Why Saving S$1,000 a Month for Retirement Could Be Your Biggest Financial Mistake—Here’s What You’re Missing!
His introspective look at his future lifestyle basically tells him that he has covered his retirement lifestyle today, even without touch his cash savings. If we factor inflation, that CPF LIFE Standard income would be closer to $900-$1000 monthly today if we consider inflation. Alex’s situation is pretty safe not because of whether the income covers his spending exactly but that this CPF LIFE income looks like a safety net over the income he can withdraw from their cash assets.
I felt the last consideration is there are still things not saved up yet. The family still has a $900,000 mortgage not paid off and in his mind, they still have to save up $400,000 in children’s education.
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