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How much money would you need to retire?


Zanter
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The retirement calculator says I will need $423,000 by time I hit 62 to survive on 2k a month & hopefully mati by 77. Not easy to save that much unless no KTV, gambling etc now [laugh]

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Turbocharged

Assuming you don't drive and the house is fully paid:

 

And you spend $40 on food everyday and $10 on transport --> $50 per day

 

Utilities: Assume $200 per month

 

Phone bills: Assume $150 per month

 

Miscellaneous entertainment: say $300 per month

 

You need right about $2,000 per month (quite accurate). And thats quite abit! Some don't even earn more than $2,000 per month [dead]

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If inflation rate 3% a year, everything will double in 24 years time.

 

Chicken rice $6, soft drink $2.40, go toilet $0.40 [sweatdrop]

 

Then $2K = today's $1K

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No 2 million dollars is not enough, most smart people says we need 6 million dollars.

 

So most people should be begging on the road or have to commit suicide when they are old.

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No lah .... not commit suicide when old lah .... when got critical illness .... claim insurance first ... then if not enough ... then [lipsrsealed][lipsrsealed]

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But the chances of you being robbed, car jacked and severely injured are much higher too..hahaha

 

but then, if i retire in Malaysia i think i only need RM$200,000.... and can have car somemore [laugh]
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