'Even if the man spent only $1000 a month, he would need $240,000 over the next 20 years. And that is before medical expenses are factored in. Would that be enough?' Lim Boon Heng
How awfully wrong is the number. Even without taking medical expenses into consideration, he would need at least $480,000, taking into account inflation and the diminishing value of the dollar.
The minimum sum, to be adequate, must be raised continuously to $1 million at least. The people must be educated and be prepared for this.