Is 3,000 a month after factoring a 2% inflation enough for retirement in 2022? Assuming no debt.

Hi Anon,

3000 a month after factoring 2% inflation is this the future value? To have a better overview it will need to see your current age minus your desired retierment age.

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Assuming you are 30

Your desired Retirement age is 65.

that is 35 years. So inflation within this range need to factor in as well. meaning 3000 now will be about 6000 when you retire.
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After that you need to take a assumed life expectancy. Assume 82 (generally Women live longer, so you do your sum ok)

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so need to provide for yourself 17 years (inflation does not stop when you retire yes, so that you will need to have a buffer for that as well. Don't forget your CPF LIFE payout. So with all that in mind and computed you should be able to get a clearer picture

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Not many like to hear this but its always better to plan more than less for your retirement.

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Hope this helps.

If ur life style is basic, then it will be enough.