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#**10105** (**permalink**) 09-06-2016, 02:45 PM

If you retire at 65, you can save $450k cash over 15 years. You can then invest in 5% dividend yield stocks to give you $22.5k pa in dividends. Your CPF Life will give you $43.2k pa. Let's say your chidren gives you $500 pm, you will get $6k pa.

In total, your passive income will be $71.7k pa or $6k pm. This is a good retirement passive income for you and wife.

You don't have to downgrade and can retire in place.

You are very successful.

Quote:

Originally Posted by Unregistered

Middle class family, 50 & 49 year old.
Car paid up.

Our expenses
Condo mortgage $1100 pm or $13,200 pa
Car petrol, road tax, car insurance, parking, etc $700 pm or $8,400 pa
Groceries, restaurants & utilities $2000 pm or $24,000 pa
Medical insurance $1700 pm or $20,400 pa
Holiday travels $800 pm or $9,600 pa
Children $500 pm or $6,000 pa
Parents allowance & gifts $1600 pm or $19,200 pa
Others $500 pm or $6,000 pa
Total expenses $8,900 pm or $106,800 pa

Total income, including bonuses $136,800 pa
Total savings $30,000 pa

Net worth
Condo net value (value minus mortgage) $760k
Cash & CPF $650k
Stocks $50k
Total net worth $1.46 mil

How are we doing? How do we fare compared to our contemporaries?
How can we prepare for our retirement?