You have done well since you own BOTH a condo and a car. Not many people own BOTH. Since you save $50k pa, over 20 years, you will save $1m. By the time you retire, your condo would have been paid off and you would have chosen your
CPF Life. No problem retiring at 65.
Quote:
Originally Posted by Unregistered
46, annual income $98k pa.
Spouse, 44, annual income $115k pa.
Combined annual savings $50k pa.
Our major expenses:
Condo mortgage $2400 pm
Car loan payment $792 pm
Petrol and car related expenses $700 pm
Food, groceries and utilities $2000 pm
Parents' allowances $1400 pm
Insurance $1700 pm
Other expenses include overseas holidays, restaurant dining, etc
Total net worth, husband and wife combined (including net value of condo) $900k.
How are we doing?
Can we retire at 60?
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