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Old 22-05-2016, 04:50 PM
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My spouse and I can retire in about 5 years time when we reach 55.

We estimate that we will have a passive income of $60k pa at 55. Our 3 bedroom modern luxury condo is paid up. We don't intend to own a car (our condo is near an MRT station and near shopping facilities) nor employ a helper (not much house work for two persons). Our children are likely to be married and living in their own hdb flats by then.

Given that we will not have any liabilities by then, our expenses will be the most $4k pm as we just need to spend on food, utilities, medical and some short travels. We have comprehensive medical insurance. We also don't drink, don't smoke, don't gamble and don't party. But occasionally we do spend on good food at restaurants.

We plan to do charity work, reading, exercising in the condo gym and engage in our hobbies when we retire.

We look forward to a good retirement after working so hard in school and at work for so many years. It will be time for us to relax, take care of our health and give back to society. Life is short so we must treasure our time.
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