Quote:
Originally Posted by Bee
Comparing myself with all of you out there, I am so embarass to declare my net worth.
But anyway, here it is;
31 year old female, married
5-rm HDB valued at S$440,000 (sharing with hubby, fully paid)
1.5L Car (fully paid)
CPF - $0 (used up to clear HDB mortgage)
Savings (cash and stocks) - S$50,000
No outstanding loans or debts
I used to have much more savings but my savings were almost wiped out to pay for my wedding, honeymoon, car, house renovation, furnitures etc etc about 1 year ago. I also have to give parents.
I am currently saving up from scratch at a rate of S$2800 per month consistently in the form of cash, insurance and unit trust/shares. I am not sure when I can achieve what you guys out there have achieved. I am feeling so sad now.
Based on my current networth (if any) and savings, please advise me if I can ever dream of a retirement at all. Thanks.
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You should not have paid up your
HDB flat. Mortgage debt is one of the best debts out there, especially in Singapore where
HDB/
CPF charges you only 2.6% (ok, banks charge lower now, but you can't be sure a few years later). The HPIS insurance is also an extremely low cost insurance - in the unfortunate event of a death, the surviving spouse gets the flat for "free", i.e. the remaining debt is written off.
However, you can always upgrade to a bigger flat or condo, and take on a mortgage.