Read? Retirement Income for Life??? (14) - How much is enough for retirement?
Let assume that Uncle8888 can work till 80 age old with pay cut for an old depreciating asset.
At 62, 10% pay cut of the last drawn pay at 61.
At 65, 30% pay cut of the last drawn pay at 61.
At 70, 50% pay cut of the last drawn pay at 61.
At 75 70% pay cut of the last drawn pay at 61.
At 80, totally depreciated. Gone case!
What will be his total earned income for working till 80 as compared to his current net worth?
Will he be losing his financial independence?
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