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jokes aside, 1GBPS broadband costs roughly $39/mth and a data hp plan is only approx $30-50 per mth and $50 being the mid high end plan. Surely $120-150 is more than sufficient. |
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minimum sum now is $166k (or thereabout), it could be $190k or $200k or $250k (depending how long you take to reach 55yo). and the annuity payout (CPF Life) by then would have more / less accounted for inflation. that said, provided you are comfortable with the amount CPF life is paying to support your lifestyle. more cash is always better :P |
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The moron said you need millions to retire. Crazy.
Like that 99% of people cannot retire. Stupid. |
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Hmm!? |
Care to share your recommendation? So how much do you think you need? Give us a figure.
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The BRS, FRS and ERS are increasing for each new cohort of people reaching 55 yo. The purpose for the increase is to catch up with inflation. Technically and mathematically, you can use any cohort to illustrate the effect of inflation. It is the same outcome. Yes, later cohorts will have more in their BRS, FRS and ERS, but so will the cost of living. |
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- food ($15 per day, so $450 per month) - transport ($100 per month) - hp + internet ($60 per month) - insurance ($400 per month) - overseas holidays ($2000 per year so $167 per month) - utilities bill ($90 per month) - movies ($25 per month) So, $1300 per month will be enough. $15600 per annum. |
This is realistic. Don't listen to the crazy moron who said you need MILLIONS to retire. Fool.
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Insurance premiums? CNY angpows (and in a similar basket -presents, CNY festival expenses etc) Household white goods wear& tear aka depreciation/replacement cost? Medical consultations for simple/chronic illness? If you honestly look at these 4 items, they could add in between 8-10k of yearly expenses. You are likely to need about $24k pa cash flow (in today's dollars) for retirement... |
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