Do you know how much you need to retire? Most of us have some large, random number eg 2m. But is there really a method or science behind this? And, can you really achieve it?

There’s a movement going around recently called 1M65 where it preaches about using CPF to attain a million dollars by 65. It certainly is relieving to know you have achieved 1m by 65 years old, but I believe it depends on the life you wish to live. Do you intend to retire abroad? In a rural or urban environment? Or do you wish to travel the world but having Singapore as your main country of residence? All these questions, when answered, will lead you to a clearer picture of how much you need to retire.

Cheers!