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How much are you earning per annum?

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  #4451 (permalink)  
Old 27-05-2014, 01:13 PM
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Low income grad couple, 42/43, earning only $140k pa in total.
Home is a condo, bought in 2005 for $450k, now worth only $900k, mortgage left $200k.
Own an old car, COE ending soon, may not drive after COE ends, will just taxi public transport.

When we retire, we will most likely sell our condo and downgrade to a 2 room HDB flat and use the cash balance to invest in high dividend yield stocks to get passive income.

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  #4452 (permalink)  
Old 27-05-2014, 04:15 PM
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You're earning a lot. Why not upgrade your social status by upgrading to a condo? Condo nowadays are getting cheaper. You can get a big condo for only $1.5m. You have enough CPF and cash to pay in full after you sell your flat. You will feel a lot better after you upgrade.


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Originally Posted by Unregistered View Post
I'm 47 earning 160k/pa, wife age 43 earning 59k/pa.
Have 2 schooling children.
Stayed in fully paid 4 rm HDB which worth around $440k
CPF has around 700k combine
Cash on hand around 600k
Yearly expenditure not much, estimated around 60k


Sadly, i do not have any passive income except those mere 1% interest getting from my cash on hand, which is really not much.

I'm envy to those successful ppl who can get passive income of 100k and above, i will be happy if I can get 50k/pa eventually. Wanted to invest in blue chip / REIT and get dividends but not sure where to get started.

If you have any book or tips how to get started in investing stock and get dividend, I'm all ears.

Thanks


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  #4453 (permalink)  
Old 27-05-2014, 05:56 PM
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You must be grateful for what you have. Not many people can afford to live in a condo. 85% of Singaporeans live in HDB flats, so you are the lucky few. Don't worry too much about your retirement. When the time comes, you can buy a studio HDB flat for the elderly and cash out your condo. While you are still young, enjoy condo living and make the best use of the condo facilities. When you are old, you no longer can enjoy the facilities so you are better off staying in a studio HDB flat for the elderly which only cost $70k. After you cash out your condo, you can have $1m cash or more to spend during your retirement.


Quote:
Originally Posted by Unregistered View Post
Low income grad couple, 42/43, earning only $140k pa in total.
Home is a condo, bought in 2005 for $450k, now worth only $900k, mortgage left $200k.
Own an old car, COE ending soon, may not drive after COE ends, will just taxi public transport.

When we retire, we will most likely sell our condo and downgrade to a 2 room HDB flat and use the cash balance to invest in high dividend yield stocks to get passive income.

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  #4454 (permalink)  
Old 27-05-2014, 09:36 PM
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Quote:
Originally Posted by Unregistered View Post
You're earning a lot. Why not upgrade your social status by upgrading to a condo? Condo nowadays are getting cheaper. You can get a big condo for only $1.5m. You have enough CPF and cash to pay in full after you sell your flat. You will feel a lot better after you upgrade.
Bro indeed I've been thinking of upgrading to condo, but condo price is sliding so may want to wait a little more (yap, my HDB price is sliding too).

Been looking at a few recently TOP units at bukit timah, still price around 1.3m for unit size around 1100sqf (similar size to my 4rm hdb, but cost 3 times more).

I've to be cautious about this as if I buy condo, i may use up a large sum of my CPF and cash saving...which means i will not have much cash for investment / passive income.

Are my concerns justifiable?
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  #4455 (permalink)  
Old 27-05-2014, 10:18 PM
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Quote:
Originally Posted by Unregistered View Post
Bro indeed I've been thinking of upgrading to condo, but condo price is sliding so may want to wait a little more (yap, my HDB price is sliding too).

Been looking at a few recently TOP units at bukit timah, still price around 1.3m for unit size around 1100sqf (similar size to my 4rm hdb, but cost 3 times more).

I've to be cautious about this as if I buy condo, i may use up a large sum of my CPF and cash saving...which means i will not have much cash for investment / passive income.

Are my concerns justifiable?
you think cpf is yours?
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  #4456 (permalink)  
Old 27-05-2014, 10:54 PM
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why are you looking at bukit timah condos? go for cheaper ones, condos in the CCK and bukit panjang areas are much cheaper. you can get a big unit for less than $1m.


Quote:
Originally Posted by Unregistered View Post
Bro indeed I've been thinking of upgrading to condo, but condo price is sliding so may want to wait a little more (yap, my HDB price is sliding too).

Been looking at a few recently TOP units at bukit timah, still price around 1.3m for unit size around 1100sqf (similar size to my 4rm hdb, but cost 3 times more).

I've to be cautious about this as if I buy condo, i may use up a large sum of my CPF and cash saving...which means i will not have much cash for investment / passive income.

Are my concerns justifiable?
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  #4457 (permalink)  
Old 28-05-2014, 02:40 AM
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24 years old. Just offered a job 71.5k sgd per annum (this includes aws 13th month) plus potential variable bonus (???))

Any advise whether i shld take up this offer?

Btw can anyone advise where to find the stats of 2013 spore median salary?
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  #4458 (permalink)  
Old 28-05-2014, 11:51 AM
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45, $50k pa.
i'm happy because i still have an income.
there are people who has no income.
live life below your means.
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  #4459 (permalink)  
Old 28-05-2014, 12:27 PM
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Our cpf system is a good system. i am now able to own a nice hdb flat. without the cpf, most people will just spend their money on smoking, drinking, gambling (just look at the long queues), womanising.
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  #4460 (permalink)  
Old 28-05-2014, 05:52 PM
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50, sole breadwinner, $130k pa. Savings, $30k pa.
Condo, worth $1.1m, paid up. Car, paid up.
Total net worth (condo/cash/cpf), $1.4m.

Can any guru here advise how my spouse and I can retire comfortably when we reach 60?
How much do we need per month to retire (very simple lifestyle)?
Thanks.
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