How much are you earning per annum?

Just to add some data on this topic. I have 4.5 years of working experience and my base is 150k/yr. The industry is banking and finance and my role is software engineer.

Originally Posted by Unregistered

Just to add some data on this topic. I have 4.5 years of working experience and my base is 150k/yr. The industry is banking and finance and my role is software engineer.

That’s really really high.

Congratulations. You both are among the rare successful couples in Singapore that can retire at 55. Well done!

Retiring in a 3 room HDB flat makes sense as it easier to maintain. No need to pay so much maintenance condo fees every month. Most people don’t use the condo facilities anyway.

Enjoy your retirement. Travel the world while you’re not too old. You can travel cheap during off peak seasons.

I have enjoyed my retirement for the past few years. I am lucky to retire at 45 years old after working long hours for many years in the corporate sector.

Welcome to the retirees club!

Originally Posted by Unregistered

We will be 55 soon and plan to retire. When we reach 55, we will go for the Enhanced Retirement Sum option of the CPF Life. This gives us about $2.1k pm from age 65 onwards. So our passive income will be $4.2k pm or $50k pa. This is a lot for a retired couple as we plan to cook our meals and will travel by public transportation.

Between age 55 to 65, we will need about $5k pm or $60k pa. In total $600k over 10 years. We can get this amount of cash by selling our $1 mil condo and then buying a 3 room HDB flat for $300k paid in full cash. Living in a 3 room HDB flat has many advantages as we get to enjoy utilities rebate which we don’t enjoy now as we are living in a condo.

Life is short.

27yo, 120k base, doing finance

I'm 31 this year, 22k per month. Have 3 businesses that I run with my friends from uni days.

Originally Posted by Unregistered

27yo, 120k base, doing finance

What industry are you doing this finance role for?

Originally Posted by Unregistered

We will be 55 soon and plan to retire. When we reach 55, we will go for the Enhanced Retirement Sum option of the CPF Life. This gives us about $2.1k pm from age 65 onwards. So our passive income will be $4.2k pm or $50k pa. This is a lot for a retired couple as we plan to cook our meals and will travel by public transportation.

Between age 55 to 65, we will need about $5k pm or $60k pa. In total $600k over 10 years. We can get this amount of cash by selling our $1 mil condo and then buying a 3 room HDB flat for $300k paid in full cash. Living in a 3 room HDB flat has many advantages as we get to enjoy utilities rebate which we don’t enjoy now as we are living in a condo.

Life is short.

This is an awesome plan! You’re a million couple. 55 years old is a bit late to retire but it’s better late than never!

I am in my fifties. I am motivated to retire before I reach 65 yo. How much savings do we need to retire before 65? Any advice? Thanks

Fresh grad 8k/month

[Journete]

Originally Posted by Unregistered

Fresh grad 8k/month

Wow! What are you working as?