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Old 03-06-2014, 04:38 PM
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Originally Posted by Unregistered View Post
Late 40s married couple. Our total income is quite decent, $210k pa. But we are also big spenders, $170k pa. We only save $40k pa.

Our big expenditure items are:

1. Condo mortgage. Condo worth $1.5m, loan remaining $500k.
2. Big luxury German sedan. Loan remaining $120k.
3. Domestic helper.
4. Kids' spendings, including costly enrichment, piano, tuition classes.
5. Parents' (both sides) allowances.
6. Holidays, twice a year.
7. Insurance.

Our expenses will go down by the time we retire at 65, by then we would have cleared the mortgage, sold the car, no more helper, kids grown up. We should only need money for food, utilities, condo fees, public transport and short holidays.

How do we get enough money for retirement? We will use money from our savings and we will downgrade from our condo to a one room condo unit. We will also get money from CPF.
mid 40s. income about 240k pa. very low spending. no car. no debt. household expense around 50k pa. can save more than 150k pa after tax and CPF. invest most into stock market and am getting around 20k pa in dividends (market value of shares approx 560k)

still not sure if there is enough for retirement???

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