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Old 28-03-2017, 10:48 AM
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Originally Posted by Unregistered View Post
What you listed below is quite accurate for a simple lifestyle. For us, in addition to what you listed, we have the following items:

1. Maid - $1000 pm (salary, levy, insurance, medicals and air tickets)
2. Car - $1,800 pm (depreciation, road tax, insurance, petrol, maintenance, erp). We dont have to pay for car park in our condo.
3. Life concerts and shows - $100 pm (averaged out - maybe 2 such shows a year)
4. Parents allowance - $400 pm

We estimated we would need $7k pm or $84k pa. to support our retirement lifestyle. Currently our passive income is almost $150k pa, but we are not retiring yet as we are in the accelerated savings stretch of our working life. Where our liabilities and financial obligations are tapering off and our salaries have peaked. We will try and maximise this golden period for as long as we can. Imaging saving $350k to $400k a year is a lot to give up.
Your passive income is almost double your expenses. Even if you retire now, your wealth should continue to grow. You would be to able to reinvest half of your passive income. It sounds to me a worry-free retirement. What's stopping you from retirement? Is it purely the idea of giving up $350k-$450k? This is not a post about greed or materialism - I'm sure most will find it difficult to give up this kind of income. I'm just curious about the motivation of people working towards retirement.
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