I see many rich posters here. Most people are however not as rich as these people. A typical family here lives in a
hdb flat, owns a small car, dual income and earns a total of $90k pa.
How much do we really need in retirement?
Today, if your
hdb flat is paid up, you don't drive, these are what you need for you and wife per month
1. Food and groceries (eat hawker food and home cooked food) $600
2. Utilities $100
3. Public transport (no taxi) (with senior concession) $50
4. Medical insurance $400
5. Medical expenses $100
6. Donations $50
7. Holidays $200
8. Miscellaneous $300
Total $1800 per month or $21,600 pa
So you don't need so much.