Quote:
Originally Posted by Unregistered
39 & 38, $790k pa combined. Stays in a $800k hdb 5-rm, paid up. Driving a 6-yr old Jap car paid up. 2 invt properties worth $3m, equity around $650k.
Cash, CPF combined, $2.5m. Total net worth, ard $4.8m.
No specific retirement plan cos still young, just focusing on saving aggressively.
Savings around $28k/mthly |
Given the uncertain nature of your job and industry (financial sector), it is best you prepare for the worst. Have you ever wondered what if both of you got retrenched at the same time? Your $790k pa pay will be meaningless as it will gone in an instant. Worse still, your investment properties can crash by more than 50% due to the oversupply.
So, you should save more and deleverage and sell one of your investment properties. You should also consider selling your flat and downgrade to a 3 room flat. You should also sell your car and take public transport. Better be safe than sorry.