How much does a 65 year old retired couple today need?
Assuming no more mortgage and debt free, no car and no maid,
1. Food - $500
2. Utilities - $100
3. Public transport and taxi - $100
4. Holidays (pro rated) - $300
5. Helping the poor/donation - $50
7. Healthcare and insurance - $550
6. Miscellaneous - $200
Total - $1800
As you can see, a retired couple who lead a healthy, good life don't really need much.
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