How much are you earning per annum?

Originally Posted by Unregistered

I am 32 years old, female. In IT line.

Earning 126k per annum and 12k annual bonus.
Savings: 250k
Own a 4 bedroom flat solely, brought at 305k and left with 180k loan.
Married with one child

Looking to retire at 55. Currently saving 5-6k per month.

How am I doing?

You are married and the 4 room flat is under your name only?

Any particular reason?

Originally Posted by Unregistered

You are married and the 4 room flat is under your name only?

Any particular reason?

Yes because I brought the hdb flat with my mom as occupier when my mom is divorce beforeI marriage. so that why the hdb flat is solely paid by myself with no husband name in there. Currently I am staying with parents in law in landed and my mom is still staying in the flat. =)

Originally Posted by Unregistered

Yes because I brought the hdb flat with my mom as occupier when my mom is divorce beforeI marriage. so that why the hdb flat is solely paid by myself with no husband name in there. Currently I am staying with parents in law in landed and my mom is still staying in the flat. =)

Ok understand.

For female 32yo drawing 126k, you should be around the 92nd to the 95th percentile.

Retiring at 55 shouldn't be an issue lah.... Provided don't meet any of life's surprises.

The more pertinent question would be, what does a person do with time if she has another 30 years to go......

Originally Posted by Unregistered

Ok understand.

For female 32yo drawing 126k, you should be around the 92nd to the 95th percentile in your age group

Retiring at 55 shouldn't be an issue lah.... Provided don't meet any of life's surprises.

The more pertinent question would be, what does a person do with time if she has another 30 years to go......

Amendment....

Originally Posted by Unregistered

Amendment....

Thank you! I am trying to plan and diligently save. =)

Originally Posted by Unregistered

Thank you! I am trying to plan and diligently save. =)

Why worry. Your rich hubby can support you. Can just relax.

Originally Posted by Unregistered

It is not a good sign if you are unable to sleep at night due to job stress. Like that how to last till 55 in your job?

The bonus amount is pitiful. If you take away the 13th month, it is only 1 month bonus?

By the way, what is a 4 bedroom flat? Is it a jumbo HDB flat? If so, at $305k, you have got a good deal.

Hi, I didn't say I can't sleep and is stress? I am just wondering if I am on the right track to savings. Besides 12k bonus, we have stocks as well which I didn't factor in. I think I have receive 30k Sgd dollars stocks last month but cos it is only to be sold off after vested. 4 room flat means 3 bedrooms. It is a hdb flat. The valuation now should be 500-600k.

Originally Posted by Unregistered

Why worry. Your rich hubby can support you. Can just relax.

Lol! Woman needs to be independent and nowadays we can't just depend on husband to earn the living =)

44 & 46, $160k pa combined.
Lives in a condo currently worth $1m with $200k mortgage left.
Drives a 1 year old car, paid up.
We enjoy a happy family life.
Our work is not so demanding and we have lots of time with your children.
We go for overseas holidays once a year, spending $10k pa on holidays.
We have some cash savings, stocks and CPF savings, totalling $500k.
Total combined net worth $1.3m.
We plan to retire by 55.

Retirement plan

1. Sell our condo for $1m, assuming price do not go up any further. Our mortgage will be cleared by then.
2. Buy a 2 room BTO flat for the elderly for $100k.
3. Invest $1.5m (from condo sales proceeds plus cash savings) in 5% dividend yield stocks. Get $75k pa of dividends.
4. Children will contribute $2k pm ($1k pm per child). This is $24k pa.
5. Total passive income $99k pa.
6. Spending $50k pa (simple retirement life with no maid and car$.
7. Savings $49k pa.
8. At 65, we will get $3600 pm from CPF Life or $43.2k pa.
9. If spending increase to $60k pa, our savings will be $82.2k pa. We can use this to travel the world.

Excellent retirement plan. It is fortunate that we can all buy a 2 room BTO flat when we retire at 55. This frees up a lot of cash from our current property. $100k for a new flat is incredibly cheap.

In my case, I am fortunate to have a bit more. I will sell my current 3 room condo for $1.8m and buy a prime location one bedroom condo next to an MRT station for $1m. After that, I will have close to $1.5m, including my cash savings, to invest and earn passive income. I am looking forward to retire at 55, just another 7 years to go.

Originally Posted by Unregistered

44 & 46, $160k pa combined.
Lives in a condo currently worth $1m with $200k mortgage left.
Drives a 1 year old car, paid up.
We enjoy a happy family life.
Our work is not so demanding and we have lots of time with your children.
We go for overseas holidays once a year, spending $10k pa on holidays.
We have some cash savings, stocks and CPF savings, totalling $500k.
Total combined net worth $1.3m.
We plan to retire by 55.

Retirement plan

1. Sell our condo for $1m, assuming price do not go up any further. Our mortgage will be cleared by then.
2. Buy a 2 room BTO flat for the elderly for $100k.
3. Invest $1.5m (from condo sales proceeds plus cash savings) in 5% dividend yield stocks. Get $75k pa of dividends.
4. Children will contribute $2k pm ($1k pm per child). This is $24k pa.
5. Total passive income $99k pa.
6. Spending $50k pa (simple retirement life with no maid and car$.
7. Savings $49k pa.
8. At 65, we will get $3600 pm from CPF Life or $43.2k pa.
9. If spending increase to $60k pa, our savings will be $82.2k pa. We can use this to travel the world.