Retirement is one of the most important financial goals of an individual. However, most people don’t plan for it or think about how much they actually need during retirement. Besides a lack of urgency, another reason is that it seems like a daunting task sprinkled with lots of unknowns to calculate it. But you have little excuses now because the DBS digibank app provides you with the – a free and simple tool to guide you through retirement planning and more. What’s more, I will show how you can utilise this tool in this article. First, let’s create a scenario to see how this financial modelling works. Bill is a 38-year-old executive and his take-home pay is $5,000. He lives in a HDB flat with his wife and two children. His wife is working too and they co-pay the living expenses of the family. He drives a car and his overall monthly expenditure is $4,000....