How much are you earning per annum?

I will also be retiring soon, in about 5 years time. Luckily I now own and live in a FH terrace house which is now worth $3m. I bought it 30 years ago and have no more loan on it. When I retire, I will sell this terrace house and will buy a small condo in the Jurong Lake area for $1m plus. I will have about $2m to invest in stocks, which can give me a passive income of $100k pa, this should be enough for me and my wife as we won't need a car as the condo will be very near an MRT station.

Originally Posted by Unregistered

If you are depending on that $30k pa to survive, I would advice that you downgrade to a small HDB flat immediately. $30k pa ($2.5k pm) is hardly enough for a couple staying in a small HDB flat not to mention living in an EC.

At least in the HDB, you don't have to contend with keeping up appearances. It is already bad enough to have to scrimp and save, but it would very bad to worry what your EC neighbors are thinking about you. That's probably why you lost weight.

It is good that you shared your story as it served as a reminder to all of us to prepare for our retirement. I feel that the many posters whose current passive income exceeds their expenses did not factor in the effects of inflation in their calculation. Within a few years, their expense will catch up with and then exceed their passive income.

I have revised my targeted passive income goal two times already from $80k pa to $100k pa and now at $120k pa. I had estimated that my retirement expense to be $80k pa. The $40k buffer will be eaten away in 8 years by inflation

Sorry to interrupt the flow but i noticed that lately, the last few posts were posted
by those in their 40s to 50s who talk about their properties and net worth and retirement plans. Most of you all have experienced the great appreciation of property prices in the last decade and the cash readily available to go into the stock market in 2009 and during the eurozone crisis, the era when you can buy multiple properties, make millions in banking.

I graduated in 2007, at the peak of the financial boom and whatever savings i have, bulk of which, will be used for my housing, reno, wedding (even more expenses for those who choose to have children). My question is, on behalf of those in their late twenties to early thirties, is it possible and how do you make millions again like our seniors in this forum who own multiple private properties going forward in sg?

Originally Posted by Unregistered

Sorry to interrupt the flow but i noticed that lately, the last few posts were posted
by those in their 40s to 50s who talk about their properties and net worth and retirement plans. Most of you all have experienced the great appreciation of property prices in the last decade and the cash readily available to go into the stock market in 2009 and during the eurozone crisis, the era when you can buy multiple properties, make millions in banking.

I graduated in 2007, at the peak of the financial boom and whatever savings i have, bulk of which, will be used for my housing, reno, wedding (even more expenses for those who choose to have children). My question is, on behalf of those in their late twenties to early thirties, is it possible and how do you make millions again like our seniors in this forum who own multiple private properties going forward in sg?

Save up and invest directly in stocks and/or property when the time comes. It always comes. Be patient.

Don't spend too much on unit trusts and insurance.

The property boom is over. Forget about dreaming to be rich through property. Just focus on saving money. Only invest if you know how to invest or else don't invest.

Originally Posted by Unregistered

Sorry to interrupt the flow but i noticed that lately, the last few posts were posted
by those in their 40s to 50s who talk about their properties and net worth and retirement plans. Most of you all have experienced the great appreciation of property prices in the last decade and the cash readily available to go into the stock market in 2009 and during the eurozone crisis, the era when you can buy multiple properties, make millions in banking.

I graduated in 2007, at the peak of the financial boom and whatever savings i have, bulk of which, will be used for my housing, reno, wedding (even more expenses for those who choose to have children). My question is, on behalf of those in their late twenties to early thirties, is it possible and how do you make millions again like our seniors in this forum who own multiple private properties going forward in sg?

It would be wrong to assume all old timers grew their wealth through property investments. In my cohort of "old timers" (>50 yrs old) I know many of them still have only 1 property, the one they are living in. The advantage we had was, we could buy condos and landed properties at lower prices than now.

We do talk about our net worth and discuss investment. More so now that retirement is nearer. Most of us have worked close to 30 yrs or more. Obviously those with spouses also working tend to have higher net worth around the region of $4m to $4.5m including their properties. (Those whose wives are housewives would have less, probably $2.5m to $3m including their properties). Our main past time pre-occupation is to build up our passive income stream.

For the younger people out there, I would say be patient. Once you established your career, and your family, your net worth will continue to grow. When I was in my early 40s, my net worth (including my home) was just pushing $2m, less than that of the many young posters here. So if they continue to work and progress in their careers, they should be able to accumulate $5m-$6m by the time they reach 60.

My own take is property investment in tiny Singapore is a safe bet for the long run. There will be cycles, but the new peaks will be higher than previous ones due to population growth and inflation.

Originally Posted by Unregistered

Sorry to interrupt the flow but i noticed that lately, the last few posts were posted
by those in their 40s to 50s who talk about their properties and net worth and retirement plans. Most of you all have experienced the great appreciation of property prices in the last decade and the cash readily available to go into the stock market in 2009 and during the eurozone crisis, the era when you can buy multiple properties, make millions in banking.

I graduated in 2007, at the peak of the financial boom and whatever savings i have, bulk of which, will be used for my housing, reno, wedding (even more expenses for those who choose to have children). My question is, on behalf of those in their late twenties to early thirties, is it possible and how do you make millions again like our seniors in this forum who own multiple private properties going forward in sg?

Originally Posted by Unregistered

There are no condo next to the Hillview MRT station. All condos in the vicinity require you to walk in the open air (if it rains, you're doomed) to the Hillview MRT station. As for the 3 new condos mentioned, most likely they will have shuttle services that will bring their residents from the condos to the MRT station, in comfort and shelter. So, even though they are a bit further, you won't get drenched in rainy or hot weather.

Wrong. There are at least 3 condos (2 resale and one under construction) within 300m of the future Hillview MRT. Its an underground MRT, and the entrance/ exit locations are already known. The residents of the condos who have affected by the MRT construction already know the entrance/exit locations. Whatever the weather rain or sun, a short walk is no problem if the MRT is so near.

As for those who would need a shuttle bus from the MRT to their condo. A shuttle bus is good, but the constraint is the shuttle bus timing and frequency and having to plan your activities around the shuttle bus timing.

Starting to wonder if there are property agents of new D23 developments in this thread, who are biased and factually incorrect.

Originally Posted by Unregistered

Sorry to interrupt the flow but i noticed that lately, the last few posts were posted
by those in their 40s to 50s who talk about their properties and net worth and retirement plans. Most of you all have experienced the great appreciation of property prices in the last decade and the cash readily available to go into the stock market in 2009 and during the eurozone crisis, the era when you can buy multiple properties, make millions in banking.

I graduated in 2007, at the peak of the financial boom and whatever savings i have, bulk of which, will be used for my housing, reno, wedding (even more expenses for those who choose to have children). My question is, on behalf of those in their late twenties to early thirties, is it possible and how do you make millions again like our seniors in this forum who own multiple private properties going forward in sg?

We are not all that old. Just bold enough to buy before 2010, stingy enough not to fritter away our cash and fortunate to benefit from asset price appreciation due to our small island, mass immigration, foreign investment and a strong economy.

Some of my acquaintances in their 30s have multiple condos because they dared to buy before 2010 and are multimillionaires in assets today. But imagine if the financial crisis of 2008 continued they would be in deep trouble now instead of rich. The knife can cut both ways.

Moving forward, I have the same question as u. Would this great price appreciation continue ? My layman guess is no. Then, how can young people continue to build wealth safely and wisely today?

49, $150k pa. Wife, 40, $100k pa. Two small kids. Just bought a condo, costing us $1.5m. Drives a 2 year old German car. We are the average typical Singaporean family.

Originally Posted by Unregistered

Wrong. There are at least 3 condos (2 resale and one under construction) within 300m of the future Hillview MRT. Its an underground MRT, and the entrance/ exit locations are already known. The residents of the condos who have affected by the MRT construction already know the entrance/exit locations. Whatever the weather rain or sun, a short walk is no problem if the MRT is so near.

As for those who would need a shuttle bus from the MRT to their condo. A shuttle bus is good, but the constraint is the shuttle bus timing and frequency and having to plan your activities around the shuttle bus timing.

Starting to wonder if there are property agents of new D23 developments in this thread, who are biased and factually incorrect.

A lot of unsold new launch condo units in hillview, that why a lot agents lurking here

We are a retired couple in our 60s. Now living in a nicely renovated one bedroom condo unit. Debt free. We earn $70k pa of dividends from our stocks portfolio. We are financially independent. We spend about $50k pa and reinvest our savings into more stocks. Even though we are millionaires, we chose not to buy a car as we don't travel much. We get our groceries nearby, which is just a walking distance. We don't travel overseas much nowadays as we travelled a lot with our kids in our younger years. We've been to most touristy places around the world. We enjoy sitting by our condo pool every morning, reading the newspaper and relaxing. Sometimes we work out in the gym and swim.