While I was stuck in the jam earlier, something struck my head:
How much money needed to live comfortably for 50-years without working..
*Image taken from Google Images*
So the calculation is (all figures are in Malaysian Ringgit):
Fuel = 500/month x 12months x 50-years = 300k..
Change a good car every 10-years (at least) = 150k x 5 = 750k..
House utilities and maintenance etc = 2,000/month (is freaking a lot!) x 12-months x 50-years = 1.2mil..
Furniture and home appliances for every 5-years (at least) = 20k x 10 = 200k..
Food = 100/day x 365-days = 36.5k, roundup to 40k/year x 50-years = 2mil..
Entertainment = 100/day = same as food = 2mil..
Misc (clothes, extra expenditure, etc) = 2k/month x 12-months x 50-years = 1.2mil..
Total = 300k + 750k + 1.2mil +200k + 2mil + 2mil + 1.2mil = 7.65mil..
Round up (including rise in living expenses, inflation, etc) = Approximately 8mil for 50-years..
That’s roughly RM160k per year, and that’s for the living expenses of a single life…
Some friends said the figure is over-assumed because one doesn’t really need to spend up to RM100 on food and entertainment respectively. every day!
Well I’m talking about living comfortable without working, so I also have to presume one needs entertainment most of the days, if not everyday..
More of less we have to put it in the worst situation, else it wouldn’t be called living comfortably..The figures also exclude the cost of a home, considering you are already living in one, fully paid comfortable house..
Say a meal at an okay restaurant such as Ben’s, Italiannies, Rakuzen, La Bodega, Alexis, Chillis, and the likes of it, can easily cost you RM30 per person..
Considering you are a guy, single (or even if you are attached but not married), as a gentleman you need to pay for 2 person..A lunch or dinner meal can easily cost you at least RM50 per meal..
What about dessert? Tea-time at Starbucks? All are not very expensive, still affordable, but it’s not very cheap neither..
So a plus-minus daily estimation of RM100 for food and RM100 for entertainment is pretty reasonable..
Anyway, there figures are just some food for thought, don’t take it too serious, constructive comments are welcome.