Very commendable. That means your networth is at least $2.6m not including your
CPF money. $1.4m for your condo and $1.2m in stocks.
Must admit when my investment in stocks hit $1m a few years ago I was worried. But now that my networth has grown, the $1m in stocks makes up less than 20% of my total funds, I am able to sleep peacefully at night. Diversification to spread your risk is key.
Don't put all your funds into a single source of investment eg. stocks. Spread some to bonds and annuities, and if possible, even property for rental income.
Well good luck on your retirement plan!
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. |