Retirement Plan - Quality Retirement Life
| "Retirement" is a new milestone in life with mixed feelings for aged employees. The joy is to enjoy time with your families and grandchildren after working for decades. However, some people consider retirement is the start of dengeneration and is worried that they will have no income, job, status, friends and sustenance, which may lead to depression and affects family life. Therefore, the majority of elders think that health, money, home, harmonious family life and sustenance is essential for a quality retirement life. Is it possible to have quality life after retirement by merely relying on the MPF Scheme? Try calculating the amount you need for retirement. |
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| Estimated Monthly After Retirement (include Food, Clothing, Living and Medical Expenses etc) - As at May 2012 | HKD9,000 |
| Current Age | 23 |
| Estimated Retirement Age | 60 |
| Life Expectancy* | 82 |
| Estimated Investment Return After Retirement (include Deposit Interest Rates or Other Investment Returns) | 4% |
| Expected Inflation Rate | 3.5% |
| Monthly Expense After Retirement (Future Value) *First monthly expense when retirement age is reached and will increase by the inflation rate monthly |
HKD32,797.09
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| Total Amount Required for Retirement (Future Value) *The value at retirement is a future value and the effects of inflation has been included *Only estimates monthly expenses during retirement period and there will be no balance left after the retirement period. |
HKD8,197,593.11 |
| Total Amount Required for Retirement(Present Value) | HKD2,249,539.36 |
| MPF Scheme Total Value (Future Value)*Estimated according to a monthly contribution of HKD1500 and investment return of 5% | HKD1,927,755.24 |
The information as shown on this website is hypothetical and for reference only. It is not intended to constitute a recommendation or advice to anyone and is not intended as a substitute for professional investment advice.”
