How Much Do You Need to Earn Before You Even Think of Buying A Car In Singapore? - Page 4 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




How Much Do You Need to Earn Before You Even Think of Buying A Car In Singapore?

 Citibank Cash Back Card - up to $350 cash back* - Click to Apply Now 
Reply
 
Thread Tools
  #31 (permalink)  
Old 21-04-2017, 11:24 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
You forgot to add another group of people who derive pleasure in posting highly inflated or totally fake incomes. Wonder how they feel about themselves.

I belong to the group that is happy to see "the numbers" grow. You may not believe it, but it is not totally about the money anymore after a certain point. To me at least, it is like a hobby that is successful and that gives us joy and satisfaction to see "the numbers" growing.

When I first started out on this "hobby", it was to grow my passive income with the ultimate aim to cover my annual expenses so that we can retire in comfort and assured. But when we see both our passive income and NW grow each year, it got us hooked.

Our very initial passive income target was a very modest $50k pa. This was easily met within 2 years of setting it. We pushed the target higher each time the old target was achieved. This year we hit the $150k passive income target, and have raised the bar to $180k pa. The increase in passive comes in tandem with our NW growth. The SIZE of the investment capital matters when investing for passive income. (By the way, we assessed that we would only need $90k pa in retirement)

Needless to say, the yearly passive income helps to accelerate our NW growth. It is like self re-enforcing spiral.
The simple rule in life is to have as little regrets as possible... So there is no absolute right or wrong of living one's life. In recent years, I have witnessed a number of friends and relatives whose lives were cut short before hitting 55. Better to live as well as you can afford to, no need to be over conservative. We only live once....if you can afford, go ahead and indulge yourself every now and then while you are still relatively young...

By the way, there is another group of people whose main purpose to have lots of money is to feel good and be a show off. Their money is not for the purpose of spending and enjoy life, but spend to make themselves look rich and successful....

Reply With Quote
  #32 (permalink)  
Old 22-04-2017, 12:47 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
You forgot to add another group of people who derive pleasure in posting highly inflated or totally fake incomes. Wonder how they feel about themselves.

I belong to the group that is happy to see "the numbers" grow. You may not believe it, but it is not totally about the money anymore after a certain point. To me at least, it is like a hobby that is successful and that gives us joy and satisfaction to see "the numbers" growing.

When I first started out on this "hobby", it was to grow my passive income with the ultimate aim to cover my annual expenses so that we can retire in comfort and assured. But when we see both our passive income and NW grow each year, it got us hooked.

Our very initial passive income target was a very modest $50k pa. This was easily met within 2 years of setting it. We pushed the target higher each time the old target was achieved. This year we hit the $150k passive income target, and have raised the bar to $180k pa. The increase in passive comes in tandem with our NW growth. The SIZE of the investment capital matters when investing for passive income. (By the way, we assessed that we would only need $90k pa in retirement)

Needless to say, the yearly passive income helps to accelerate our NW growth. It is like self re-enforcing spiral.
Mind sharing what kind of investment portfolio you have? I presume it's low risk low reward but you guys have large capital?

Reply With Quote
  #33 (permalink)  
Old 22-04-2017, 10:10 AM
Unregistered
Guest
 
Posts: n/a
Default What a car means to me

My wife and I were driving our own cars before we got married, and we continued having our own car even after we married. We just celebrated our 29th wedding anniversary, which means that our family has been owning 2 cars for 29 years.

Now that we are nearer to retirement we planned to have just 1 car when we retire. As we stay very near to an MRT station (practically at our doorstep) we thought perhaps maybe we might even do away with the car altogether.

So we tried moving around using public transportation for a week. Here's our findings:

The good parts
1. The MRT and buses are comfortable enough to travel in (as long as not during super peak periods) - spacious and air conditioned.
2. The fares are very reasonable
3. Sometimes, taking the MRT brings us faster to our destination even with changes to different lines
4. No worries about finding car parking lot when you reached your destination.

The bad parts
1. No privacy
2. Have to squeeze and it gets worse when your fellow passengers are sweaty and smelly
3. No flexibility to change destination at your whims and fancy
4. Involves a lot more walking (ok granted walking is good for health)
5. It gets difficult when you have bulky items like your weekly groceries or other big items. (With a car, we never feel this is a problem as we just dump them in the boot.)
6. Difficult for elderly to squeeze with the younger crowd for space, getting up and down busses.
7. Not all destination are accessible by MRT and busses. You would need to take taxis or private hire cars.
8. When traveling as a family of four, it is difficult to sit together and not really cheaper from driving your own car.

After that 1 week experiment, we concluded we will still want a car even in retirement. We want flexibility and our family can continue to go out together in comfort and privacy. As we buy our groceries once a week, the car comes in very handy. We can just put everything in the boot and not have to break our buys into smaller batches over a few trips.

Reply With Quote
  #34 (permalink)  
Old 05-02-2018, 12:07 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
You forgot to add another group of people who derive pleasure in posting highly inflated or totally fake incomes. Wonder how they feel about themselves.

I belong to the group that is happy to see "the numbers" grow. You may not believe it, but it is not totally about the money anymore after a certain point. To me at least, it is like a hobby that is successful and that gives us joy and satisfaction to see "the numbers" growing.

When I first started out on this "hobby", it was to grow my passive income with the ultimate aim to cover my annual expenses so that we can retire in comfort and assured. But when we see both our passive income and NW grow each year, it got us hooked.

Our very initial passive income target was a very modest $50k pa. This was easily met within 2 years of setting it. We pushed the target higher each time the old target was achieved. This year we hit the $150k passive income target, and have raised the bar to $180k pa. The increase in passive comes in tandem with our NW growth. The SIZE of the investment capital matters when investing for passive income. (By the way, we assessed that we would only need $90k pa in retirement)

Needless to say, the yearly passive income helps to accelerate our NW growth. It is like self re-enforcing spiral.
Haha....rich people no need to come to this topic anyways...I came bcos I am struggling to decide if I should spend $200k on down payment, when I earn $18k per month...
What’s the point of having so much passive income only to become too old and grey to enjoy it...? Siao.....
Reply With Quote
  #35 (permalink)  
Old 29-06-2020, 09:39 PM
Junior Member
 
Join Date: Dec 2019
Posts: 2
Kian2019 is on a distinguished road
Default

You must sell a kidney for buying a car in Singapore lol..Expecting the fact that you have to spend almost 100k for a sedan or a small SUV but I for a luxury one you ave to sell two kidneys. Moreover, the running cost isn't the cutest one. Although, there is always a solution. even you have a job where you earn almost 6k, you can afford a used one, getting in leasing or a loan. I did so, I drive a Toyota Corolla, and I suppose to pay off 4 years to Money Expert company, 1000 monthly . But I need this car, I have family, kids, shopping. Public transport isn't convenient for my needs.
Reply With Quote
  #36 (permalink)  
Old 29-06-2020, 10:17 PM
Unregistered
Guest
 
Posts: n/a
Default

Once you have a car you'll always need a car. I have been driving for more than a decade since I got my lisen cos my family had a few car. When I start work move out although earn 3k still need to buy a car cos used to it.

My kidney are still in my body.
Reply With Quote

  #37 (permalink)  
Old 30-06-2020, 08:42 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Once you have a car you'll always need a car. I have been driving for more than a decade since I got my lisen cos my family had a few car. When I start work move out although earn 3k still need to buy a car cos used to it.

My kidney are still in my body.
But how much you safe? After deducting the maintenance costs of the car away, I'm guessing really little?
Reply With Quote
  #38 (permalink)  
Old 30-06-2020, 08:57 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
But how much you safe? After deducting the maintenance costs of the car away, I'm guessing really little?
I down grade from driving luxury vehicle to poverty can on 4 wheels. Sinagpore is tough, I save only my kidney.
Reply With Quote
  #39 (permalink)  
Old 30-06-2020, 09:00 AM
Unregistered
Guest
 
Posts: n/a
Default

Car is only affordable by foreigner, you cheap local chingchong chingaporean just go f u c k urself with low salary and sleep at cheap hdb.
Reply With Quote
Reply

Bookmarks

Tags
afford, cars, coe, vehicles

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Buying back of used printer cartridges, ink & Supply long0857 Marketplace and Find Work 5 06-12-2019 06:52 AM
What are the Rules and Restrictions in buying overseas properties? hesterferranti General Discussions 0 08-01-2015 09:52 AM
Buying property in Europe to get a residence visa warning Investments and Net Worth 2 11-12-2014 09:52 PM
how much do scholars earn? oxfordd Income and Jobs 2 17-05-2012 11:32 AM
Checklist for buying property Salary.sg Investments and Net Worth 1 19-10-2008 11:03 PM

» 30 Recent Threads
DBS Management Associate Program... ( 1 2 3... Last Page)
1,770 Replies, 270,846 Views
ST Electronics ( 1 2 3... Last Page)
680 Replies, 211,164 Views
Compare civil service salary ( 1 2 3... Last Page)
10,103 Replies, 5,582,113 Views
How much do you earn and save? ( 1 2 3... Last Page)
101 Replies, 13,362 Views
Roles in accenture singapore ( 1 2 3... Last Page)
377 Replies, 250,647 Views
Mid-Year Civil Servant Bonus 2019 ( 1 2 3... Last Page)
1,633 Replies, 783,672 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
2,191 Replies, 969,985 Views
Lawyer Salary ( 1 2 3... Last Page)
7,597 Replies, 2,606,632 Views
anyone working at NCS ? ( 1 2 3... Last Page)
392 Replies, 287,405 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
3,294 Replies, 1,907,243 Views
Feeling helpless, need advice... ( 1 2)
10 Replies, 733 Views
What's the graduate officer... ( 1 2 3... Last Page)
54 Replies, 12,995 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
2,912 Replies, 1,084,415 Views
Anyone being hired during covid... ( 1 2)
17 Replies, 1,215 Views
Career as Teacher ( 1 2 3... Last Page)
2,659 Replies, 1,606,028 Views
Possible to earn passive income... ( 1 2)
15 Replies, 4,018 Views
Anyone working in NTU... ( 1 2 3... Last Page)
91 Replies, 92,706 Views
AML/Compliance/KYC professionals... ( 1 2 3... Last Page)
1,380 Replies, 564,718 Views
Please Share DBS Average Months... ( 1 2)
17 Replies, 3,087 Views
Submitting My Resume To ST... ( 1 2)
17 Replies, 22,075 Views
Sharing my Passive and Active...
2 Replies, 489 Views
where can i buy nintendo stock?
6 Replies, 3,381 Views
[advice] Recruitment agency... ( 1 2)
15 Replies, 1,951 Views
HR Career advice
3 Replies, 1,438 Views
High Finance Thread ( 1 2 3... Last Page)
89 Replies, 15,502 Views
Queries about Cpib application ( 1 2 3... Last Page)
1,089 Replies, 499,782 Views
Can share your your car...
2 Replies, 229 Views
Pay for digital marketing agencies
7 Replies, 2,143 Views
Any Kaplan students here can land... ( 1 2)
14 Replies, 1,084 Views
How is life as a doctor in... ( 1 2 3... Last Page)
1,291 Replies, 907,561 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 12:07 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2