Quote:
Originally Posted by Unregistered
Well done!
Despite your relatively modest HH income, your HH net worth is commendable.
But you do have to think about how to realise the value of your condo in the next 10-15 years as you approach retirement as it is your only property..
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We will retire in our condo.
We plan to retire at 65 and since we save $60k pa, we will be able to save $960k cash by 65. We will then invest this in a 5% dividend yield stocks hence giving us $48k pa or $4k pm of dividends. Our
CPF Life will give us $3.5k pm ($1.75k each), so in total we will have $7.5k of passive income in retirement or $90k pa. This is more than enough for food, utilities, public transport fees and some overseas holidays. We will not have a maid nor a car anymore as we find these a big waste of money for a retired couple.