How much are you earning per annum?

Originally Posted by Unregistered

wow, almost double my salary!!!

what do you work as?
private or government?
how many time did you changed company? or is it still same 1st company?


I am just an engineer with local semi-government company...still with my 1st company.

I am also interested to find out what position he is holding now.

now 30 yrs old, started working dec 2009. approximately $70kpa.

We are a low income graduate couple in our mid 40s, earning a combined income of only $169k. Living in an old condo worth $900k currently, bought it at $500k in 2006, still paying loan.

I think we are the lowest paid graduate couple in our age group.

Do you know of any working graduate couples in our age group earning less than us?

Originally Posted by Unregistered

wow, almost double my salary!!!

what do you work as?
private or government?
how many time did you changed company? or is it still same 1st company?


I am just an engineer with local semi-government company...still with my 1st company.

U working in ST Electronics?

Mid 40s mean that both of you still got promotional opportunities. So just work on.

As you did not say how the $169k is divided between you and spouse, I will assume both of you earn equally at $85k pa or $5.7k pm (assuming 2 months bonus and 13th month pay).

$5.7k pm is low for a mid 40 grad.

While good pay is important, other important factors are work life balance and nature of job. Also if your expense is only $100k pa (like mine) you will be able to save $69k every year. Better than a couple earning $250k pa but can only save $50k.

Originally Posted by Unregistered

We are a low income graduate couple in our mid 40s, earning a combined income of only $169k. Living in an old condo worth $900k currently, bought it at $500k in 2006, still paying loan.

I think we are the lowest paid graduate couple in our age group.

Do you know of any working graduate couples in our age group earning less than us?

Indeed we are low income. We are ashamed of ourselves.

We are thinking of selling our condo as we feel we dont deserve staying in it since we are low income couple. If we sell at $900k and then pay off the mortgage of $300k left, we will then get $600k. We can then buy a 3 room HDB flat at $300k and pay in cash. We will then have $300k to invest in stocks which can give us 5% dividend yield or $15k pa. Then our income can increase to $184k pa. By staying in HDB flat, we can also get rebates for utilities which mean we spend less.

So by selling our condo and living in a 3 room HDB flat (plus investing), we can increase our current savings of $80k pa to $100k pa. If we sell our car and take public transport, we can save $118k pa.

Is this a good idea? What do you think?

Originally Posted by Unregistered

Mid 40s mean that both of you still got promotional opportunities. So just work on.

As you did not say how the $169k is divided between you and spouse, I will assume both of you earn equally at $85k pa or $5.7k pm (assuming 2 months bonus and 13th month pay).

$5.7k pm is low for a mid 40 grad.

While good pay is important, other important factors are work life balance and nature of job. Also if your expense is only $100k pa (like mine) you will be able to save $69k every year. Better than a couple earning $250k pa but can only save $50k.

Originally Posted by Unregistered

Indeed we are low income. We are ashamed of ourselves.


We are thinking of selling our condo as we feel we dont deserve staying in it since we are low income couple. If we sell at $900k and then pay off the mortgage of $300k left, we will then get $600k. We can then buy a 3 room HDB flat at $300k and pay in cash. We will then have $300k to invest in stocks which can give us 5% dividend yield or $15k pa. Then our income can increase to $184k pa. By staying in HDB flat, we can also get rebates for utilities which mean we spend less.

So by selling our condo and living in a 3 room HDB flat (plus investing), we can increase our current savings of $80k pa to $100k pa. If we sell our car and take public transport, we can save $118k pa.

Is this a good idea? What do you think?

If you are already feeling lousy about yourself, will downgrading to a 3 room HBD flat make you feel worse?

Why do you feel that you don't deserve to stay in a condo? Are you in financial difficulties?There are so many families with only enough to get by.... Don't shortchange yourself as you only have 1 life to live....be positive.

Originally Posted by Unregistered

Indeed we are low income. We are ashamed of ourselves.

We are thinking of selling our condo as we feel we dont deserve staying in it since we are low income couple. If we sell at $900k and then pay off the mortgage of $300k left, we will then get $600k. We can then buy a 3 room HDB flat at $300k and pay in cash. We will then have $300k to invest in stocks which can give us 5% dividend yield or $15k pa. Then our income can increase to $184k pa. By staying in HDB flat, we can also get rebates for utilities which mean we spend less.

So by selling our condo and living in a 3 room HDB flat (plus investing), we can increase our current savings of $80k pa to $100k pa. If we sell our car and take public transport, we can save $118k pa.

Is this a good idea? What do you think?

Despite your "low" income (In inverted commas, as I don't think it's low), you still have an asset that can help you beat inflation and has potential to appreciate.
Sell it and you end up killing your golden goose.
Keep it if you can afford to service it. It's 2/3s paid for already anyway!

Originally Posted by Unregistered

If you are already feeling lousy about yourself, will downgrading to a 3 room HBD flat make you feel worse?

Why do you feel that you don't deserve to stay in a condo? Are you in financial difficulties?There are so many families with only enough to get by.... Don't shortchange yourself as you only have 1 life to live....be positive.

Maybe you're right. Downgrading to public housing will make me feel worse. It will only confirm I am a failure. I feel lousy when I read the younger forumers here earning $150k pa per person and their household income is $300k - $500k.

I'm not in financial difficulties, just feel lousy when comparing with others.

Originally Posted by Unregistered

Despite your "low" income (In inverted commas, as I don't think it's low), you still have an asset that can help you beat inflation and has potential to appreciate.
Sell it and you end up killing your golden goose.
Keep it if you can afford to service it. It's 2/3s paid for already anyway!

You have a point there. My condo will appreciate or go for enbloc. I should focus on paying down the mortgage then. In 20 years time, I can sell and retire somewhere cheaper.

Any ideas where is the best place to retire?

Malaysia?
Thailand?
China?
Australia?
NZ?
Philippines?
Cambodia?

Are you for real or just leading people on?

Dont you think 20 years is a long way to go? In 20 years who knows what will happen? Who knows whether the cost of living in neighbouring countries will catch up or surpass that of Singapore?

Originally Posted by Unregistered

You have a point there. My condo will appreciate or go for enbloc. I should focus on paying down the mortgage then. In 20 years time, I can sell and retire somewhere cheaper.

Any ideas where is the best place to retire?

Malaysia?
Thailand?
China?
Australia?
NZ?
Philippines?
Cambodia?