Quote:
Originally Posted by Unregistered
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.
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That's why there is a savings of $500 pm to take care of inflation. Also, non essential expenses like holidays can be reduced if needed. On top of that, at 65, when the
CPF Life kicks in, a retired couple can get $3500 pm if they choose the highest payout option. So, don't be overly worried.