When I retire, I need sufficient cash to indulge with my daily activities. So I have been calculating the amount of money I need to live for the rest of my life in peace.
Roughly, I would need RM5million cash in my fix deposit account to have a decent life. Based on a simple calculation of 3 percent return, this will come to 120K+ a year. That means 10K a month. That's not bad really.
However, if you look at the inflation rate, 10K in the future will have a spending power of 5K today. That's not much!
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2 comments:
how much to save now per year to reach RM5 mil in FD at 55 years old? It works out to be around RM130K per year for u & not taking into account inflation & NPV.
Gotta buy 4D wei!
I sendiri sudah nak RM 5mil. You satu kampung mana cukup? :D
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