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Old 18-09-2019, 09:01 AM
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You can surely retire. $500k is a lot of money to spend over 10 years. Most likely you will not spend that much. The most $300k over 10 years. So you can keep the $200k. Your cpf life gives $2k pm, thatís a lot for one retired person if you spend wisely. Donít splurge on unnecessary stuff. You can cook simple meals too. Cheap to cook yourself. So go ahead and retire at 55! You are successful! Retirement is all about your lifestyle. If you eat at restaurants every day, drive a car and go for holidays every 3 months, then even $20k pm is not enough for retirement. Lol.


Quote:
Originally Posted by Unregistered View Post
I want to retire at 55.
My home is paid up.
I have $500k cash savings.
This cash to spend between 55 and 65.
I will spend $1.5k pm for food, insurance and utilities. $180k over 10 years.
At 65, I will get my CPF Life, $2k pm for the rest of my life.
I lead a simple life.
No car, eat cheap and healthy.

I have many things I want to do during retirement.
No need to spend much money.
I like to read. Can go library. Free.
I like to jog. Free.
I like to go to the park and exercise. Free.
I like to watch movies. Not free but can afford.

Can I retire at 55?
Any advice?
Thank you.
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