Quote:
Originally Posted by Unregistered
50, sole breadwinner, $120k pa. Children are in secondary schools. Our condominium unit in the OCR and our car are paid up. Our total net worth is $1.4m.
How are we doing financially?
Can any gurus in this forum advise us what we can do to prepare for retirement?
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If most of the 1.4m networth is from your condo, then go luck to you as retirement is likely to ever take place when you are 70 or older. If you want to retire at 60 and have decent retirement lifestyle, you can either sell your condo to cash out and/or rely on your children to give allowance of at least 1k per mth per child.