Quote:
Originally Posted by Unregistered
Wife 34, Husband 35 with 3 young kids. no car, no maid. No debts or loans.
Annual income- $170k
4 room Hdb flat- worth $440k in valuation (fully paid)
Combined CPF(OA+SA+MA) $343K
Combined Cash + Stocks $410K
We have seen peers around us upgrading to ECs & private condos, but find it too high a commitment. Even though our savings rate are not high due to having kids, we are still living quite comfortably within our means. We do indulge in holidays & restaurant meal at times... |
You're young. With no loans/ debts, you can afford to take a little risk and invest in a 2nd property. Loans are good as long as your returns are higher than the effective loan rate per annum.
I would recommend that you set aside 2/3, 3/4 of your income if you can, for investment. Property is a safe bet. If not, some bonds or blue chip stocks. If you do this, you should be able to retire before 50.