How much are you earning per annum?

Originally Posted by Unregistered

I reached FIRE ten years ago. Have been enjoying a wonderful ten years of retirement.
Now I’m 53. My condo and car are paid up. Just need $3k pm of expenses. Over the past ten years my condo value has gone up.

Congratulations! Smart for you to retire when you can. There are people who think they will have a long life but died in their 50s or 60s. Home and car are the biggest expenses so not surprising you can retire when they are paid up. Food and utilities are affordable if you don’t eat out much and don’t waste electricity. There are people who just need $1k per month for food and utilities. We don’t need millions in the bank to retire. Most importantly our home is no more mortgage.

Originally Posted by Unregistered

Congratulations! Smart for you to retire when you can. There are people who think they will have a long life but died in their 50s or 60s. Home and car are the biggest expenses so not surprising you can retire when they are paid up. Food and utilities are affordable if you don’t eat out much and don’t waste electricity. There are people who just need $1k per month for food and utilities. We don’t need millions in the bank to retire. Most importantly our home is no more mortgage.

damn this forum is just fking useless huh?

everyone repeating the same generic BS

"if u dont spend a lot, u can save a lot!"
"in life we dont need a lot of money, just enough can already"

what the fk...... water is wet

Originally Posted by Unregistered

damn this forum is just fking useless huh?

everyone repeating the same generic BS

"if u dont spend a lot, u can save a lot!"
"in life we dont need a lot of money, just enough can already"

what the fk...... water is wet

i disagree, u are just a hater who come onto forums to say bad things for no reason

saving money is important, when u save enough u can sustain your lifestyle later on. likewise if u work hard now, u can earn more in the future, its simple logic, not generic.

My wife and I are contemplating retiring at 60 yo. By then our cash savings should sustain us for five years before we reach 65 yo when our CPF Life pays out $5k pm ($60k pa) in total. We are an average Singaporean couple living in a two bedder condominium unit in the OCR which is currently worth only $1.2 million. We own a small car which brings us from Point A to B. Upon retirement we may not need to own a car as we will not need it.

Originally Posted by Unregistered

My wife and I are contemplating retiring at 60 yo. By then our cash savings should sustain us for five years before we reach 65 yo when our CPF Life pays out $5k pm ($60k pa) in total. We are an average Singaporean couple living in a two bedder condominium unit in the OCR which is currently worth only $1.2 million. We own a small car which brings us from Point A to B. Upon retirement we may not need to own a car as we will not need it.

CPF life terms may change by the time you are 65, your plan is not that great tbh, maybe work into your 60s?

Originally Posted by Unregistered

My wife and I are contemplating retiring at 60 yo. By then our cash savings should sustain us for five years before we reach 65 yo when our CPF Life pays out $5k pm ($60k pa) in total. We are an average Singaporean couple living in a two bedder condominium unit in the OCR which is currently worth only $1.2 million. We own a small car which brings us from Point A to B. Upon retirement we may not need to own a car as we will not need it.

Why not retire now? You can sell your condo and buy a 4 room room HDB for $400k. You will then have $800k cash to spend for your retirement expenses from 55 to 65 years old. After 65, then get CPF Life. 80% of people live in HDB flats. Enjoy your retirement early.

Originally Posted by Unregistered

Why not retire now? You can sell your condo and buy a 4 room room HDB for $400k. You will then have $800k cash to spend for your retirement expenses from 55 to 65 years old. After 65, then get CPF Life. 80% of people live in HDB flats. Enjoy your retirement early.

This is an excellent idea especially since you’re retiring here in Singapore and not another country. You will then be considered FIRE when you retire at 55. Many people will be jealous of you.

Me and wife just turn 52.

We have 2 paid up condos, one worth $2.5m and rented one $1.6m.
Stocks balance about $1.3m
CPF balance total about $1.5m
Cash warchest about $0.5m lying around in Tbill and SSB

Our two children are about to start work soon, means they are going to be financially independent of us.

We can retire comfortably in 3 years time when we hit 55.

Life is good in Singapore. Cheers.

My wife and I can retire in a couple of years at 55 after collecting our CPF.
We can sell our condo for $1.1 million and downgrade to a $500k 4-room HDB flat.
We will have cash of about $800k after that.
This cash will be more than enough to finance our retirement from 55 to 65.
At 65 we collect CPF Life of $5k pm or $60k per year in total.
Life is good in Singapore.
Can retire early.

My wife and i can retire in 15 years at 55. Our condo can sell for 5m which is 300% of the current value and withdraw cpf monies in excess of FRS for 3m Another 1m from SRS at 62 before getting ERS at 70 for 200k per annum.
Life is good in Singapore.

In reality, nothing is confirmed except death.