26-12-2014, 10:31 PM
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Quote:
Originally Posted by Unregistered
Well done. Since you seem to be debt free and has a net worth of $2m, you are doing very well. Your expenditure of $130k pa is prudent and with your savings of $30k pa, over 20 years, you would have saved a further $600k. Most importantly you own and stay in a condo, this is a big achievement in Singapore as only the top 15% of Singaporeans are living in condos.
When you retire at 65, you can sell your big condo and downgrade to a small studio condo. Assuming by then you have $2m in cash, you can invest in stocks giving you 5% dividend yield or $100k pa. On top of that you will get your CPF Life of about $1700 pm (per person) assuming the CPF min continue to rise. So for two persons, it will be $3400 pm or $40,800 pa. So your total passive income when you retire at 65 will be $140,800 pa.
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TOP 15% guy strikes again.....
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