How much are you earning per annum?

Originally Posted by Unregistered

Well, you can wait till the cows come home. Good luck!

Judging by the forumers here, we can see so many of them are rich. This is a just a small sample of the population in Singapore. There are many people like forumers here. They are well to do and many are millionaires.

10 years ago I am just a common man in the street HDB dweller. Today I am a millionaire living in a nice modern condo. There are many success stories like mine, in fact many are more successful and much more richer than me. For me, buying cars at current COE price is no big deal, anyway we will all die so just buy and enjoy a car before you die. Buy a cheap car will do.

Mr millionaire, if you minus value of your nice modern condo, how much do you have? Still have another million?

Many millionaire will not survive to live as a middle class. Are you one of them?

The 2nd Nov bidding for COE starts today. I have a feeling Cat A will close at $70k and Cat B will close at $85k.

Originally Posted by Unregistered

The 2nd Nov bidding for COE starts today. I have a feeling Cat A will close at $70k and Cat B will close at $85k.

Well you can continue to dream and feel and 自摸

We are a lower income graduate couple in our 40s. As a couple we only earn $140k pa in total, a far cry from forumers here whose household income is in the excess of $500k pa. However, we are contented. Coming from low income families, we have come a long way. We managed to upgrade to a condo a few years go. We bought it at $600k and today due to the country's strong economy, our condo appreciated in value and is now worth $1.2m. We still have about $300k in mortgage outstanding. Despite our lower income compared to most graduate couples, we still manage to own a car. We are happy to have achieved the two most important Cs in Singapore - a condo and a car. We hope to change our car to a brand new car soon.

[lfl]

Originally Posted by Unregistered

We are a lower income graduate couple in our 40s. As a couple we only earn $140k pa in total, a far cry from forumers here whose household income is in the excess of $500k pa. However, we are contented. Coming from low income families, we have come a long way. We managed to upgrade to a condo a few years go. We bought it at $600k and today due to the country's strong economy, our condo appreciated in value and is now worth $1.2m. We still have about $300k in mortgage outstanding. Despite our lower income compared to most graduate couples, we still manage to own a car. We are happy to have achieved the two most important Cs in Singapore - a condo and a car. We hope to change our car to a brand new car soon.

Kudos to you and your wife!

I come to this forum for amusement and it never fails me - so far.

I believe a car dealer (especially one that is selling Korean car) is behind most of the posts rooting / predicting higher COE.

The COE will go up and down depending on economic cycles. Right now it seems the economy is still healthy and thus will mitigate the expected injection of bumper COEs into the market. There is also the gahmen "interference" in the supply. They can spread out the bumper COE supply over a longer term so that the number of COEs will remain more stable in the long run.

Dont waste your $ on cars if it meant forgoing something important in your life. Our public transportation is quite good already.

Originally Posted by Unregistered

We are a lower income graduate couple in our 40s. As a couple we only earn $140k pa in total, a far cry from forumers here whose household income is in the excess of $500k pa. However, we are contented. Coming from low income families, we have come a long way. We managed to upgrade to a condo a few years go. We bought it at $600k and today due to the country's strong economy, our condo appreciated in value and is now worth $1.2m. We still have about $300k in mortgage outstanding. Despite our lower income compared to most graduate couples, we still manage to own a car. We are happy to have achieved the two most important Cs in Singapore - a condo and a car. We hope to change our car to a brand new car soon.

I don't often people refer to themselves as multi millionaire, even those I know that live in 15 - 30 million dollar houses. Naturally I also don't hear them make a big deal out of 200K or 500K car purchases either. Labeling yourself a multi millionaire and then nit picking over 200K seems ironic.

But you're right real multi millionaires don't tell people they are rich (or millionaires for that matter another irony). When I stand outside their houses with the pools and what not I would already think "man this f*cker is rich)

Since your not working why don't you live in Malaysia and rent out your condo. That way you can squeeze every last cent from your assets. One thing for sure at the end of the day someone will spend it for you.

Originally Posted by Unregistered

As a multi millionaire, I can't see myself spending $200k on a conti car, let one $500k. It's going to be close to worthless after 10 years. I can triple my money over 10 years. Every dollar counts. That's how I became a millionaire in the first place. I now am financially independent and don't have to work for others to be their slaves. Many people are simply slaves to their jobs because they are not financially independent. A good Korean car is good enough for me. Why do I need to buy an expensive car? People around me know I'm rich, I don't have to convince them.

People are all different. Likewise for millionaires. Many millionaires are actually quite miserly, and that may explain how they built their wealth. It is their right to live the way they want be it being spendthrift or miserly. Usually these millionaires spent little on themselves, but they can be generous in philanthropy - Contributing to charitable causes.

What is sad though, are the people of lesser means trying to live like a millionaire.

These not so financially-sound people often justify to themselves that they only live once and squander away their money without much thought to the day when they can no longer earn an income. Then they become "parasites" to society depending on charity. This is where the true millionaires stepped forward and helped them out through their generosity.

I know it is difficult not to be judgemental, but I see different people taking different paths in life but somehow our lives are all intertwined.

At one time in my life I also subscribed to the "YOLO" mantra. YOLO = you only live once. I bought a condo, bought conti cars, went on expensive holidays -- but I found it all rather empty (not to mention that my bank account was also empty).

Now, I am happy with my trusty Jap car, still staying in my condo and counting the ever growing net worth.

Originally Posted by Unregistered_101

I don't often people refer to themselves as multi millionaire, even those I know that live in 15 - 30 million dollar houses. Naturally I also don't hear them make a big deal out of 200K or 500K car purchases either. Labeling yourself a multi millionaire and then nit picking over 200K seems ironic.

But you're right real multi millionaires don't tell people they are rich (or millionaires for that matter another irony). When I stand outside their houses with the pools and what not I would already think "man this f*cker is rich)

Since your not working why don't you live in Malaysia and rent out your condo. That way you can squeeze every last cent from your assets. One thing for sure at the end of the day someone will spend it for you.

You have matured financially. How old are you?

I don't really understand why people living in HDB flats buy expensive conti cars. You can see so many of them at HDB car park lots. Aren't these people pretentious? These people should just go for Jap or Korean cars which are so much cheaper. At the end of the day, thier cars will be worthless anyways. Just a piece of junk metal.

I know of millionaires who drive cheap cars because they hate to see their money down the drain everyday. They would rather donate their money to charity to feed the old and poor or the orphaned children.

Originally Posted by Unregistered

People are all different. Likewise for millionaires. Many millionaires are actually quite miserly, and that may explain how they built their wealth. It is their right to live the way they want be it being spendthrift or miserly. Usually these millionaires spent little on themselves, but they can be generous in philanthropy - Contributing to charitable causes.

What is sad though, are the people of lesser means trying to live like a millionaire.

These not so financially-sound people often justify to themselves that they only live once and squander away their money without much thought to the day when they can no longer earn an income. Then they become "parasites" to society depending on charity. This is where the true millionaires stepped forward and helped them out through their generosity.

I know it is difficult not to be judgemental, but I see different people taking different paths in life but somehow our lives are all intertwined.

At one time in my life I also subscribed to the "YOLO" mantra. YOLO = you only live once. I bought a condo, bought conti cars, went on expensive holidays -- but I found it all rather empty (not to mention that my bank account was also empty).

Now, I am happy with my trusty Jap car, still staying in my condo and counting the ever growing net worth.

Originally Posted by Unregistered

You have matured financially. How old are you?

I don't really understand why people living in HDB flats buy expensive conti cars. You can see so many of them at HDB car park lots. Aren't these people pretentious? These people should just go for Jap or Korean cars which are so much cheaper. At the end of the day, thier cars will be worthless anyways. Just a piece of junk metal.

I know of millionaires who drive cheap cars because they hate to see their money down the drain everyday. They would rather donate their money to charity to feed the old and poor or the orphaned children.

they could be rich but choose to stay in hdb. i know a friend whose father is very rich... own a bungalow but choose to rent it out and live in a 4rm hdb in khatib.... he own 2 merc.