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  #10059 (permalink)  
Old 31-05-2016, 06:55 PM
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You're healthy financially. Quite underleveraged.

Your MSR (mortgage servicing ratio) is 16% (lower than the 30% guideline)
Your TDSR (total debt servicing ratio) is 22% (lower than the 60% guideline)

Assume you clear all your debt at your retirement age of 60.
Your savings will increase by $385k.

You can can sell your condo and buy a small one bedroom condo, paid in full.
Let's say your have cash of $1m to invest in a 5% dividend yield portfolio, you will earn $50k pa. in dividends. When you reach 65, your CPF Life will give you $43k. So your passive income will be $93k pa.

Originally Posted by Unregistered View Post
Middle class family, 48 & 49 year old.

Our expenses

Condo mortgage $2150 pm or $25,800 pa
Car loan $800 pm or $9,600 pa
Car petrol, road tax, car insurance, parking, etc $700 pm or $8,400 pa
Groceries, restaurants & utilities $2000 pm or $24,000 pa
Medical Insurance $1700 pm or $20,400 pa
Holiday travels $800 pm or $9,600 pa
Children $500 pm or $6,000 pa
Parents allowance & gifts $1600 pm or $19,200 pa
Others $500 pm or $6,000 pa
Total expenses $10,750 pm or $129,000 pa

Total income, including bonuses $164,000 pa
Total savings $35,000 pa

Net worth

Condo equity $800k
Cash & CPF $650k
Stocks $50k
Total net worth $1.5mil

How are we doing? How do we fare compared to our contemporaries?
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