Why many people think having over $600k is enough to retire on

Quick Summary:

This is based on the simple calculation that it would provide $2,500 a month for expenses from age 65 to 85.

That precise amount wasn’t pulled out of thin air: It was the sum that came up in a poll of 3,000 people here who said they would feel financially free if they had this much cash at their disposal.

Insurer Singlife’s poll is spot on in sounding the alarm that retirement planning is a long-term affair because most people usually need around three decades of working and saving to set themselves up right, says the writer.

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Article Details

Author / Journalist: Tan Ooi Boon

Category: EconomyBusiness

Markets: Singapore

Topics: Insurer Sounding Singlife’s Media Poll Retirement People Alarm Planning Limited Spot

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-02 @ 05:00:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 150 words

Reading Time: 1 minutes read

Sentences: 6 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 25703561

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