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How much are you earning per annum?

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  #13761 (permalink)  
Old 01-04-2023, 02:26 PM
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We are both 53 yo, planning to retire at 55.
When we reach 55, we will get our CPF ($200k). We will also put money in CPF Life Enhanced Retirement Sum. We also have other sources of passive income. In total our passive income $70k pa from 65 yo onwards.

To fund our retirement from 55 yo to 65 yo, we need cash. We can sell our condo for $1.1 mil and buy a 4 room HDB flat ($500k), which will give us a net cash of $600k. Our CPF $200k. So we have cash $800k. We will need about $400k for the ten years ($40k pa).

Looking forward to retiring at 55. There is no need to work until 65 to 70 yo. Some people die in their 50s and 60s. Thereís no guarantee we wonít be one of them. Work so hard and never get to enjoy retirement. So sad.

When we die we will leave behind for our children our HDB flat, cash, stocks and life insurance payout.

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  #13762 (permalink)  
Old 01-04-2023, 04:08 PM
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damn, all these people can probably retire early. I'm 29F, only drawing 150k/annum, private grad. That's like below average here.
Want stead?



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  #13763 (permalink)  
Old 01-04-2023, 07:50 PM
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Want stead?
comeeeeeeeeeeeeeeeeeeeeeeeeee

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  #13764 (permalink)  
Old 02-04-2023, 12:09 PM
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Originally Posted by Unregistered View Post
We are both 53 yo, planning to retire at 55.
When we reach 55, we will get our CPF ($200k). We will also put money in CPF Life Enhanced Retirement Sum. We also have other sources of passive income. In total our passive income $70k pa from 65 yo onwards.

To fund our retirement from 55 yo to 65 yo, we need cash. We can sell our condo for $1.1 mil and buy a 4 room HDB flat ($500k), which will give us a net cash of $600k. Our CPF $200k. So we have cash $800k. We will need about $400k for the ten years ($40k pa).

Looking forward to retiring at 55. There is no need to work until 65 to 70 yo. Some people die in their 50s and 60s. Thereís no guarantee we wonít be one of them. Work so hard and never get to enjoy retirement. So sad.

When we die we will leave behind for our children our HDB flat, cash, stocks and life insurance payout.
Excellent retirement plan. Do travel the world during off peak seasons. Since youíre retired you can do this. Retirement can be enjoyable if youíre healthy. No point earning millions and then got sick by the time you retire. We donít need to leave behind millions to our children as they should earn their own wealth.
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  #13765 (permalink)  
Old 03-04-2023, 01:10 PM
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How much does a retiree need per month assuming no debt?


Food ($20 x 30) = $600
Utilities $150
Public transport $50
Medical insurance and fees $400
Groceries $400
Misc $400
Total $2000

This can be financed by CPF Life. So no need to have a million dollars in the bank to retire.
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  #13766 (permalink)  
Old 03-04-2023, 09:05 PM
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i'm 43 earn 130k per annum
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  #13767 (permalink)  
Old 04-04-2023, 10:19 AM
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i'm 43 earn 130k per annum
Thatís a lot. Do you own and live in a condo?
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  #13768 (permalink)  
Old 04-04-2023, 04:51 PM
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How much does a retiree need per month assuming no debt?


Food ($20 x 30) = $600
Utilities $150
Public transport $50
Medical insurance and fees $400
Groceries $400
Misc $400
Total $2000

This can be financed by CPF Life. So no need to have a million dollars in the bank to retire.
$1500 pm is actually sufficient
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  #13769 (permalink)  
Old 04-04-2023, 08:41 PM
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Thatís a lot. Do you own and live in a condo?
hdb 3 room
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  #13770 (permalink)  
Old 04-04-2023, 09:22 PM
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comeeeeeeeeeeeeeeeeeeeeeeeeee
I am serious please.


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