We are living longer than our parents and our kids will get even older. 100 years: here we come!
Your public pension will not be as generous as for your parents. There are fewer active workers to support more retirees
Most of us will face a gap between the cost of living in retirement and our pension income from public or corporate pensions
1. Overview of your financial situation
2. Savings and investment plan
3. Insurance coverage
The retirement amount is calculated for a 50 year old single female as the sum of future expenditures from her expected retirement and onwards. The monthly costs are set to a "comfortable" living standard in an urban area. Long-term inflation expectations are taken into account.
Assumptions: Life expectancy, retirement age, monthly living costs,
and inflation, respectively for each country:
Canada (Toronto): 88yrs, 65yrs, 48500 CAD, 2%
Germany (Munich): 87yrs,67yrs, 4094 EUR, 2%
Hong Kong: 88yrs, 65yrs, 49077 HKD, 2,5%
Singapore: 90yrs, 62yrs, 8425 SGP, 2,5%
Switzerland (Zurich): 90yrs, 64yrs, 5994 CHF, 1,2%
United Kingdom (London): 87yrs, 67yrs, 6013 GBP, 2.5%