How much are you earning per annum?

i am 43 yrs old earning 220k/pa and my wife 38 yrs old earning 160k/pa. Both myself and wife works in MNC. Having 2 condo and 1 3bedroom hdb. Rent out 1 condo n HDB , rental yield abt $100k/pa. Stocks investment est $50k/pa dividends.

2 kids , how to retire successfully ?

Thanks

Originally Posted by Unregistered

I am now about 38, married with one kid. Combined income about 460k from work and another 100k from rental.

Have a landed property, two condominiums, one in the east where I live and a freehold one at Robertson Quay all rented out. I also have a property in Vietnam and half a share of a industrial property that I rent out.

Currently, I am up 4.7mio based on my savings and assets less the loans that I took. The loans are going to take a very long time to clear. But plausible if I save a bit more.

I don't really care what I spend anymore, but will clear about 220k a year on all the odds and ends including about 1 holiday every month or so, with at least one to Europe and one to Japan.

On retirement, hoping to be able to pay everything off and live on just the rental. That should work out to approximately 16k a month assuming that nothing goes wrong.

Fingers crossed that this still remains intact but we never know.

you are in the middle income group

46/47, $210k pa in total.
Spending,$180k pa.
Supports both parents financially (we are only child on both sides).
We live humbly, our expenses include paying for mortgage, car, kids' tuition and enrichment, holidays nearby, maid, food, life and medical insurance, etc.
Home, condo worth $1.2m.
Our net worth is $1.9m in total.
How are we doing financially? Can we afford to retire at 60?

Originally Posted by Unregistered

46/47, $210k pa in total.
Spending,$180k pa.
Supports both parents financially (we are only child on both sides).
We live humbly, our expenses include paying for mortgage, car, kids' tuition and enrichment, holidays nearby, maid, food, life and medical insurance, etc.
Home, condo worth $1.2m.
Our net worth is $1.9m in total.
How are we doing financially? Can we afford to retire at 60?

From the HH income(above 100k), i think most of them need not worry too much, it is just the type of retirement life that bother them, u guys are ain't the real trouble group in Singapore.

Originally Posted by Unregistered

From the HH income(above 100k), i think most of them need not worry too much, it is just the type of retirement life that bother them, u guys are ain't the real trouble group in Singapore.

How to make everybody look like poor man? Just surround them with all the richer ones, and tell them they need to work till their death.

Originally Posted by Unregistered

i am 43 yrs old earning 220k/pa and my wife 38 yrs old earning 160k/pa. Both myself and wife works in MNC. Having 2 condo and 1 3bedroom hdb. Rent out 1 condo n HDB , rental yield abt $100k/pa. Stocks investment est $50k/pa dividends.

2 kids , how to retire successfully ?

Thanks

with combined 150k passive income pa and you asked how to retire????

Originally Posted by Unregistered

you are in the middle income group

You know, I can quite agree with you. Even though the Household income theorectically is approximately at the 95% of Singapore incomes, I don't feel very well off and have to look at my accounts very carefully every month. I am also not secure that I can live well at retirement.

I can't imagine living on less and yet I see the rest of my friends, they seem to be better off for some reason. Alas, I am quite sad that this is the case, but Cie La Vie.

I am living the Singapore Dream. I came from a low middle income family, studied very hard and got into top schools and uni. Got good jobs, high salary and bonuses and genius at investing. After many years of successful investing, was able to quit my full time job to focus on full time trading and investing at a young age of 43. Now, I am 45, cleared my luxury condo mortgage (condo worth $2m at least) and totally DEBT FREE. Now doing full time trading and investing, earning income of $100k pa. I ENJOY doing this a lot. No more early morning drive, stuck in traffic jams. Wife earns $100k pa.

Being your own boss is a wonderful thing, you don't have to report anyone. As a multi millionaire, I enjoy the freedom to do what I like, noone to order me around. This is true freedom. Many times better than those who earn a lot more but their lives controlled by their secretary and calendar events.

This is the SINGAPORE DREAM.

[Hermit]

Originally Posted by Unregistered

I am 39 yo and my wife 38. I am a VP in a medium size company, earning some 100k per year including bonuses. Wife is government scholar and doing a PhD full time. Two kids in secondary and primary school.

We invested heavily in properties. Currently own two properties outside Singapore, one is a high-rise condominium unit worth 500k, fully paid up and a landed property worth 600k, fully paid up. We live in a 5-room HDB flat in district 03, bought in 2008 for 600k, now worth 900k, with loan remaining close to 400k. Other property is a condo unit is also in district 03, worth close to 2mil, loan remaining 600k. Our cash and other savings worth 200k. Total net worth is 3mil. Serving total debts of 1mil (interest rates of some 2.5%p.a).

We live a modest life, cook at home and only go to restaurant on special events (birthdays etc.), no car. Holiday once every year for kids to Japan or Korea and neighboring countries. The only luxury is Club memberships for all family member of four.

Want to quit current job to look after kids and start a small coffee shop. A preparation for semi-retirement. Is that viable?

You can be in a position of striking out on your own if your wife's income can sustain the family for the next few years. F&B may or may not be the starting point, being so crowded already. But I guess it depends on your own drive and personality. A friend of mine just started a motor repair workshop despite it being a very competitive trade. But he has cars in his blood, so that is his starting point after leaving life as an employee.

Do your market research and talk to people around you regarding your plans. Listening to the good and the bad, especially the bad. And make sure your spouse is not against it.

Good luck !

Thanks for your comments Hermit.