How much are you earning per annum?

You are still young and have much buffer.

I suggest to grow your wealth even faster, you could try forex trading.

Otherwise try betting some in the casino once a week. Each time limit to $100K losses and take profit at $50K.

I am sure you would multiply your net worth by twice in 2 years time.

Originally Posted by Unregistered

My situation is v similar to yours. Late 30s as well, 2 youg kids as well, live in 5-rm hdb flat as well, driving a 6-yr 2.4L MPV. Both HDB and car paid up too.

Combined annual income around 750k and networth 4.3m.
Can save around 65% as we keep a frugal lifestyle.
Our goal is to achieve financial freedom asap and ensure we don't become financial burden to our kids when we grow old.
Welcome any comments to how to grow our wealth even faster..

I hope your income is all through honest hard work (what is it you are working in) and that you are making useful and meaningful contribution to society.

Because at the end of the day, you answer to yourself and your maker. You have to be true to yourself.

Originally Posted by Unregistered

My situation is v similar to yours. Late 30s as well, 2 youg kids as well, live in 5-rm hdb flat as well, driving a 6-yr 2.4L MPV. Both HDB and car paid up too.

Combined annual income around 750k and networth 4.3m.
Can save around 65% as we keep a frugal lifestyle.
Our goal is to achieve financial freedom asap and ensure we don't become financial burden to our kids when we grow old.
Welcome any comments to how to grow our wealth even faster..

Originally Posted by Unregistered

My situation is v similar to yours. Late 30s as well, 2 youg kids as well, live in 5-rm hdb flat as well, driving a 6-yr 2.4L MPV. Both HDB and car paid up too.

Combined annual income around 750k and networth 4.3m.
Can save around 65% as we keep a frugal lifestyle.
Our goal is to achieve financial freedom asap and ensure we don't become financial burden to our kids when we grow old.
Welcome any comments to how to grow our wealth even faster..

In order to improve your savings, you may want to sell your HDB flat and downgrade to a 2 room flat. You can then grow your net worth to $10m faster. Only then can you retire. With $10m you can then retire. $750k pa as a couple is actually not that much. There are people who alone earn $1m pa. As a couple they earn maybe $3m or $4m pa.

Originally Posted by Unregistered

My situation is v similar to yours. Late 30s as well, 2 youg kids as well, live in 5-rm hdb flat as well, driving a 6-yr 2.4L MPV. Both HDB and car paid up too.

Combined annual income around 750k and networth 4.3m.
Can save around 65% as we keep a frugal lifestyle.
Our goal is to achieve financial freedom asap and ensure we don't become financial burden to our kids when we grow old.
Welcome any comments to how to grow our wealth even faster..

Obviously you are a big liar. If you said you live frugally and yet you spend 35% of $750k pa, that means you spend $262k pa. Do you know that means your frugal lifestyle is actually a lavish lifestlye? You must be going to restaurants every night? Supid liar. LOL.

Admin, please delete the liar's post.

Don't be ridiculous lah. Rich people got rich because their property prices appreciate with time. So he should upgrade to a private property rather than downgrade. However since his current net worth is only $4.3m at the moment, he can only afford a condo at best.

He is in the upper middle class income group, so don't compare him in the high income group.

I thought he raised a real concern. And that is how to maintain, if not grow, his current net worth. A common concern for all us.

Originally Posted by Unregistered

In order to improve your savings, you may want to sell your HDB flat and downgrade to a 2 room flat. You can then grow your net worth to $10m faster. Only then can you retire. With $10m you can then retire. $750k pa as a couple is actually not that much. There are people who alone earn $1m pa. As a couple they earn maybe $3m or $4m pa.

All sour grapes. U all should focus on how i got to such a salary and where my expenses go.

Couple, early 40s, combined income, $150k pa. Lives in a luxury condo, fully paid up. Drives a luxury car, fully paid up. Goes to holidays twice a year. Life is good and luxurious.

Originally Posted by Unregistered

We have worked for 30 years and hence decided to retire last year. So we sold our landed property and downgraded to a smaller 3 bedroom condo. We use the sales proceeds of the landed to pay off the outstanding mortgage and to buy the condo paid in full. After these transactions we have $1m in cash. Together with our cash savings we invested $1.5m and get $75k pa in investment dividends. Since we are debt free, our spendings is $60k pa. We love our life now as we have time to exercise in the condo gym and swimming pool.

You have a buffer of $15k pa. Quite risky as you have 1 income stream. What happens if dividends are down for a year or two? My plan includes rental income stream, for diversification.

Originally Posted by Unregistered

Your combined pay is quite decent. Buying a condo for rental is not a good idea as there is oversupply and prices are falling. Your condo may not be able to be rented out due to the oversupply. HDB prices are also falling. So it is best you sell your HDB flat now at its peak price and buy the condo which has gone down. You can sell your flat at $800k and buy a condo at $900k. And pay off the $100k in cash or CPF.

How much is your savings now? What's your combined net worth?

? How many 5rm hdb can sell for 800k?
And where can you find a condo for 900k that can fit a family of 4 or similar size to a 5rm hdb?

Originally Posted by Unregistered

Couple, early 40s, combined income, $150k pa. Lives in a luxury condo, fully paid up. Drives a luxury car, fully paid up. Goes to holidays twice a year. Life is good and luxurious.

Also couple, early 40s, combined income $400k pa. Lives in an old 3 bedder condo, fully paid up. Drives an old Jap car going to expire COE, fully paid up. Goes to holidays once a year only. Life is frugal and saving for retirement with simple life.