Only an idiot don't know how to retire with $3m.
Many uncles and aunties at the coffee shop are already retired with just a few thousand dollars in their bank. How do they survive? They rent out their spare rooms to FTs and get some allowances from their children. Also some amount from their cash and
CPF savings.
Quote:
Originally Posted by Unregistered
Have you actually done a check / assessment with a financial advisor before? You are the only one who can decide if $4m is adequate or not, in 20 years time when you retire and some more the money is supposed to last another 25 years?
After you sell $4m property, you will need to buy $1m HDB? leaving you $3m. Would expect that even a 4rm flat could cost that much in 20 yrs time. With 3% inflation, $3m 20 years later is probably worth $1.5m (today's value). Can that last you another 25 yrs?
Best to work the sum through. Retirement Calculators - CNNMoney |