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Old 25-04-2015, 03:16 PM
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Originally Posted by Unregistered View Post
We are not among the rich but we are contented and grateful with what we have and happy with our middle class achievements. We are 50 & 52 years old.

We have:

1. A fully paid modern and posh condo, only one year after TOP.
2. A fully paid car.
3. 2 wonderful, well brought up children.
4. A nice CPF and cash balances.
5. Well insured.
6. Enjoy eating at restaurants once a week.
7. Overseas holidays, twice a year.
8. A happy family.
9. Parents who love us as we care for them and financially support them.
10. Good jobs.
11. Active community work in helping those in need.
12. Good health.
13. Healthy savings every year.

Success and richness in life is not just measured with material wealth. Other measures as listed above are also critical.

Yes. You are doing fine.
The problem of most Singaporean is when he retires, his net worth could be high but...but all is tied to the home. So called asset rich cash poor. How to enjoy life if you have not enough money to spend the way you want? You want to stay 24 /7 at home?

If you can afford to spend the amount equivalent to 70% of your last gross income when retire, you will have no worries what so ever financially.

Please take note by then you will not contributing to CPF, not paying income tax, not paying your mortgage, not financing your children's education, and most important thing is, you need not allocate certain portion of your income to save for retirement... as you by now already retired.
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