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#**3128** (**permalink**) 09-11-2013, 07:01 AM

My wife and I have retired and we get a passive income of $5k pm. We have a small car and no debt. We lead a simple, comfortable retirement. Our spendings is only $3k pm. We cook our own meals, do the household chores and exercise in our condo gym.

Quote:

Originally Posted by Unregistered

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.