Jasmine How much is sufficient for retirement?
How do you estimate the amount for retirement? Always have this question if it's too little or too much
According to this study (https://www.fullertonfund.com/documents/insights/Rethinking_Retirement.pdf), Singaporeans target $1.4 million for their retirement on average.
But honestly, $1.4 million is too overwhelming for me to deal with right now, so I'm aiming for 10 times my annual income for my retirement nest egg as of now. It's apparently a good rule of thumb to follow: https://www.fidelity.com/viewpoints/retirement/how-much-do-i-need-to-retire