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How much are you earning per annum?

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  #4491 (permalink)  
Old 30-05-2014, 10:47 PM
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I'm 43, $90k pa. Wife, 40, $80k pa.
I take care $70k of expenses, wife takes care $50k of expenses.
I save $20k pa, wife saves $30k pa.
We live in a condo, $1m. Mortgage outstanding, $300k. We share the monthly mortgage payments.
We own a car, I takes care the car loan and all car related expenses.
Wife takes care of groceries.
Our combined net worth, including condo, is $1.2m.

Any comments how are we doing financially? Are we among the bottom 20% of graduate couples cohort?

How can we retire at 60?

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  #4492 (permalink)  
Old 30-05-2014, 11:11 PM
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Quote:
Originally Posted by Unregistered View Post
I'm 43, $90k pa. Wife, 40, $80k pa.
I take care $70k of expenses, wife takes care $50k of expenses.
I save $20k pa, wife saves $30k pa.
We live in a condo, $1m. Mortgage outstanding, $300k. We share the monthly mortgage payments.
We own a car, I takes care the car loan and all car related expenses.
Wife takes care of groceries.
Our combined net worth, including condo, is $1.2m.

Any comments how are we doing financially? Are we among the bottom 20% of graduate couples cohort?

How can we retire at 60?
Median couple. So so only. I alone earn wat you couple earn.

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  #4493 (permalink)  
Old 31-05-2014, 09:33 AM
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Median couple. So so only. I alone earn wat you couple earn.
You and your wife must be very rich, maybe earning $400k pa. Are you now staying in a bungalow at Bukit Timah or Nassim?

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  #4494 (permalink)  
Old 31-05-2014, 10:01 AM
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You are doing well as you can afford to live in a condo. Only the top 15% live in a private property. There are grads who cannot afford a condo and are still living in HDB flats. You are very lucky indeed.


Quote:
Originally Posted by Unregistered View Post
I'm 43, $90k pa. Wife, 40, $80k pa.
I take care $70k of expenses, wife takes care $50k of expenses.
I save $20k pa, wife saves $30k pa.
We live in a condo, $1m. Mortgage outstanding, $300k. We share the monthly mortgage payments.
We own a car, I takes care the car loan and all car related expenses.
Wife takes care of groceries.
Our combined net worth, including condo, is $1.2m.

Any comments how are we doing financially? Are we among the bottom 20% of graduate couples cohort?

How can we retire at 60?
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  #4495 (permalink)  
Old 31-05-2014, 12:51 PM
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I see a lot of people here discussing on retirement. I don't understand why so difficult to retire? I don't see any problems retiring and I'm already prepared. My retirement plan is simple. I now own a 5 room exec flat which I paid up. When I retire at 65, I will rent it out for $4k pm or $48k pa. My wife and I will also get $1.2k each pm from our CPF life. So we get $28.8k pa. In total our passive income is $76,800 pa. We plan to retire in Malacca, so after converting to RM, we will get RM200k pa. We will retire in luxury with this amount of money. See, so simple to retire.
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  #4496 (permalink)  
Old 31-05-2014, 01:43 PM
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Originally Posted by Unregistered View Post
We're a couple in our mid-30s with 2 very young kids. We drive a Jap car. Condo fully paid-up: $4.5M. Our combine income = $160k/yr (include all bonuses etc.) $300K cash.

Most assets, be it cash/properties, was handed down to my wife by her late parents.

Passive income:
1. 2nd condo ($1.6M ~ loan fully serviced by rent of $4K/mth) = $0 income
2. shophouse ($2M+) = $9K/mth
3. $700K shares = $1-2K/mth (estimate, never count returns as shares were inherited)
You are very lucky to have married your wife. Her inheritance is probably throwing off more than your combined earned income. Guard the inheritance wisely.
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  #4497 (permalink)  
Old 31-05-2014, 03:11 PM
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Indeed, our hdb flats are our valuable assets. Our home ownership and asset enhancement policy is a big success. Without our hdb flat, it would be more difficult to retire in luxury in Malaysia. I plan to retire in Penang next year using your strategy. I will rent out my flat. I don't have to wait until 65 as I already have dividends of $30k pa. I'll be 56 next year. My kids are both independent now.


Quote:
Originally Posted by Unregistered View Post
I see a lot of people here discussing on retirement. I don't understand why so difficult to retire? I don't see any problems retiring and I'm already prepared. My retirement plan is simple. I now own a 5 room exec flat which I paid up. When I retire at 65, I will rent it out for $4k pm or $48k pa. My wife and I will also get $1.2k each pm from our CPF life. So we get $28.8k pa. In total our passive income is $76,800 pa. We plan to retire in Malacca, so after converting to RM, we will get RM200k pa. We will retire in luxury with this amount of money. See, so simple to retire.
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  #4498 (permalink)  
Old 31-05-2014, 04:00 PM
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Quote:
Originally Posted by Unregistered View Post
Indeed, our hdb flats are our valuable assets. Our home ownership and asset enhancement policy is a big success. Without our hdb flat, it would be more difficult to retire in luxury in Malaysia. I plan to retire in Penang next year using your strategy. I will rent out my flat. I don't have to wait until 65 as I already have dividends of $30k pa. I'll be 56 next year. My kids are both independent now.
Congratulations!
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  #4499 (permalink)  
Old 31-05-2014, 05:08 PM
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Quote:
Originally Posted by Unregistered View Post
I see a lot of people here discussing on retirement. I don't understand why so difficult to retire? I don't see any problems retiring and I'm already prepared. My retirement plan is simple. I now own a 5 room exec flat which I paid up. When I retire at 65, I will rent it out for $4k pm or $48k pa. My wife and I will also get $1.2k each pm from our CPF life. So we get $28.8k pa. In total our passive income is $76,800 pa. We plan to retire in Malacca, so after converting to RM, we will get RM200k pa. We will retire in luxury with this amount of money. See, so simple to retire.
Actually, there are many families who already retire in JB. They do exactky what you said. They don't need to so much. If they rent out their flat at $3k pm or $36k pa, they can get RM93k pa, which is big money in JB.

There is a doctor in this forum already going to retire in JB and she is only 35 years old I think.
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  #4500 (permalink)  
Old 31-05-2014, 09:29 PM
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Default HahahHAAA

Quote:
Originally Posted by Unregistered View Post
Actually, there are many families who already retire in JB. They do exactky what you said. They don't need to so much. If they rent out their flat at $3k pm or $36k pa, they can get RM93k pa, which is big money in JB.

There is a doctor in this forum already going to retire in JB and she is only 35 years old I think.
HaHaHAAAAAA

So many clowns in this forum!
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