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How much are you earning per annum?

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  #10871 (permalink)  
Old 28-02-2017, 01:24 PM
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When you retire, you have these options:

1. Sell your flat for $600k and buy a 2 room flexi BTO flat costing $100k. You then invest your $500k balance in a 5% dividend yield portfolio which gives you a passive dividend income of $25k pa. Your CPF Life can give you $4k pm or $48k pa for a retired couple if you choose the ERS. This give you a passive income of $73k pa or $6k pm. This is a lot for an old couple.

2. You can rent out two of your empty rooms for $800 pm for each room.You get passive income of $19.2k pa from rentals. Plus your ERS, your passive income $67.2k pa or $5.6k pm. This is enough if you dont drive and employ a maid.

3. You can retire overseas. Your flat can give you $2.5k pm or $30k pa in rentals. Plus your ERS, you get $78k pa. If you convert to RM, you get RM 245k pa (S$1=RM3.15). With this amount you can retire in JB like a rich tycoon. You can rent a BIG BUNGALOW with a BIG SWIMMING POOL, buy a BIG CAR and employ two maids. If you retire in Thailand, you can retire like a Thai billionaire. You can travel the world in first class.

The choice is yours.

Your assets are 1. Your HDB flat and 2. Your CPF Life.
Fking c**t talking about retirement and malaysia again.



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  #10872 (permalink)  
Old 28-02-2017, 04:28 PM
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I like to thank you for the fantastic idea.

No wonder so many bought property in Malaysia.

You are a genius! Respect!

No wonder Gov said there is no poor people in Singapore.


Quote:
Originally Posted by Unregistered View Post
When you retire, you have these options:

1. Sell your flat for $600k and buy a 2 room flexi BTO flat costing $100k. You then invest your $500k balance in a 5% dividend yield portfolio which gives you a passive dividend income of $25k pa. Your CPF Life can give you $4k pm or $48k pa for a retired couple if you choose the ERS. This give you a passive income of $73k pa or $6k pm. This is a lot for an old couple.

2. You can rent out two of your empty rooms for $800 pm for each room.You get passive income of $19.2k pa from rentals. Plus your ERS, your passive income $67.2k pa or $5.6k pm. This is enough if you dont drive and employ a maid.

3. You can retire overseas. Your flat can give you $2.5k pm or $30k pa in rentals. Plus your ERS, you get $78k pa. If you convert to RM, you get RM 245k pa (S$1=RM3.15). With this amount you can retire in JB like a rich tycoon. You can rent a BIG BUNGALOW with a BIG SWIMMING POOL, buy a BIG CAR and employ two maids. If you retire in Thailand, you can retire like a Thai billionaire. You can travel the world in first class.

The choice is yours.

Your assets are 1. Your HDB flat and 2. Your CPF Life.


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  #10873 (permalink)  
Old 01-03-2017, 04:37 PM
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Your ideas are brilliant. We all have choices on our retirement lifestyle.

Many in the developed countries are retiring in cheaper, developing countries like countries in Asia. You can find them retiring in Thailand, Malaysia, etc.

We are fortunate that the majority of us have assets. Our HDB flat is our biggest asset.



Quote:
Originally Posted by Unregistered View Post
When you retire, you have these options:

1. Sell your flat for $600k and buy a 2 room flexi BTO flat costing $100k. You then invest your $500k balance in a 5% dividend yield portfolio which gives you a passive dividend income of $25k pa. Your CPF Life can give you $4k pm or $48k pa for a retired couple if you choose the ERS. This give you a passive income of $73k pa or $6k pm. This is a lot for an old couple.

2. You can rent out two of your empty rooms for $800 pm for each room.You get passive income of $19.2k pa from rentals. Plus your ERS, your passive income $67.2k pa or $5.6k pm. This is enough if you dont drive and employ a maid.

3. You can retire overseas. Your flat can give you $2.5k pm or $30k pa in rentals. Plus your ERS, you get $78k pa. If you convert to RM, you get RM 245k pa (S$1=RM3.15). With this amount you can retire in JB like a rich tycoon. You can rent a BIG BUNGALOW with a BIG SWIMMING POOL, buy a BIG CAR and employ two maids. If you retire in Thailand, you can retire like a Thai billionaire. You can travel the world in first class.

The choice is yours.

Your assets are 1. Your HDB flat and 2. Your CPF Life.

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  #10874 (permalink)  
Old 02-03-2017, 02:10 PM
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makes $150k pa in total, both combined
home is a three bedroom condominium unit, well renovated and furnished
owns a car
debt free

we plan to retire in ten years time at 55
we will retire in our current condominium home
our savings and passive income will fund our retirement from 55 to 65
our passive income from investments and CPF Life will fund our retirement from 65 onwards

our retirement activities

1. travel the world during non peak seasons
2. exercise regularly in the condominium gym, pool, and tennis court
3. spend more time with extended family members and retired friends
4. do volunteer work at charities to help the needy
5. learn to cook new dishes
6. do lots of reading
7. exercise by doing own household chores
8. manage our investments. attend AGMs.

there's so much to do in retirement. looking forward to our retirement.

we will work hard until we retire at 55.
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  #10875 (permalink)  
Old 02-03-2017, 10:41 PM
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Will be 57yrs this birthday and happily married with 2 gals, one upper primary and the other upper secondary. Have a fully paid $1m HDB and drives a fully paid 3yr VW SUV? Earn abt $130k pa and this will be my final year working before retiring. Have $500k cash and $500k CPF. I'm not including my wife funds as I would like her money to be hers.

During my retirement from 58 yrs to 65 yrs (8 yrs), I will just do a simple drawdown from my $500k cash component of $4k each month. Which means i will drawdown say, $50k pa. Multiply by 8 yrs total drawdown amt will be $400k. The $100k is buffer funds.

I have $300k lock up in the RA ERS and Medisave account. The excess $200k is now earning compound interest. After 65 yrs, I will be able to have a monthy sum of $3k ($2k from CPF ERS for life and $1k from my excess funds for 20 yrs).

My wife will be working and she will pay for our maid salary and levy. That means we can continue to have a maid.

I have plans to buy an EA or EM at max $700k and cash out my current flat. The balance monies will be used to co-fund my gals tertiary education if so required.

Right, i am figuring out how to spend my retirement time.
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  #10876 (permalink)  
Old 02-03-2017, 11:11 PM
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Quote:
Originally Posted by Unregistered View Post
Will be 57yrs this birthday and happily married with 2 gals, one upper primary and the other upper secondary. Have a fully paid $1m HDB and drives a fully paid 3yr VW SUV? Earn abt $130k pa and this will be my final year working before retiring. Have $500k cash and $500k CPF. I'm not including my wife funds as I would like her money to be hers.

During my retirement from 58 yrs to 65 yrs (8 yrs), I will just do a simple drawdown from my $500k cash component of $4k each month. Which means i will drawdown say, $50k pa. Multiply by 8 yrs total drawdown amt will be $400k. The $100k is buffer funds.

I have $300k lock up in the RA ERS and Medisave account. The excess $200k is now earning compound interest. After 65 yrs, I will be able to have a monthy sum of $3k ($2k from CPF ERS for life and $1k from my excess funds for 20 yrs).

My wife will be working and she will pay for our maid salary and levy. That means we can continue to have a maid.

I have plans to buy an EA or EM at max $700k and cash out my current flat. The balance monies will be used to co-fund my gals tertiary education if so required.

Right, i am figuring out how to spend my retirement time.
Your post sounds like a csb.

For a parent, you should know that your retirement age is pretty much defined by the age of your youngest child and not simplistic financial calculation.

I am a parent.
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  #10877 (permalink)  
Old 03-03-2017, 07:22 AM
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Quote:
Originally Posted by Unregistered View Post
Will be 57yrs this birthday and happily married with 2 gals, one upper primary and the other upper secondary. Have a fully paid $1m HDB and drives a fully paid 3yr VW SUV? Earn abt $130k pa and this will be my final year working before retiring. Have $500k cash and $500k CPF. I'm not including my wife funds as I would like her money to be hers.

During my retirement from 58 yrs to 65 yrs (8 yrs), I will just do a simple drawdown from my $500k cash component of $4k each month. Which means i will drawdown say, $50k pa. Multiply by 8 yrs total drawdown amt will be $400k. The $100k is buffer funds.

I have $300k lock up in the RA ERS and Medisave account. The excess $200k is now earning compound interest. After 65 yrs, I will be able to have a monthy sum of $3k ($2k from CPF ERS for life and $1k from my excess funds for 20 yrs).

My wife will be working and she will pay for our maid salary and levy. That means we can continue to have a maid.

I have plans to buy an EA or EM at max $700k and cash out my current flat. The balance monies will be used to co-fund my gals tertiary education if so required.

Right, i am figuring out how to spend my retirement time.
Good info. Enjoy life when you can and spend more time with family. Disregard the poster who think one shld retire based on the age of the youngest child. Let him be as he might not enjoy what you are doing now.
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  #10878 (permalink)  
Old 03-03-2017, 08:07 AM
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Good plan. You can sell your $1m HDB flat and the buy a $450k EA or EM. You can get at this price in today's buyers market. We have an oversupply of properties.

There are many activities you can do doing retirement. You can just do a search on "retirement activities".



Quote:
Originally Posted by Unregistered View Post
Will be 57yrs this birthday and happily married with 2 gals, one upper primary and the other upper secondary. Have a fully paid $1m HDB and drives a fully paid 3yr VW SUV? Earn abt $130k pa and this will be my final year working before retiring. Have $500k cash and $500k CPF. I'm not including my wife funds as I would like her money to be hers.

During my retirement from 58 yrs to 65 yrs (8 yrs), I will just do a simple drawdown from my $500k cash component of $4k each month. Which means i will drawdown say, $50k pa. Multiply by 8 yrs total drawdown amt will be $400k. The $100k is buffer funds.

I have $300k lock up in the RA ERS and Medisave account. The excess $200k is now earning compound interest. After 65 yrs, I will be able to have a monthy sum of $3k ($2k from CPF ERS for life and $1k from my excess funds for 20 yrs).

My wife will be working and she will pay for our maid salary and levy. That means we can continue to have a maid.

I have plans to buy an EA or EM at max $700k and cash out my current flat. The balance monies will be used to co-fund my gals tertiary education if so required.

Right, i am figuring out how to spend my retirement time.
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  #10879 (permalink)  
Old 03-03-2017, 11:16 AM
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Quote:
Originally Posted by Unregistered View Post
Will be 57yrs this birthday and happily married with 2 gals, one upper primary and the other upper secondary. Have a fully paid $1m HDB and drives a fully paid 3yr VW SUV? Earn abt $130k pa and this will be my final year working before retiring. Have $500k cash and $500k CPF. I'm not including my wife funds as I would like her money to be hers.

During my retirement from 58 yrs to 65 yrs (8 yrs), I will just do a simple drawdown from my $500k cash component of $4k each month. Which means i will drawdown say, $50k pa. Multiply by 8 yrs total drawdown amt will be $400k. The $100k is buffer funds.

I have $300k lock up in the RA ERS and Medisave account. The excess $200k is now earning compound interest. After 65 yrs, I will be able to have a monthy sum of $3k ($2k from CPF ERS for life and $1k from my excess funds for 20 yrs).

My wife will be working and she will pay for our maid salary and levy. That means we can continue to have a maid.

I have plans to buy an EA or EM at max $700k and cash out my current flat. The balance monies will be used to co-fund my gals tertiary education if so required.

Right, i am figuring out how to spend my retirement time.
You should retire if you feel miserable working or at your current workplace. Otherwise, why retire? You can go slow if you want but bear in mind that retirement life is not all that rosy. I don't see a lot of happy and healthy retirees around.....
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  #10880 (permalink)  
Old 03-03-2017, 01:33 PM
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Your post sounds like a csb.

For a parent, you should know that your retirement age is pretty much defined by the age of your youngest child and not simplistic financial calculation.

I am a parent.
Do u realise the last 10 posts were all made by the same person talking to himself?
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