Quote:
Originally Posted by Unregistered
We are already generating $5k pm of passive income. We will need to save another $240k for us to generate another $1k pm ($12k pa) of dividends. We can actually retire now if we want to as our passive income exceeds our expenses but we prefer to have a buffer of $2k pm extra amount. Also getting a monthly payout from our CPF Life when we reach 65 is an added bonus. We will most likely retire at 58 to join our friends who have retired earlier as they are more successful financially than us. |
If I were you, I would have already retired. I would need just $3k pm for me and spouse since we are debt free and we don't intend to have any domestic helper nor a car. Earning a passive income of $5k pm is a lot. There are retired couples who can retire with just $2k pm. Besides your $5k pm passive income, you would have contributions from your children which you can save. At 65, you will get $3500 from
CPF Life as a couple if you choose the enhanced option. So it is possible at 65, your income will be $5k +$3.5k + $1k = $9.5k pm, if your children gives you $1k pm. So even beyond 65, you will accumulate wealth since your income is way higher than your expenses.