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 2 mil more than enough to retire

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ozak
post Jun 14 2021, 09:00 PM

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QUOTE(kons @ Jun 14 2021, 06:03 PM)
i will retire if my passive income from rental reach 10k

maybe i gotta save because 10k is not much.
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10k is more than enough even for 2.

When getting old, you don’t use that much money.

Make sure have enough insurance to cover your medical and health.
ozak
post Jun 14 2021, 09:13 PM

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QUOTE(James1983 @ Jun 14 2021, 09:04 PM)
Depend on the lifestyle you want.

When I’m old, I want to travel the world whenever I like

Like this quarter fly to Paris with wife (at least business class, since so old d), next quarter fly to visit kids studying in overseas etc.

Those cost quite a bit
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This is enough for middle class people. Even can holiday every yrs. Not a problem.

If you want above average, than 10mil also not enough. And nothing is enough.
ozak
post Jun 14 2021, 10:56 PM

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QUOTE(Lucas0323 @ Jun 14 2021, 09:56 PM)
If 2m with 1m generate 5% pa u can spend the other 1m for 10years with around 8.3k per month. After 10years your compounding 1m will become 1.6m and u withdrawal 200k that can last u another 4years with 4k per month and balance 1.4m compound again for 4 years. Naise.
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2m in Maybank. Div 6%. 10k every month. Till you die, 2m + growth still there.


ozak
post Jun 14 2021, 11:57 PM

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QUOTE(spacelion @ Jun 14 2021, 11:04 PM)
Insurance last until how old

No medical or whatever complications ? Everyday play golf / swim / eat healthy ?
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Last as long as you live.

Medical cost can bankrap you or huge burden to your family.

Doesn’t matter you Everyday play golf / swim / eat healthy
ozak
post Jun 15 2021, 08:15 PM

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QUOTE(SuperGampang @ Jun 15 2021, 10:11 AM)
10 bill also not enough. Just adjust ur livestyle based on ur saving. It will be enough
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You got to adjust way before you retire. Otherwise it is useless and back to big spending.

 

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