How much are you earning per annum?

Originally Posted by Unregistered

Good to see that you're very prudent in your retirement planning. Saving $1500 pm or $18k pa will surely prepare you well for inflation. In fact, you have over provided.

At 65, your CPF Life starts paying you $3600 pm, which makes your passive income $7,600 pm! Even if your expenses increases to $3500 pm when you reach 65, no problem at all! Excellent!

Thank you. Retirement planning must start early in life, not until we are old, in our 50s. We made sure that by 55, we are debt free and do not incur wasteful expenses such as owning a car. A car is not only wasteful but destroy the environment.

Anyway, when we are retired, we have all the time in the world to do things at a leisurely pace. Public transport costs a small fraction of car ownership. Car ownership can cost $2k pm. This is ridiculous for a retired couple to own. If we really need a car, can just call Grab or Uber.

You are right, when we reach 65, we will get more passive income from CPF Life (each of us will choose the highest payout option) which we can use to save or spend more on holidays.

If you have been following the news, you will know that there is a high chance that we will enter a RECESSION next year in 2017.

This means that there will be many job losses, property prices will crash, property rentals will crash, COE prices will crash and there will be many unemployed people, especially those older workers.

So, better be safe. Don't waste money on cars, employing maids, expensive restaurants and expensive holidays. YOU could be retrenched next year.

I think COE prices will most likely crash to below $30k in 2017.

Keep lots of cash so that you can use the cash to feed your family if you and wife are both retrenched next year.

The other side of the coin is that if the recession strikes, it will present yet another window of opportunity for investors. Those who missed the 97/98 AFC, 2003 SARS, and 08/09 GFC should not miss this opportunity again.

Get that penthouse/landed property that you have been eyeing all this while, or scoop up all the heavily discounted shares.

This is where those who have built up your "war chest" can be put to good use.

Originally Posted by Unregistered

If you have been following the news, you will know that there is a high chance that we will enter a RECESSION next year in 2017.

This means that there will be many job losses, property prices will crash, property rentals will crash, COE prices will crash and there will be many unemployed people, especially those older workers.

So, better be safe. Don't waste money on cars, employing maids, expensive restaurants and expensive holidays. YOU could be retrenched next year.

I think COE prices will most likely crash to below $30k in 2017.

Keep lots of cash so that you can use the cash to feed your family if you and wife are both retrenched next year.

Originally Posted by Unregistered

The other side of the coin is that if the recession strikes, it will present yet another window of opportunity for investors. Those who missed the 97/98 AFC, 2003 SARS, and 08/09 GFC should not miss this opportunity again.

Get that penthouse/landed property that you have been eyeing all this while, or scoop up all the heavily discounted shares.

This is where those who have built up your "war chest" can be put to good use.

Easier said than done. What if YOU and WIFE are BOTH RETRENCHED?!

How to buy the penthouse when you have to worry about putting food on the table?

Some more, if you are jobless, no bank will lend you money. So how to buy the landed property?

In any crisis, there will be those who are hit badly and those who can still bail out the others. Make sure you are in the right group. To be in the right group, it takes discipline and is a long journey. It is not a one year effort but maybe 10 to 20 years or more of disciplined and prudent living, saving up and investing well.

Many people I know are in this group where they have been saving consistently, spending well within their means -- some saved as much as 75% of their income annually. They can easily afford continental cars, but they chose to buy the mass market jap car. They can afford to buy condos and landed properties, but they chose to stay in HDB waiting for opportunity to buy the condos and landed properties at greatly discounted prices in a crisis. Who do you think are buying the distressed properties in a crisis?

More importantly, these group of people could also retire early, but they chose to continue working.

Originally Posted by Unregistered

Easier said than done. What if YOU and WIFE are BOTH RETRENCHED?!

How to buy the penthouse when you have to worry about putting food on the table?

Some more, if you are jobless, no bank will lend you money. So how to buy the landed property?

My wife earns 1.5m pa and I earn 230k pa. We are in our late thirties.

We have 2 children who are in primary school.

We stay in a big condo and have 1 beemer.

We are priming for this incoming crisis to invest all our cash in 1 go.

I'm hoping that the $20m GCB will crash to $5m.

Penthouse will crash from $5m to $2m.

I love crisis. Time to deploy my cash. LOL.

I also think there will be a global economic crisis next year. We have too much oversupply of properties in the market. Vacancies are very high, you see empty condos everywhere, at night there are condos which are dark as not many people staying there. Condos are empty because not enough tenants. Owners will have to sell at a loss if they have no choice due to financial problems.

I wish COE prices will drop to $20k next year so that I can scrap my current car and change to a brand new car. I paid $60k+ COE for my car and if COE drop to $20k, I can just scrap it and get a new car.

Originally Posted by Unregistered

If you have been following the news, you will know that there is a high chance that we will enter a RECESSION next year in 2017.

This means that there will be many job losses, property prices will crash, property rentals will crash, COE prices will crash and there will be many unemployed people, especially those older workers.

So, better be safe. Don't waste money on cars, employing maids, expensive restaurants and expensive holidays. YOU could be retrenched next year.

I think COE prices will most likely crash to below $30k in 2017.

Keep lots of cash so that you can use the cash to feed your family if you and wife are both retrenched next year.

If I were you, I will aim to buy a property when prices come crashing down. A car no matter how cheap or expensive will last only 10 years. Buying a good property during the downturn and selling it off when the economy picks up, you can easily one buy one or two cars just from the profit alone! It has been done!

Originally Posted by Unregistered

I also think there will be a global economic crisis next year. We have too much oversupply of properties in the market. Vacancies are very high, you see empty condos everywhere, at night there are condos which are dark as not many people staying there. Condos are empty because not enough tenants. Owners will have to sell at a loss if they have no choice due to financial problems.

I wish COE prices will drop to $20k next year so that I can scrap my current car and change to a brand new car. I paid $60k+ COE for my car and if COE drop to $20k, I can just scrap it and get a new car.

This is a wise reminder. Not safe to invest now, especially condos. No tenants nowadays.
I will wait for STI to drop to 1000 before I buy up stocks.

Originally Posted by Unregistered

If you have been following the news, you will know that there is a high chance that we will enter a RECESSION next year in 2017.

This means that there will be many job losses, property prices will crash, property rentals will crash, COE prices will crash and there will be many unemployed people, especially those older workers.

So, better be safe. Don't waste money on cars, employing maids, expensive restaurants and expensive holidays. YOU could be retrenched next year.

I think COE prices will most likely crash to below $30k in 2017.

Keep lots of cash so that you can use the cash to feed your family if you and wife are both retrenched next year.