You can rent out your flat at $3k pm. Plus your
CPF Life and kids' allowance, you will get $6400 pm (RM16,000 pm) of passive income. You can retire in a posh penthouse in KL or Penang, with rent of only RM5k pm. You also have enough to drive a nice car, eat at nice restaurants and still have spare cash to go for holidays.
Don't retire in JB, very high crime rate. Not safe. Not worth your precious life.
Quote:
Originally Posted by Unregistered
Bought HDB flat many years ago for $100k. Now paid up.
50, $68k pa. Spouse, 52, $70k pa.
Son in JC.
Cash and CPF, combined, $400k.
We plan to retire when we reach 65.
Will get the CPF Life, $1200 pm each.
Will rent out two of our rooms to FTs at $1000 pm.
Sons' contributions, $1000 pm
Total passive income, $5400 pm.
Spendings, $3000 pm for food, utilities and transport.
Our retirement trategy:
1. Buy cheap HDB flat and pay off loan as fast as possible.
2. Rent out rooms to FTs.
3. Have children so that they can contribute monthly allowance.
4. Meet CPF minimum sum so we can get CPF Life money. |