Originally posted by Atobe:
Can anyone earning below $2,000 p.m. (before CPF deduction) still
save for his retirement ?
What is the monthly cost that has to be met from one's nett salary
?
Monthly salary $2,000
LESS 20% CPF - $400
[b]Nett Take Home: $1,600 x 12 months = $19,200
p.a.
LESS
Daily Adult Expenses
Daily Breakfast $3.00
Daily Lunch $4.50
Daily Dinner $4.50
Daily Transportation $6.00 - Total Daily Expenses : $18.00
TOTAL : 30 Day Expenses : $540.00 x 12 months =
$6,480 p.a.
2 Child Expenses :
Daily Breakfast $2.00
Daily Lunch $3.00
Daily Dinner $3.00
Daily Transport $3.00 - Total Daily Expense $11.00 x 2 =
$22.00
TOTAL : 30 Day Expenses : $660.00 x 12 months = $7,920
p.a.
School Fees per Month : $6.00 x 12 months = $72 p.a. x 2 =
$144.00
School Text Books and Stationary: $200 p.a. x 2 = $400.00
School Uniform - Annual Expense : $50 p.a. x 2 = $100.00
School Miscellaneous Expense : $200 p.a. x 2 = $400.00
TOTAL 2 child School Expenses : $1,044 p.a.
Monthly Utilities for Family of four : $200.00 x 12 =
$2,400 p.a.
Monthly Household Expenses: $112 x 12 = $1,344
p.a.
TOTAL Annual Expenses : $19,188 p.a.
Can those who are still Single understand the problems of
raising a family ?
[/b]
Indeed. There are some who earn just enough to get by, they
simply do not have any leftovers to save. Then there are others who
can save, and also invest wisely to make the money grow. Over 20
-30 years, the first group would still be at the edge, the
slightest push, and they may have to go hungry. The second group
can afford to retire early and enjoy their golden years.
