I am happy for both of you that you are enjoying your retirement at 55. It is a good time to enjoy the fruits of your labour.
Yes, I am aware that we could live reasonably well with $100k pa in retirement. We still got a few years to 55, and our current living expense is around $120k - $140k pa as we have 2 cars and still paying off the mortgage of our second property and children still in the uni. Our 2 properties are next to
MRT stations also.
The $150k pa passive income target we set ourselves include some buffer to take account of inflation over the longer term. Our envisaged lifestyle in retirement:-
1. Age in place (ie we hope to continue staying where we are as we are very comfortable with the neighbourhood)
2. Have a car to move around in comfort
3. Continue to travel at least once a year
4. Attend concerts and live performances
5. Dining out occasionally
6. Continue to engage in our respective hobbies (eg tennis, golf and investing)
7. Able to contribute to charitable causes
We foresee this phase to last a good 10-15 years (from 55 - 70 yo) before we tone down the more physical activities such as tennis, golf and traveling. By that time, our expenses will reduce but medical expenses could increase.
Quote:
Originally Posted by Unregistered
Not sure how old you are. My wife and I are both 55 and we are retired. Our only child married an investment banker and living with him in a condo in D11. Both of us are now living in a two bedroom condo located next to an MRT station near the Jurong Lake area. We sold our penthouse and moved to the smaller and cosy condo. It freed up cash and allowed us to invest in dividend stocks.
Our passive income is now $80k pa and our daughter gives us $12k pa. Our expenses is only $50k pa, including holidays. Since we live next to the MRT, we no longer need a car to move around. Our place is also near to malls, hawker centres and supermarkets. We enjoy eating out and doing the household chores together. We also enjoy walking around the Jurong Lake in the evenings. Retirement is fun. |