Recently, I met up with my insurance agent for a thorough review of my insurance policies. I asked him does I have enough coverage. He told me that when I reached the age of 60, I should have at least half a million dollars either in saving alone or together with the life plan that I bought, it should generate about that amount. Half a million dollars isn’t enough at all! He told me if I want to retire comfortably, I should have at least one million dollar by then! I was blanked for a while.
The question here is how much is enough? What is our need when we aged? Lots of Money, Health, Happiness, a Life…or a little of everything? Let says we have the money, then what are you going to do with your money? Imagine yourself in the shoe of a 80 years old man/woman. Would your motivation be travelling? Fulfilling your dream? Buying a big house for your grandchildren? Learning a skill or… Maybe we can ask around the next time we make friends with some elderly folks.