|
|
18-04-2017, 04:25 PM
|
|
Me earn 185k and wife earns 200k. Me 39 years and wife 37 years.
We live in lovely condo near CBD.
Drive a lovely beemer.
|
18-04-2017, 08:40 PM
|
|
Quote:
Originally Posted by Unregistered
Contented upper middle class, late 40s couple.
Total earnings $180k pa. Home is a 3 bedder luxury condo, paid up.
Bought a new car with cash savings. No loan.
We grew up in a lower income family.
We are happy to climb up the social ladder.
We are better than our parents' generation.
Total net worth $2m.
|
You can retire at 55 yo without the need to downgrade. You can retire in place in your condo to enjoy the swimming pool and gym everyday.
Let's say your condo is worth $1m and your combined CPF is $500k. This means you have $500k cash to spend for retirement from 55 yo to 65 yo. At 65, your CPF Life will give a combined $4k pm or $48k pa.
Let's say you spend $3k pm or $36k pa from 55 yo to 65 yo, provided you have no maid and no car. So in total you will spend $360k over ten years. This is covered by the $500k cash.
When you pass away, you can leave behind the condo to your children.
|
19-04-2017, 05:00 AM
|
|
Quote:
Originally Posted by Unregistered
Contented upper middle class, late 40s couple.
Total earnings $180k pa. Home is a 3 bedder luxury condo, paid up.
Bought a new car with cash savings. No loan.
We grew up in a lower income family.
We are happy to climb up the social ladder.
We are better than our parents' generation.
Total net worth $2m.
|
You are the upper echelon of the society in SG
Congrats
|
19-04-2017, 05:02 AM
|
|
Quote:
Originally Posted by Unregistered
You can retire at 55 yo without the need to downgrade. You can retire in place in your condo to enjoy the swimming pool and gym everyday.
Let's say your condo is worth $1m and your combined CPF is $500k. This means you have $500k cash to spend for retirement from 55 yo to 65 yo. At 65, your CPF Life will give a combined $4k pm or $48k pa.
Let's say you spend $3k pm or $36k pa from 55 yo to 65 yo, provided you have no maid and no car. So in total you will spend $360k over ten years. This is covered by the $500k cash.
When you pass away, you can leave behind the condo to your children.
|
Sounds like a great advice. Thanks !
|
19-04-2017, 05:05 AM
|
|
Couple age 45
Filed income tax report with annual $480k
Owns a OCR 3 bedders paid up
Owns a new luxury car paid up
Cash and CPF on hand $2M
Hope to retire in 10 years time
Need to get out of the stressful work life
And enjoy our retirement by traveling leisurely
|
19-04-2017, 06:49 AM
|
|
Quote:
Originally Posted by unregistered
couple age 45
filed income tax report with annual $480k
owns a ocr 3 bedders paid up
owns a new luxury car paid up
cash and cpf on hand $2m
hope to retire in 10 years time
need to get out of the stressful work life
and enjoy our retirement by traveling leisurely
|
c
o
n
g
r
a
t
u
l
a
t
i
o
n
s
y
o
u
c
a
n
r
e
t
i
r
e
n
o
w
|
19-04-2017, 03:24 PM
|
|
Young couple age 30,29
Annual income $80k total
Just got married and waiting for BTO flat
Plans to have 2 children within next 3-5 years
Hope to save up for retirement by 55
It's encouraging to see so many rich people in this forum.
|
19-04-2017, 05:59 PM
|
|
Quote:
Originally Posted by Unregistered
Young couple age 30,29
Annual income $80k total
Just got married and waiting for BTO flat
Plans to have 2 children within next 3-5 years
Hope to save up for retirement by 55
It's encouraging to see so many rich people in this forum.
|
You can also be rich. Just flip your BTO flat twice.
Huat ah!!!!
|
19-04-2017, 11:50 PM
|
|
I'm 47 and semi retired. Was an executive in the financial sector. I have made enough.
Now I do some advisory work to spend my time. I also have a lot more time to spend with my family. My children loves me so much more now as I have more time to talk to them, to advise them. I'm like their best friend.
I don't want to be super rich. I'm happy with my wealth. My quality of life is a lot better. Very happy now.
|
|
|
Posting Rules
|
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» 30 Recent Threads |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|