What is the real number you need per month? I saw a comment that the amount, if you are in 30s, is $18,000 per month for your retirement. It is numerically correct if you use 4%pa inflation on $6,000/m for 30 years.
0:00 Introduction
How $18,000 per month and $5.4m target has been suggested before
If you invest $1,000/m at 10%pa for 30y, you'd only get $2.26m.
1:57 Present value vs future value
CPF full retirement sum inflates at 3.5%.
If the $5.4m target is unrealistic to many, is the biggest issue 4%pa or $6,000/m expenses?
3:34 Understanding expenses
What is the core expenses in your retirement
5:00 Deflation in retirement
How consumption changes from adulthood to old age
It could be due to expectation or just health constraints.
8:35 Don't be afraid to consume your retirement
Fear of outliving resources make people lean towards only taking interest/dividend from the investment.
10:14 Aiming for enough money vs excess money
Why a $1m at death bed is $1m too much
12:00 Fear of needing income at old age.
Lease sell back to HDB or reverse mortgage explained.
#retirement #retirementplanning #inflation #deflation
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About Josh Tan:
Josh holds a degree in Accounting from NTU. In 2016, he co-founded the financial education website TheAstuteParent to provide detailed insurance plan analysis and financial planning tips.
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