There are many talk on retirement. Actually, how much do a retired couple today need? Here is a calculation.

Assumptions:

1. Retired couple (65 years olds) do not have dependants, no more older folks to take care and kids all grown up.
2. Children (e.g. 2) are working and giving allowance of $250 to each parent. So, each parent will get $500 pm. As a couple, they get $1000 pm.
3. They do not smoke, drink, gamble and the husband does not womanize nor sodomize. These sinful things will cost you thousands of wasted dollars if indulged in. You will also get lots of diseases (e.g. cancer, STDs, AIDs, liver failure, Hepatitis, etc) that will drain your savings.
4. The flat, e.g. a 4 room flat, is paid up. No more mortgage.
5. No maid.
6. No car. Take public transport.
7. Debt free.
8. Keep fit with exercise and eating healthy food.

Spendings:

1. Food and groceries - $600 pm
2. Utilities - water, electricity, gas - $200 pm
3. Transport - $50 pm
4. Short holidays (pro rated) - $100 pm
5. Other costs - $200 pm

Total - $1150

So, if you have cleared your mortgage and debt free and do not indulge in sins, your spendings as a retired couple is actually very little.

Today, if you are 55 and have reached the min sum of $155k in your CPF SA, you will get $1,200 pm at 65. So as a couple, you get $2,400 pm and plus your allowances from kids you get as a couple $3,400 pm. This is more than your spendings. If you want more money, you can rent out your room for $1000 pm for each room and hence get $2000 extra. You can also do the lease buyback and get maybe $700 pm extra.

So, in total, you can get = $2,400 + $1,000 + $2,000 + $700 = $6,100 pm.

With this kind of money, surely you can retire in peace. Just make sure you DO NOT PERFORM SINS like drinking, gambling, womanising or sodomising (you will get STDs and AIDS).