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Old 06-01-2017, 11:41 AM
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This means retrement adequecy depends on your retirement lifestyle. If you want to eat at high end restaurants everyday, travel by first class, go to Europe five times a year for holiday, etc, you will need to have $10m that generates $500k pa.

However, if you have a humble, heartland retirement lifestyle, you just need $30k pa.

Not surprising why some people cannot afford to retire because they are attached to their high end lifestyle and their status in the corporate world. They are attached to these worldly things.
Yea, but I think it's most people actually are living beyond their means during working days rather than they 'cling' to their lifestyle and refuse to downgrade during retirement.

For e.g. if a couple makes $200k and lives a lifestyle of 60-70% of ~$130k and save the rest they can in theory retire at 65 and still maintain the $130k lifestyle.

The problem with most Sg professional / manager couple is they make $200k and live a lifestyle of $190-200k. Savings too small, lifestyle too high so double whammy cannot retire in peace.

Most are just banking on paying off mortgage and renting out the condo and live on rent. But reality is a typical 1000sqft condo in Sg is only fetching ~$35k gross and ~$30k net rent, not anywhere near to maintain their current lifestyle.
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