Quote:
Originally Posted by Unregistered
He did not provide good advice. He is either stupid or jealous.
$150k pa is not a lot but the point is, the guy has no more condo mortgage. His mortgage service ratio is ZERO. So he is totally ok financially to enjoy living in his condo, which offers prestige, facilities and security. His $150k pa household income still allows him to save every year. Not forgetting, his CPF can grow because no more mortgage to pay. So, what's the problem? There is no problem.
He is better off financially that those with income of $250k pa but burden with $1m mortgage! |
You must be one of those who caused Singapore's financial literacy score to drop drastically last year.
The guy with 250k pa and 1m mortgage is clearly better off. In 10 years time his condo will be fully paid and every year he has an extra 100k which is 2/3 of that guy's pa income.
That said, some people are satisfied with a simple life and we should applaud them for that. It takes a matured individual to know your place in society and to be contented with what you have, rather than striving to own more and more worldly possessions.