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Old 30-11-2017, 07:48 AM
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You are the most successful among us since you can retire at 55. Many in this forum are still working hard in their 50s and 60s. Poor life.


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Originally Posted by Unregistered View Post
We are ready to retire at 55 because we have paid off our 3 bedroom condo's mortgage and our children are grown up. We are debt free too. At 55, we can also collect our CPF money in our OA.

We have been saving and investing for more than 30 years and now enjoy a healthy income from our investments and savings that would be enough for the two of us in retirement. Our passive income is $4000 pm while our expected expenses is $3000 pm. We can save $1000 pm ($12,000 pa) to take care of future inflation. Our passive income will rise when we reach 65 as our CPF Life (annuity) will give us monthly payouts.

Our monthly expenses for the two of us would include food & groceries ($800), condo fees, property tax and utilities ($600), public transport ($100), medical fees & insurance ($600), overseas holidays ($700), and miscellaneous items ($200).

We plan to do active charity work when our retirement starts. We believe those who are better off and more successful in life must help the less fortunate ones. This way our society will be a more compassionate society. Donating money alone will not be good enough, we want to be on the ground helping the poor and needy.

We do not want to work until our 70s as some may suggest as we might pass away in our 80s. 10 years of retirement after so many years of work is not good enough. We could also be sickly when we approach our 70s. We want to enjoy a longer retirement. We want to travel the world during non-peak seasons (a lot cheaper and less crowded than the typical peak seasons). We want to travel while we are still healthy and mobile. Our 55 - 65 age bracket is actually the best retirement period as we are not too old and still healthy to travel the world.

Besides charity work, we have listed a whole range of activities which will keep us busy and mentally active. We know of successful people who retired in their 50s and they are enjoying every moment of their retirement. There are also high flyers from the finance industry who retired in their late 40s after making a fortune. We look forward to join them.

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