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Old 12-04-2014, 10:27 PM
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well done. you should continue to stay in your hdb flat to be safe. you both can be retrenched any time as you get older and are more expensive. i was let go too. but i was prepared, now i am a retired millionaire, staying in my humble condo. my passive income and wealth is enough for me and my children and maybe can last till my grandchildren. i'm 45.


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Originally Posted by Unregistered View Post
Ok, what do you need to be convinced. I can provide as much info as possible as long as it doesn't compromise my anonymity.

Age: 39, 37
Work: both in financial industry, in a support function (so not your banker, salesperson, trader etc)
Total income: $509K, $230K (I didn't say I earned $740K, I said "We")
Residence: 5rm HDB, our first property and lived for 14 years.
Car: 6-yr MPV (red-plated as we work downtown and don't drive to work. Use the car only on weekends to ferry kids).
Income tax for FY2014: $44.5K, $1.7K cos of working mothers' tax relief, SRS, CPF top-up etc.
Savings: $1.7m (adding around $300K per year not counting investment returns, as I mentioned we save 65% of MONTHLY income plus whatever is left over from spending the bonus)
Networth: $4.3m at end 2013.

Agree we are in a good position but as I said, I know of many people of my age who are much better financially. So I learn not to compare, but am really sincere in learning from the forumers here to increase my wealth and financial knowledge. tks.


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