A MILLION dollars may seem like a huge sum to those of us in our 20s, but it is an achievable retirement sum if you plan well. The real question is: will S$1 million be enough?

One way to answer this question, research says, is to multiply your monthly expenses by 300. The resulting number is how much you need to survive for 25 years, said PhillipCapital senior financial services director Louis Koay.

Assuming you retire at 60 and live till 85, you would need S$900,000 to provide for monthly expenses of S$3,000.