w o l s I can retire with half a mil in 25 years time

[1982-1994]

even with just $50 increment every year
can hit FRS at 55yo
HDB loan cleared at 67yo with $60k of interest excluding accrued interest
just my portion alone
I am actually lowballing my wealth because variable bonus is factored out




but....



if my kid comes along.....
then work till die ,may go pick up cardboard....


hit the max of MA first!

inb4 replies from edmw elites who earn at least $20k/mth

 

[treeskull]

If u single think can retire in 10?

 

[1982-1994]

If u single think can retire in 10?

haha I am married

 

[treeskull]

haha I am married

Oh then

 

[hachi]

For many quite easy... For a couple also easy to hit 1 mil. But many choose big loan to look like the top 20%. Many old colleagues can have more than 500k in their cpf when their peak pay is only 4.4k. So why not?

 

[Frankboi2]

Hw much u earn a mth bro
Why so satki

 

[1982-1994]

Hw much u earn a mth bro
Why so satki

$3500 nia

max out medisave account first
monthly allocation and yearly interest of MA goes to SA
once FRS is met, monthly allocation and yearly interests of MA and SA flow to OA

 

[1982-1994]

For many quite easy... For a couple also easy to hit 1 mil. But many choose big loan to look like the top 20%. Many old colleagues can have more than 500k in their cpf when their peak pay is only 4.4k. So why not?

my loan is going to be $160k unless I want to invest with my OA entirely

means max loan with the longest tenure

 

[tankgunner]

even with just $50 increment every year
can hit FRS at 55yo
HDB loan cleared at 67yo
just my portion alone




but....



if my kid comes along.....
then work till die ,may go pick up cardboard....



inb4 replies from edmw elites who earn at least $20k/mth


hit the max of MA first!

the question is, how old you want to retire?

 

[iPod Jack]

In b4 salty comments on half million nowsdays too little

 

[1982-1994]

$3500 nia

max out medisave account first
monthly allocation and yearly interest of MA goes to SA
once FRS is met, monthly allocation and yearly interests of MA and SA flow to OA

but I need to top $3k yearly to MA in order to meet the capped limit every year
so it depends on the gahmen

 

[1982-1994]

the question is, how old you want to retire?

I don't want to do it early ,will be boring
as long as I am fit to work,why not
very Sian one leh after retirement,everyday ZBL

 

[buttbERry]

need to earn more money

 

[tankgunner]

I don't want to do it early ,will be boring
as long as I am fit to work,why not
very Sian one leh after retirement,everyday ZBL

the more you delay, the lesser you need mah.

 

[1982-1994]

In b4 salty comments on half million nowsdays too little

factored in 3% yearly inflation
$1800 for my wife and I should be fine
just make sure our health are covered by insurance decently, taking care of ourselves

anyway I lowballed my yearly basic increment and already factor out variable bonus yearly

 

[yobyella]

$3500 nia

max out medisave account first
monthly allocation and yearly interest of MA goes to SA
once FRS is met, monthly allocation and yearly interests of MA and SA flow to OA

Civil serpent?

 

[1982-1994]

Civil serpent?

nope

 

[yobyella]

nope

Job security? Health? May affect your plans.

 

[ramlee]

But we can’t buy much with half a meelian nowsaday

 

[1982-1994]

factored in 3% yearly inflation
$1800 for my wife and I should be fine
just make sure our health are covered by insurance decently, taking care of ourselves

anyway I lowballed my yearly basic increment and already factor out variable bonus yearly

plus excluding $8k of outside investment (from SA)