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  #901 (permalink)  
Old 24-02-2015, 12:26 PM
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Originally Posted by Unregistered View Post
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.

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