Is this a good pre-retirement plan if you are in your mid 30s and DINK?

[nyvrem]

I was thinking how can an average sinkie couple plan for retirement by their 50s.

Let's assume you are 35, married and spouse working.

I always thought getting this type of jumbo is the best deal

https://www.propertyguru.com.sg/listing/hdb-for-sale-1-marsiling-drive-24766293

Pros - got 2 doors, essentially it's 2 units into 1
Cons - Built 1973, means only 48 years left

The hard part would be putting the downpayment. I believe if 2 x income, can cover the loan.

Let's say combine income 10k/mth, means 2k can go towards paying the home. DP 200k mix of CPF and cash. By 35 a couple should be able to raise that amount of money in a mixture of their CPF and cash ba.
That means 550k loan @ 2.8% = 2.5k/mth repayment over 25 years.
2k can be used from CPF so every month come out $500 cash.
Rent out half the unit for 2.5k/mth as a "whole unit" (under MOP rules its still considered as renting out a room)
every month your income will be 8k cash from income + 2.5k cash from rental = 10.5k, after paying $500 for loan = 10k/mth
every month expenses 5k (dont tell me not enough?!)
the remaining 5k save. eg 1 year can save 60k. put 60k yearly into FD @ 2.5% for 10 years, by the time u hit 45, u should have 600k inside ur FD
10 years would mean you would have cleared about 300k from your loan. so maybe got another 300k left to clear.

u could use your FD money to clear the remaining loan.
that would leave you with a fully paid jumbo by 45, and about 300k in savings.
the jumbo would only have 38 years lease left, so using the 300k @ 45 years old, buy a 600k 1 bedroom condo (take loan of 300k) to stay in.
rent out the jumbo (both units) for 5k+/mth - 60k rental / year

within 5 years (thats when u hit 50), pay off ur condo unit's 300k loan. By then ur HDB got 33 years lease left. Just continue renting out for 5k+/mth until lease expire, stay in ur condo, and retire by 50. Use the 5k/mth for expenses + savings. Maybe put aside 2.5k for monthly expenses, then 2.5k for savings in FD for next 15 years. 30k/year for next 15 years would get you about 300k by the time u hit 65. then u get cpf life payouts also.

this would leave you @ 65 with

5k/mth rental
300k savings
cpf life payouts
fully paid hdb jumbo + condo

good plan mah?

    

[default]

wait i got time then read

but marsiling hor........... and left around 48 or 50 yrs.

to me is quite kum lan

i do see got some flats at serangoon/hougang/potong pasir still kind of ok or worth it.

tbh no need to pick HDB like it's some deal since all the price everywhr controlled and same. no such thing like value dollar u see NTUC sell snickers bar $2.20, value dollar only $1

got no such deal even if got people die in it

unless exceptional case like got super hauntings and multi murders inside, else hard to find any such bargains

[Tony.Manero]

Yes. Lao Liao can partition rent out half. But if suddenly want kids will be problematic

[nyvrem]

Yes. Lao Liao can partition rent out half. But if suddenly want kids will be problematic

have kids, 10k/mth income will struggle because if both sides parents old liao need help look after, money sink everywhere.

if 10k/mth DINK still ky cause 5k expenses/mth can still squeeze in COE car to ferry elderly parents around to hospital/doctors etc.