Excellent retirement plan. This shows you don’t need to have multi million dollars in the bank to retire. No need to work so hard until health is affected. High risk of dying early. So don’t be stupid. Lead a simple, relaxed life. To retire well, we don’t need a big expensive house or a million dollar sports car. Just need a small
HDB flat and travel by bus. Not much worries. Men are addicted to riches. Only the wise knows when to stop.
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Originally Posted by Unregistered
Here’s my retirement plan when I reach 55 in a couple of years. My net worth is tied to my condo (fully paid up) and CPF. No other investment.
First, I can sell my condo for $1.1 mil
Second, buy a 4 room HDB flat for $450k
Get cash $650k. Put in fixed deposits to get $20k pa in interest
I will spend $3k pm ($36k pa) in retirement from age 55 to 65, total $360k over 10 years. Income from interest and drawdown from fixed deposits account.
At 65, I will collect $2.5k pm ($30k pa) from my CPF Life. My CPF OA is about $200k, can generate cash of $5k pa. Fixed deposits $10k pa. Passive income $45k pa. This is more than enough for food, utilities, health care and public transport for one retired person. |