Nearing 55. So the Retirement topic is always close to heart.
I have kids. So the FIRE option is not available. Have to work till 65. I hear that ageing diseases like Alzheimer's, Parkinson and Dementia are on the rise. They say the best way to counter them is to stay active - or work. So, much as I dislike working till 65, I guess I just have to do it.
Post 65, my plans are simple:
CPF ERS wife: $2500
CPF ERS me: $2500
Rent: $3000
Total: $8k for 2 pax
With soaring inflation, I am not sure if this is enough?
Wife wants to work past 70. She loves her job. I can't say the same for mine.
The car has to go. COE is now $140k. The thought of it saddens me. Just have to learn to take public transport. Haiz.
Medical wise, both wife and me have H&S insurance. If warded, the insurance kicks in to cover the bill. Else, just hang out at polyclinics and spam our CHAS card.
Did consider retiring in Perth. I love that place. My rental property is there. But as I aged, I realize it is a piped dream. My family is here. My kids are rooted here. There is no way I can retire there. At best, I hope to shuttle between Perth, Singapore and Penang. Move every 3 months. If I can include Switzerland in the rotation, it will be a sweet bonus.
Job wise, I am trying downgrade to one that has as little stress as possible now. To ease into 65 y.o. To me, I am practical. One has to choose wisely. There is no point chionging all the way to 65 only to die of stress related illnesses before reaching it. I am sure we all have lost someone that went too early.
