Quote:
Originally Posted by Unregistered
When I read all the posts by the many high fliers here, I feel depressed.
I'm already 40 years old and yet I have only a property worth $500k.
Me and my wife's CPF totaled only $400k (including SA and Medisave).
Our combined annual income income is only $80k. How can we retire?
Do you think we can rent out our rooms in our retirement years?
Do you think we can $2000 from renting two HDB rooms when we retire in 15 years time?
Do we need to retire in a neighboring country while we rent out our whole flat?
Any ideas? Thanks. |
A few facts to ponder:
1. 40 yrs is not old. Haven't you heard? With affluence and better health care, people are living longer. 50 is the new 40, 60 is the new 50 etc..
2. Many people are already working into their 60s nowadays.
3. There are many more ordinary earners than there are high earners, meaning many will not be able to retire early.
4. The posts here are largely exaggerated, and likely to be from the same few posters. Some even answering / responding to their own posts.
5. Singapore is an expensive city to live in if one is not working
6. Inflation is consistently high and eat into your savings if not invested
Bottom line is you will not be alone when you are still working at 60. Cold comfort but better to prepare for it mentally