How much are you earning per annum?

Low income guy, 50 yo. Income $45k pa only. 3 room flat paid up. No other assets except CPF savings.

Thinking of retiring in a cheaper place. Some people here suggested Malaysia and Thailand. I think we will retire in JB when we reach 55. We can rent a new 3 room condo for RM1500 pm. Other expenses such as food, car, electricity, water, entertainment, medical and travel will cost us RM3500 pm. In total we will spend RM5000 pm.

We will rent out our flat at S$2000 pm and convert to RM6400 pm. This passive income will pay for our retirement expenses in JB. We can still save RM1400 pm.

When we reach 65, our CPF Life will give us S$4000 pm. After convert to RM, we will get RM12400 pm. So our total passive income will be RM18800 pm. We can upgrade our retirement by renting a condo in a prime location in KL. We can also go holidays to Europe every year.

Originally Posted by Unregistered

I have 3 paid up properties (1 2BR China condo w/tenant, 1 3BR MY Condo and 1 5BR HDB), currently living in HDB.

Just bought a new 3BR Condo, but on around 800k loan.

My wife and I having full time job now and planning to retire earlir. But our kid is still 5 years old studying in SG, which make us wonder how long we need to wait for our early retirement.

We plan to live and work in JB ard 2023 when RTS really start, so that we can rent out our 2 SG properties for rental.

I am ard 44 age and wife is 42 now.

Anyone can advise us how we can go about our early retirement? Thanks.

Fake profile.

Lemme explain.

In the first 2 lines, he said he had 1 CHINA condo, 1 MY condo and 1 HDB

3 lines from the bottom he said will rent out 2 SG propertIES. It can't be a typo cos the auto correct dies t change 1 to 2 and he also uses the plural form of property.....

Basically he couldn't make up his mind over what yarn he wanted to spin...

Originally Posted by Unregistered

Fake profile.

Lemme explain.

In the first 2 lines, he said he had 1 CHINA condo, 1 MY condo and 1 HDB

3 lines from the bottom he said will rent out 2 SG propertIES. It can't be a typo cos the auto correct dies t change 1 to 2 and he also uses the plural form of property.....

Basically he couldn't make up his mind over what yarn he wanted to spin...

I am not the above person but i just want to clarify the thoughts here (and ensure we keep the thread friendly and/or useful:

He probably has 4 properties in total:
- 3 paid up (1x CN, 1x MY, 1x HDB)
- 1 newly bought (3BR Condo with 800k loan; assume it is in SG)

To which he will rent out his 2 SG properties (HDB and 3BR).

Yes, You are Right!!

Some have green eye and comment fake profile and poor grammar of others.

The guy is just sharing and ask for advise.

Originally Posted by Unregistered

I am not the above person but i just want to clarify the thoughts here (and ensure we keep the thread friendly and/or useful:

He probably has 4 properties in total:
- 3 paid up (1x CN, 1x MY, 1x HDB)
- 1 newly bought (3BR Condo with 800k loan; assume it is in SG)

To which he will rent out his 2 SG properties (HDB and 3BR).

We are ready to retire at 55 because we have paid off our 3 bedroom condo's mortgage and our children are grown up. We are debt free too. At 55, we can also collect our CPF money in our OA.

We have been saving and investing for more than 30 years and now enjoy a healthy income from our investments and savings that would be enough for the two of us in retirement. Our passive income is $4000 pm while our expected expenses is $3000 pm. We can save $1000 pm ($12,000 pa) to take care of future inflation. Our passive income will rise when we reach 65 as our CPF Life (annuity) will give us monthly payouts.

Our monthly expenses for the two of us would include food & groceries ($800), condo fees, property tax and utilities ($600), public transport ($100), medical fees & insurance ($600), overseas holidays ($700), and miscellaneous items ($200).

We plan to do active charity work when our retirement starts. We believe those who are better off and more successful in life must help the less fortunate ones. This way our society will be a more compassionate society. Donating money alone will not be good enough, we want to be on the ground helping the poor and needy.

We do not want to work until our 70s as some may suggest as we might pass away in our 80s. 10 years of retirement after so many years of work is not good enough. We could also be sickly when we approach our 70s. We want to enjoy a longer retirement. We want to travel the world during non-peak seasons (a lot cheaper and less crowded than the typical peak seasons). We want to travel while we are still healthy and mobile. Our 55 - 65 age bracket is actually the best retirement period as we are not too old and still healthy to travel the world.

Besides charity work, we have listed a whole range of activities which will keep us busy and mentally active. We know of successful people who retired in their 50s and they are enjoying every moment of their retirement. There are also high flyers from the finance industry who retired in their late 40s after making a fortune. We look forward to join them.

A very well planned retirement. Not many people can retire at 55. Most people spend too much on cars, holidays, etc. and still have to work in their 60s and 70s. You are among the brilliant few.

Originally Posted by Unregistered

We are ready to retire at 55 because we have paid off our 3 bedroom condo's mortgage and our children are grown up. We are debt free too. At 55, we can also collect our CPF money in our OA.

We have been saving and investing for more than 30 years and now enjoy a healthy income from our investments and savings that would be enough for the two of us in retirement. Our passive income is $4000 pm while our expected expenses is $3000 pm. We can save $1000 pm ($12,000 pa) to take care of future inflation. Our passive income will rise when we reach 65 as our CPF Life (annuity) will give us monthly payouts.

Our monthly expenses for the two of us would include food & groceries ($800), condo fees, property tax and utilities ($600), public transport ($100), medical fees & insurance ($600), overseas holidays ($700), and miscellaneous items ($200).

We plan to do active charity work when our retirement starts. We believe those who are better off and more successful in life must help the less fortunate ones. This way our society will be a more compassionate society. Donating money alone will not be good enough, we want to be on the ground helping the poor and needy.

We do not want to work until our 70s as some may suggest as we might pass away in our 80s. 10 years of retirement after so many years of work is not good enough. We could also be sickly when we approach our 70s. We want to enjoy a longer retirement. We want to travel the world during non-peak seasons (a lot cheaper and less crowded than the typical peak seasons). We want to travel while we are still healthy and mobile. Our 55 - 65 age bracket is actually the best retirement period as we are not too old and still healthy to travel the world.

Besides charity work, we have listed a whole range of activities which will keep us busy and mentally active. We know of successful people who retired in their 50s and they are enjoying every moment of their retirement. There are also high flyers from the finance industry who retired in their late 40s after making a fortune. We look forward to join them.

I'm 50 and retired from jet setting corporate life. I have accumulated enough funds which give me regular passive income to sustain my retirement till death. I'm now doing business consulting on a pro bono basis to help those in need. It is my way of giving back to society.

I am happy with my current new life thus far. I start my day with morning exercise and followed by a healthy breakfast. This will take about two hours. I will then read the business news, analyst reports and review my investment portfolio.

Since my retirement, my super high stress level dropped significantly. My hypertension, high cholesterol and high sugar levels are now back to normal. I have also lost weight. My body is leaner and tougher. I have reduced the risk of stroke and sudden death. I'm a lot healthier and happier now. Life is wonderful.

Life is short. Take care of your health. Don't work so hard till you suddenly drop dead. No amount of wealth can make you happy if you are sick and dying. Don't be greedy in chasing for more and more wealth. It is not worth it.

Inspiring!!

May I know what do you invest to secure a passive income of $48K/yr?

On rental income, shares dividend, UT, bonds, SN, SD, annuity, insurance, etc?

I like to achieve the same amount of passive income. Currently vested on SN, UT and shares, annuity. My passive income is in the range of $32K.

I guess you need to have at least around $2M to achieve such passive income.

Thanks

Originally Posted by Unregistered

We are ready to retire at 55 because we have paid off our 3 bedroom condo's mortgage and our children are grown up. We are debt free too. At 55, we can also collect our CPF money in our OA.

We have been saving and investing for more than 30 years and now enjoy a healthy income from our investments and savings that would be enough for the two of us in retirement. Our passive income is $4000 pm while our expected expenses is $3000 pm. We can save $1000 pm ($12,000 pa) to take care of future inflation. Our passive income will rise when we reach 65 as our CPF Life (annuity) will give us monthly payouts.

Our monthly expenses for the two of us would include food & groceries ($800), condo fees, property tax and utilities ($600), public transport ($100), medical fees & insurance ($600), overseas holidays ($700), and miscellaneous items ($200).

We plan to do active charity work when our retirement starts. We believe those who are better off and more successful in life must help the less fortunate ones. This way our society will be a more compassionate society. Donating money alone will not be good enough, we want to be on the ground helping the poor and needy.

We do not want to work until our 70s as some may suggest as we might pass away in our 80s. 10 years of retirement after so many years of work is not good enough. We could also be sickly when we approach our 70s. We want to enjoy a longer retirement. We want to travel the world during non-peak seasons (a lot cheaper and less crowded than the typical peak seasons). We want to travel while we are still healthy and mobile. Our 55 - 65 age bracket is actually the best retirement period as we are not too old and still healthy to travel the world.

Besides charity work, we have listed a whole range of activities which will keep us busy and mentally active. We know of successful people who retired in their 50s and they are enjoying every moment of their retirement. There are also high flyers from the finance industry who retired in their late 40s after making a fortune. We look forward to join them.

24 years old
Diploma holder only
Basic Salary 2.5K/month
Monthly average salary with OT 3.4K
Bonus 2-3 months per annum
16k cash
10k CPF
7K REITs stocks

Any advice for me? 🙏

I will be retiring next year at 65. Prudent savings has build up a good nest egg. Based on conservative 3% returns I will be able to draw about 10k/month out of my funds over the next 30 years. 95 is a old age for planning but if I leave early the balance can be given to my kids.

Building nest egg is most important and many young people don't do this. I blame it on the new millenia "YOLO" culture, they only know to spend money when they get money and don't save for the future.

I am looking forward to enjoying my retirement with 10k/month. My monthly cash flow will be higher than 70% of Singaporeans, in fact it is even more than the monthly salary of my 2 kids who are only making 8k as professionals in their early 30s. I will not set aside any special money for them when I pass on as they are responsible for building up their own nest eggs.