There you go.
Have you thought about working till 65? or even 67? The longer you work, the more you can save.
I think for most couples, the period from 55 - 65 is really the best period to accumulate savings, I called that the golden period. Because by 55, their children would have entered the workforce.
This would mean there is no more $ to be set aside for the children's education. On top of that, the children could be giving them allowance. Also by that time, their housing loan would have been paid up.
For our case, I projected that if we could work from 55 - 65, we could amass another $2.5 to $3m over the 10 yrs. An enticing thought indeed.
It is no wonder I see grey hair people still buying condos.
Quote:
Originally Posted by Unregistered
Worried about the prospects of having to downgrade to public housing. Not sure whether I will be happy to move from a prestigious and nice condo development to public housing. I love the lifestyle, prestige, security and safety that a condo offers. I suppose I could downgrade from my 3 room unit to a studio condo unit and use the cash balance for retirement. I can also stop driving to save on transport cost. Will therefore need to find a condo next to an MRT station for convenience. |