sorry to hear about your spouse. do not worry, both of you can still retire well. since you save $30k pa, you will have $480k by the time you are 65. at 65, you can sell your condo and buy a small condo or a hdb flat. you will then a cash balance which you can invest. let's say you have $1m cash. you can invest in 5% dividend yeild stocks to give you $50k pa or $4100 pm. Make sure you both each put in $241,500 in your CPF retirement account at 55 so that at 65 you both each will get $1800 pm ($3600 pm as a couple). so in total you will have a passive income of $7766 pm.

Thank you :)

The loan is around $500K, so net worth is about $3.3M

Thanks for the advice.
Actually this is our retirement plan:
1. Sell our condo at a very conservative price of $1.3m in 2031.
2. Invest $1.3m cash in a portfolio of investments giving a conservative 4% dividend yield hence giving us $52k pa or $4333 pm.
3. Get monthly payout of CPF Life $3,600.
4. Buy a condo in Penang from our cash savings. We have family and friends there.
5. Our retirement passive income will be $7,933 pm or $95k pa.
6. Convert to RM, we get RM20,625 pm or RM247k pm.
7. We can travel the world with our savings as the expenses will be just RM4k pm for food, utilities and groceries.

You have a good retirement plan. It is good to be open minded. The world is our oyster. We are lucky as we are among the richest people on the planet. Not many people know or appreciate how fortunate we are. While billions of people struggle to survive, we worry about whether we can afford to upgrade to a condo.

All the world's.....
 

All the world's a stage......... 自导自演，好！

Hi
This year i am 32 year old single. i only have 30k saving. How did you guys save so much

we lie.
I am 28 year old and I have saved 88k so far.

Not guaranteed. the couple can lose all that money too.

the 3 things that are needed: diligent savings, well timed investments and job promotion.

just to share my wife and I had $200K at 28 (we saved about $40K a year combined on average till that point), but some well timed property investments in 2003, 2009 and 2010 netted us around $1.7M.

my income from salary and stock dividends also increased from $3K per month to $20K per month over 11 years, which increased our savings.

that's how we grew our net worth from $200K to $3M in 11 years.

But it's hard to ensure that investments always make money. Corollary: investments can be loss making.

And then there are people who refuse to sell because they do not want to realize the losses. Their money will be stuck for a long time and can't be used for other opportunities.