The man is now forced to work to get a job to pay off his bills and house loan.
After all, one does need that huge chunk of money for a peaceful retirement. But even when you retire, it’s not wise to burn through all that money.
“He doesn’t think that his grandkids also have their own commitments. After all, it is not their responsibility to take care of an elderly man who has spent extravagantly.” “When he was speaking to me about his troubles, I kept quiet because I had advised him one too many times 25 years ago.”“If you don’t need to take out money, don’t touch your EPF savings. Today, to live comfortably after retirement, one needs one million. The cost of living is rising, exacerbating poverty. One million is too little, especially as targeted subsidies are being planned.”
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