Quote:
Originally Posted by Unregistered
49, earns $90k pa. Spouse, 45, stopped working due to health matters.
We bought our condo in 2005 for $700k, now it is worth $1.2m, paid up.
No car. One kid.
Our annual expenses is $60k pa.
We save $30k pa.
Cash and CPF funds $400k.
Our net worth $1.6m.
Our condo is our key retirement asset besides our CPF funds.
We are lucky to buy our condo at the right time. |
sorry to hear about your spouse. do not worry, both of you can still retire well. since you save $30k pa, you will have $480k by the time you are 65. at 65, you can sell your condo and buy a small condo or a
hdb flat. you will then a cash balance which you can invest. let's say you have $1m cash. you can invest in 5% dividend yeild stocks to give you $50k pa or $4100 pm. Make sure you both each put in $241,500 in your
CPF retirement account at 55 so that at 65 you both each will get $1800 pm ($3600 pm as a couple). so in total you will have a passive income of $7766 pm.