I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!

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"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Monday, 16 June 2008

How is much is needed in 2008 to drawdown at 64?

The CPF Board said the new CPF Minimum Sum will be S$106,000 – up from S$99,600 currently. CPF Members who set aside this amount will get a monthly payout of S$910 from age 64 for about 20 years

I think probably the CPF Minimum Sum is just sufficient for one to live simply from age 64 for about 20 years without other income. To live a better quality of life, one could use 1.x factor times S$106K to determine the estimated nett worth one should accumulate in 2008 to start drawdown at 64. I believe CPF is assuming one will retire at 62.
Posted by Createwealth8888 at 20:12
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