44/45, married grad couple, one boy in sec, one boy in pri
$400k pa combined
Lives in a 3 bedroom condo, paid up, Latest valuation around $1.3m
Cash and CPF, $1m
Total net worth $2.3m
Somehow we don't feel we are doing well after reading all the high flyers in this forum

Same here.

38/36 + 3 kids with total net worth $3M but still working hard as target goal for retirement is still far off

Trust me, it's tough guys. My colleagues and I are already in our late fifties and still have to continue working. We have about similar networth of $5m (including our homes) or thereabout but still don't really feel secure enough to retire. This is because we hope to maintain our current lifestyle and age in place. No downgrading to HDB or studio units for us.

We hoped to save up another $1m by the time we hit 65 and call it quits.

Hopefully you don't quit for good when you reach 65. LOL.

Have been observing many PMEs in their 60s in the obituaries pages. LOL.

I'm surprised that there are people whose net worth has reached $5m but still has no confidence to retire. I supposed it all depends on the lifestyle one wants to maintain during retirement.

I would be contented to retire when our net worth reach $2m. My wife and I are happy to retire in our paid up flat which is now worth $500k. Our CPF is now $400k in total. If we have another $1.1m to hit $2m, we tell ourselves that we can already retire. The $1.1m can easily give us $55k pa in dividends. Our current expenditure with 3 kids is around $80k pa. We own a car and employ a maid. So if just the two of us, with no car and no maid, our expenditure can be as low as $30k pa since we are debt free. Our expenses in retirement will be just food, utilities, public transport, medical insurance and some overseas travel.

43 years earn 350k. Wife at home. 2kids. Expenses 150k. Networth 2.1mill. Waiting to buy a condo worth 1.75mill. problem is income may decrease to 2001k range soon so retirement looks difficult.

May I suggest you go and read up the latest HSBC survey on retirement preparedness. Just google "HSBC survey". You will be shocked by the results of the survey.

Actually if you have S$2m in cash (exclude CPF funds), you can already retire.

If you want to retire like a rich tycoon, retire in Malaysia. With the exchange rate now S$1=RM2.70, you will get RM5.4m. You then invest in a low risk security in Malaysia giving you dividends of 4% pa RM216k pa. You can use this passive income to rent a penthouse in KL for RM5k pm (RM60k pa). The rest of the money can be spent eating in posh restaurants, driving a nice sports car, going overseas holidays etc.

If you want to retire like a king, retire in Thailand. You can get Thai Baht 48m when you convert your S$2m. Just invest in a low risk security and enjoy the passive income. You can rent a big mansion near the beach and employ three maids, two cooks, one gardener and two drivers.

Don't be a fool to wait until you are about to die to then retire. Open your mind. Think outside the box.

Don't worry. Here's the formula to retire when you and your wife hit 65.

1. Your 4 room HDB flat is paid up and your children already move out, so you have two empty rooms to rent out.

2. You and your wife have met the CPF min sum. So you get $2,400 pm in total from CPF Life ($1,200 for each person).

3. Each child give $500 pm for you and $500 pm for your wife.

Here's the passive income:

Room rentals from two room (at $1000 pm for each room) = $2,000 pm
CPF Life payout = $2,400 pm
Allowance from children, assuming two children = $2,000 pm
Total passive income = $6,400 pm or $76,800 pa

However this formula is only valid if we continue to welcome FTs so that we can become landlords during our retirement and if you have filial children. If not, then you just sell away your flat and then retire in Malaysia, Thailand or Batam.

Today is the second bidding for Jan, before the tsunami of COE quota increases next quarter. Government has foresight to change it from half yearly revision to quarterly revision. With the knowledge that next bidding will increase 40% quota, will we see a significant drop from the buyers today while they wait patiently to see how much it will drop?? Buyers, hold your horses!