Wise words!
$1m nowadays dont go very far. At $50k pa expenses, it takes less than 20 years to eat up $1m (with inflation). If you retire at 50, 20 years mean you will only be 70.
Similarly, $50k pa doesnt buy you much. Most families with children still schooling would need at least $60k to $80k pa.
With a car and maid, the expense will go up to $120k pa or more.
Quote:
Originally Posted by Unregistered
Thank for replying. There are so many people posting with a few million still not retiring, how could I. My kids still in primary sch. That petty amount will be eaten up by tuition, uni fee. I think still need to slogged for 13 years before retirement.
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