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Old 24-01-2017, 03:01 PM
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Thank you for the comments and assurance. I'm looking forward to retirement. Maybe I will retire in 5 years time at 58. We hope to clear all our debts by then. In retirement, I will just need the expenses below for the two of us. Our kids should be on their own by then.

We will retire in our 3 bedder condo. We do not want to downgrade to a HDB flat as we enjoy our condo facilities, especially the gymnasium and condo pool.

Food $600 pm (mostly cook at home and occasionally go to restaurants)
Utilities, condo fees, mobile phone, etc $500 pm
Public transport $100 pm
Insurance and medical $800 pm
Holidays $400 pm ($4800 pa - enough for regional holidays in 5-star luxury hotels for two persons. Will go during non peak seasons to enjoy good bargains. Also not crowded.)
Misc $100 pm
Total $2500 pm

We will need $30,000 pa or $210,000 over 7 years before we reach 65. This will be covered by our savings. We will choose the ERS so we will get $45,600 pa from our CPF Life when we reach 65.
You will need to factor in inflation, emergencies and medical as you age. That being said, you are financially better off than most people. Stay safe.

In you're interested, check this site out and see if his methods might work for you between now and retirement.

joblessinvestor.blogspot.sg
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