To us retirement does not mean we stop "living". It should not be for anyone.
We want to continue with our hobbies and interests when we retire, in fact we see ourselves doing more of those things. That said, we would still need a car. (Just one car instead of 2 we have now). We will also continue to have domestic help to clean house and cook for us, so that we have time to pursue our hobbies and interests. Right now we pay the maid $500 per month and another $265 in maid levy per month. This cost can only go up with time. In 10 years time, I wouldn't be surprised the salary of the maid goes up to $1500 per month.
We would still want / love to travel occasionally. So that would mean $10k - $15k annually for two retirees traveling in comfort.
We also love attending concert and live performances - CATS, MAMA MIA, etc.. This will continue for us in retirement.
Plus we do have a bucket list of things to do. They are going to cost money to see them out.
$13k per month in retirement (based on 2014 dollars) should provide us a good buffer for our retirement lifestyle expenses. The medical expense remains a big unknown!
Quote:
Originally Posted by Unregistered
You are very rich, multi millionaires! Congratulations! How did you do it? Are you both working in finance?
Why do you need so much at 65? $160k pa is like $13k pm. If there is only the two of you, why do you need so much? Food and other things should be only $2k pm. Are you planning to have a maid and drive a car during retirement?
I don't plan to have a car as I will find a studio condo next to an MRT station during retirement. We will also not have a maid as there is not much housework to do for two persons. |