Quote:
Originally Posted by Unregistered
Clever plan. But I caution you about retiring with only $800K in early 50. Got children, spouse or aged parents to take care of?
To live comfortably you will need about $5K pm or $60K pa. $800K will be gone in 13 yrs at most when you reach 65 yrs old. After that eat grass, but in S'pore no more grass hor.
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I don't need so much, $3k pm will do. I don't drive, go disco, gamble, drink, or womanize. No more mortgage to worry, also living in
HDB flat got many rebates. Food about $500 pm, utilities $200 pm others $800 pm. Can still save $1500 pm. If I want to, can rent out one room and get $500 pm. So total savings $2000 pm. Can go holiday once a year, only spend $2k.
I can buy dividend stocks to give me 5% per year or $40k per year (with $800k capital).
$40k per year means $3.3k pm, this should be more than enough.