How much are you earning per annum?

40, $95k pa. Wife, 45, $100k pa. We shifted to an EC last year after selling our BTO flat. We enjoy the condo facilities very much. Since we made profit from selling our BTO flat, our mortgage is not much. We drive an MPV. We are happy with our success, especially since we came from poor families. Our parents are proud that we are living in a condo.

Originally Posted by Unregistered

That's quite decent for a 38 year old. Have you finished paying your BTO mortgage? Is your wife is working and earning as much as you, your family income is more than $100k pa. You are in the middle income group.

Focus of paying off your BTO mortgage and start to save for your retirement, buy good blue chips for dividends. Do not buy a car as it is very expensive to own and maintain. You will be ok.

We are lucky that we get cheap BTO flats, no other country in the world will provide you with cheap BTO flats.

we have paid our mortgage loan. my wife is also working and earns 52k. Our salary is almost the same. we use public transport.

we both have started looking at saving for old age (or retirement). The only savings we have is in CPF special account. We have some cash savings and plan to invest but we both dont know much about this. Went to bank and they showed us another saving plan where we pay on a monthly basis and at the end of 15 years we get lumpsum with a bonus. For investments, they asked for high investment amount around 50k which is not possible for us.

we both are looking for small investments - safe but which will give us some returns. Is this what you meant by "buy good blue chips for dividends" ? How to go about?

To prove you know what you talking about, can you tell us what you paid in estate duty, how old you are, how much property tax you pay?

If you dont know what you are talking about, it is important you seek professional help.

Originally Posted by Unregistered

I'm the reverse of you. I earn 24k p.a. but drive a Mersarati after I'm off duty from taxi driving. Live in Sentosa Cove.

Was lucky as I won the $3.1 mil CNY Toto a few years back, and also received an inheritance of $5 mil when my previous employer, for whom I was a chauffeur, died. (The car was also bequeathed to me).

Small time business owner, in our early 50s. Earn $100k pa. We stay in a 4 room HDB flat, now worth $500k, finished paying mortgage.

Thinking of upgrading to a condo. Many of our friends now staying in condo and they like the condo facilities and privacy. They say also very safe. We have spare cash of $300k. If we sell our flat and use the cash, we can buy a $800k condo. Any comments or suggestions from gurus here? Thank you.

Don't blindly follow the crowd. 50+ is not considered young anymore to take on a major purchase. You didn't say how many children you have. If only just you and your wife then buying a small 2 bedroom or studio apartment may be adequate and your $800k could cover the cost. Otherwise $800k budget not enough to fully pay for a condo. Even HDB exec flats can cost more. Not wise to take on loans at a late age.

There are of course the advantages of owning and living in a condo. You will enjoy the privacy, exclusiveness, convenience of having facilities in the estate, and capital appreciation as well. But at 50+, you may not be able to fully enjoy the facilities like tennis, squash or basket ball, unless you are playing these kind of sports currently. The point is if you stay in a condo and don't enjoy the facilities, you are actually paying for others to enjoy them.

At 50+, you should start aiming to live a debt free life. That will be one big worry less from our complicated life.

Looking at your age and current income level which still qualifies you for new HDB flat application, I would strongly recommend that you don't buy into a condo lifestyle.

Originally Posted by Unregistered

Small time business owner, in our early 50s. Earn $100k pa. We stay in a 4 room HDB flat, now worth $500k, finished paying mortgage.

Thinking of upgrading to a condo. Many of our friends now staying in condo and they like the condo facilities and privacy. They say also very safe. We have spare cash of $300k. If we sell our flat and use the cash, we can buy a $800k condo. Any comments or suggestions from gurus here? Thank you.

28
local bank, 3 yrs exp.
94k p.a.

[tranhoangxd]

Excuse me,may i have a question?
Now base on wikipedia, i known that the GDP of singapore about 60000 USD = 80000 SGD
But now, I saw that so many people here have salary lower than 80K SGD. so i quite wondering for this matter?
Because i prepare to interview for a job in Singapore and they request have to suggest about your basic salary, but i don't know how much for this position? I'm a senior civil engineer?
Anyone can help me?

Originally Posted by tranhoangxd

Excuse me,may i have a question?
Now base on wikipedia, i known that the GDP of singapore about 60000 USD = 80000 SGD
But now, I saw that so many people here have salary lower than 80K SGD. so i quite wondering for this matter?
Because i prepare to interview for a job in Singapore and they request have to suggest about your basic salary, but i don't know how much for this position? I'm a senior civil engineer?
Anyone can help me?

GDP per capita is different from mean or median wage.

[tranhoangxd]

Originally Posted by Unregistered

GDP per capita is different from mean or median wage.

? really don't understand, can you tell me more about this?

Hey guys, is this annual salary 137000 (including bonus and car allowance etc) normal for my age (very extreme early 50s). I have masters from a local uni. Manage 20+ staff (used to be 40+). The industry im working at is very small. Recently got transferred to another place, a less prestigious department of the company, while people surrounding me got promoted. Quite demoralised since i worked there for 15+ years.