Salary.sg Forums - View Single Post - Whats your net worth
View Single Post
  #1461 (permalink)  
Old 26-09-2013, 07:22 PM
Unregistered
Guest
 
Posts: n/a
Default

My father is going to be 65 next year. His only assets are his Bukit Timah semi D, which is worth $5m today, and cash of about $1m. I told him that he cannot retire with just $1m. So I advised him to sell his house and buy one of the new condos in the Hillview/ Petir Road area. He can get a nice 2 bedroom brand new unit for only $1m, this is very cheap compared to the condos in Bukit Timah, which is only a few km away. So after selling his house and buying a condo, he will have about $5m to invest. He can easily get 5% annual dividend, which gives him a passive income of $250k per year. He can relax, and travel the world with that kind of income. If he stays in his expensive house, he can't retire.

Reply With Quote