How much are you earning per annum?

Originally Posted by Unregistered

Those of you who are waiting to buy a new car, esp Cat B cars, better buy now. There is a huge crowd in car showrooms, everyone is buying a new car since COE price has plunged. Over the next few COE bidding exercises, COE price will surely shoot up. Cat B COE will go up to at least $50k over the next few bidding exercises. Hurry! Now is your last chance to get a new car for a cheap price.

Please go away car dealer.
We have seen your previous ******** since the high COE days of $70k+
With the impending tsunami of quota, the COE premium will plunge below $10k soon
Don't come here to spread fear.

Car dealers report surge in sales after COE prices drop

By Olivia Siong, Channel NewsAsia
07 Feb 2016

In particular, some have seen bookings for larger Category B cars triple as premiums in the category dipped to a six-year low.

SINGAPORE: Car dealers say they have seen a surge in sales since Certificate of Entitlement (COE) prices fell in the last bidding exercise on Wednesday (Feb 3). In particular, some have seen bookings for larger Category B cars triple as premiums in the category dipped to a six-year low.

Toyota agent Borneo Motors had planned to close for Chinese New Year on Saturday, but decided against it amid strong demand from customers. Many were also seen shopping for a good deal when Channel NewsAsia visited the Hyundai and Nissan showrooms.
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"I wanted to buy another five years of COE for my car which expires in March," said one Kim Yeo. "But when I heard about the drop, I decided to come down and see if I could get a new car."

Another, Mr Peter Scully said: "The car that we own is reaching its 10-year mark. When you have to buy a car and it's cheaper, it's a bigger motivation. It maybe forces us to want to make a decision faster because it's cheaper."

All three dealerships said they have seen an increase in sales. Hyundai agent Komoco Motors saw overall bookings go up by 50 per cent, while Nissan dealer Tan Chong Motors said overall sales have tripled. Both also recorded three times the number of bookings for larger Category B cars.

In the last exercise, premiums in Category B dipped by 22.9 per cent, falling by more than S$11,000 to S$38,600 - its lowest since July 2010.

That is even lower than Category A premiums for smaller cars, which fell by 9 per cent to S$46,700.

The last COE bidding exercise on Wednesday was the first for the February to April quarter which has more COEs on offer compared to the previous three months. But while COE premiums may be down across the board, industry experts have said that such prices are unsustainable and may see a rebound in subsequent exercises.

That is also why car prices have not fallen in tandem with COEs. Category B car prices have been adjusted downwards by between S$5,000 and $10,000 among dealers we checked with.

"I'm looking at an MPV because we have a growing family," said Ms Eileen Fu. "Now we can get a Cat B car, which has a bigger capacity and engine plus more power. It's a lot better than what we could afford half a year ago, which was a smaller car."

Another buyer, Sharong Ng said: "Cat B has dropped so much, so unless Cat A drops then I will consider Cat A. But for now it seems Cat B is a better deal."

However, there are some car-buyers who are not rushing in just yet.

"For me it's not necessary a Cat B, a small cc is good enough," said a Woo Keng Fie. "If you buy a two-litre car, the consumption is definitely higher and you have to pay more road tax."

Ms Elaine Samboo said she would "wait and see": "I'm keeping my fingers crossed that the COE prices will dip like before, when I only had to pay S$200 for COE. (If that happens,) I might just get my car."

The next COE bidding exercise will be in the third week of February.

Originally Posted by Unregistered

Please go away car dealer.
We have seen your previous ******** since the high COE days of $70k+
With the impending tsunami of quota, the COE premium will plunge below $10k soon
Don't come here to spread fear.

anyone here knows the average salary of manager designation in japanese bank?

Originally Posted by Unregistered

anyone here knows the average salary of manager designation in japanese bank?

Range from $4500-$5700

Don't worry.

For those retrenched ex-PMETs out there, such as ex-engineers and ex-bankers, do not be sad. Instead of worrying so much, you can just retire assuming you no longer have any dependents at age 55.

Good retirement plan in KL or Penang for a 55 years old retired couple.

Passive income
Rent out fully paid HDB flat S$2.5k pm or RM7.5k pm

KL or Penang cost of living
Rent a 2 bedroom condominium RM1.5k pm
Car expenses RM500 pm (assume buy used car in cash RM30k)
Food, groceries and utilities RM1.5k pm
Misc RM1k pm
Total spending RM4.5k pm
Savings RM3k pm

This retirement plan allows you to live in a condo and drive a car.

Your key retirement asset: HDB flat (we are very fortunate since we all get to buy cheap BTO HDB flats when we got married)

Car dealers and retrenched pmet talk, go related thread leh.

Annual income $110,000 dividends + other income sources $35,500 returns from other forms of savings $180,000 year 2016. Mid 40s single. Worked my money hard, as you can see from my annual pay, don't really work hard for my money

This year we will both be 48. Even though we are not a high earning couple, we still manage to have a happy, comfortable life. We are average earners, with a modest total household income of $175k pa.

Despite our modest income, we are however lucky property buyers. We upgraded from a flat to a 3 bedroom private condominium unit a few years ago. We used the proceeds from the sale of our flat to pay for a big down payment for the condo. We took a small mortgage. The timing was perfect. We got it cheap, very cheap. Today, our condo has appreciated in value and we have managed to clear our condo mortgage. It feels great to own your home outright!

We also own a 2 year old car, not a glamorous one but one which brings us from one place to another. We are left with a very small car loan which we will pay off this year. We don't believe in splurging on depreciating assets.

We enjoy a good family life. We have work life balance and spend a lot of time together as a family. We are blessed with two well brought up beautiful children. We love going to nice year end overseas holidays which we will spend quite a bit to reward ourselves for the year's hard work.

In short, we are blessed with a good life and on track towards a good retirement. On top of our paid up condominium unit (now worth $1.2m), our other assets are CPF and cash savings ($500k). We are now saving $50k pa in cash. We hope to have $1m in cash savings by the time we reach retirement age at 65.

Life is short. You never know when you will die.

You can die in your 50s or even 40s.

Make the best of your time on this temporary world. Do good. Make a difference to the world. Care for others, beyond yourself and family. There are billions of poor and needy people and children. Do you just sit back in your comfortable homes and watch? Do something! Not just donate your money to feel better but make real change. Volunteer your time in charities and do real work.

You can die any time. Your turn can be next. It could even be tomorrow.

So, those of you who have enough, stop being greedy and indulging yourself with worldly things. Your wealth won't follow you to your grave. Whatever wealth you left in this world will just be spent away by your beneficieries. They may even fight over it. The world is just an illusion. Don't be fooled by this world.

COE prices will rebound next week.

Now is a good time to buy a new car as new cars are now very affordable.

If you buy a new car at $80k, this means you're paying only $8k pa to own the car. If your household income is $200k pa, this is only 4% of your annual income. Very affordable.

Don't wait any longer. Buy now.