How to compute for the funds that you need for retirement

Alexandoy

VIP Contributor
Aside from the expected pension that you will receive every month when you retire there are other expenses that you need to spend on like the rental and utilities which constitute the household expenses. In our country the maximum amount of monthly pension is only $200 which is good for the food budget for a family of 4. That means you also have to prepare for the expenses that I mentioned above.

If you have 10 years to go before retirement then that is an ample time to save for your retirement. Based on the computation of one financial adviser the amount equal to the pension can give you comfort and convenience. Now the next step is to compute the estimated years that you will leave after retirement. That is a hard one.
 

Mika

VIP Contributor
By the time you retire, I think your kids are already on their own. Therefore, I don't think you will have to look after your kids. I think your kids are already in a position to help you by the time you are retired. When my father retired, I was already earning money and I was able to give him some money every month.
 
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