Quote:
Originally Posted by Unregistered
Property prices is now at record high. We can retire now at 55 if we sell our overvalued condominium unit (fully paid) at $1.3 mil and buy a 5 room HDB flat for $600k. Plus our CPF
we will have $800k cash to cover our retirement expenses from 55 to 65. At 65, we have our CPF Life and other sources of passive income.
We will have passive income of $5k pm ($60k pa) from age 65 till we pass away. |
Downgrading is a good retirement strategy. You get to monetise your private property and get cash for your retirement expenses. Most Singaporeans live in
HDB flats so it’s perfectly normal to retire in a
HDB flat. You can travel the world with your cash. Enjoy your early retirement. No need to wait until 65 years old to retire. Our life on this earth is short. Retiring earlier by 10 years is a great idea. You are still not too old to travel. People start to get sick in their 60s, 70s and die in their 80s. Life is short.