Whats your net worth

CCR Condo Property worth 2.5 Mill (1.25Mil Loan)
Overseas Property 250k ( fully paid )
Cars ( fully paid )

Cash ( Sgd & foreign currencies ) 700k Sgd
No other debts / CPF only around 30k Sgd

Late 30s
Married with kids.

What should I do with 700k Sgd? Clear half of my home loan?
General thinking is if you can get better returns from investing , don t pay off your loan.

But investing has it risks.....specially when my savings are in foreign currencies.
Wondering if to buy 2nd property or to pay off part of my loan...

Combined salary around 170k Sgd.

I guess i know the reply , but just asking to have other point of views.

Thanks

Better to pay off your home loan. In this way, when your CCR condo collapsed, you are not in negative equity. With the massive oversupply coming, property prices will collapse, esp the CCR properties.

Originally Posted by Unregistered

CCR Condo Property worth 2.5 Mill (1.25Mil Loan)
Overseas Property 250k ( fully paid )
Cars ( fully paid )

Cash ( Sgd & foreign currencies ) 700k Sgd
No other debts / CPF only around 30k Sgd

Late 30s
Married with kids.

What should I do with 700k Sgd? Clear half of my home loan?
General thinking is if you can get better returns from investing , don t pay off your loan.

But investing has it risks.....specially when my savings are in foreign currencies.
Wondering if to buy 2nd property or to pay off part of my loan...

Combined salary around 170k Sgd.

I guess i know the reply , but just asking to have other point of views.

Thanks

Hi bro,

Firstly, pertaining to your current portfolio, you've kids which I ain't sure if they are fully insured/secured. Pardon me but may I know if you can weather through the storms without them having to go hungry?

Secondly, curious if you've other investments; stocks/bonds/fixed-Ds etc. to introduce passive income for extras?

A humble opinion is not to cash in to 2nd property as Mr. Lawrence Wong said cooling measures have yet to be lifted.

As of now, the safest I assume and in my opinion, is to buy US T-bills and wait for coupon payments. The US Government-backed bond is highly secured but DYDD okay?

I suggest holding cash as well instead of doing any risky moves due to global uncertainty - hire an independent financial adviser if need be.

Originally Posted by Unregistered

CCR Condo Property worth 2.5 Mill (1.25Mil Loan)
Overseas Property 250k ( fully paid )
Cars ( fully paid )

Cash ( Sgd & foreign currencies ) 700k Sgd
No other debts / CPF only around 30k Sgd

Late 30s
Married with kids.

What should I do with 700k Sgd? Clear half of my home loan?
General thinking is if you can get better returns from investing , don t pay off your loan.

But investing has it risks.....specially when my savings are in foreign currencies.
Wondering if to buy 2nd property or to pay off part of my loan...

Combined salary around 170k Sgd.

I guess i know the reply , but just asking to have other point of views.

Thanks

Originally Posted by Unregistered

CCR Condo Property worth 2.5 Mill (1.25Mil Loan)
Overseas Property 250k ( fully paid )
Cars ( fully paid )

Cash ( Sgd & foreign currencies ) 700k Sgd
No other debts / CPF only around 30k Sgd

Late 30s
Married with kids.

What should I do with 700k Sgd? Clear half of my home loan?
General thinking is if you can get better returns from investing , don t pay off your loan.

But investing has it risks.....specially when my savings are in foreign currencies.
Wondering if to buy 2nd property or to pay off part of my loan...

Combined salary around 170k Sgd.

I guess i know the reply , but just asking to have other point of views.

Thanks

If you are going for risk free, can consider gg for std chartered fixed deposit at 1.95% pa for two years.

37yr_sw_engg
cash: 253K
cpf: 149K
Investments: 35K
Sold HDB 2 yr ago for profit. Now renting home.

Total: 437K

Modest aiming to make this 2M+ in coming 6 years!

Originally Posted by Unregistered

37yr_sw_engg
cash: 253K
cpf: 149K
Investments: 35K
Sold HDB 2 yr ago for profit. Now renting home.

Total: 437K

Modest aiming to make this 2M+ in coming 6 years!

Good job. Any plans to get a replacement home? Rental will eat up your money, no?

From my previous post, my belief is that I am amongst my peers quite decent. I knew of another business mate really flaunting hard just to attract connections, don't know whether it's worth the splurge in cash to entice potential capable businessmen.

What I can see is that he has the following below:
- GTR-35
- Hublot watch
- owned 2 companies
- aggressive holidays in Europe
- indulge in luxury restaurants

To me, it really seems like he has almost all but close to none - paradoxical world of truth. Sadly speaking, I'm an entrepreneur but didn't even have the ability to splurge like him? #YOLO to explain his situation..

What & Where am I? How can I source for betterment of future?

Came across this forum and like to share some inputs; self-employed

Variable income at 290K-400K annually
Property (ies) 3 condos rented out and 1 residence condo
Car(s) 1 Maserati Quattroporte and 1 E250 Cabriolet
Finance(s) isn't really accurate unless liquidate all properties at book value?
Cpf might have problem to withdraw unless migrate?
Fix-Ds stand at 1M, Savings at 4xxK and T-bills etc. at 500K

This seems to be the norm these days but filled with contentment.

For those who are curious on lifestyle, here is my sharing:

Vacational retreats twice yearly - any country
Dining at casual restaurants almost daily - seldom fine dining
Shopping at malls - not intensely at Paragon or boutiques
Entertainment at bars or ktv lounges - once a month, at most twice
Ciggarette intake pretty light - 2-3 days a pack

Nothing much, just a random guy on the street that you might bump into and he'll apologize in fear of offending elites who yielded million-dollar remuneration packages

Uncle M.K

To the post by Real Person,

Yes, your friend is considerably decent only and rich businessmen won't blink an eye nor will any executives ever consider his proposal. The blatant deception gave away his pole position in manipulating business just by 'facade' factor.

What uncle here can say is that you are in abundance and need not compete with 'rats'. Go ahead and establish your business with blinkers on.

Crudely speaking, what is Gtr? It's merely an ordinary 'sport' car but you are riding on Merc Sbs bus or Volve for older series, no? Hublot watch where anyone can buy with a 2-month salary? Own 2 companies and you can set up another dormant/shell at $1+$315 registration fees? Aggressive holidays and lavish lifestyles with a big fat $0.00 in bank account?

Young man, you are very fortunate to learn people of such statue and by the grace of this virtue, you are bless to divert from such tragic extravagance.

Uncle M.K wish you the best and pardon for the poor language as I didn't undergo formal education

Hi Uncle MK,

Thanks for replying. As opposed to the current condo flair, what do you think citizens should do to grow their wealth? I'm looking into several means to increase income.

Originally Posted by Real Person

Hi Uncle MK,

Thanks for replying. As opposed to the current condo flair, what do you think citizens should do to grow their wealth? I'm looking into several means to increase income.

I'm not a licensed financial adviser therefore only can provide suggestions.

Uncle grew up in a hostile working environment where competition wipes out everything. From the years, uncle learnt that investing in equities like stocks, bonds, index fund or UTs can offer certain growth to one's wealth.

The difficult part is to 'time' the investments hence a safe ground is to perform dollar-cost averaging but in a customize manner to fit your needs. Uncle did not understand earlier and plonk in massive chunks but fortunately, succeeded in these few years.

Hope it helps