It has been assumed that the typical household of those aged 65 and over contains two people.
For those aged 65 and over, the average household expenditure was $2,154.50 in 2007/2008.
Basically, we can add in annual inflation rate of 3-5% and plus some buffer to derive our own household expenditure for two old couple.
Read? Retirement Income for Life??? (4)
Requirements for Retirement – How Much is Enough?
May be we can make reference to Singapore Department of Statistic's Household Expenditure Survey in 2007/2008 which determined the average monthly household consumption expenditure.
In this survey, household consumption expenditure was defined as "the value of consumer goods and services acquired, used or paid for by a household for the satisfaction of the needs and wants of its members" on a monthly basis.
The average monthly expenditure per household by age group as below:
It has been assumed that the typical household of those aged 65 and over contains two people.
For those aged 65 and over, the average household expenditure was $2,154.50 in 2007/2008.
Basically, we can add in annual inflation rate of 3-5% and plus some buffer to derive our own household expenditure for two old couple.
...
It has been assumed that the typical household of those aged 65 and over contains two people.
For those aged 65 and over, the average household expenditure was $2,154.50 in 2007/2008.
Basically, we can add in annual inflation rate of 3-5% and plus some buffer to derive our own household expenditure for two old couple.
