A DBS survey of 800 people showed that:
- 73 per cent of the people polled plan to retire between 55 and 65, with an average savings of $571,715.
- At the same time, more than 85 per cent of those polled expect to live on a retirement income of $3,500 per month for the next 15 to 20 years and more.
- But DBS said that there is a big gap between both sets of numbers as the average savings would only last 13 years and not 15 to 20 years.
My comments: 571715/(3500*12) = 13.6 years which is mathematically correct if the numerator and denominator are in real terms.
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