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Old 25-05-2023, 07:50 AM
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Originally Posted by Unregistered View Post
Middle class couple, 60 yo. Retired from our corporate jobs recently. Our 4 room HDB flat is mortgage free. Worth $600k.

We have a modest retirement lifestyle. Sold our car. Our expenses now $40k pa. We have cash $200k to spend between 60 to 65. We also have spare savings $150k (kept in fixed deposits) for stand by for any emergency needs.

Our passive income at 65 is $5k pm ($60k pa) from dividends and CPF Life.

We enjoy our retirement lifestyle now with lots of free time and relaxation. Stress free life. We are happier now.

If we need more money we can downgrade to a 2 bedroom HDB flat for the elderly or we can rent out our two spare rooms. However we donít think we need to exercise these options as our expenses are fully covered by our retirement income. Our passive retirement income is more than our expenses. We are financially independent.
Thank you for sharing. You have inspired us. We now plan to retire early when we reach 55 soon. We can downgrade from our condo unit and then buy a 5 room HDB flat. We will also collect our CPF at 55 after setting aside our CPF Life. After downgrading and taking CPF we can get $800k cash. From 55 to 65 we will spend $500k. From 65 onwards our CPF Life will fund our retirement until we pass away. We hope to spend more time together and rest more. Our health is not so good.

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