Quote:
Originally Posted by Unregistered
My other assets are cash and CPF (OA, SA, MA) $300k in total. So my net worth is $1.4m. I don't have investments as I don't know much about investments. What should I do to retire at 60? |
One strategy for your retirement is to opt for the
CPF Life enhanced scheme for you and wife. Make sure you top up your wife's
CPF Special Account (using your annual savings of $30k pa) so that both of you can enjoy a payout of $1750 pm each from age 65 onwards. As a couple, you get $3500 pm. Your children should be able to afford to give you both $1000 pm ($500 for you and $500 for your wife). If you have two kids, then you will get $2000 pm from your kids. So your total passive income will be $5500 pm. I think you should retire at 65 and not 60 as your
CPF Life payout only starts at 65.