This is a good plan since you have families in KL. For us, we will retire in Singapore. We will sell our big condo and downgrade to a smaller condo at 65. Together with our current investments, we will have $1m in investments, which will give us $50k pa in dividends. Our
CPF Life will give $43k pa. In total, our passive income will be $93k pa.
Quote:
Originally Posted by Unregistered
I plan to retire in KL, where I have close relatives. By the time I am 57, I envisage my children to be working, married and living in their own BTO flats. My spouse and I will rent out our paid up Singapore condo for S$3500 pm. We will also have stocks dividend income of S$1500 pm. Total passive income will be S$5000 pm. I can get RM15,000 pm based on S$1=RM3.
Expenses in KL
- Renting a 3 bedroom luxury condo RM3k pm
- Car, paid in full cash RM50k (S$17k).
- Petrol, maintenance, road tax, etc RM1k pm
- Food, groceries, utilities, eating out RM2k pm
- Entertainment, misc RM1k pm
Total expenses RM7k pm
Total savings RM8k pm
When we reach 65, we will have additional passive income of S$3.6k pm from CPF Life for us to save.
We will enjoy a good retirement. |