Office worker, 41, $5,300 pm.
Wife, works in manufacturing industry, 45, $4,700 pm.
Lives in a HDB 5 room flat, worth $500k. Paid up loan.
Drives a one year old car, loan remaining $50k.
Cash and stocks, $50k.
CPF funds and other assets, $450k.
Total net worth (husband and wife), $1m.
Our target net worth when we retire at 65, $2m.
We hope to invest $1m in stocks when we retire to get $50k pa, assuming 5% dividend yield. We will also rent two empty rooms to get $2k pm or $24k pa. We hope our kids gives us at least $1k pm in total or $12k pa. We will also get our CPF Life of $1500 pm for each person or $3k for two persons ($36k pa).
In total our passive income will be about $122k pa. Our expenses should only be $60k pa the most.