Personal Finance
Retirement Income for Life??? (10)
By Create Wealth Through Long-Term Investing and Short-Term Trading  •  January 26, 2014
Read? Retirement Income for Life??? (9) Knowing when enough is enough to get by? Make an educated estimation of how much is enough based on our past family annual expenses. If you don't have the habit of tracking your family annual expenses, make an effort to start now. See what Uncle8888 did for himself...
Those tail-end high expenses on the right of the chart are unlikely to happen again as Uncle8888 won't be paying for his grown-up children for their expensive overseas vacation. Right? How much is enough? Uncle8888's Magic Formula Expected Monthly Expense = (Highest ever monthly expense + 4 x Average monthly expense + Lowest ever monthly expense) / 6 = $X,XXX Annual Monthly Expense = 12 x $X,XXX = $YY,YYY Enough = 25 x $YY, YYY = $Z,000,000 ......
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By Create Wealth Through Long-Term Investing and Short-Term Trading
I am 62 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016. Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 3nd year Uni in SUTD. I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild. I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038. Cheers!
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