Quote:
Originally Posted by Unregistered
Here's our assets (mid 40s married couple with two kids)
Paid up HDB executive flat valued at $700k
Paid up old car with current market value of $50k
Debt free.
CPF $400k
Cash $60k
Total net worth $1.21m
How are we doing? How should we prepare for retirement? |
you both doing good. you can retire by:
1. opt for the
CPF min sum of $241,500 at 55 for both of you. you will each get $1750 pm or $3500 pm as a couple from
CPF Life
2. each child gives you $1k pm so if you have 2 children, you get $2k pm
3. rent out your two spare rooms at $1k pm for each room. you get $2k pm
Your passive income is $7,500 pm