Amount of Saving Required After Retirement If Remaining Single for Entire Life

I assume that some of my dear readers are single, but have you ever thought how much money you are supposed to save in order to enjoy remaining single for your entire life?  I found an interesting article about this subject to share with you today.


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According to an article, our national pension package will pay us about a half of monthly earning, and the provision starts from 65 year-old unless special arrangement is made.  So if you retire at the age of 60, there may be a period of 5 years when you may have to survive without pension.  In this case, say if you currently need 200K yen (US$2,000) a month, rough calculation shows that you will need to save 12 million yen (US$120,000) for 5 years.

On top of that, if you want to keep the 200K a month level of lifestyle after the age of 65 until 85, then 100K x 20years = 24million yen will be required.

This seems to be a very big sum of money, but this seems to be not enough…  if you consider the case of yourself being in a need of special care after your retirement, you could possible need additional 3 million yen or so on top of that.

Owww, it sounds like there is no ending of saving to secure perfectly money stress free life after retirement??(><)  I assume you may have almost all things you want by the age of 60, so you probably don’t need as much as 200k per month after the age of 60 years old??  Hmn, but you may want to do all traveling and stuff you couldn’t do before retirement??  …Well, we cannot just over constrain our current life by exhaustive saving policy for after retirement life, but it will always be better if we could save as much as possible…


What do you think about today’s article?

Please let me know about your country’s situation, too  ;-)


Source: web R25


This is JAPAN Style!