How much are you earning per annum?

Me earn 185k and wife earns 200k. Me 39 years and wife 37 years.

We live in lovely condo near CBD.

Drive a lovely beemer.

Originally Posted by Unregistered

Contented upper middle class, late 40s couple.
Total earnings $180k pa. Home is a 3 bedder luxury condo, paid up.
Bought a new car with cash savings. No loan.
We grew up in a lower income family.
We are happy to climb up the social ladder.
We are better than our parents' generation.
Total net worth $2m.

You can retire at 55 yo without the need to downgrade. You can retire in place in your condo to enjoy the swimming pool and gym everyday.

Let's say your condo is worth $1m and your combined CPF is $500k. This means you have $500k cash to spend for retirement from 55 yo to 65 yo. At 65, your CPF Life will give a combined $4k pm or $48k pa.

Let's say you spend $3k pm or $36k pa from 55 yo to 65 yo, provided you have no maid and no car. So in total you will spend $360k over ten years. This is covered by the $500k cash.

When you pass away, you can leave behind the condo to your children.

Originally Posted by Unregistered

Contented upper middle class, late 40s couple.
Total earnings $180k pa. Home is a 3 bedder luxury condo, paid up.
Bought a new car with cash savings. No loan.
We grew up in a lower income family.
We are happy to climb up the social ladder.
We are better than our parents' generation.
Total net worth $2m.

You are the upper echelon of the society in SG

Congrats

Originally Posted by Unregistered

You can retire at 55 yo without the need to downgrade. You can retire in place in your condo to enjoy the swimming pool and gym everyday.

Let's say your condo is worth $1m and your combined CPF is $500k. This means you have $500k cash to spend for retirement from 55 yo to 65 yo. At 65, your CPF Life will give a combined $4k pm or $48k pa.

Let's say you spend $3k pm or $36k pa from 55 yo to 65 yo, provided you have no maid and no car. So in total you will spend $360k over ten years. This is covered by the $500k cash.

When you pass away, you can leave behind the condo to your children.

Sounds like a great advice. Thanks !

Couple age 45

Filed income tax report with annual $480k


Owns a OCR 3 bedders paid up


Owns a new luxury car paid up


Cash and CPF on hand $2M


Hope to retire in 10 years time


Need to get out of the stressful work life


And enjoy our retirement by traveling leisurely

Originally Posted by unregistered

couple age 45

filed income tax report with annual $480k


owns a ocr 3 bedders paid up


owns a new luxury car paid up


cash and cpf on hand $2m


hope to retire in 10 years time


need to get out of the stressful work life


and enjoy our retirement by traveling leisurely

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Young couple age 30,29

Annual income $80k total

Just got married and waiting for BTO flat

Plans to have 2 children within next 3-5 years

Hope to save up for retirement by 55

It's encouraging to see so many rich people in this forum.

Originally Posted by Unregistered

Young couple age 30,29

Annual income $80k total

Just got married and waiting for BTO flat

Plans to have 2 children within next 3-5 years

Hope to save up for retirement by 55

It's encouraging to see so many rich people in this forum.

You can also be rich. Just flip your BTO flat twice.

Huat ah!!!!

I'm 47 and semi retired. Was an executive in the financial sector. I have made enough.

Now I do some advisory work to spend my time. I also have a lot more time to spend with my family. My children loves me so much more now as I have more time to talk to them, to advise them. I'm like their best friend.

I don't want to be super rich. I'm happy with my wealth. My quality of life is a lot better. Very happy now.

Originally Posted by Unregistered

I'm 47 and semi retired. Was an executive in the financial sector. I have made enough.

Now I do some advisory work to spend my time. I also have a lot more time to spend with my family. My children loves me so much more now as I have more time to talk to them, to advise them. I'm like their best friend.

I don't want to be super rich. I'm happy with my wealth. My quality of life is a lot better. Very happy now.

Congratulations to get off the rat race

And spend more time with your family

Enjoy your free time


Cheers