Some years ago, one retiree friend told me he
had stopped working to enjoy life.
He said his savings and passive incomes were
enough to last him a lifetime as he had budgeted to spend no more than
S$50/day.
Now with inflation and cost of living breaking records here, perhaps this amount is no longer enough for basic living expenses. If still is, kudos to him 😊.
ST Editor Tan Ooi Boon’s latest book: Always
Have Enough Money-Not everyone can become rich. But everyone certainly can try to
avoid being poor.
No need to buy this book ($29). Its content can be summarized into one statement: Income must be more than expenses. So that you can contribute to CPF. Ignorance and wrong decisions mean you would lose money or your expenses always exceed your incomes. This means your retirement years will be “jia-lut” (worse-off).
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