Quote:
Originally Posted by Unregistered
A retired couple who lead a humble retirement lifestyle will need only $3k pm or $36k pa, assuming no more mortgage and debt free.
Food, groceries and utilities $800 pm
Public transport $100 pm
Condo fees $300 pm
Insurance and medical $500 pm
Holidays $300 pm ($3600 pa)
Misc $500 pm
Savings $500 pm
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Inflation, my friend, inflation.
When I was 20 years old, chicken rice used to cost 25 cents.
Now, it is between $3 to 5.
What you have calculated is based on the CURRENT situation and requirements. lAll the stated costs will increase by the time you are at your retirement age.