$3.5k p.m, realistic or not?

It's a good and cool weekend R&R after a long week.

When we hear of people able to retire with $1k p.m., we would usually react that it may not be adequate.  I agree that we should not judge on how low or high?  

Agree that to each his own.  In the end, some may just cheer or jeer.

Web-search survey shows $3.5k p.m. is possible to retire with in SG for a household, maybe with no car and staying in hdb or frugal expenditure ?

I am a bit KS. If $3.5k p.m is enough, then:

My quoting of $5k p.m. is to pitch higher than the typical norm that $3.5k p.m. is enough.  Generally some better-off say the realistic monthly expenses, for now, is $5k p.m.  

I quite agree with this practical and realistic number.

Better to aim high, but expect the worst.

Certainly not $1k p.m. as my cohort had earlier shared and I shared earlier.   See my blog.

For his case, he stays in condo, have aged dependency and married.  

But for singles without any obligation, $1k p.m. may be enough; sure enough if one retire elsewhere like MY or nearby.

I don't need any numbers; but if the numbers seem not realistic, we just share it and discuss our blind spot.

~~~~

On tagging $5k, inflation-adjusted $10k per monthly as retirement expenses may be disturbing in year-20; it is indeed.

I use DBS Nav Planner.  These are real numbers, inflated due to projecting inflation cost.

That's why most are still employed; some worry for self sufficiency; some saving and accumulating for their children.

Comments

Post a Comment

Popular posts from this blog

Can retire with $1k monthly? got bluff me?

  Someone who is my cohort just retired last year.  He candidly shared that his average monthly expenses is less than $1000. Some background that I gathered: 1.  Married with a working adult child. 2.  Stay in condo; ever spinned n profited from few property sales. 3.  Still need to support aged parent with 4 siblings. 4. No car. So I did some quick calculation to see sure or not to retire with $1k monthly expenses. Think his $1k p.m. is thin retirement. Utility & PS, water : $100 p.m. Telco: $20 p.m.  MCST: $200 p.m. (where got so low maintenance?) Medishieldlife: $800 / 12= $66 p.m. (can pay by CPF-MA) H&S Shield Plan: $1200 / 12 = $100 p.m. (excluded $680 deducted from MA) Support his parents: $2000/5 = $400. Basic fixed monthly overhead:  100+20+200+100 + 400 = $820 With just $1000 p.m., net available for meal = $1000 - $820 = $180 p.m. (or $6 per day) Not forgetting that he just retired, he need to fully pay his last year personal income t...
Read more

13 Vitamins our body needs

  What are the 13 classes of vitamins that our body needs? The 13 vitamins your body needs are: vitamin A, C, D, E, K, B1 (Thiamine), B2 (Riboflavin), B3 (Niacin), B5 (Pantothenic Acid), B6 (Pyridoxine), B7 (Biotin), B9 (Folate) and B12 (Cobalamin). From the fruit-vitamin chart, these vitamins are available in fruits. Group1 : milk (6): A, B1, B2, B6, B12, D + sunlight Banana (2): B, E Tomato (2): C, K Group2 Egg (4): A, B12, D, E Beans/Nuts (): B1; B2, B, B6, E, K Oranges/Grapes: (1): C I am no Doctor.   Generally as one gets older, our absorption and consumption of vitamins may not be enough.  I hear of people adding supplements beside Multivitamin, Omega 3, 6 & 9 in their supplements. During my younger days, I was given cod-liver oil daily.   I remembered its taste.  Recently I tried to consume the same brand of Cod-Liver oil, it still tastes the same; so this brand is not so adulterated and authentic. ~~~~ One added Magnesium supplemen...
Read more

MM2H requirement

To participate in the Malaysia My Second Home (MM2H) program, there are certain financial requirements that applicants must meet.  As of my knowledge cutoff in September 2021, here are the general financial criteria for the MM2H program: 1. Financial Proof: Applicants need to show proof of financial capability to support their stay in Malaysia.  They are required to have a liquid asset of at least MYR 500,000 (Malaysian Ringgit), which can be in the form of cash in a bank account, stocks, bonds, or other assets that can be easily converted into cash. 2. Offshore Income: Applicants must also provide proof of offshore income of at least MYR 10,000 per month. This can be from pensions, rental income, dividends, or any other legitimate source. 3. Fixed Deposit: Upon approval, successful applicants aged below 50 years old are required to place a fixed deposit of MYR 300,000 in a Malaysian bank, whereas those aged 50 years and above need to place MYR 150,000. This fixed deposit is t...
Read more