How much are you earning per annum?

Good for you, old man. Keep it up.

I have also been working hard and investing my big bonuses for many years. Now, at 45, I am financially independent and retired. My passive income is greater than my household expenses. My wife actually don't have to work but she, at 38, still enjoy her work and working happily. I support her choice while I continue to grow my portfolio and dividends from home. Working from home without the pressure to answer to anybody except yourself feels great. I also have the time to enjoy my penthouse and my condo's facilities.

Originally Posted by Unregistered

It is indeed nice (actually very nice) to have money coming in without having to work for it. Everyone dreams of it, but to achieve an adequate amount on a persistent basis is something else.

John D Rockefeller was quoted as saying "Do you know the only thing that gives me pleasure? It's to see my dividends coming in."

Although there are other things that can give me pleasure, I must say seeing my passive income growing ranks high on the list. Let me recount my passive income journey.

I got married 2 years after I started work. With both of us working, we managed to scrimp and save $100k within 4 years. All our bonuses went into it. At that time, interest rates from FDs were still decent at 4%. We were so pleased with the $4K interest earned that we volunteered to host the annual gathering for our extended families for that year. That was our first taste of "passive income". It felt good.

As our income and savings grew, we started buying blue chip stocks. It opened up a new world of passive income for us. As young and rather inexperienced investors, we were very cautious and bought only blue chips. We also dare not trade, what we bought we kept. After a further 5 years, we were getting close to $10k of dividends and interests (from FDs) combined. We were ecstatic. The $10k helped to pay our car road tax, insurance, parking, maintenance and petrol with enough left for short holidays to Malaysia.

Fast foward another 5 years, we switched most of our FDs into stocks encouraged by the steady dividends payout as well as the rapidly declining interest from FDs. We bought more dividend stocks. The dividend payout grew to $20K! That was more than enough to fund our vacation to Europe for a family of four.

5 years ago, our dividend income plateaued at around $40K (about 5% of our investments in stocks). We decided that it was time to diversify our investment to spread the risks, instead of pumping more into stocks. We bought an investment property for rental income. That added another $45K (gross rental income) to our passive income stream.

Today, together with the interest from our CPF of about $25K, we got $110k pa total in passive income. And we used it to buy a new jap car!

When we reach 65, we should get another $28K from the Annuity Life payout.

38/43 - 3 house - 2 condo 1 hdb. 2 kids. combine $400k pa. 2 cars. left one condo with $700k to pay. All 3 house appreciate 100% , bought in 2004, 2005 n 2011.
passive income $200k pa - stocks divdend, rents,money market.

Originally Posted by Unregistered

38/43 - 3 house - 2 condo 1 hdb. 2 kids. combine $400k pa. 2 cars. left one condo with $700k to pay. All 3 house appreciate 100% , bought in 2004, 2005 n 2011.
passive income $200k pa - stocks divdend, rents,money market.

This is clearly BS.

No property appreciated by 100% between 2011 and 2013. The market peaked in Dec 2013 and now falling.

So many people just ********ting in this forum

Originally Posted by Unregistered

So many people just ********ting in this forum

yup, the guy who claim getting passive income of $110k pa is BS, those who claim earning $200k pa or more is BS, many BS. Most families have combined income of $100k or less.

this forum is a joke where people come here to bullsh*t since everyone is unregistered.

I suspect there's one or two people who keep boasting the high incomes, high passive income, retire by 45, Singapore is a great place to retire etc....

Originally Posted by Unregistered

this forum is a joke where people come here to bullsh*t since everyone is unregistered.

I suspect there's one or two people who keep boasting the high incomes, high passive income, retire by 45, Singapore is a great place to retire etc....

I think those postings are more of their dream income rather than real income.

I agree there are many people here fantasizing of high income, high net worth, high passive income, etc. The reality is - many, like me, earn a modest income. As a couple, my wife and I earn a total of only $100k pa, we are in our early 40s. We own a HDB flat, which we are still servicing mortgage for and we don't own a car. We spend a lot on our kids, for their tuition, enrichment classes, etc. We give the best for our kids. As a family, we save and don't spend on wasteful things.

You really think that there are not many rich people here? How do you explain the many condos being sold, many cars sold even as the COE got reduced and loans get tightened?

I don't know which age group you belong to, but for those grads who are now in their late 40s or fifties, their incomes should be $150k or more. You get two married to each other, and you are looking at a combined income of $300k. Assuming they lead typical Singaporean lifestyle these dual income families can easily save $200k pa. In 5 years, they could buy a condo and pay in full.

Originally Posted by Unregistered

yup, the guy who claim getting passive income of $110k pa is BS, those who claim earning $200k pa or more is BS, many BS. Most families have combined income of $100k or less.

When it comes to anonymous postings, there's no need to even try to believe even if the postings were true. Just read them for amusement.

Claims of high net worth may seem unbelievable unless one moves in the circle of high net worth people.

For eg. the poster who congratulated the other poster on achieving the $110k pa passive income is more than aware that such passive income amount is attainable, having achieved such returns himself.

For those non believers, I would like to suggest paying a visit other websites where Singaporean bloggers share tips on how to achieve financial freedom.

I cannot convince you more.