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.
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Retiring at 55 is just nice, not too early neither too old. If $300k is not enough, you can consider downgrading. Maybe you can sell your current home and move to a smaller home. This can maybe give you an extra $200k in cash.