I remembered
NTUC Income once defined the following:
Basic retirement lifestyle (stay in
HDB, no car, no holidays to "Ang
Moh countries, no maid): $3k a month for a couple.
Comfortable retirement lifestyle (stay in 5 rm or exec HBD or condo, a Jap car, no maid, 1 holiday per year to "Ang
Moh" country) : $5k a month for a couple.
Luxurious retirement lifestyle (stay in condo or landed, maid, a car, holidays overseas, restaurant dining once a week or more, club membership) : $8k per month for a couple.
To sustain the luxurious lifestyle for 30 yrs, assuming the couple retires today at 55, they need to have $2.5m now (with 3% inflation, and with 3% return on their $2.5m). If they want to leave something behind for their children, they need to have more than $2.5m.
Quote:
Originally Posted by Unregistered
Hi,
I find there is a lot of talk about retirement in this forum. I was just wondering how much does a retired couple spend per month during retirement, assuming there is no more mortgage loan or other debt to worry about and children are independent and working? Also assume staying in a 4 room HDB flat and no car. Here are my thoughts.
1. Food, clothing, marketing - $800
2. Utilities - $200
3. Public transport - $100
4. Internet, TV, Mobile phone - $200
5. Insurance and medical - $1000
6. Miscellaneous - $300
Total = $2,600 per month or $31,200 per year
Is this correct? Should it be more or less? Please comment. Thanks. |