Quote:
Originally Posted by Unregistered
Underperforming graduate couple, total income $130,500 per year. Lives in an old condo worth $800,000. Mortgage outstanding $400,000. Owns an old car. 3 children in schools. We are both 47 this year. Total net worth (including condo's equity value, cash, CPF and stocks) $1,050,000.
Any advice how to prepare for retirement? Is it wise for us to downgrade to a 3 room HDB flat when we reach 65? Or should we consider retiring elsewhere like some forummers here suggested Malaysia or Thailand. Thank you. |
I think you may want to retire in Chiang Mai or Phuket. You can rent out your condo to get rental income and plus your
CPF Life money, you can retire comfortably. Today, if you have a passive income of S$2k pm, you can retire there very well.