$2,2m is for 2 person, so he is not a multi millionaire. To be more correct, we should only consider the investible networth of a person (ie minus his primary residence). In that case, his networth is around $500k?
Yes, Singapore is a high cost city, but then many developed cities in the world are high cost places to live in. Only problem here is that we dont have a suburb to retire to.
So for $500k, spending $50k a year, his savings will run out in 10 years. Retiring at 55 means he will be back to work at 65. Sad yes, but better to be working than wasting your life away doing nothing
Quote:
Originally Posted by Unregistered
I think it's fkn sad that a millionaire (multi at that) in Singapore has to live such a life. Honestly, migrate over to Australia/NZ and get a big house in the suburbs for 1/2 the price of a HDB here. You can even maintain a car and pets if you so wish. |