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Old 27-12-2016, 11:24 AM
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Dont use your own situation to project for the rest of the work force. You will be surprised at how much some people do earn.

Anyway, I am not suggesting $6m for everyone. It depends on what retirement lifestyle you aspire to have as well as how much you want to bequeath. You only need $3m if you expect to spend $50k pa in retirement and you still can bequeath $3m to your loved ones at the end of 30 years in retirement.

Many people made the mistake of retiring once their home loan is paid up, once their children become independent of them. This is the period where their expenses are the lowest and their savings is highest. They should prolong this period and they will be amply rewarded with accelerated savings. I am seeing and enjoying this period first hand!

Every year that we work, we are able to save for 3+ years of retirement expenses. This has been going on for a few years already.


Quote:
Originally Posted by Unregistered View Post
$6m at retirement? 99% of Singaporeans won't be able to make it. Your suggestion is plain stupid.
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