| Unregistered |
18-04-2021 04:21 PM |
Congratulations. You both are among the rare successful couples in Singapore that can retire at 55. Well done!
Retiring in a 3 room HDB flat makes sense as it easier to maintain. No need to pay so much maintenance condo fees every month. Most people don’t use the condo facilities anyway.
Enjoy your retirement. Travel the world while you’re not too old. You can travel cheap during off peak seasons.
I have enjoyed my retirement for the past few years. I am lucky to retire at 45 years old after working long hours for many years in the corporate sector.
Welcome to the retirees club!
Quote:
Originally Posted by Unregistered
(Post 165843)
We will be 55 soon and plan to retire. When we reach 55, we will go for the Enhanced Retirement Sum option of the CPF Life. This gives us about $2.1k pm from age 65 onwards. So our passive income will be $4.2k pm or $50k pa. This is a lot for a retired couple as we plan to cook our meals and will travel by public transportation.
Between age 55 to 65, we will need about $5k pm or $60k pa. In total $600k over 10 years. We can get this amount of cash by selling our $1 mil condo and then buying a 3 room HDB flat for $300k paid in full cash. Living in a 3 room HDB flat has many advantages as we get to enjoy utilities rebate which we don’t enjoy now as we are living in a condo.
Life is short.
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