mattlock said:and something to consider: if housing and cars are such a huge cost, why not just rent housing and take public transport?
Maybe we'll all be happier this way
Cars are more straightforward. It is, at the end of the day, likely to be a luxury item. Buy only if you can afford. Otherwise, use the public transport. However, housing is a tricky issue. Retirees need a place over their heads and without knowing exactly how long they can live, renting a place will without doubt appear less secure than having your own place.
For me, I feel the government should do more for retirees. These pple have spent most of their lives building Singapore, paying taxes, etc. The min they should be assured of is a decent retirement. Hopefully, all future increases in fares and GST will take into serious consideration these retirees...
Anyway, I digress...