I will be retiring next year at 65. Prudent savings has build up a good nest egg. Based on conservative 3% returns I will be able to draw about 10k/month out of my funds over the next 30 years. 95 is a old age for planning but if I leave early the balance can be given to my kids.
Building nest egg is most important and many young people don't do this. I blame it on the new millenia "YOLO" culture, they only know to spend money when they get money and don't save for the future.
I am looking forward to enjoying my retirement with 10k/month. My monthly cash flow will be higher than 70% of Singaporeans, in fact it is even more than the monthly salary of my 2 kids who are only making 8k as professionals in their early 30s. I will not set aside any special money for them when I pass on as they are responsible for building up their own nest eggs.
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