Quote:
Originally Posted by Unregistered
Our apartment is fully paid and we have about $300k in total in our combined CPF OA. We plan to retire in about two years when we reach 55. Our $300k will last us over the ten years from 55 to 65. Our CPF Life will provide us a total of $4k pm when we reach 65. We plan to retire modestly as we will no longer own a car and can cook our own meals. A retired couple needs only about $2k pm. |
Good plan since you have cleared your mortgage. But you will need at least $3k per month for two retired persons. $3k should cover your groceries and utility bills.