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Old 13-11-2017, 11:44 AM
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This debate on how much is enough for retirement is a never ending one. The simple answer is it depends on your desired retirement lifestyle. For those who need a basic retirement lifestyle, you don't need much. But there are those who want a luxury retirement which means they need to save millions before they can retire.

For the basic retirement, $2k pm for one person or $4k pm for a retired couple is definitely enough. This assumes the couple is debt free and has paid up their retirement home. They will either eat at hawker centres, food courts or cook at home most of the time. They take public transport and contented with holidays in nearby countries.

For those who want a luxury retirement, then they will need $300k pa - $500k pa in passive income. This assumes they live in a bungalow, travel by first class, holidays all over the world staying in 6 star hotels, eat at high end restaurants every day, etc. They will need millions to retire.

For those who are not so well to do here but want to have a good retirement, they can always consider retiring in cheaper countries such as Thailand, Malaysia, Phillippines, rural China, rural India, Cambodia, etc.

You choose.

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