Quote:
Originally Posted by Unregistered
I am retiring when I reach 55 after collecting my CPF. I will be getting about $200k from my CPF OA. Since my home is paid up, I just need $20k per year to last me from age 55 to 65. My CPF Life will give me $2k per month at age 65.
Food and groceries $500 pm
Public transport $50 pm
Phone $50 pm
Utilities $100 pm
Insurance $300 pm
Miscellaneous $100 pm
Total $1100 pm or $13,200 pa or $132k over 10 years |
Why need so much? You need less than $1000 pm for a modest retirement. When you are old, you don’t need so much food. Eat little, exercise, good sleep, no stress, be happy and you will have a long life. I know of people who work long hours and so stressful. They suddenly die before they can retire.