How much does a person really need to have a comfortable retirement in Singapore?

“How much does a person really need to have a comfortable retirement in Singapore?” – I believe this is something that most Singaporeans would like to know and to have, a comfortable retirement (not luxury) life-style which most Singaporeans would deem to be pretty good enough for them!

According to Singapore’s household income statistics 2014 (from http://www.singstat.gov.sg/), your household would be in top 20% household earnings if your household income is about $14500 and above.

Also, according to Singapore’s household expenditure statistics 2013, household with that kind of income spends on average about $7000 per month. However, this $7000 pm figure includes spendings on kids and/or parents, so I would say a figure of $6000 per month for the couple’s retirement would allow them to maintain their comfortable life-style.  However, this is not to say that you can simply imply $3000 pm to be sufficient for 1 single individual for a comfortable life-style because the pooling of resources for 2 actually makes many things cheaper, hence to achieve a comfortable life-style for a single individual should be higher than $3000 pm (in contrast to a couple just needing $6000 pm).  Note that the $6000 pm should exclude costs of lodging (which should be $0 if the couple own their property they are living in and have fully paid up for the property with no property loan debt).