Quote:
Originally Posted by Unregistered
Lower middle income family, mid-50s, annual family income $160k pa.
Staying in an old condo which we bought for $400k in 2003, now worth $1m, no more mortgage.
When we retire at 65, we plan to sell the condo and buy a 2 room BTO flat, which cost only $10,000 (after grants), as reported in the news. By then, we are not working and has no income, so we should qualify for grants to buy the flat. We will then retire with the $1m cash after selling the condo.
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STOP SAYING LOWER MIDDLE INCOME.
YOU HAVE $160k PA.
THAT IS NOW LOWER MIDDLE. IT IS DEFINITELY HIGHER THAN A LOWER.
JUST PUT MIDDLE INCOME GROUP.
HOW MANY STRATA DOES SINGAPORE HAS?
LOWER INCOME < 100k
MIDDLE INCOME < 200k
UPPER INCOME > 200k