Quote:
Originally Posted by Unregistered
How old are you? And how young are your children?
If your kids are working and independent of you financially, and if you are already in your 60s, I would say you deserved to enjoy the fruits of your labour. But I would not described myself as successful. Not more than the next guy.
If you are young, with children still schooling and dependent on you, and some more living in a condo, then you will be in for a rude shock retiring with just $2.2M and with just $5.3K per mth passive income. University fees are on the up & up, so are general cost of living. Set aside any funds for medical emergencies?
So which situation are you in ?
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I would say 2.2m is more than enough to lead an above average life in Singapore. He did say he doesn't splurge on the unnecessary, not even overseas holidays.
If people like him are in for a "rude shock", I shudder to think what will happen to those who don't even have 100k in savings.