if you got that 100k in spare cash savings.. and it's for
yourself, you're good to go.. provided you don't gamble a lot on
4D, toto, horse, etc.. can put in bank earn interest then live on
the interest lo.. :)
after setting aside around 30k for grand funeral.. maybe not
enough.. :P
do you realise that it is no longer relevant to put ur $$$ in the
bank to earn interest? now the interest rate is super low, like
0.002%.
100k would only earn you an interest of $200. hardly enough for
you to live on for the whole year.
a hospital stay would do pretty well to wipe out that 100k. now
that there's the means testing scheme. gahmen would say that with
$100k savings, you can certainly afford to pay high med fee.
assuming that if you retire at 65, and taking into account for
inflation, medical fee due to old age illness, it should last you
5-10 yrs, depending on how frugal you are.
and since MM, SM and PM all don't support the idea of a welfare
state, it is unlikely that we will have any welfare system to fall
back on when your savings run out.
So, the moral of the story : you better die before your savings
run out,
OR you just keep working until you die
OR make sure that you have rich and filial children to support
you.
