Here’s a thought that will make any Singaporean heart turn cold: working past 50 to pay off a housing mortgage. Could you really still be attending 10 am presentations, and typing mind-numbing reports in your mid-50’s, all because of that hefty housing mortgage? It’s enough to make some of us wonder if downgrading to a two-room might be a better option. Sure, we can have a loan tenure that stretches till our very retirement at 65…but imagine if our home – be it a flat or a condo – is fully paid long before then. The good news is, it may not just be a fantasy. Here’s an estimate of whether you might pay off that housing mortgage by age 50, based on your property and situation: For HDB flats:

• Dual-income couple aged 25, to pay off a 3-room flat
• Dual-income couple aged 25, to pay off a 4-room flat

...