Quote:
Originally Posted by Unregistered
Sole breadwinner, 45, earns $140k pa.
Spouse is a home maker.
Living in a 3 bedder condo, currently worth $970k. Cleared mortgage.
Owns an old, small car. Cleared car loan.
Lives a middle class lifestyle. Overseas holidays once a year. Eat at restaurants once a week.
We are happy and contented.
Plans to retire at 58. Simple retirement in current condo. No car needed.
Will need $3k pa for our retirement.
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Great to know that you have a good plan...no debt, happy and financially healthy. Do you have any children? If yes, need to set aside some educational funds. If your
CPF is enough for ERS by 55 yrs old, it will solidfy your returement income. Try not to downgrade your condo. Only do it as a last resort.