How much are you earning per annum?

Originally Posted by Unregistered

If you plan to live simply, then why live in a condo? anything also can if you eat and live very simply, no restaurant, no travel, no shopping.

Pray hard hard you don't get sick, don't get sacked, interest don't go up up up, property prices don't drop!

Living in a condo is the best thing you can do after working your life so hard. It gives you prestige and status as well as the convenience of a private swimming pool, gym, tennis court and club house. If you own a condo, you have indeed ARRIVED.

My BIL had the same experience. He used to be a high flyer in a company but left due to toxic office politics. But he was prepared. He bought in his semi D many years ago which he bought cheap. So when he left he sold it for a big profit, he then downgraded to a penthouse unit. He had cash balance after all the transactions. He then invested in high dividend yield stocks and now earn enough passive income for his family. His wife's income supplements his passive income. Now he is actively investing and generate good income from his investments. He is a smart guy. I always seek his views on investements and he has been right almost all the time.

Originally Posted by Unregistered

This is good advice. I myself can attest to this. I lost my job last year and sold my landed property for $2m and downgraded to a Bukit Timah condo, paying $1.2m in full. I am now debt free. I also sold my German car and stopped employing a maid. I could not get a replacement full time job and now do some contract work, earning only $60k pa. Luckily my spouse is still working, earning $90k pa. We manage to survive by managing our expenses. We manage to cut our expenses to a minimal $100k pa. We now only save a meagre $50k pa, a far cry from our past annual savings. Life is tough in this modern world.

Originally Posted by Unregistered

Living in a condo is the best thing you can do after working your life so hard. It gives you prestige and status as well as the convenience of a private swimming pool, gym, tennis court and club house. If you own a condo, you have indeed ARRIVED.

Yes, living on $5K income a month in a condo is indeed prestigious and many will envy you. Clap, Clap.

Originally Posted by Unregistered

...condo gives you prestige and status... If you own a condo, you have indeed ARRIVED.

Few years back, people will admire you. But now, people will laugh when they hear this....

Originally Posted by Unregistered

Living in a condo is the best thing you can do after working your life so hard. It gives you prestige and status as well as the convenience of a private swimming pool, gym, tennis court and club house. If you own a condo, you have indeed ARRIVED.

another shortsighted CLOWN.

Originally Posted by Unregistered

another shortsighted CLOWN.

Ya... He will likely earn this eulogy "proud owner of Private Condo"....

There are so many green eyed monsters in this forum ... LOL

Originally Posted by Unregistered

There are so many green eyed monsters in this forum ... LOL

Can't believe there are actually such foolish clowns in this forum.

Married professional couple, 40/41, makes a combined income of $220k pa. Expenses, $180k pa. Expenses include condo mortgage, car loan payments, car petrol, tax, insurance and maintenance, groceries, utilities, life and health insurance, parents allowances, fine dining, luxury goods purchases, top end childcare and tuition for kids, maid levy and salary, luxury holidays twice a year, income taxes, etc.

We lead a high class lifestyle. We hope to enjoy our high class lifestyle as long as we can while we are still young and energetic. When we retire at 65, we will lead a simpler life without no maid, car, etc. By then our kids would have been married and staying on their own. We will downgrade to a small studio condo and live off our savings and cpf life during our retirement.

Originally Posted by Unregistered

Married professional couple, 40/41, makes a combined income of $220k pa. Expenses, $180k pa. Expenses include condo mortgage, car loan payments, car petrol, tax, insurance and maintenance, groceries, utilities, life and health insurance, parents allowances, fine dining, luxury goods purchases, top end childcare and tuition for kids, maid levy and salary, luxury holidays twice a year, income taxes, etc.

We lead a high class lifestyle. We hope to enjoy our high class lifestyle as long as we can while we are still young and energetic. When we retire at 65, we will lead a simpler life without no maid, car, etc. By then our kids would have been married and staying on their own. We will downgrade to a small studio condo and live off our savings and cpf life during our retirement.

I don't see any high class lifestyle mentioned with such middle-high income.

Did you say luxury holiday twice a year? With parents, yourself, wife, 1 child and 1 maid. Each will cost $5k per trip. 6 persons x $5k = S$30k, Twice a year will be S$60k. Are you sure?

Your child will probably inherit the so call “high class lifestyle” from you, good luck to you. If you manage to retire at 65, hope your small studio will be near to some coffee shop, you will need to adapt a totally lifestyle change, it could be painful when it comes.

Btw, your figures just don't made sense....I am financial planner.