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16-05-2016, 08:34 PM
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Quote:
Originally Posted by Unregistered
Thanks for sharing. I feel blessed that I'm able to enjoy living in a condo. We enjoy the condo facilities. Our retirement plan is to sell our current big condo and buy a one bedroom condo. We like the idea of staying in a smaller place as it will be easier to maintain. As you have suggested, we could buy annuities from the extra cash generated after selling the big condo and buying the smaller condo. I will also get funds from our cpf life. Retiring overseas is an option but not our priority, at least not for now.
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I think you have a good retirement plan. Moving from a bigger condo to a smaller condo makes a lot of sense for a retired couple. This means you no longer need to employ a helper to clean your big condo. A one bedroom condo doesn't take long to clean. For a retired couple, the housework is not much at all. Any housework can be a good exercise anyway. Please make sure you buy a condo next to an MRT station. This will make your travelling easier. You also don't need a car. If you really need a car, you can always take the taxi or use Uber or Grab. Living in a condo during retirement is a good idea as you have the time to enjoy the facilities and keeping fit.
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23-05-2016, 12:15 AM
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I feel so ashamed that this forum people are all like superstars.
I am 32, SPR net worth 0. Just got married to a foreign spouse who has issues finding work. I almost went bankrupt due to speculation of stocks. Now struggling to stay afloat once again. Medicore earner.
Wondering how to build passive income fast. Please advise. :/
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23-05-2016, 09:43 AM
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Super Member
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Join Date: Aug 2010
Posts: 335
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Well, looks like u havent learn your lesson from stocks since u still looking to build a passive income FAST .
Quote:
Originally Posted by Unregistered
I feel so ashamed that this forum people are all like superstars.
I am 32, SPR net worth 0. Just got married to a foreign spouse who has issues finding work. I almost went bankrupt due to speculation of stocks. Now struggling to stay afloat once again. Medicore earner.
Wondering how to build passive income fast. Please advise. :/
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23-05-2016, 10:49 AM
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While I do know that passive takes time to build, I am just asking for advice on how to do it and build.
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23-05-2016, 02:57 PM
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Super Member
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Join Date: Aug 2010
Posts: 335
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Quote:
Originally Posted by Unregistered
While I do know that passive takes time to build, I am just asking for advice on how to do it and build.
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Have you considered reading this thread for ideas ?
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23-05-2016, 04:03 PM
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It takes money/assets to make money.
My investment portfolio that generates passive income for me can be grouped into these 3 classes - property, stocks and bonds/FDs. Looking at my portfolio, the only asset class that I really do leverage on, is property. Even then, you will need to have a base amount of money.
For eg, to buy a property, you will need to be able to pay up at least 30% and meet the TDSR criterion. And you have to be able to handle the loan during periods when you cannot find tenants!
If you don't any money now, the very first thing to do is to build up some cash position. Last resort is to rent out a room or two of your home/flat.
No short cut for passive income. It took me 31 years to build up a portfolio that is currently generating a passive income of $120k+ pa. The journey requires sacrifices and delayed gratification.
Now that I am near retirement, I have loaded up on more stable/safer but lower returns (3%) investment.
Quote:
Originally Posted by Unregistered
I feel so ashamed that this forum people are all like superstars.
I am 32, SPR net worth 0. Just got married to a foreign spouse who has issues finding work. I almost went bankrupt due to speculation of stocks. Now struggling to stay afloat once again. Medicore earner.
Wondering how to build passive income fast. Please advise. :/
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23-05-2016, 06:22 PM
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Been reading this after being determined to come up and breathe some fresh air again.
Came out to work, settling dad's hospital bills and finance co debts. You can't imagine people coming to your house creating a scene. Finally done.
2 years ago, I leveraged and contra on stocks. I built from 0 to 150,000k over 4 months. Greed took over and I ended up losing 150k within the next few months due to crude/S&P downturn and limited holding power.
Now I am trying to build myself once again. Currently still servicing some leftover and I guess I'll be pushing myself to start with the first 20k for this year, I'll start putting on high dividend yield stocks. There after, start building from there.
What you guys think?
AC
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24-05-2016, 07:12 AM
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Quote:
Originally Posted by Unregistered
Been reading this after being determined to come up and breathe some fresh air again.
Came out to work, settling dad's hospital bills and finance co debts. You can't imagine people coming to your house creating a scene. Finally done.
2 years ago, I leveraged and contra on stocks. I built from 0 to 150,000k over 4 months. Greed took over and I ended up losing 150k within the next few months due to crude/S&P downturn and limited holding power.
Now I am trying to build myself once again. Currently still servicing some leftover and I guess I'll be pushing myself to start with the first 20k for this year, I'll start putting on high dividend yield stocks. There after, start building from there.
What you guys think?
AC
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Try to avoid stocks, seen many pple losing over 50K paon stocks and yet being very happy on the dividends. Try bonds like hyflux 6%.
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24-05-2016, 04:10 PM
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Quote:
Originally Posted by Unregistered
Try to avoid stocks, seen many pple losing over 50K paon stocks and yet being very happy on the dividends. Try bonds like hyflux 6%.
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Thanks for the advise. Any others worth considering? Thanks in advance.
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24-05-2016, 04:40 PM
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Super Member
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Join Date: Aug 2010
Posts: 335
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Quote:
Originally Posted by Unregistered
Thanks for the advise. Any others worth considering? Thanks in advance.
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Suggest you consider this post before doing bonds.
Hyflux 6% Perpetual Security
I am not the writer but i think he has a good basic bond evaluation technique..
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