Whats your net worth

Originally Posted by Unregistered

So you must be the party banger who hangs around looking for free drinks. haha. sorry, but i don't usually have the time for young big talking people like you. The rich mix with the rich. Doubt if you are really trying to find wealthy people to participate in a survey from an unqualified pop psychology wannabe. You are really just trying to insult rich people with thinly disguised questions. I only enjoy demeaning and insulting frauds like you.

My problem with you is that you are a young person who hasn't made it yet, but wants to tell the people who have made it how they should behave. Why don't you try to be successful first before you tell people how to behave. Don't be disappointed when your carefully "nurtured" kids end up either delinquents or like the arrogant rich people you seem to hate. You are clearly too young a parent to know it's the luck of the draw. Hopefully at least, they don't end up with your brand of judgmental conduct.

From your statements and your thoughts, I am quite certain that you are not rich at all, may be at the level of average or below.. The words and the thinking are exactly like those who likes to blame others for his own failure and miserable life.. Rich ppl don't speak like you.. That's why, we don't see any "Class" in you.. And you are definitely those wannabe who like to hang out with the rich.. Yes, rich mix with rich and so do the poors.. but there is always a small group of poors who like to hang out with rich hoping to raise their "class" and also some benefits from the rich.. You are one of them.. sorry to say this.. But pls admit.. is perfectly fine to be poor, and be a wannabe..

Originally Posted by Unregistered

Stop pampering the youngsters! You are making them weak and soft. Let them work hard, get their BTO and then upgrade to a condo by themselves. You should donate your wealth to the poor, cripppled and needy. They need your money more than your spoilt kids.

Is easy to say donate your money to the poor, don't keep it for your kids..
So do you have any kids? Mind to share how much you donated to the poor so far and how much are you keeping to your kids.. Ppl always convince others to donate their wealth, but they keep all their wealth to themselves or kids.. You are not gates or buffet (they start it with themselves and convince others by doing it), If you cant do that, stop being a wannabe..

Originally Posted by Unregistered

From your statements and your thoughts, I am quite certain that you are not rich at all, may be at the level of average or below.. The words and the thinking are exactly like those who likes to blame others for his own failure and miserable life.. Rich ppl don't speak like you.. That's why, we don't see any "Class" in you.. And you are definitely those wannabe who like to hang out with the rich.. Yes, rich mix with rich and so do the poors.. but there is always a small group of poors who like to hang out with rich hoping to raise their "class" and also some benefits from the rich.. You are one of them.. sorry to say this.. But pls admit.. is perfectly fine to be poor, and be a wannabe..

From your statements and your thoughts I'm quite certain that you are an average joe who will never leave the lower and middle classes. Please enjoy your inadequacies.

Hi Whizzard et al. Thanks for the education for the rest of us. Any suggestions for a couple in 40s with S$3M income a year, pre-tax? We are not financial instruments-savvy and hold only properties (2 residential and 2 commercial). We are still working and the cash is just piling up in various banks. Very negligible equities etc. Any uncomplicated pointers will be much appreciated. Zero debt. 2 paid up Japanese cars.

Originally Posted by GR45

Hi Whizzard et al. Thanks for the education for the rest of us. Any suggestions for a couple in 40s with S$3M income a year, pre-tax? We are not financial instruments-savvy and hold only properties (2 residential and 2 commercial). We are still working and the cash is just piling up in various banks. Very negligible equities etc. Any uncomplicated pointers will be much appreciated. Zero debt. 2 paid up Japanese cars.

Mind to share what industry you are in?

[recca77]

Originally Posted by Unregistered

Can't sleep, talking about our retirement. We are in our late 50s and will retire in a few years time. Our current combined earnings is only $150k pa and our net worth is only $2.4m. We plan to buy a one bedder in the Jurong area around the lake (for jogging) and invest the rest. I may use my CPF and cash to buy. The balance of about $1.5m will be invested to generate about $75k pa of passive income. This is more than enough for an old couple who doesn't eat much.

Hardwork indeed, Interesting... life in the traffic city..


Find your sweet home

My wife and I retired last year when I was 55 and she was 60. We sold our landed property for $2.5m. We then bought a one bedder condo for $900k. We invested $1.6m and we got $80k in dividends per year. We also have about $200k in cash. Since we no longer own a car, our annual expense is only $40k per year. My wife cooks while I help out in the house work. We enjoy relaxing by the pool. All this is possible due to my investment foresight to buy our landed 20 years ago. I forecasted that our landed price would go up a lot. My prediction came true. We are able to retire in a condo because of my investment wisdom.

Originally Posted by Unregistered

My wife and I retired last year when I was 55 and she was 60. We sold our landed property for $2.5m. We then bought a one bedder condo for $900k. We invested $1.6m and we got $80k in dividends per year. We also have about $200k in cash. Since we no longer own a car, our annual expense is only $40k per year. My wife cooks while I help out in the house work. We enjoy relaxing by the pool. All this is possible due to my investment foresight to buy our landed 20 years ago. I forecasted that our landed price would go up a lot. My prediction came true. We are able to retire in a condo because of my investment wisdom.

Actually you don't need to sell your home. I live in my $8m home which I bought for $2+m and which is paid off when I retired. I have borrowed about $4m from a bank to invest in REITS collateralized by the home at about 1% and get about $250K a year in dividends. I continue to live in the home, which continues to appreciate. The bank will lend me more, but I think $250K is enough to live on and why be greedy. I doubt housing prices with halve and the banker tells me that the house will have to fall significantly below $4m before they come after me to top up. My only issue currently is that the garden and the house require maintenance so I can't go on holiday for too long.

You're playing with fire. You assume prices remain or rise. You assume your REITs will the same or rise and give you regular dividends. If the market crash, you will lose your home and will be begging on the streets. Safer for you to sell, cash out and downgrade. You have not experienced the worst. Banks just love idiots.

Originally Posted by Unregistered

Actually you don't need to sell your home. I live in my $8m home which I bought for $2+m and which is paid off when I retired. I have borrowed about $4m from a bank to invest in REITS collateralized by the home at about 1% and get about $250K a year in dividends. I continue to live in the home, which continues to appreciate. The bank will lend me more, but I think $250K is enough to live on and why be greedy. I doubt housing prices with halve and the banker tells me that the house will have to fall significantly below $4m before they come after me to top up. My only issue currently is that the garden and the house require maintenance so I can't go on holiday for too long.

Originally Posted by Unregistered

You're playing with fire. You assume prices remain or rise. You assume your REITs will the same or rise and give you regular dividends. If the market crash, you will lose your home and will be begging on the streets. Safer for you to sell, cash out and downgrade. You have not experienced the worst. Banks just love idiots.

I'm not assuming anything but making a judgement. I've borrowed 50% of the value of my home. I judge that if the property market crashes by 50%, which looks unlikely, the bank won't make a margin call because it's still a $4m home and they are fully collateralized. REITS can rise or fall. Probably over the longer term because rentals increase due to inflation, REITS will rise in value. I feel perfectly safe even if the worst happens. Perhaps you can say something useful by coming up with the scenario where I am begging on the streets.