You have done well. Your net worth is $1.4m now. Since you save $150k pa, over 20 years your additional savings will be $3m. So at the age of 64, your total net worth will be about $5m since you would have cleared your loan. This is definitely more than enough to retire.
You will be a rich man.
Quote:
Originally Posted by Unregistered
44 /39 yrs old, grad couple
220k pa combined income
Fully paid 4 room hdb valued at 400k
2 room ocr condo valued at 850k, o/s loan 500k, TOP Y2015
cpf + cash on hand 550k
cash locked in shares & endowment plans 45k (capital protection),
current cash out value 80k
jap car fully paid. No maid. Expenses approx 70k pa combined.
Are we faring ok as compared to our peers ?
Any opinions, advise on how we can generate passive income in our situation ? |