How much money to lay down? A look at the financial planning of an average family

I. Family Composition

This family consists of parents and three children. Both parents are retired and the cost of living has become relatively stable. The children have all reached adulthood, with one already working and two still studying. None of them have to bear their own living expenses yet, but the parents have loan already saved up some money for them for future use.

II. Composition of living expenses

1. Catering

This family's expenditure on food and drink is relatively stable. Breakfast is $10, lunch is $25, and dinner is $20. Each person spends around $75 per day on meals. Together with the cost of certain fruits and snacks, the monthly expenditure on meals is about 2,700 yuan.

2. Housing

This family's home is fully paid off, but there are annual costs for taxes and maintenance. Housing costs add up to about $1,000 per month.

3. Transport

This family has not purchased a vehicle, but everyone needs to use public transport. Transport costs are around $500 per month.

4. Entertainment

This family spends very little on entertainment, except for occasional dinners and trips.

Financial Planning

This family's financial planning is relatively conservative. They believe that saving is the safest, so they save all their remaining income each month. They buy gifts for ploan their loved ones every year on festivals such as Women's Day, Mother's Day and Father's Day. They believe that storing their surplus money is the best way to reduce risk and increase their reserves. It is still about 10 years or so before they retire, so they are more at peace with themselves.

IV. Retirement Planning

The probability of this family living into their 80s is relatively high, so they need to plan adequately for their retirement. The parents are already receiving a pension, and they have three children to provide for their own pensions. Each month, they save about $6,000 for their parents' and their own retirement funds, and they will continue to save for another 10 years.