Quote:
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. |
Why did you tie up your capital in a 1.1mil condo when you could've bought a more modest
HDB to begin with and invested your cash in equities? You would've had over $2mil in retirement funds by now.