How much are you earning per annum?

You completely missed my point. Firstly I didn't say we could not retire. We are still young and why would anyone retire if they like what they are doing, not to mention that the money is good.

The point I was making was that anyone can say they can make 5% dividend from such and such millions of investment, but to really do it when that will be the only source of income, they will adopt a very conservative approach. You will spread that investment to cover some low risk, low return investment like bonds, even FDs. End up, your net returns may only be around 3% to 3.5% or lower at 2% like in our case.

For us, we took an aggressive investment approach when we younger. We bought:
Our first property in 2003 at $850k (now $1.7m on paper)
Bought the 2nd property in 2008 at $800k (now $1.3m on paper)
Shares, unit trusts were accumulated throughout our working life (now valued at $1m)

In our case, we already invested in property, and shares and the returns is still only around 2% of our net worth. So to those who claim they can get 5 or 6% returns, think again.

Originally Posted by Unregistered

You're a typical Sibgaporean. A net worth of $5.5m and yet scared to retire. Fools. Just sell your condo and buy a cheap $1m condo. Then you have $4.5m to invest. At 5% dividend, you get an annual dividend of $225k. Not enough? There are so many Singaporeans who are already retired. They live in their hdb flats and survive by their savings, CPF and room rentals from their 2 spare rooms. Please don't be a paranoid fool. Or are you trying to show off by announcing to the world you have a net worth of $5.5m?

You're right. If you are still young, say 35 yo, then you definitely should not retire. You will be bored to death. If you continue to live in your current condo, then your investment portfolio will be smaller. Your inability to generate high returns also limit your passive income. If I were you, I will be able to generate at least 5% annual dividends. So with $4m, I can get passive income of $200k pa. In your case, best for you to stick to what you have and know. Continue to work and save and retire only when you reach $15m. $15m should be enough for you and wife to retire quite comfortably if you don't insist on 6 star hotels and first class seats when going holidays.

Originally Posted by Unregistered

You completely missed my point. Firstly I didn't say we could not retire. We are still young and why would anyone retire if they like what they are doing, not to mention that the money is good.

The point I was making was that anyone can say they can make 5% dividend from such and such millions of investment, but to really do it when that will be the only source of income, they will adopt a very conservative approach. You will spread that investment to cover some low risk, low return investment like bonds, even FDs. End up, your net returns may only be around 3% to 3.5% or lower at 2% like in our case.

For us, we took an aggressive investment approach when we younger. We bought:
Our first property in 2003 at $850k (now $1.7m on paper)
Bought the 2nd property in 2008 at $800k (now $1.3m on paper)
Shares, unit trusts were accumulated throughout our working life (now valued at $1m)

In our case, we already invested in property, and shares and the returns is still only around 2% of our net worth. So to those who claim they can get 5 or 6% returns, think again.

Originally Posted by Unregistered

I am very skeptical of many of the claims here. According to the latest forbes reprot Singapore's Multimillionaires: New Wealth Report Busts The Myths - Forbes, the average age for Singaporean to hit his first million is 49 and average age for multi-millionaires here is 69.

Looking at all the post here, most people seem to be claiming they are millionaire in their late 20s or early 30s. Many self declare multi millionaires here all say they are in their 30s or 40s. If true these anoynomous unregistered posters are not only elite, but top even among the elite society in Singapore

Of course they are fake. You think a real 30 year old multi millionaire will waste time typing out his life story to a bunch of nobodies on an online unregistered forum?

Even if they want to show off or share knowledge, they will go for the media instead. It's probably the work of 1 or 2 loons talking with himself under multiple unregistered post.

Life is more than just relaxing and partying all the time.

I am 36 this year and have already net worth exceed US$30million in properties, stocks and precious metals generating passive income of US$1.7mil every year , but I still choose to work part time as a consultant in areas I have passion in.

Flying in first class and 6 star hotels can be quite boring after some time, better to find some hobbies to do.

I feel so useless among all the high achievers here

45 yrs old, retired liao. No active income.

Wife, also 45, still working, 270K pa.

Passive income :
1. 280K dividend (fluctuate)
2. 160 K rental (gross)

Switched to lower gear, enjoy simple life.

50, billionaire, net worth $2b only, lesser than Bill Gates and Warren B, feeling sad. Need to work harder to reach $10b.

what's wrong with staying in a hdb flat?

my wife and i are both 32 this year. my own p.a salary is in the 200-210k region. wifey about 170-180k. so combined we are looking at ard 380k p.a.. staying in 4rm hdb. investment funds worth ~$1.1million now. 1 BMW 525. 1 cute baby girl. happy and content.

just stay in hdb and be happy lah.

Why do some people think living in HDB is bad?

Any views from bros here?

Im curious also , while one one hand you get a freehold. their hand 99 years is actually long enough for 3 generations as well.

So whats the difference? Can we say that HDB is not part of your asset since it will be gone in 99 years?

Originally Posted by Unregistered

Of course they are fake. You think a real 30 year old multi millionaire will waste time typing out his life story to a bunch of nobodies on an online unregistered forum?

Even if they want to show off or share knowledge, they will go for the media instead. It's probably the work of 1 or 2 loons talking with himself under multiple unregistered post.

Actually, you are the only idiot here who keeps replying to himself, posting these "disbelief" posts, including the two after the above. Give up lar. Is it that bad that so many people exceed you in life?

You guys are hilarious.

Expects everyone to be same as you, and just cannot accept that there will be people who achieved much more. You can already see around you many condos, many "ang moh" cars and many landed properties being torn down only to be rebuilt bigger and taller.

Ask yourself who are the people buying all these? How can they afford it? What are they working as?

Somewhere, someone staying in those landed properties or condo is writing to this forum. He may be sitting by the pool side sipping lemonade while typing this. And every time you guys post your disbelief, they are having a good laugh.

Originally Posted by Unregistered

Of course they are fake. You think a real 30 year old multi millionaire will waste time typing out his life story to a bunch of nobodies on an online unregistered forum?

Even if they want to show off or share knowledge, they will go for the media instead. It's probably the work of 1 or 2 loons talking with himself under multiple unregistered post.