How Much Should You Have Before Retirement?

In my previous post, i already write about sandwich generation. In order to helping our children from sandwich generation, we should secure ourselves from financial problem in our retirement day.

In Singapore country, retirement is 65 years old and average mortality age of Singaporean about 80 years old. That mean their savings have to able to support them for 15 years.

The question is how much money do you need to protect your retirement day for 15 years?in order to answer that we need to know how much average money you need to spend each month? Because everybody have their own spend.

For example i make an assumption average spending for someone is $3000. That mean they have spend $36.000 each year. That means you need have about $550.000 in saving with the return 7 percentage each year. In the condition the inflation rate doesn’t have change.

If you have that condition, you will achieve your financial freedom because your monthly expense can be protect by your interest rate. You even don’t need to use your original investment ($550.000). no matter 15 years or 30 years, you still can enjoy your retirement.

Keep save and invest your money when you are young, to enjoy your retirement.

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