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How much are you earning per annum?

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  #5011 (permalink)  
Old 05-08-2014, 10:54 PM
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Wrong. It should be

1. Fully paid up condo.
2. Financial independence. Have choice to not work anymore.
3. Fully paid up car.
4. Lots of cash.
5. Millionaire status.

These are the ultimate Singapore dream.
Only the smart ones will achieve this.
Everything listed here is related to $$$. Family, health and being happy and contented are more important than any of these materials.

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  #5012 (permalink)  
Old 06-08-2014, 08:07 AM
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The hard reality is: if you own and live in a condo in Singapore, you are definitely considered the upper class, much higher than the middle class. Don't try to console yourself by saying this and that, the truth is owning and living in a condo is a status symbol. That is why most Singaporeans aspire to own and live in a condo. Those who can't make it go for ECs, which is a lesser cousin of PCs, but better than public flats.

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  #5013 (permalink)  
Old 06-08-2014, 12:30 PM
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Hello,

While I appreciate your comments, I take issue with them.

Why are you not happy when I say that I am in the top 15%? What is your problem? I work hard everyday to achieve what I have achieved and this is a big achievement for me since I came from a low income family. To own a condo, fully paid up some more, is a BIG acheivement mind you. Tell me, how many people in their 40s have fully paid up their condo mortgage? Those who bought flats, many paid up but those who bought a condo, not may paid up their mortgage.

My condo is NOT a MM unit. It is a decent size 3 bedroom unit. You just need to find hard for good deals.

You can still live in a condo and live a humble life. A humble life means you are humble, don't look down at others, speak nicely to people and buy a car you can afford.



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I wanted to applaud you on your happy life, but there are certain parts in your story I took issue with.

1. Those staying in condos are not necessary the top 15% (neither in wealth nor achievements). For eg, your household income and net worth will be below many HDB dwellers. It would have been enough to just say that you are among the 15% staying in a condo, rather than among the top 15%.

2. You bought a brand new condo last year at $1m -- this must be a MM unit. Last year, the prices for most new condos especially newly TOP ones were still commanding >$1K psf. If that were true, your condo would be smaller than a 5 roomer HDB.

3. It would be more appropriate to describe your lifestyle as simple rather than humble. If you want a humble life you shouldnt have moved to a condo. Your aspiration to own a condo also dont quite jell with living a simple lifestyle.

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  #5014 (permalink)  
Old 06-08-2014, 03:46 PM
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Hello,

While I appreciate your comments, I take issue with them.

Why are you not happy when I say that I am in the top 15%? What is your problem? I work hard everyday to achieve what I have achieved and this is a big achievement for me since I came from a low income family. To own a condo, fully paid up some more, is a BIG acheivement mind you. Tell me, how many people in their 40s have fully paid up their condo mortgage? Those who bought flats, many paid up but those who bought a condo, not may paid up their mortgage.

My condo is NOT a MM unit. It is a decent size 3 bedroom unit. You just need to find hard for good deals.

You can still live in a condo and live a humble life. A humble life means you are humble, don't look down at others, speak nicely to people and buy a car you can afford.
Good deals = old lousy condo development.

I don't care about condo no condo. What's the big deal?
Would you rather have a $950 wallet with $50 inside, or a $50 wallet with $950 inside?

I stay in an 5-room with my own corridor and the $272k I spent on renovation & furniture is more high tech than 99.5% of houses out there - automated. I can turn on aircon, close/open doors, vacuum the floor, record TV shows, open/close curtains, wash clothes, wash dishes, feed dog, feed fishes, fill my Jacuzzi tub, turn on my Jacuzzi, all from my phone as long as I have internet connection. I have my own Uninterruptible Power Supply ~ 3hr for essential operation of my robotic house.

Also, 7-11, DBS & UOB ATM, postbox are downstairs. Neighbourhood police post adjacent block. Post office 2mins away, MRT 6min sheltered walk, shopping mall and 2 supermarkets all within 7 mins normal walking speed (not Property Agents "3 min" walking speed).

All of this convenience - still 20% cheaper than "good deal condo" which is old, crumbling and my kids still need to walk 10mins to nearest bus stop. Of if there is another condo that is convenient, then my current house is 40% cheaper than the expensive convenient one.

Condo so what, just means you got "face" when you write you address down on lucky draw coupon. Will you take a picture of your condo and stick on your forehead to walk everywhere to advertise "Eh dun play play, I stay condo".
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  #5015 (permalink)  
Old 06-08-2014, 05:35 PM
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Good deals = old lousy condo development.

I don't care about condo no condo. What's the big deal?
Would you rather have a $950 wallet with $50 inside, or a $50 wallet with $950 inside?

I stay in an 5-room with my own corridor and the $272k I spent on renovation & furniture is more high tech than 99.5% of houses out there - automated. I can turn on aircon, close/open doors, vacuum the floor, record TV shows, open/close curtains, wash clothes, wash dishes, feed dog, feed fishes, fill my Jacuzzi tub, turn on my Jacuzzi, all from my phone as long as I have internet connection. I have my own Uninterruptible Power Supply ~ 3hr for essential operation of my robotic house.

Also, 7-11, DBS & UOB ATM, postbox are downstairs. Neighbourhood police post adjacent block. Post office 2mins away, MRT 6min sheltered walk, shopping mall and 2 supermarkets all within 7 mins normal walking speed (not Property Agents "3 min" walking speed).

All of this convenience - still 20% cheaper than "good deal condo" which is old, crumbling and my kids still need to walk 10mins to nearest bus stop. Of if there is another condo that is convenient, then my current house is 40% cheaper than the expensive convenient one.

Condo so what, just means you got "face" when you write you address down on lucky draw coupon. Will you take a picture of your condo and stick on your forehead to walk everywhere to advertise "Eh dun play play, I stay condo".
You sounded like someone who is having inferiority complex. You picked on the other poster's post for no apparent reason other than "I have issue with your post".

To put into perspective, I also have issue with your post as I cannot understand why you want to invest so much to make your entire home state-of-the-art. It's a bloody 1 floor home and you can just move around and do most of it by yourself. If you have money to burn, then please burn it on something more worthwhile. You sounded like one lazy fat bastard who doesn't bother to do anything by yourself. I do hope you still know how to operate those items manual if your internet connection dies. Seriously....
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  #5016 (permalink)  
Old 06-08-2014, 07:46 PM
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You sounded like someone who is having inferiority complex. You picked on the other poster's post for no apparent reason other than "I have issue with your post".

To put into perspective, I also have issue with your post as I cannot understand why you want to invest so much to make your entire home state-of-the-art. It's a bloody 1 floor home and you can just move around and do most of it by yourself. If you have money to burn, then please burn it on something more worthwhile. You sounded like one lazy fat bastard who doesn't bother to do anything by yourself. I do hope you still know how to operate those items manual if your internet connection dies. Seriously....

Hahaha... I also have an automated home. Even better don't need internet connection. My system is named m.a.i.d. In terms of convenience, my porch has 4 cars that allow me to be within driving distance to Orchard. I believe cause everything you have is inside... nobody cannot see. So come here haolian like nobody business. For me, put address at Dampsey already enough wow factor.... get a life.
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  #5017 (permalink)  
Old 06-08-2014, 10:15 PM
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Good deals = old lousy condo development.

I don't care about condo no condo. What's the big deal?
Would you rather have a $950 wallet with $50 inside, or a $50 wallet with $950 inside?

I stay in an 5-room with my own corridor and the $272k I spent on renovation & furniture is more high tech than 99.5% of houses out there - automated. I can turn on aircon, close/open doors, vacuum the floor, record TV shows, open/close curtains, wash clothes, wash dishes, feed dog, feed fishes, fill my Jacuzzi tub, turn on my Jacuzzi, all from my phone as long as I have internet connection. I have my own Uninterruptible Power Supply ~ 3hr for essential operation of my robotic house.

Also, 7-11, DBS & UOB ATM, postbox are downstairs. Neighbourhood police post adjacent block. Post office 2mins away, MRT 6min sheltered walk, shopping mall and 2 supermarkets all within 7 mins normal walking speed (not Property Agents "3 min" walking speed).

All of this convenience - still 20% cheaper than "good deal condo" which is old, crumbling and my kids still need to walk 10mins to nearest bus stop. Of if there is another condo that is convenient, then my current house is 40% cheaper than the expensive convenient one.

Condo so what, just means you got "face" when you write you address down on lucky draw coupon. Will you take a picture of your condo and stick on your forehead to walk everywhere to advertise "Eh dun play play, I stay condo".

Let me offer another perspective. Stay in condo or hdb is no different as long as that is your only property. The key to make money is that one must have >= 1 property.

And since you cannot have more than 1 hdb, having an ADDITIONAL condo besides an HDB is the only possibility to make money.


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  #5018 (permalink)  
Old 06-08-2014, 10:40 PM
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The hard reality is: if you own and live in a condo in Singapore, you are definitely considered the upper class, much higher than the middle class. Don't try to console yourself by saying this and that, the truth is owning and living in a condo is a status symbol. That is why most Singaporeans aspire to own and live in a condo. Those who can't make it go for ECs, which is a lesser cousin of PCs, but better than public flats.
I disagree with that, I personally know 2 people who make average salaries of about 7K per month which I consider middle class? Both are in their mid 30's and both own a 2 Bedroom condo with full facilities in locations near MRT. Parents are not well off. And both also happen to be singles.

Another one couple make about 5 - 8K each and also bought a 4 Bedroom condo good area near MRT. Not central but near good amenities.

Condo's are not what they used to be, I am very sure 30% of the HDB owners can easily buy a condo if they wanted assuming they sold their current properties and took a decent loan.

So unless you're telling me your condo is in Ardmore Park or along Tanglin road its going to be hard to decide who is middle and who is upper class.
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  #5019 (permalink)  
Old 06-08-2014, 11:00 PM
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I disagree with that, I personally know 2 people who make average salaries of about 7K per month which I consider middle class? Both are in their mid 30's and both own a 2 Bedroom condo with full facilities in locations near MRT. Parents are not well off. And both also happen to be singles.

Another one couple make about 5 - 8K each and also bought a 4 Bedroom condo good area near MRT. Not central but near good amenities.

Condo's are not what they used to be, I am very sure 30% of the HDB owners can easily buy a condo if they wanted assuming they sold their current properties and took a decent loan.

So unless you're telling me your condo is in Ardmore Park or along Tanglin road its going to be hard to decide who is middle and who is upper class.
Nowadays, shoebox unit can be easily bought. Those also called condo. Bottomline, unless your networth isn't 7 digits, you're just well off. Upper class is the creme de la creme.
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  #5020 (permalink)  
Old 06-08-2014, 11:14 PM
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Nowadays, shoebox unit can be easily bought. Those also called condo. Bottomline, unless your networth isn't 7 digits, you're just well off. Upper class is the creme de la creme.
Then we should simplify the equation and follow the banks rule and use investable assets to determine that. Which is cash and liquid assets not including personal dwelling.
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