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  #1656 (permalink)  
Old 22-10-2013, 08:59 AM
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Originally Posted by Unregistered View Post
55, owns a 5 room HDB flat, paid up, now worth $900k. Cash, CPF and other assets $600k. Drives a cab. Plans to sell the flat when I reach 60 and buy a studio flat for the elderly, costing $70k. Will then buy annuity for me and wife each with $1.5m. We will retire at 60. My flat is the best investment in my life as I bought it 25 years ago at a very low price. Thanks to our government and country's growth, our property value go up and can make taxi driver like me to retire at 60. Our flat is the best retirement asset, I am very happy with my wise investment to buy a 5 room flat. I am very smart to buy the flat, my friends that time told me to just buy a 3 room flat.
No offense, but you sound very pro government. Question, would you still sing the same tune if your flat is unable to fetch $900k as you stipulated when you're 60? Bearing in mind all the effects of the property market corrections implemented by the government can only be seen and felt 5 - 10 years later. Will you still sing their praises, or curse them when your flat can only be sold for $500k or less?

It's one thing to plan so nicely and bang on your property for cash, but unless you can milk your cow now, it's all just speculation.
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