Unregistered |
26-12-2021 04:08 PM |
Quote:
Originally Posted by Unregistered
(Post 193562)
If your HDB flat is fully paid and you have $300k cash, you and wife can retire at 55.
$300k over 10 years (from 55 to 65) is enough for a retired couple as you only need $30k per year to spend on food, utilities and public transport. When you reach 65, you will get at least $4k per month combined ($48k per year) from CPF Life ERS.
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If you’re a humble couple who plans to live a simple retirement lifestyle, then $300k is more than enough to last ten years of expenses. With a fully paid home, no car and other big expenses, your expenses will be manageable.
Food and groceries $1000 pm
Public transport $100 pm
Medical insurance $800 pm
Utilities and mobile $200 pm
Miscellaneous $400 pm
Total $2500 pm or $30k pa
You can relax, exercise and sleep more to lead a happy and relaxed retirement lifestyle and be healthy. Life is short. Enjoy. No need millions to retire.
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