As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Sunday, 30 March 2014

Retirement Income for Life??? (14) - How much is enough for retirement?



Read? Retirement Income for Life??? (13) - Sharing with PowerPoint


The most practical way to know how much is enough for you to retire!!!


Instead of looking for that magical number as it may not be $1M, $2M or $XM for you and me; you should determine that magical number based on your historical family yearly expenses and make an educated estimation of how much is enough with inflation adjustment.

You should start tracking your yearly family expenses at least on high level basis if you haven't done so.

There is no excuse of not doing it as there is simple and easy way to do it.

One simple and easy way of tracking family expenses is to dedicate one bank account for family expenses e.g. GIROs, NETS, credit cards, ATM cash-out, online payment etc.

You credit part of your salary or bonus into this bank account and debit your all family expenses and spending from this bank account.

Every month you just need to download the bank statement once and copy it into your Excel worksheet to maintain it as historical records.

Whenever you have idle or spare time then you may like to work on these records to update your monthly family expenses.


Read? Two Bank Accounts? No, You may need Four! - (4)


See Uncle8888's tracking:












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