Sunday, 29 November 2015

Depending On Our CPF OA For Sustainable Retirement Income For Life From 60 to 80???


Using Yahoo Personal Finance Calculator

Read? How much will I need to save for retirement?

We will need to become an ordinary CPF OA member Millionaire to have enough money in our CPF OA account for a sustainable retirement income for life at $48K annual living expenses as of today cost of living. 

We should note that the median monthly household income in 2014 is $8.3K and median monthly personal income including CPF contribution in Jun 2014 is $3.8K. 

$4K should be comfortable for retired couple with no other financial debts or dependent burden.



 



 

5 comments:

  1. More like $2 m for me to live comfortably and for traveling

    ReplyDelete
  2. Family of 2 - husband and wife. Exclude children

    ReplyDelete
    Replies
    1. How much per month to spend?
      2m to last how long?

      Delete
  3. Yeh, I intend to preserve the capital to form a trust for future generations. I plan spend about ~$100k per annum.

    ReplyDelete