47 & 46, $190k pa combined. Stays in a $1.5m condo, paid up.
Cash,
CPF combined, $500k. Total net worth, $2m.
Retirement plan at 65 is to sell condo and buy a 4 room flat and fully renovate the flat.
Will use cash to invest in high dividend stocks. Will get payout from
CPF Life every month.
We hope the
CPF minimum sum will rise higher so that our payout will be higher. We hope the payout will be $2000 pm for each of us when we reach 65.
Our projected passive income:
CPF Life payout (wife and I) = $4000 pm
Dividends = $8000 pm ($2m portfolio)
Total = $12000 pm
Our projected expenses = $5000 pm
We don't intend to employ a maid and will not own a car
Savings = $7000 pm