There is no escaping that we all have to work till very old. The problem is what kind of job can we do, what would our health be like and is there job for us as we get older.
Because of the uncertainties, it is thus prudent to plan to reach financial sufficiency by age 55 or at most 60. So if there is job for us, and if we are still able to work after 60, all this will be bonus.
On the other hand, thinking and spending like as if we can work till 70 or older is foolish.
I am 55, already I feel tired and not sure if I can continue to handle the same level of stress. At the same time, I think the company prefers to give opportunities to younger staff. Older staff like myself have to make way. Luckily I am more than ready for retirement as least on the financial front. Children are grown up, no loan, passive income of $100k pa and net worth $5.5m
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Originally Posted by Unregistered
50, 54 middle income couple. Total income $200k pa, total expenses $160k pa.
Our expenses are high because we support our parents (both sides) financially.
Accommodation - New condo, fully paid up. Car - Old car. Family net worth $2.5m.
Retirement plan at 75 - Rent condo out to expats. We retire in Maldives or Koh Samui.
Our rental income should be enough to finance our retirement on these islands till we die.
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