Thanks for sharing CW. I have been reading your updates in your journey in retirement as such sharing by retirees are hard to come by. There are a number of such blogs by retirees in the US but are rare here locally. At 60, retirement looms near for me and I have been looking up to you as a role model.
Like you, I have modelled my retirement sustenance income based mainly on dividend income from SGX and savings from CPF. We have an investment property that provides some rental income.
This Covid has shown how wobbly the dividends and rental income streams can be. Only after constant infusion of cash into our stocks holding can we maintain our dividend income above $60,000. Our target is for $5,000 pm of dividend income. So realistically we can only count on our CPF savings to be there for us throughout our retirement journey.
Based on this year's (2021) dividend and rental income, our updated passive income projections over our (for couple) retirement lifespan as follows:
2022 (age 61) Dividend : $67,000 (received $67,836 in 2021) Rental : $36,600 (received $35,800 in 2021) Interests from OA&SA : $58,000 (based on 11 months interest)
2023 to 2024 (age 62 to 64) Dividend : $67,000 pa Rental : $36,600 pa Interests from OA&SA : $58,000 (based on 11 months interest) pa SRS drawdown : $48,500 pa
2026 to 2030 (age 65 to 69) Dividend : $67,000 pa Rental : $36,600 pa Interests from OA&SA : $58,000 (based on 11 months interest) pa SRS drawdown : $48,500 pa CPF Life payout : $50,000 pa
2031 onwards (70 yo onwards) 2023 to 2026 (age 62 to 65) Dividend : $67,000 pa Rental : $36,600 pa Interests from OA&SA : $58,000 (based on 11 months interest) pa CPF Life payout : $50,000 pa
The CPF savings & CPF Life will form our income floor and we will have to depend on them. should the dividend and rental income source falter.
Obviously working longer would help bolster our investment and thus the passive income flows.
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ReplyDeleteThanks for sharing CW. I have been reading your updates in your journey in retirement as such sharing by retirees are hard to come by. There are a number of such blogs by retirees in the US but are rare here locally. At 60, retirement looms near for me and I have been looking up to you as a role model.
ReplyDeleteLike you, I have modelled my retirement sustenance income based mainly on dividend income from SGX and savings from CPF. We have an investment property that provides some rental income.
This Covid has shown how wobbly the dividends and rental income streams can be. Only after constant infusion of cash into our stocks holding can we maintain our dividend income above $60,000. Our target is for $5,000 pm of dividend income. So realistically we can only count on our CPF savings to be there for us throughout our retirement journey.
Based on this year's (2021) dividend and rental income, our updated passive income projections over our (for couple) retirement lifespan as follows:
2022 (age 61)
Dividend : $67,000 (received $67,836 in 2021)
Rental : $36,600 (received $35,800 in 2021)
Interests from OA&SA : $58,000 (based on 11 months interest)
2023 to 2024 (age 62 to 64)
Dividend : $67,000 pa
Rental : $36,600 pa
Interests from OA&SA : $58,000 (based on 11 months interest) pa
SRS drawdown : $48,500 pa
2026 to 2030 (age 65 to 69)
Dividend : $67,000 pa
Rental : $36,600 pa
Interests from OA&SA : $58,000 (based on 11 months interest) pa
SRS drawdown : $48,500 pa
CPF Life payout : $50,000 pa
2031 onwards (70 yo onwards)
2023 to 2026 (age 62 to 65)
Dividend : $67,000 pa
Rental : $36,600 pa
Interests from OA&SA : $58,000 (based on 11 months interest) pa
CPF Life payout : $50,000 pa
The CPF savings & CPF Life will form our income floor and we will have to depend on them. should the dividend and rental income source falter.
Obviously working longer would help bolster our investment and thus the passive income flows.
Sharing of such data points may be good reference for retirement planning for younger generation in Singapore
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