Are you planning for RETIREMENT?
Do you have any HOUSING PLANS?
Read on to find out more…
Based on the above scenario. If you are before 55 years old this year. You can downgrade smoothly and fully paid the next house. However, if you are above 55 years old. You need to keep $85,500 as your Basic Retirement Sum. You will face difficulties in downgrading if you do not have sufficient CPF for retirement. Hence, if you do not have sufficient CPF in your account. You should plan ahead before you turn 55 years old.
- Mr Tan is 54 years old. He is required to keep $166,000 in his retirement account when he reach 55 years old.
- He has plan to downgrade from his existing Hougang executive flat.
- After working out his sums. He can safely downgrade to a smaller HDB flat before he reach 55 years old.
- If he plan to sell his flat after he turned 55 years old. Part of his CPF would be required to fulfill the Full Retirement Sum. He would have difficulty to downgrade then.
- Mr Ismail is 57 years old this year. He stay in a 5 room HDB flat in Tampines with their children.
- Their children are getting married and are moving to their BTO flats nearby.
- He plans to downgrade to a 3-room HDB flat. His outstanding loan is $60,000. He is eligible for the Silver Housing Grant.
- He can fully paid his next flat and have $80,000 cash for retirement after setting aside his Full Retirement Sum.
- Mdm Tan is 56 years old this year. She stay in a condo with her spouse.
- She plan to sell her condo and downgrade to a smaller HDB flat to be closer with her children.
- She is eligible to receive a $20,000 proximity housing grant for staying close to her children.
- She can fully paid her HDB flat with CPF and has surplus cash for retirement.
The above are real case studies that I personally advise them based on their respective financial status and housing needs. All cases are different. Speak to me to explore your housing needs. Let me customize a workable retirement housing plan for you.
QUESTIONS YOU NEED TO ASK
1. Can I sell my current property and FULLY PAID the next property?
2. What are my various HOUSING OPTIONS?
3. Should I sell BEFORE or AFTER I turn 55 years old?
4. Will I have enough CASH for my retirement?
Give me a call for a NON-OBLIGATION FREE RETIREMENT CONSULTATION now!
Call / SMS /WA (65) 9297-3150