Quote:
Originally Posted by Unregistered
We are an early 50s professional couple. We plan to retire at 55 after downgrading from our condominium unit to a four-room HDB flat. We should get a net $500k after the transactions. We will collect CPF of $200k. So we will have $700k to utilise for our spending from 55 to 65. At 65 onwards until we die, we will receive $5000 pm or $60k pa. Our spending will be about $3.5k pm or $42k pa. |
Excellent retirement plan! Downgrading from an expensive home to a cheaper home is a good way to monetise your property. We are asset rich but cash poor. So by downgrading we can get cash. Those living in big
HDB flats can downgrade to a small flat when they retire. Enjoy your well deserved retirement! Congratulations!