Quote:
Originally Posted by Unregistered
My wife and I are in our mid fifties with no dependants and we are retired from our full time jobs. We earn a passive income of $7k pm, below the median household income. Our condo is worth $1.9m and we have an investment portfolio and other assets. Our total net worth is $4m. So even with a net worth of $4m, we are still categorized as below median income household. How sad.
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With a net worth of $4m, you are a millionaire couple. Most probably, you are among the top 1% of households in Singapore in terms of net worth. Your $7k passive income per month is considered high since you are retired and debt free. Most retired couple would need an income of $2k pm since that covers their basic needs of food and utilities. Cheer up! You are a very successful retired couple in my view. I would love to be retired like you, I would be comfortable with a $4k pm passive income, assuming no debts.