Quote:
Originally Posted by Unregistered
I only say my house value is worth around $400k (based on house prices in the area) now, but i nv say i paid $400k. I only paid $230k for the flat when property prices are still low which i did mentioned earlier. So its not surprising to pay in full? Btw, not just salary, your bonus will also go into your cpf contribution.
So far we are glad we dont need any help from anybody cos we will just save whatever we have. Wedding & reno was just $70k, we definitely can absorb it in full. We are the type that dun really care about appearance, clothes torn already also can wear for years. No car, no maid to show off. live within your means & nothing is impossible. |
Yep.. And like i said, there is something missing in your post. Ok. Lets do the maths again .
230k for flat.Not sure how much you paid with cash/
cpf. but assume 100%
CPF. That means 115k per person.
Using max contribution to
CPF now is around 34k based on your age and based 5000*17 mths * 20% * 2 (ur share and employer) so that brings to around payment period of 4 yrs if both of u are actively reducing your housing loan... i know there is OA/MA/SA spilt but lazy to do all the maths
Possible ? Yes...cos u have been working around max 8 ~ 10 ys.
Knowing you spent 70k on reno, and figuring around 8-10k delivery expense per kid... plus your +300k savings for 10 yrs.... that works to around 40k non
CPF related savings per year since u worked. Of course these savings may not all come from your salary but due capital appreciation of stocks , etc..
Based on this data , I should think u r a good saver/investor since you are achieving a saving rate of above 30% of your current net cash salary.
If u continue this way, you should hit millionaire status or be close to it before 40 as a couple.
Good job !