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  #7626 (permalink)  
Old 17-05-2015, 11:17 PM
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Very enlightening post. Makes me wonder why some people with passive income of $100k pa still thinks this is not enough. I think the problem is not the amount be their greed and attachment to this world. Attachment to wealth, status, pride, ego. A truly rich person is one with less needs, no need for status, wealth, pride and ego.

Originally Posted by Unregistered View Post
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.
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