Good for you. I have ex bankers friends who retired in their 40s. Now they are enjoying the good life, travelling around the world on leisure and doing community work.
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Originally Posted by Unregistered
My spouse and I will be retiring in a couple of years when we reach 55. Our condo unit is paid up and our children will be financially independent. As a retired couple, we will not need much, just food, holidays once a year and some recreation. We don't drive and do not have a maid, this saves a lot of money.
We will need about $36k pa in retirement and this will be financed by our passive income of $50k pa from our investments. An added bonus will be contributions from our children. When we reach 65, we will get an additional $3.6k pm ($43.2k pa) from our CPF Life. We can save a portion of this and spend the rest on more traveling around the world.
We both like reading and outdoor activities. So we will be spending our retirement doing lots of those activities. We hope to also do some volunteer work in local charitable organizations.
We are excited to embark on our active retirement journey. After working for so long, it is time for us to get a good rest. |