The main thing to worry about and plan for is inflation.
Even hawker food prices are increasing every year. The carrot cake I buy occasionally have gone up from $2 to $2.5 (25%) this year!
Read this:
A Wealthy Nation That Can't Afford to Retire
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. |