Quote:
Originally Posted by Unregistered
Yes, you can retire by 55.
Here is what you need to do.
1. Let's assume you save $200k pa between age 45 and 55 (10 years). So your additional savings will be $2m.
2. Invest your total savings of $3m in a 5% dividend yield stocks portfolio which will give you $150k pa in dividend income.
3. Spend $100k pa during your retirement and invest back $50k pa into your stocks portfolio. By the time you are 85, you will have $4.5m. You can donate half of your wealth to charity to help the poor, aged and needy.
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What about me then? We are both 40 and work even shorter time. Just received from IRAS that last year we file $850K pa income. Glad we are paying a lot of tax. We have a fully paid
HDB prob worth $800K and a corner terrace worth $2.1m, both fully paid. We save around $300K per year and have around $2m invts in a variety of products. We hope to retire by 60. Can or not?