Well Done, impressive net worth at a young age
Prudent not to buy a car. It constantly amazes me how much Singaporeans are willing to splurge on cars. When I used to stay at
hdb, there were a large number of fancy mercs and bmw in the
hdb car park. These cars probably cost 50 to 75 percent of the value of the
hdb flat the owners stay in - this is for a depreciating asset that has only 10 years lifespan!
Once you have kids, would probably make sense to get a car though
Quote:
Originally Posted by Unregistered
Age: 33
Total income (2013): 127K (job) + 37K (rental income) = 164K
Property: condo (home), investment property 1 (rented out), investment property 2 (rented out). Value of all properties: 3.2M. Mortage remaining for all properties:0.85M
Cash + shares: 100K
CPF (OA+SA+MS): 155K
Car: NIL
Children: NIL
Proud of: Not owning a car despite the pressure to, from image point of view - Its only thru not buying a car that I could have owned multiple properties at 33 and with a not v high paying job.
Worries: Everyday I think about how to reduce my tax, and how to grow my nest egg. Its going to be more difficult to have children.
Regrets: I should have had children earlier. I should have spent less on branded goods, holidays and dining out when I was younger. Then could have bought another property ~
Tired of: walking and taking bus when it is raining  |