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Old 04-06-2014, 11:11 PM
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Many people seems to worry about their retirement funding, how to finance their old age. Here are some quick notes:

1. When you are old and retired, you can rent out two of your rooms in your HDB flat. For this to be possible, our property and rental market must be strong. So, you must support FTs working here as they will help to finance our retirement. You can rent out $600 per room or $1200 for two rooms per month.

2. Our CPF minimum sum scheme will ensure we will when you reach 65, you will get a monthly payout for life. With the latest min sum, you get $1200 per month, so if your wife also have, you will get $2400 per month.

3. Make sure your children give you allowance of at least $200 per month each or $400 per month for you and wife. If you have two kids, you will get $800 per month as a couple.

4. So, your passive income is $1200 + $2400 + $800 = $4400 per month. This is enough for you and wife. Make sure your expenses are kept low. Do NOT smoke, drink, gamble, womanize nor sodomize. These will make you unhealthy and diseased. Do not own a car. Do not employ a maid. Cook your own simple meals or eat at cheap hawker centres. Do not get conned by get rich quick scams.

5. All the best.
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