Now 2 million not enough to retire?

[hardwriter]

So we have many people on track to this? Guess most are property flipping expert or investment expert. Even you earn 100k on avg and spend $0 and work for 40 years is only $4mil

I guess most?

I think most people earn more than 120K per annum on average. Save a lot of money to build a multi million portfolio or property and stocks.

 

[hotamp]

its all abt lifestyle one lah, you every night cheong KTV, eat/drink at atas restaurant and have pig/dog friends.....if got gold mountain also not enough lah

 

[Nanonited]

I guess most?

I think most people earn more than 120K per annum on average. Save a lot of money to build a multi million portfolio or property and stocks.

Damn… im not even close then… really loser.

 

[coyote]

I want to fire asap, but now 2 million also not enough? I only have like 80k zzz

Siao. Might as well make it $5,000,000...

 

[Visor9999]

Like I said... People here got 200y of life span.. 99y hdb not enough ... 3m retirement fund not enough... Have fun... Living to 200yo, I am sure no one here can celebrate your bd..

Due to medical advances, next time humans can live way after age 100, so of coz 2m not enough for long term expenses

 

[dereth]

I dunno... most women nowadays feel that husband take home $4k not enough. She will nag him to work harder.

If all day sitting at home stuck at $4k passive investment income, while your wife still has to wake up 7am every morning to go work a job she hates, she eill not be happy.

I'm lucky my wife isn't most women.

She's happy with me taking care of our place and also loves my cooking.

 

[caterham7]

I want to fire asap, but now 2 million also not enough? I only have like 80k zzz

dbs suggested at least $550k
https://www.dbs.com/insightsdirect/landingpage/ideas?portsec=-1&portid=42438

personally don't need so much, as i try to keep monthly expenses below $1k

depends on your income and expenditure, recommend to do your own calculation, to get the best sense of where u are

 

[eAtNeAt]

If spend $6k a month, 2m can only last 30 years. Means can only retire at 60.

 

[hachi]

If spend $6k a month, 2m can only last 30 years. Means can only retire at 60.

If one plan like this... One can never retire... Everyone here keep drawing down a fund... 2m at 4% 80k a year... More than your 6k.

 

[eAtNeAt]

If one plan like this... One can never retire... Everyone here keep drawing down a fund... 2m at 4% 80k a year... More than your 6k.

Like that can only last 25 years. And not even accounting for inflation.

 

[iPod Jack]

Many here dun even can smell $2m cash holdings in their lifetime, yet saying $2m not enuf for them...

 

[hachi]

Like that can only last 25 years. And not even accounting for inflation.

After 25y you still have 2m... No?

 

[2Blogic]

when you get older, no need more health expenses ?

maybe need employ helper ley

GST won't increase forever etc...

a loaf of bread maybe $10

 

[Sen Sen]

Okay then minimum 4.5 million to retire.

 

[hardwriter]

Siao. Might as well make it $5,000,000...

Numbers dont lie.

If looking at reasonable retiring in 20 to 30 years time with steadily large inflationary numbers, 5 million is a barely reasonable number.

 

[Knightoftheblackrose]

 

[ahboy82]

How to hav 2m when moi income dun even hav???

 

[coyote]

Numbers dont lie.

If looking at reasonable retiring in 20 to 30 years time with steadily large inflationary numbers, 5 million is a barely reasonable number.

That's close to fear mongering...

 

[popsune1]

 

[Firstclass1188]

Many here dun even can smell $2m cash holdings in their lifetime, yet saying $2m not enuf for them...

Yes in reality I have seen so many ATM slips with $2.00 balance after a $50 withdrawal.