When saving is not enough How many people around the world can afford to consistently save 20% of their income over a life time of employment. And how many can afford to save 33% of their income? This is a ridiculous amount of savings for anyone over a life time. The sad thing is that this amount is not enough for a peaceful and satisfying retirement. Not enough to live, travel and see the world for many Singaporeans. This is the plight of many Singaporeans. How is this so? What is wrong with the formula?