USD…

$65K is the median. Sad, but not surprising.

Not even thinking about it. I got about 10,000nt in the bank.

I do not think I will ever retire as even saving 100,000 is a problem given the wage structure here.

I’m curious for anyone in the know… what is Taiwan’s retirement plan for those that are poor without retirement savings or family? Do they give enough to live on?

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So if you started at age 21 and wanted to retire by 65, at a 5% annual compounded return rate you would need to save about $500 USD per month. That is a lot for someone making less than $2000 USD per month, but doable for someone living at home when young. If course then you have people like me, who finally got around to starting a retirement plan in their mid-30s or later. We have had to play serious catch-up, but doing a 401k through payroll deduction with partial company match has made things it less painful. But doing it this way we will have to pay taxes on distributions once we retire, so will need to account for that in our target. Does Taiwan have something like a 401k these days?

I thought Taiwan has that retirement thing but I don’t know how it works other than being a regressive tax.

I think most Taiwanese live paycheck to paycheck. The wage structure and cost of living structure here makes saving 500 USD a month impossible. Most here don’t Eben make more than 800 a month. And if you are young you aren’t going to save 70 percent of your paycheck on retirement.

I think most here are going to have no retirement fund unless they’re rich.

Is that assuming you have your own place, or have to pay rent? Any kind of investment returns from what you have saved up? Is that per person, so if your married, it needs to be 2x? How many years are they expecting you to live on that? are they assuming you live for another 10 years or 40 years?


I’m paying for my house. I consider that part of my savings. I also get the regular pension and match it with an extra 6%. Wont be much in the Canadian general pension.

what about real estate?

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Well real estate is expensive in Taiwan

And with most youngster making below 30,000, how do you expect them to save towards that? Considering that they also have to pay their parents too!

And banks are also coming out with “house retirement”. Meaning bank takes your house after you die and they give you 30,000 a month or something to live on. Sounds parasitic.


I cannot read the full article, but is it for a single person or a couple? Any such number is meaningless without considering personal circumstances.

Perhaps people in my circle are not “most Taiwanese” – I know very few Taiwanese who live paycheck to paycheck.

What?! Are you sure you are talking about Taiwan?

it’s called reverse mortgage,common in many countries these days.