I was a high flying executive in the financial sector while my wife is a civil servant. I used to earn $300k pa in total compensation, including bonuses. My wife earns $100k pm. We were the dream couple, high income, living in a penthouse house condo and drives a 5 series. Life was great till I got the pink slip. I got a shock of my life. I quickly reviewed our financial situation and took a few steps. We sold our penthouse condo and got a net receipt of $1.7m. I used $1m to buy a 2 bedroom condo in Jurong and used the $700k balance to buy a rental condo, fully paid up. The condo gave me $35k of net rental per year. Sold our 5 series and bought a small Korean. Our annual income now is about $135k while we reduced our expenses to $100k.