Quote:
Originally Posted by Unregistered
I am retiring next year. Settled all my debt. Living in a small apartment. Getting rid of the car since I don’t need it during retirement. My annual retirement expenses will be about $20k pa. I’m in my mid fifties. My cash savings of $300k will fund my retirement until 65. At 65, my CPF Life will fund my retirement for the rest of my life. |
300K cash savings, 20K PA? You need average returns of ~7% to fund and that's excluding inflation.
That aside 20K PA seems low for retirement, especially if unexpected expense come up. Are you well insured? That is the biggest risk as you age. At 1.5k per month, how much are you setting aside for insurance? It will not leave much for daily expenses.