Originally Posted by Unregistered

My spouse and I are planning for our eventual retirement in a decade's time when we reach 55. We are fortunate that we have no liabilities as our 3 BR luxury condo and car are both paid up. Even if the property market crashes due to the massive oversupply of empty condos, we can sleep well.

Our retirement needs are modest. Since our condo is located near an MRT station, we do not see any need for us to own a car. We can travel anywhere during non peak hours using the MRT. It is also good for our health as we will still need to do some walking. This is useful exercise.

We estimate that we will need about $3k pm ($36k pa) by the time we retire at 55. This will be financed by our dividends, annuities and cash savings. Upon reaching 65, we will get an additional source of passive income from our CPF Life which we could use to travel the world.

We will work very hard from now until we reach 55 so that we can save and invest more.