Quote:
Originally Posted by Unregistered
I would like to share how my spouse and I managed to own a condo even though we don't earn much. We are both in our 40s and our total income is now only $170,000 per year. Our income can be considered as average household income at best.
So how do we manage to own a condo? We were lucky as we decided to upgrade to our condo after selling our HDB flat in 2006. We used the sales proceeds from the sale of our flat as downpayment for the condo and we just took a small loan. Today, we managed to clear our mortgage loan and the value of the condo has gone up since 2006 (value has dropped since 2013 though). Anyway what is most important is that we are now among the top 20% in Singapore living in a private property. We plan to retire in our condo and enjoy our condo facilities.
Our retirement plan is to invest in the CPF Life so that we will get income every month from our CPF Life. We can expect to get $3600 per month as a couple at 65. We will also save and get dividends of $2000 per month. Our children will give us $1000 per month. So, in total our passive income will be $6600 per month or $79,200 per year. |
How come you cannot get bored everyday telling people how much you made and how much you spouse made.
I know pretty well everybody come to this forum all are very well educated and make a lot of money. Those who make little will find no time for all these nonsense as they have to make a living even late at night or over the weekends.
So whether you make a million a year or not, just keep it to yourself. Don't ask if you can afford to retire by 65 or 75. Always remember, third world country people still can survive with less than a dollar a day.......