You have done very well. To own and live in a private condo is a big achievement in Singapore. And to own it in full with no more loan is a super big achievement. I noticed you bought it at a right time. That is why timing the market is a very important skill. Now is a bad time to buy, good time to sell. Property prices are now falling, esp
HDB flats and landed properties.
You are also practical with your retirement. Yes, there is no need to have a car when you're retired. Since you are moving to a one bedroom unit, I suggest you get a unit next to an
MRT station. Look at the Jurong area as that precint is the new downtown. Some Jurong condos which are next to the
MRT station are J Gateway (next to JE
MRT station), Caspian and Lakefront Residences (next to Lakeside
MRT station).
Quote:
Originally Posted by Unregistered
Late forties middle class couple, makes $210k pa in total. Upgraded from 4 room flat to a condo in 2006, paid only $600k for condo. Now fully paid up, latest valuation $1.2m. Bought a car in 2009, now fully paid up. We plan to retire in our sixties. By then, our children would have grown up and married. The condo may be too big for just the two of us, may sell and move to a one bedroom condo. Easier to maintain. We can then invest the cash balance in good stocks and earn the dividends. Our retirement spending should not cost so much since it will be just a two persons household and we also intend to sell our car by then. The most we will spend would be $3k pm to buy food and pay for utilities, medical, holidays, etc. To fund our retirement, we will get income from our CPF Life and dividends. |