How much are you earning per annum?

Im earning 100k per annum.
expenses around 40k
single male.

Astute observation. The real successful people (in whatever fields) are those that have found meaning, and attained recognition in their respective fields. They are very likely to be working late into their lives and money is the not main motivation anymore. In their 60s, instead of retiring completely, they will transition to advisory or consultancy roles.

On the other hand, they are those who earned a little bit of money, cannot handle the stress and then quit their job, and come here talked loud loud. At first, I found their loud talking amusing which then turned into embarrassment when they kept repeating without realizing that people are quietly laughing at them.

Originally Posted by Unregistered

It is because they enjoyed the work and the power. That's why they are successful and their job defines their place and satisfy their ego. Who says you have to retire to enjoy life?

Hi All,

Just writing to wish one and all a Happy New Year. May the new year bring peace, good health success and happiness to all.

From the 56 year old guy.

2016 has been a good year. I managed to spend a lot of time with my family. I also gave my time to volunteer at welfare organisations. My family is a lot happier now. We feel very blessed and fortunate. Our finances and investments are also doing well and on target towards our retirement in ten years time at 58.

We have paid down a significant amount of our condo mortgage. We could clear off our mortgage if we wanted to but didn't. Why should we when our mortgage interest rate is still less than what our CPF Ordinary Account is giving us? If our mortgage interest rate rises above 2.5%, we will then just pay off our mortgage totally. Anyway our mortgage is only about $170k plus left, whereas our condo should be worth at least $1m.

We hope 2017 will be as good as 2016 or better. Wishing the world to be a peaceful and prosperous world in 2017.

Have a good 2017 everyone!

Hi fellow posters,

In case you dont know, the CPF interests for 2016 have been credited into your accounts.

For me, it is a pleasing $35K in total from all CPF accounts.

How about yours?

Originally Posted by Unregistered

Hi fellow posters,

In case you dont know, the CPF interests for 2016 have been credited into your accounts.

For me, it is a pleasing $35K in total from all CPF accounts.

How about yours?

Amazing how did you get $35k for all OA SA MA?

For me I merely get $12k interest for myself
Add up my Wife total only $24k

You must have a big fortune sitting in CPF

Originally Posted by Unregistered

What is a $100k pa lifestyle? We aim to travel overseas once or twice a year, attend live concerts, have a car, have a maid, continue with our present hobbies (golf, tennis etc), stay in our current condo....as what we are currently enjoying now.

Assuming house fully paid. A car costs at least $2k per month all in. A maid with levy and her food will be $1k per month. Golfing and condo maintenance another $1k. Travel twice a year $20k per year ~ average out $2k per month. Concerts, restaurants, groceries, utilities, handphone, cable TV, broadband will cost circa $3k. You will need at least 108k per year.

Assuming you are 40 years old now, and need to work 20 years to retirement. To amass 6m cash in future, you will need to factor time value of money. So, I put the revised figure at 8m now. Also, you will need to pay off your condo mortgage first. Hence, total figure is now at 10m cash. I take 10m divide by 20 years and you need to earn 500k pa.

Can show a printscreen of your NOA before we discuss further?

Originally Posted by Unregistered

Hi fellow posters,

In case you dont know, the CPF interests for 2016 have been credited into your accounts.

For me, it is a pleasing $35K in total from all CPF accounts.

How about yours?

Impressive. You probably have about $1m in your CPF.
My interest for 2016 is $19k.

Originally Posted by Unregistered

Impressive. You probably have about $1m in your CPF.
My interest for 2016 is $19k.

My total interest for 2016 is $13k.

Looks like many people in singapore have a lot of money kept with the government in CPF

Total CPF interest (Husband & Wife combined) for 2016 is $20k.
Total cash savings (both combined) for 2016 is $30k.
Total savings from CPF interest and cash savings is $50k.
In 10 years, we should have saved at least $500k.