Actually, even in Singapore, we are so frugal, that if you exclude rent and my daughter's International School fees, our expenses are well below 1k.malcontent wrote: ↑Mon, 18 Jan 2021 2:28 pmI would never be able to retire on $2k/mo, that won’t even cover our vacation budget... plus we still have to put two kids through college, that isn’t going to be cheap.
Therefore, I’ve pretty much given up on the idea of retiring early - which is not a bad thing, at least I’ll have something to do.
This is the breakdown of our 2020 total expense:
Rent = 21.6k
Daughter's school fees = 10k
Income tax = 6.5k
Everything else = 8.6k
Total Expense = 46.7k
Total Income = 122.1k
Net savings = 75.3k
If we go to India, rent goes to 5k and school fees goes to 4k. All other expenses should be similar to Singapore, so 24k definitely doable.