The stark contrast between DBS and HSBC's retirement figures is thought-provoking. While DBS suggests S$550,000 is enough for basic retirement, HSBC’s S$1.87 million reflects rising costs, lifestyle goals, and healthcare uncertainties. Personally, I feel S$550,000 might cover the bare minimum, but it leaves little room for emergencies or a comfortable lifestyle in expensive Singapore. Even S$1,600 a month seems tight for long-term peace of mind.
I see myself as middle class, aiming for a balance between modest living and some lifestyle flexibility. I want to afford quality healthcare, travel occasionally, and not stress over daily expenses. My target is likely closer to S$1 million or more, depending on inflation and how long retirement lasts.
Both numbers serve different purposes. It is important to define our own lifestyle goals and risk appetite. For me, retirement planning is not just about survival, but securing peace of mind and freedom of choice.
@Tiger_SG @Tiger_comments
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