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04-05-2014, 09:25 AM
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Low income family, early 50s. Annual income, $60k pa. HDB flat, bought many years ago, paid up. Now flat worth $350k. Cash/ CPF, $200k.
Like that how to retire? Gurus, please advise us.
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04-05-2014, 10:05 AM
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Aged mid40s, prop valn $4m, o/s loan $1.5m.2 kids 16 & 12
Cash $3m, annual income $300k. No shares held. Net worth inc insurance etc about $6m. Need advise for retirement planning. Thinking of paying off loan, and investing balance in property or high dividend yield shares. Any thoughts ?
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04-05-2014, 10:20 AM
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Quote:
Originally Posted by Unregistered
Aged mid40s, prop valn $4m, o/s loan $1.5m.2 kids 16 & 12
Cash $3m, annual income $300k. No shares held. Net worth inc insurance etc about $6m. Need advise for retirement planning. Thinking of paying off loan, and investing balance in property or high dividend yield shares. Any thoughts ?
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You can retire now. Sell everything and convert to RM, you will get RM15m. Being a multimillionaire in Malaysia, you can retire like a king. You can live in a mansion and employ 3 maids, one gardener and one driver.
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04-05-2014, 11:13 AM
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Quote:
Originally Posted by Unregistered
Low income family, early 50s. Annual income, $60k pa. HDB flat, bought many years ago, paid up. Now flat worth $350k. Cash/ CPF, $200k.
Like that how to retire? Gurus, please advise us.
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You can easily retire in Thailand, for $1k pm. So your assets can last you for many years in retirement.
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04-05-2014, 01:28 PM
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Hubby, 40, $65k pa.
Me, 45, $80k pa.
Home, 5 room HDB flat, valuation $538k, loan remaining $100k.
Small car, no loan.
One daughter, 15 years old.
Thinking of buying a condo in Malaysia for retirement. What do you think? Good idea or not? With the HSR, we can visit our daughter every 3 months.
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04-05-2014, 05:03 PM
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You can try retiring in Chiang Mai. Cost you only $1k pm to retire comfortably.
Just google "retire in Chiang Mai".
You already have got a lot of assets, if you compare with millions of people in the world.
Quote:
Originally Posted by Unregistered
Hubby, 40, $65k pa.
Me, 45, $80k pa.
Home, 5 room HDB flat, valuation $538k, loan remaining $100k.
Small car, no loan.
One daughter, 15 years old.
Thinking of buying a condo in Malaysia for retirement. What do you think? Good idea or not? With the HSR, we can visit our daughter every 3 months.
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04-05-2014, 06:08 PM
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Can you share more details on how you manage to accrue a net worth of $6m because the numbers don't add up. Even if you save your full salary of $300k pa for 20 yrs you will only have $6m. There is income tax to pay, home to buy, living expenses, car to buy etc...
Frankly if I am in your shoes, I wouldn't worry about retirement as I don't have any expenses.
Quote:
Originally Posted by Unregistered
Aged mid40s, prop valn $4m, o/s loan $1.5m.2 kids 16 & 12
Cash $3m, annual income $300k. No shares held. Net worth inc insurance etc about $6m. Need advise for retirement planning. Thinking of paying off loan, and investing balance in property or high dividend yield shares. Any thoughts ?
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04-05-2014, 06:41 PM
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We are both 48 years old, been married for 18 years and now have a son, aged 13. We are not top performers in our cohort, neither in school nor in our careers. I earn only $80k pa while my wife earns $70k pa. We bought our first HDB flat and still staying in it. We managed to pay off the mortgage as we bought at a low price direct from HDB.
Does anyone out there are in worse position as us? We are grads btw.
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04-05-2014, 06:44 PM
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Quote:
Originally Posted by Unregistered
Can you share more details on how you manage to accrue a net worth of $6m because the numbers don't add up. Even if you save your full salary of $300k pa for 20 yrs you will only have $6m. There is income tax to pay, home to buy, living expenses, car to buy etc...
Frankly if I am in your shoes, I wouldn't worry about retirement as I don't have any expenses.
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Accumulated mainly through flipping properties & businesses. I have expenses alright...kids related and also cars as well as o/s mortgage. I'm contemplating early retirement hence want to build passive income portfolio of property and/or stocks. Would like to hear what others would do in my situation.
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04-05-2014, 11:26 PM
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Everyone is earning big bucks here. I make only 80k pa and consider myself as low income.
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