You have done pretty well for yourself. You own and LIVE in a condo. This puts you among the TOP 15% of Singaporeans. 85% of Singaporeans live in public housing. Your timing to buy in 2006 is perfect, you should consider becoming a hot shot fund manager, not many can time the market as well as you. Since your condo is now doubled in value in just 8 years, this makes your annualized return very high. YOU ARE THE MAN.
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Originally Posted by Unregistered
45, $5600 pm.
43, $5000 pm.
2 kids in secondary school.
small korean car, 5 years old.
home is an old condo bought in 2006 for $500k. now worth $1m. loan left $200k.
cpf and cash combined, $400k.
total net worth, $1.2m.
we will work until we retire at 65. will collect CPF Life, $1200 pm per person.
will sell condo and downgrade to hdb studio flat, costing $100k.
will invest in stocks ($1m from sale of condo) to get dividend of $50k pa.
total passive income, $78k pa or $6500 pm.
if kids give allowance that will be an added bonus but we are not hoping for that. |