Looks like a good plan to me. You are lucky to own a flat in JE, the Jurong Lake District (JLD) development will boost Jurong rentals and property values higher. There will be many FTs and expats working there. My retirement plan is to sell my landed in Bukit Timah and then buy a one bedroom condo near the Lakeside
MRT station. I like the Jurong Lake as I can jog around the lake, also the area is very windy. I will have about $2.5m cash to invest to generate monthly dividends for me and wife. We plan to retire in 4 years time when we reach 65.
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Originally Posted by Unregistered
Me, 50, $70k pa. Wife, 48, $60k pa.
Lives in a 4 room HDB flat in Jurong East. No more mortgage loan.
Our retirement plan - rent out our two spare rooms to FTs (maybe nurses at the new hospital) at $800 per month per room plus payout from CPF Life $1000 per month each plus two children's contribution $800 per month in total ($400 each). So total retirement income for me and wife is $4400. Lessons learnt - need to own your home for retirement rental income, need to have good children to contribute, need to have forced savings in CPF. Our retirement income of $52,800 pa should be sufficient as we just need money for food, utilities, health care and public transport. No need to be a millionaire to retire comfortably. |