We Singaporeans are lucky that we get to buy very cheap BTO which we can pay off easily. Our flat then becomes our retirement asset. Our
CPF Life system is also good as we will get a monthly amount when we reach 65. A retired couple who meet the minimum sum will get $2400 in total every month. So if we retire overseas and rent our flat at $2600 pm, we will get $5000 in passive income. This is a lot of money if we retire in Malaysia or Thailand (Chiang Mai, Koh Samui, Phuket, Krabi). If we retire in places like Chiang Mai, Phuket or Krabi, we can enjoy sitting by the beautiful beaches everyday. How nice!
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Originally Posted by Unregistered
47, sole bread winner, salary $65k pa. Wife is a housewife. One son. Our home is a cosy 3 bedroom flat. Paid up the flat a few years ago since we bought at a very low price. Goes to work by MRT. Luckily our home is next to an LRT station which brings me to the nearest MRT station. Now focusing on saving up my CPF and in cash. When I retire, we plan to rent out our one spare room (after son got married and move out) and also getting payout from my CPF Life. Also will spend some money from my savings.
From this forum, we also got some good ideas on retiring overseas. One possible idea is we can rent out our whole flat for $2500 pm. Plus my CPF Life monthly payout of $1200, I will get $3700 pm and if we convert to RM, we will get RM9500 pm in passive income. We can rent a 3 bedroom condo in JB for only RM1000 (due to oversupply of empty properties in JB) and our spending in retirement will only be RM5000 in total. We can then save the rest. |