Should be a bit more cos both couples working and
CPF OA contributions with their income level should actually wack off the loan of $200k by 5-7 yrs.
Quote:
Originally Posted by Unregistered
Net Worth 1.2M
cash 400K
Savings 40 K ( expenses 140 K)
Age 55
Savings 40 * 8 = 320 K
Cash 720K , loan outstanding 100 K , net cash 620K
at 620K at 3% annual return, you will get 18.6K pa
Age 65
Saving 40*18 = 720K
Cash 1.12M , Loan outstanding - 0
AT 1.12 M , 3% annual return, you will get 33.6 K pa
If no other expenses ( children education, new car, etc)
it should be a comfortable retirement.
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