Humble and simple guy, 46. Spouse, 44.
Total HH income, $194k pa.
Savings, $50k pa.
Home: 3 bedroom condo, worth $1m. Outstanding loan $200k.
Retirement plan at 65:
1. Retire in our condo.
2. Earn
CPF Life payout $3500 pm.
3. Other passive income $2000 pm.
4. Two children's parent allowance ($500 pm each) $1000 pm.
5. Total passive income $6500 pm.
6. Total expenditure $3500 pm.
7. Savings (reinvested) $3000 pm.
Expenses during retirement:
1. Food and utilities $1200 pm.
2. Car (fully paid) expenses such as petrol, road tax, insurance, etc $600 pm
3. Medical insurance $800 pm.
4. Holidays $400 pm (pro rated).
5. Misc $500 pm.
6. Total $3500 pm.