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How much are you earning per annum?

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  #13601 (permalink)  
Old 11-02-2023, 10:14 PM
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Next year I will be 55. I will set aside $309k for my CPF Life Enhanced Retirement Sun (ERS) so that I will receive $2500 pm at 65.

I will also retire next year as I have $500k (cash + CPF) for me to spend from 55 to 65. I will not spend the whole amount. I expect to spend $30k pa in retirement.

My 3 bedroom luxury condominium unit is fully paid up and I am debt free.

My CPF Life and condo are my retirement assets.

Although Iím not rich, I consider myself lucky and successful in life.

Time for me to relax next year. Iíve been working so hard for a long time.

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  #13602 (permalink)  
Old 12-02-2023, 05:15 AM
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Quote:
Originally Posted by Unregistered View Post
Next year I will be 55. I will set aside $309k for my CPF Life Enhanced Retirement Sun (ERS) so that I will receive $2500 pm at 65.

I will also retire next year as I have $500k (cash + CPF) for me to spend from 55 to 65. I will not spend the whole amount. I expect to spend $30k pa in retirement.

My 3 bedroom luxury condominium unit is fully paid up and I am debt free.

My CPF Life and condo are my retirement assets.

Although Iím not rich, I consider myself lucky and successful in life.

Time for me to relax next year. Iíve been working so hard for a long time.

Are you married with kids?

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  #13603 (permalink)  
Old 12-02-2023, 07:30 AM
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Good retirement plan. Retirement is all about lifestyle. If you need $200k pa to retire, then you will never retire. You have a luxury condo which you can monetise if you need to. $30k pa is actually quite a lot for a retiree who is debt free. Food and utilities should not cost too much for a single person. Unless you eat at restaurants frequently.


Quote:
Originally Posted by Unregistered View Post
Next year I will be 55. I will set aside $309k for my CPF Life Enhanced Retirement Sun (ERS) so that I will receive $2500 pm at 65.

I will also retire next year as I have $500k (cash + CPF) for me to spend from 55 to 65. I will not spend the whole amount. I expect to spend $30k pa in retirement.

My 3 bedroom luxury condominium unit is fully paid up and I am debt free.

My CPF Life and condo are my retirement assets.

Although Iím not rich, I consider myself lucky and successful in life.

Time for me to relax next year. Iíve been working so hard for a long time.

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  #13604 (permalink)  
Old 12-02-2023, 11:09 AM
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LOL it's the same nerd just making up fake retirement plans and replying to himself. Notice how he's always quoting the posts before the actual post.

Probably a dumbass boomer. Uncle, you're supposed to write your self-praise nonsense after the [QUOTE] tag, not before.


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  #13605 (permalink)  
Old 12-02-2023, 02:56 PM
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Excellent plan, very well thoughtout and concise. Having retirement assets is important at your stage of life.

Quote:
Originally Posted by Unregistered View Post
Next year I will be 55. I will set aside $309k for my CPF Life Enhanced Retirement Sun (ERS) so that I will receive $2500 pm at 65.

I will also retire next year as I have $500k (cash + CPF) for me to spend from 55 to 65. I will not spend the whole amount. I expect to spend $30k pa in retirement.

My 3 bedroom luxury condominium unit is fully paid up and I am debt free.

My CPF Life and condo are my retirement assets.

Although Iím not rich, I consider myself lucky and successful in life.

Time for me to relax next year. Iíve been working so hard for a long time.
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  #13606 (permalink)  
Old 12-02-2023, 06:15 PM
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Never fully trust anything on the web. Take it with a pinch of salt.
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  #13607 (permalink)  
Old 13-02-2023, 08:24 PM
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When I turned 60, I knew it was time to retire. After all, Iíd been working since the age of 18 and had put in over forty years of continuous service. But was it really time to call it quits?

I consulted with my fellow workers and spouses about the best way to go about retiring. We decided on a phased retirement in which I would gradually retire from my day-to-day job over the course of a few years. And fortunately, my company was able to provide me with a generous severance package that made the transition into retirement much easier.

As we approached retirement, my wife and I made sure we enjoyed our last few years by traveling, going fishing/sailing, and spending quality time together as a family. In the end, retiring at 60 was one of the best decisions we ever made Ė we felt like king and queen for having too much fun during our golden years!
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  #13608 (permalink)  
Old 14-02-2023, 01:42 PM
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ꍏꈤꉓꀤꍟꈤ꓄
ꍏꈤꉓꀤꍟꈤ꓄ ꎇꍏꈤꉓꌩ ꎇꂦꈤ꓄ꌗ
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  #13609 (permalink)  
Old 14-02-2023, 02:16 PM
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Basic expenses for a retired couple

Assumptions
Mostly cook at home, occasionally eat at hawker centres, food court and restaurants
No car
HDB flat fully paid. Debt free
No drinking, gambling and smoking
Low cost or free recreational activities
Lead a healthy lifestyle with exercise and cooking healthy meals

Food and groceries $800 pm
Utilities $200 pm
Public transport $100 pm
Medical insurance $600 pm
Recreation $100 pm
Holidays $300 pm
Miscellaneous $400 pm
Total $2500 pm ($1250 pm for one retiree)

Passive income can be from CPF Life, dividends, etc.
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  #13610 (permalink)  
Old 14-02-2023, 02:32 PM
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Quote:
Originally Posted by Unregistered View Post
Next year I will be 55. I will set aside $309k for my CPF Life Enhanced Retirement Sun (ERS) so that I will receive $2500 pm at 65.

I will also retire next year as I have $500k (cash + CPF) for me to spend from 55 to 65. I will not spend the whole amount. I expect to spend $30k pa in retirement.

My 3 bedroom luxury condominium unit is fully paid up and I am debt free.

My CPF Life and condo are my retirement assets.

Although Iím not rich, I consider myself lucky and successful in life.

Time for me to relax next year. Iíve been working so hard for a long time.
You are rich because you own a condo. Not many people can afford a condo.
You have planned your retirement well and deserve an early retirement at 55.
There are those few who are more successful as they retire in their 30s and 40s.
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