45, $5600 pm.
43, $5000 pm.
2 kids in secondary school.
small korean car, 5 years old.
home is an old condo bought in 2006 for $500k. now worth $1m. loan left $200k.
cpf and cash combined, $400k.
total net worth, $1.2m.
we will work until we retire at 65. will collect CPF Life, $1200 pm per person.
will sell condo and downgrade to hdb studio flat, costing $100k.
will invest in stocks ($1m from sale of condo) to get dividend of $50k pa.
total passive income, $78k pa or $6500 pm.
if kids give allowance that will be an added bonus but we are not hoping for that.