What is the difference between "Combined cash &
CPF - $500k." and "Combined cash savings - $25k pa."?
Does that mean your combined cash is $25K and
CPF is $475K?
If above is correct, you need to continue to work as long as you can, until official retirement age. By continuous working, you would enjoy medical benefit, grow your
CPF further, not touching your saving for regular expenses and save more since the car and condo are paid up.
Meanwhile, look into how to invest your cash saving so you could have safe passive income when you retire.
Quote:
Originally Posted by Unregistered
Couple, 53 & 50.
Home - 2 BR condo worth $900k, paid up.
Car - paid up.
Combined cash & CPF - $500k.
Combined net worth (excluding car) - $1.4m.
Combined income - $160k pa.
Combined cash savings - $25k pa.
How are we doing?
If you're in our age group, please share your situation.
When and how can we retire? |