You can both retire at 65. At 65, you will get $3.6k pm ($1.8k each) from
CPF Life. Since you save $40k pa, over 15 years you will save $600k. Invest in dividend yield stocks giving 5% pa in dividends, so you get $30k pa or $2.5k pm in dividends. So your passive income is $6.1k pm or $73.2k pa.
Quote:
Originally Posted by Unregistered
If this is our profile, when can we retire? Need sincere advice from forumers here:
Husband, 50. Wife, 51. Combined income $200k pa and we save $40k pa.
Son, 20. Daughter, 13. Still schooling.
Home is a three bedder condo, current valuation $980k. Mortgage remaining $188k.
Car is paid up. Other assets include CPF, cash, stocks, insurance policies.
Total net worth $2m.
Thank you for the advice. |