Quote:
Originally Posted by Unregistered
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.
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I don’t eat much. I eat twice per day.
Food $10 per day ($300 pm), insurance $400 pm, utilities $150 pm. No mortgage, no debt.
The rest are for my other miscellaneous expenses. I’m a simple guy who loves to be alone. I like to spend my time reading. My
CPF Life will give me $2k pm, this is a lot for my simple lifestyle. I don’t go out and spend unnecessarily. $300k is more than I need to last for 10 years. If I really need the money, I can downgrade further. Buy the
HDB studio unit for seniors.