I did a rough calculation last night. If I spend only $500 - $600 monthly and save the rest, after retire at 62, I rent my rooms out and I got at least $2k plus room rental, total at least $3k till I die (monthly). That means no more lottery betting, entertainment, new "toys", trips etc. So, worth to do so and will you do that?
possible to do so?
- Thread starter BBTM
- Start date
22 years later, 3k might be nothing for most of us if every things keep increasing like no tmrw. Maybe min $10 meal also possible by then.
At the rate things are going, not many people will be able to own their own homes, or have enough space/room to rent out to other people.
I would however be happy to live on a decent stable passive income without doing funny things.
I'm a simple person.
I would however be happy to live on a decent stable passive income without doing funny things.
I'm a simple person.Then you contradict yourself. Your own statement states the $, but u didn't factor in the inflation
I would assume one's savings are invested in some low-risk instruments that hopefully can break even with inflation.
Draw also no need to draw till intestine out mah ;p (convert from Chinese, haha!)
But life is short, don't know when go. I going for an adventure but those who earn higher than me, still want to save and never step out far enough. I don't earn much, but I plan well ahead if I need to.
Sion
Senior Member
Everything is doable if you're prepared to make sacrifices for long-term good and plan for it early.
All the best!
That amount is already what is demanded of me by my parents each month on average. hahahah... I think you are a young kid still with almost no responsibility to anything or anyone yet if you can live on just $500-600 heheh. Who is paying your water, electric,housing,internet,phone,possible medical,dates..etc?
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