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Originally Posted by Unregistered
52, 53, ordinary middle class couple, total earnings, $185k pa. Owns a condo, worth $1.5m, now fully paid up. Drives a one year old Jap car, fully paid up. Kids are in secondary schools. We don't have much savings as we spend a lot on the kids for tuition, enrichment, etc as well as giving our parent allowance to support them financially. Our net worth in total is only a small $2m in total.
We worry about our retirement. How can we retire? Do we need to downgrade to public housing? This worries us a lot.
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We are in our late fifties and retired. Our daughter married a foreigner and staying overseas. We moved from our landed property to a 1 bedroom condo in Jurong. We invested our cash balance in blue chips and now getting $100k pa dividends. Our daughter also gives us $1k per month and so our passive income is $112k pa. Our expenses is $50k pa. We invest our savings into more dividend stocks and our passive income continues to grow.