Quote:
Originally Posted by Unregistered
My wife and I can retire at 55. We can sell our condo and move to a smaller condo. This should give us cash of about $500k. Our CPF OA can give us $300k. So with $800k, this would suffice for our retirement needs from age 55 to 65. Beyond 65, our CPF Life annuity will give us passive income for the rest of our lives. We plan to volunteer and pursue our hobbies during our retirement years. We are looking forward to our retirement! |
This is a good idea. Many people downgrade when they retire as they don’t need a big home anymore as their children will have their own homes. For those owning a
HDB flat, they can downgrade from a 4 or 5 room flat to a 2 room flat. So we can get about $300k cash when we downgrade upon retirement at 55. If our
CPF OA have $200k, we will have $500k to retire at 55. Our
CPF Life will take care of us from 65.