22 May '17, 12am

How much will your lifestyle cost when you turn 65?: Have you ever wondered about how much your lifestyle will cost…

how much your lifestyle will cost when you turn 65? ? How much do you think you’ll need every month to get by? $800? $1000? $1500? The folks at The Fifth Person ran a calculation on estimated living costs 30 years from now, and I thought it’ll make for a fun exercise to tweak it to something closer to us 90s kids. Let’s work out the numbers. To keep our calculations simple, we will assume that the overall rate of inflation is 3% (in line with existing data over the past decade, and what TFP referenced). I’m not far from hitting 30, so let’s use that as a gauge. In 35 years, we’ll be 65 years old, and getting $1,300 every month from my CPF payouts – assuming the full retirement sum remains constant at $166,000.

Full article: http://thefinance.sg/2017/05/22/how-much-will-your-lifest...

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