Late forties middle class couple, makes $210k pa in total. Upgraded from 4 room flat to a condo in 2006, paid only $600k for condo. Now fully paid up, latest valuation $1.2m. Bought a car in 2009, now fully paid up. We plan to retire in our sixties. By then, our children would have grown up and married. The condo may be too big for just the two of us, may sell and move to a one bedroom condo. Easier to maintain. We can then invest the cash balance in good stocks and earn the dividends. Our retirement spending should not cost so much since it will be just a two persons household and we also intend to sell our car by then. The most we will spend would be $3k pm to buy food and pay for utilities, medical, holidays, etc. To fund our retirement, we will get income from our CPF Life and dividends.

You started to attack the 5m net worth engineer first..
So, you were the one wasted the bandwidth and forumers have to endure your nonsense here...

Banker vs engineer?

Of course banker wins

get back to topic
 

lets get back to topic.

i earn 135k per annum, 26 this year, bonus not included.

cant seem to save much because i splurge on models and bottles, treat friends when i go out etc.

rather messed up cos i dont qualify for BTO.

why do you splurge on models? isn't your wife to be not jealous that you spend on models? these pretty models would make her jealous, right? unless she is open minded about you dating other women.

Cat A may drop to $20k level in 2015. Cat B may drop to $25k level.

All the engineers will be very happy to be able to renew their COEs for another 10 years, they bought their cars very cheap in 2005 and 2006.

The bankers can buy new cars for each of their family members - one for wife, one for son, one for daughter, one for old father, and one for the maid to go shopping.

i am 26.... not married, havent been working for that long.

What's your net worth?

He is not contributing to this thread at all.. get lost..

You have done very well. To own and live in a private condo is a big achievement in Singapore. And to own it in full with no more loan is a super big achievement. I noticed you bought it at a right time. That is why timing the market is a very important skill. Now is a bad time to buy, good time to sell. Property prices are now falling, esp HDB flats and landed properties.

You are also practical with your retirement. Yes, there is no need to have a car when you're retired. Since you are moving to a one bedroom unit, I suggest you get a unit next to an MRT station. Look at the Jurong area as that precint is the new downtown. Some Jurong condos which are next to the MRT station are J Gateway (next to JE MRT station), Caspian and Lakefront Residences (next to Lakeside MRT station).