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How much are you earning per annum?

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  #9141 (permalink)  
Old 19-12-2015, 08:53 PM
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This is a good plan since you have families in KL. For us, we will retire in Singapore. We will sell our big condo and downgrade to a smaller condo at 65. Together with our current investments, we will have $1m in investments, which will give us $50k pa in dividends. Our CPF Life will give $43k pa. In total, our passive income will be $93k pa.

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I plan to retire in KL, where I have close relatives. By the time I am 57, I envisage my children to be working, married and living in their own BTO flats. My spouse and I will rent out our paid up Singapore condo for S$3500 pm. We will also have stocks dividend income of S$1500 pm. Total passive income will be S$5000 pm. I can get RM15,000 pm based on S$1=RM3.

Expenses in KL
- Renting a 3 bedroom luxury condo RM3k pm
- Car, paid in full cash RM50k (S$17k).
- Petrol, maintenance, road tax, etc RM1k pm
- Food, groceries, utilities, eating out RM2k pm
- Entertainment, misc RM1k pm
Total expenses RM7k pm
Total savings RM8k pm

When we reach 65, we will have additional passive income of S$3.6k pm from CPF Life for us to save.

We will enjoy a good retirement.

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  #9142 (permalink)  
Old 20-12-2015, 03:37 PM
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My retirement plan at 65

Retire in place in my current 2 bedroom condo, now paid up already
Dividend from stocks $24k pa (4% dividend yield. $600k worth of blue chips)
CPF Life (couple) $43.2k pa
Other investments $6k pa
Total passive income $73.2k pa

Retirement lifestyle
- Stay in current condo to enjoy the swimming pool, gym, tennis court and BBQ
- No car as condo is located next to an MRT station. Also near to malls and market
- No longer need to employ a domestic helper as we (just two retired persons) can cook simple meals and eat out and do our own chores
- Exercise regularly to keep fit
- Volunteer at charities
- Participate in activities at CCs
- Read books
- Watch movies
- Go short holidays to neighbouring countries during off peak seasons
- Many more activities

Please share your plans.

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  #9143 (permalink)  
Old 20-12-2015, 11:05 PM
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a plan is just a plan. if someone says he plans to retire with $10m when all he has is a lousy job, it's not realistic.

my super realistic plan is to get as rich as possible, spend 30% and live realistically with whatever i have at retirement age. if i manage to accumulate $5m before 65, i will retire earlier.

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  #9144 (permalink)  
Old 21-12-2015, 09:50 AM
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I will rent out my condo for $3k pm and retire in JB during my retirement. The $3k will give me RM9k pm which is considered high for a retired couple. I will save my other sources of income from my stocks, allowances, etc so that I can go for big holidays around the world. I will first explore the Americas for a few months during my first year of retirement. During my 3rd year of retirement, I will explore Europe for a few months. Will do the same for Asia and Middle East. Before I die, I want to explore Asia, Middle East, the Americas and Europe.

My expenses in JB

Rent a 3 bedroom condo RM1k pm
Petrol & car related expenses RM500 pm
Food & utilities RM1.5k pm
Misc RM1k pm
Total RM4k pm
Savings RM5k pm (in addition to savings from dividends, etc)
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  #9145 (permalink)  
Old 21-12-2015, 03:08 PM
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Quote:
Originally Posted by Unregistered View Post
a plan is just a plan. if someone says he plans to retire with $10m when all he has is a lousy job, it's not realistic.

my super realistic plan is to get as rich as possible, spend 30% and live realistically with whatever i have at retirement age. if i manage to accumulate $5m before 65, i will retire earlier.
Don't be stupid. If you want to wait until you have $5m to retire, you will probably be working until you die. And all your wealth will then go to your wife and children, who will squander it away as it is not their hard earned money.

Many people in Singapore will retire when they reach 65. Most don't even have $500k savings. How they survive? Many rent out the two empty rooms in their HDB flat and their children give them some allowance. They have some CPF savings and they live a simple life.
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  #9146 (permalink)  
Old 21-12-2015, 03:50 PM
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Husband (41) 150k, wife (39) 120k pa
one son at 5 years old
HDB 4 room fully paid, no car
Cash/CPF/Stock/Unit trust about 1.5m
Plan to retire in 10 years
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  #9147 (permalink)  
Old 21-12-2015, 04:35 PM
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Quote:
Originally Posted by Unregistered View Post
Husband (41) 150k, wife (39) 120k pa
one son at 5 years old
HDB 4 room fully paid, no car
Cash/CPF/Stock/Unit trust about 1.5m
Plan to retire in 10 years
Well done. When both of you retire at ages 51 and 49, your son will be 15. What are your sources of passive income? How do you plan to get the passive income and how much? What's your retirement plan like?
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  #9148 (permalink)  
Old 21-12-2015, 07:39 PM
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42 year old single male
earning 75k per annum
own a HDB house
no car, travel by bus/mrt/cab.
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  #9149 (permalink)  
Old 21-12-2015, 07:55 PM
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Quote:
Originally Posted by Unregistered View Post
42 year old single male
earning 75k per annum
own a HDB house
no car, travel by bus/mrt/cab.
If you have paid off your hdb loan, you can actually retire. Here's how.

Rent out your flat S$2.5k pm
Convert to RM you get RM7.5k pm

Rent a 3 bedroom condo in JB RM1k pm
Food & utilities RM1k pm
Petrol & car related expenses RM500 pm
Misc RM500 pm
Total RM3k pm
Savings RM4.5k pm
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  #9150 (permalink)  
Old 21-12-2015, 09:48 PM
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Just because you cannot save more than $500k in your lifetime doesn't mean others cannot save $5m in theirs.

How do people survive with just $500k when they retire? You should ask them. The government knows it will be difficult for people to survive their retirement if they have little savings. That's why they have been urging people to work as long as they can. Many old retirees have indeed heeded this advise and have returned to work.

And you shouldn't blindly follow people who have the means to retire early. Don't be caught in the situation where you are 70 and your savings run out, and have to go back to work!

Quote:
Originally Posted by Unregistered View Post
Don't be stupid. If you want to wait until you have $5m to retire, you will probably be working until you die. And all your wealth will then go to your wife and children, who will squander it away as it is not their hard earned money.

Many people in Singapore will retire when they reach 65. Most don't even have $500k savings. How they survive? Many rent out the two empty rooms in their HDB flat and their children give them some allowance. They have some CPF savings and they live a simple life.
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