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  #13455 (permalink)  
Old 02-12-2022, 09:38 AM
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Thanks for sharing. You gave me a good idea to retire too.
I can sell my 5 room unit for $300k and then I can buy a 2 room unit for $200k.
I will then have $300k cash which I can spend for my retirement for 10 years. I also will get CPF Life about $1500 pm from 65 years onwards.

Originally Posted by Unregistered View Post
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.
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