Personal Finance
Is It Enough to Retire with S$6,000 In Monthly Expenses Given The Current Inflation Rate?
By ValueChampion  •  December 2, 2022
OCBC Bank released their findings from their 2022 Financial Wellness report on 22 November. In one section of the report, they conducted a survey with 2,182 participating working adults, ages ranging from 21 to 65 years old, on their preferred retirement lifestyle. Surveyees were presented with three different retirement lifestyles to choose from with three different price tags. These retirement lifestyles ranged from basic and essential to luxurious. Participants were then asked what their preferred retirement lifestyle was. ”Source Retirement Lifestyle A, the most basic retirement lifestyle: With such a lifestyle, one would expect to own and be living in a HDB apartment, commute by public transport, use government assisted healthcare services and be able to take up to two regional holidays a year. Retirement Lifestyle B is more of a middle ground. With such a lifestyle, one would own and live in a HDB apartment, commute by private transport, be able to consume a combination of private and public health care,...
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By ValueChampion
We distill sprawling marketplaces—for insurance, credit cards, bank accounts, and more—down to choices that represent a sweet spot for value—as in offering the features, returns, or experience we think you need for the smallest outlay. We ask: Is the return on a particular purchase or decision worth the cost or risk of that option, and how does the choice stack up against other options?
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