Why Saving S$1,000 a Month for Retirement Could Be Your Biggest Financial Mistake—Here’s What You’re Missing!
The first is most people are too anchored to their current lifestyle and the figured they guessed is closer to their current position in life. Most people are less introspective, reflective and cannot envision a more realistic lifestyle they desired that is different from their current life position.
To make it worse, you need to have the headspace to come up with a figure for each of those line item and the total amount.
Not many people does that. I think nowadays, I spend more of my time telling folks I cannot do this part for them and if you want a good income plan, you better be more introspective and figure this part out. I basically told my ex-colleague three days ago that this will be her major exercise if she wants to really know the mileage of her $550,000 in cash and $200,000 accessible CPF OA at 55.
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