You must be grateful for what you have. Not many people can afford to live in a condo. 85% of Singaporeans live in
HDB flats, so you are the lucky few. Don't worry too much about your retirement. When the time comes, you can buy a studio
HDB flat for the elderly and cash out your condo. While you are still young, enjoy condo living and make the best use of the condo facilities. When you are old, you no longer can enjoy the facilities so you are better off staying in a studio
HDB flat for the elderly which only cost $70k. After you cash out your condo, you can have $1m cash or more to spend during your retirement.
Quote:
Originally Posted by Unregistered
Low income grad couple, 42/43, earning only $140k pa in total.
Home is a condo, bought in 2005 for $450k, now worth only $900k, mortgage left $200k.
Own an old car, COE ending soon, may not drive after COE ends, will just taxi public transport.
When we retire, we will most likely sell our condo and downgrade to a 2 room HDB flat and use the cash balance to invest in high dividend yield stocks to get passive income. |