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How much are you earning per annum?

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  #3101 (permalink)  
Old 02-11-2013, 11:07 PM
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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.
Nothing wrong with staying in a HDB flat, but most people in Singapore got rich through leveraging property, so even if you earn 380K pa now, you may not earn that in the future, and its better to invest when times are good rather than waste money on consumption items like cars. You might notice when you are in your 40s and your colleagues with similar jobs are worth many more times than you because they leveraged with properties. It's difficult to leverage outside of property because banks don't typically lend you money to buy funds. If you really must stay in a HDB, then at least buy an investment property. However, most people get their seed capital for the expensive property that makes them rich by selling their HDB and using the profit as a downpayment.

Having a cute baby girl may be nice for now. But when they grow up, many kids turn bad and become a great stress on the family, especially teenagers. Sometimes, not having such a high flying job and spending more time with them can help, but not always.

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  #3102 (permalink)  
Old 03-11-2013, 02:28 AM
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45, sole breadwinner, $130k pa. Saves $35k pa. Lives in a 5 room HDB flat bought many years ago, no more loans. Hope to sell the flat at $600k, use the $600k as downpayment for a $1 mil condo. No car, take public transport. Current savings $200k. Looking for a condo either in the Jurong Lake area (JLD growth region) or the Woodlands area (North Coast Innovation corridor).

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  #3103 (permalink)  
Old 03-11-2013, 11:35 AM
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Hubby and I earn $209k pa in total. We save $47k pa. We live in a brand new condo and drives a 7 year old car. Our combined net worth is $2.6m. My kids love the condo due to the many facilities - nice big swimming pool, gym, tennis court and BBQ. By the time we retire, our kids will move out to form their own families. We will rent out our two spare rooms to FTs, probably at $1.5k per month per room. With our other resources, we should get about $6k per month in retirement income. $6k per month will be sufficient since we will not be having a maid nor do we own a car by then (these are two major household expenses for us currently). We can continue to enjoy the condo till we die.

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  #3104 (permalink)  
Old 03-11-2013, 03:10 PM
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For me and wife, we value our privacy. So, when we retire we will sell our condo and downgrade to a 3 room HDB flat. We will invest the extra cash to get dividends.

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Hubby and I earn $209k pa in total. We save $47k pa. We live in a brand new condo and drives a 7 year old car. Our combined net worth is $2.6m. My kids love the condo due to the many facilities - nice big swimming pool, gym, tennis court and BBQ. By the time we retire, our kids will move out to form their own families. We will rent out our two spare rooms to FTs, probably at $1.5k per month per room. With our other resources, we should get about $6k per month in retirement income. $6k per month will be sufficient since we will not be having a maid nor do we own a car by then (these are two major household expenses for us currently). We can continue to enjoy the condo till we die.
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  #3105 (permalink)  
Old 03-11-2013, 05:22 PM
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I make $100k pa. My wife earns $110k pa. We save $40k pa. We live in a condo. We hope to retire by the age of 68.
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  #3106 (permalink)  
Old 03-11-2013, 06:23 PM
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I make $100k pa. My wife earns $110k pa. We save $40k pa. We live in a condo. We hope to retire by the age of 68.
Why are you spending so much?
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  #3107 (permalink)  
Old 03-11-2013, 07:16 PM
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Why are you spending so much?
We support both parents (4 persons) financially. Don't you do that?


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  #3108 (permalink)  
Old 03-11-2013, 11:09 PM
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Couple in late 40s, combined income $250k. 2 kids. Owns and lives in a condo. Drives a conti car. Enjoys going holidays. Current net worth $2.8m. No retirement plan. Will work as long as possible as we love working. If we are retrenched, we will find other work like working in supermarket or coffee shops.
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  #3109 (permalink)  
Old 04-11-2013, 07:02 AM
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51, $190k pa. Wife not working. Stay in a condo, drives a car.
Family net worth $2.4m. Plans retire in 15 years time. Upon retirement, will sell the condo and buy a 3 room HDB flat. The net cash proceeds will be used for retirement.
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  #3110 (permalink)  
Old 04-11-2013, 10:33 AM
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51, $190k pa. Wife not working. Stay in a condo, drives a car.
Family net worth $2.4m. Plans retire in 15 years time. Upon retirement, will sell the condo and buy a 3 room HDB flat. The net cash proceeds will be used for retirement.
Wow! You are doing very well. You can consider retiring at 60. But you don't have to stay in an old public housing. You can retire in Malaysia or Thailand as very rich retirees. If you sell your condo say at S$2m, you will get RM5m. Even if you spend RM1m to buy a mansion there, you still have RM4m to retire on. More than enough to last you for 30 years. In Thailand, you will be like a rich tycoon, with maids and servants serving you.
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