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04-07-2014, 12:04 AM
Hi gzbkel
We can only do so much to prepare finances for retirement. What is known should be calculated first, and these should be prioritsed accordingly based on needs vesus wants.
Advances in medical treatment may cost more yet it can also cost less. Open heart surgery in the 1970s cost more than US$200,000. But now it cost less than US$100,000 and its been done almost anyway in the world.
Hi flinger
Utilities costs the same for 1 or 2 people.. if you leave the aircon running 24/7 The amount of $300 is a high estimate for a HDB flat. In most cases it should be below $200.
Cost of holidays is based 2 pax, that is $700 for 2 people per month... ( girlfriend , wife, chump..no fun travelling alone, so I have to pay if I want them along...)
These numbers are dependant on what one values as high priority... the car can go if you dont see a need for it or the holidays for that matter. As for toothpaste, clothes, soap.. any excess from the other items will cover these costs... clothing for older folks is quiet standard.. I dont see a high propbablity in wearing Prada or Zegna suits.
We can only do so much to prepare finances for retirement. What is known should be calculated first, and these should be prioritsed accordingly based on needs vesus wants.
Advances in medical treatment may cost more yet it can also cost less. Open heart surgery in the 1970s cost more than US$200,000. But now it cost less than US$100,000 and its been done almost anyway in the world.
Hi flinger
Utilities costs the same for 1 or 2 people.. if you leave the aircon running 24/7 The amount of $300 is a high estimate for a HDB flat. In most cases it should be below $200.
Cost of holidays is based 2 pax, that is $700 for 2 people per month... ( girlfriend , wife, chump..no fun travelling alone, so I have to pay if I want them along...)
These numbers are dependant on what one values as high priority... the car can go if you dont see a need for it or the holidays for that matter. As for toothpaste, clothes, soap.. any excess from the other items will cover these costs... clothing for older folks is quiet standard.. I dont see a high propbablity in wearing Prada or Zegna suits.