Quote:
Originally Posted by stoicism
Actually my number is quite close ($1.6mil). And I think it is exactly that many singaporeans don't have that number that's why they keep working as long as they possibly can.
Basically $1.5-1.6 per person is what you will need realistically to stop working right away with no concern about long term retirement (i.e. financial independence). For anyone who doesn't have that number it means that their savings, however much they currently have will, may not be able to last them in perpetuity.
Of course if you know exactly when you will die, then you don't need to plan for financial independence in perpetuity, in which case you can likely get by with a much smaller number.
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Bro stoicism, may I ask why you need $1.6m at 65 yrs y.o? You got wife and kids?