How much money one needs to retire on? I quot one ordinary couple who lives in a link house and drives ordinary cars: ten million dollars. (one US$ is about 3 local dollars)
Six women heard this remark. The only mathematical one, who happens to be a former banker, started calculating. Well, by conventional financial instruments, one could expect to produce $10,000 per month with $5 million. We started asking each other, none around the tea table needs that much to pay regular bills. Among the group, one careful soul said that if one is sick and requires expensive treatment then much more than that would be good to have on hand. Other than that, whoever made the claim either lives luxuriously or is filthy rich.
The retirement age in my country has just been raised to 60. Most women are happy for their husbands to work longer. Out of the six in the conversation group, two are looking forward to retire at 55. None of any of the group's children are married. The eldest single daughter represented is 32 years old. The eldest son found is 25. There is really no guarantee that retirement would mean having grand children to play with.
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