if house fully paid up, use public transport and live frugally on the dividends at around 4percent pa, should be able to last a lifetime.
how much is enough for retirement for 2 person,
let's say the couple has 1M stock+cash
and 1M can last for how long?
Doubt it will be enough if you plan to stay in Spore because of the PAP's greed. They are a party of greed & will keep on increasing the cost of living in Spore.
Just look at the cost of water which they plan to increase by 30%. How is anyone going to do any kind of financial planning for the future with such a gov't in charge
how much is enough for retirement for 2 person,
let's say the couple has 1M stock+cash
and 1M can last for how long?
that's an increase of 30% over 5 years lah, which equates to about 5-6% per year. due to sinkies' abuse and wastage of water as they think they are either free or dirt cheap, cost of water should be increased by 6.9% every year or up to 69% over the course of 6.9 years.
The increase in water prices is just one of many other necessities being increased lah.
Other hikes like electricity, medical costs, rentals, minimum sum, ... etc, are increases that we can't avoid & will hit our pocket books.
An example of Death by a thousand cuts.
Look at the $$ requirement for medishield life. They are going to take it out from your CPF & if you don't have enough in your CPF they are going to prevent you from leaving the country. Leaving the country has become a necessity & not a luxury. Go to JB & you'll see many older Sporeans shopping there. I go there for cheaper haircuts, medications, ... etc
As long as you stay in Spore you are vulnerable to all the PAP increases.
that's an increase of 30% over 5 years lah, which equates to about 5-6% per year. due to sinkies' abuse and wastage of water as they think they are either free or dirt cheap, cost of water should be increased by 6.9% every year or up to 69% over the course of 6.9 years.
how much is enough for retirement for 2 person,
let's say the couple has 1M stock+cash
and 1M can last for how long?
Do u use 6% more water every year?do u take 30% longer baths every 5 years?no we dont,but one thing I can guarantee u is increasing every year is the population.we are being forced to pay more for less for goods and services and resources in our own country.