I'm surprised that you find this surprising. Many people do downgrade in order to monetise their housing asset. There are people who downgrade from landed property to a
hdb flat so that they have cash in hand. About retiring overseas, this is not unheard of. We even have a doctor in this forum who is planning to retire in JB at an early age. You may want to mix with more people to understand what people are doing for their retirement.
Quote:
Originally Posted by Unregistered
Hi all,
I'm a young professional and have been following this thread for some time now. I'm just curious as to why so many of the replies as quoted above seem to harbour a similar theme of downgrading to HDB upon retirement to generate cash flow to invest in revenue-generating assets.
I am not sure if it is the same person providing this advice, and I am by no means an expert on the matter, but realistically, how many people (especially in Singapore) will feel comfortable downgrading after so many years of working, saving and financial planning to afford private housing, only to retire and have to downgrade to public housing? Further, how many of them would sell their home and move to a 3rd world country like Thailand/JB just so they can convert SGD to the local currency and feel rich? These ideas seem really ridiculous and careless to me, which is why I am asking if anyone actually does and if so, are you really happy?
I mean, the ones who have paid up private housing in Singapore will probably have life insurance and reasonably large nest eggs in CPF anyway, not to mention their cash reserves are probably already being used to produce income from stocks/FD/etc..
Will be happy to debate the issue and see what you guys think of this.. Thanks! |