Quote:
Originally Posted by Unregistered
Couple in late 40s. Household income $500k. Two teenage kids. Husband work life standard 8-5 job and goes home on time. Wife work very relax, can watch korean drama during work, knocks off at 5pm. Have a newly paid up condo and car. Total net worth $2m.
How are we doing? Can we retire by 55?
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Household income 500K and networth only 2M after 20+ years of work? If your networth includes condo and car, dont think you can retire in 5 years time.
If you plan to retire, you may want to take a long look at your expenses and lifestyle.
Otherwise your funds could easily be wipe out in 5 years time.
With 2 M, you probably can get decent income of 40-100 K per year on a conservative basis (FD , Dividends stock), but it may not match your expenses. Consider retirement only when your returns on savings can match expenses.