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Old 08-11-2013, 02:47 PM
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Like that ah,

Upon retirement at 55, I will live 10 yrs (till 65) at the luxury lifestyle level, then downgrade to comfortable lifestyle till 75, and finally at basic lifestyle till the end.

Using linear extrapolation, I will need about $1.5m in total with zero $ left to give at the end of it all.

Quote:
Originally Posted by Unregistered View Post
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.
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