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How much are you earning per annum?

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  #6021 (permalink)  
Old 21-11-2014, 10:43 PM
Unregistered_101
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Let me get this right, you're a mid 30's mature working adult making 100+K a year, who has came into the good fortunate of inheriting
- Liquid assets
- immovable assets based in Singapore

Without the headache of
- Bickering relatives suing each other for control
- Overseas assets in odd locations
- Or inheriting a company full of employees looking for direction from their new boss.

Such a straightforward matter and yet you are still lost and need direction from nameless people on a forum? Either you are a one big matured strawberry or this post is F.O.S.

Ask your wife to sort it out lah.


Quote:
Originally Posted by seekingadvice999 View Post
inherited wealth from parents
a fully paid up terrace (FH)- valuation abt 3.5mio
a fully paid up 99 year condo (currently renting out @ 3.5k pm) valuuation abt 1.5mio
inherited cash - 1.5mio
inherited investment (mf, equities, bonds) - 1 mio


staying in a FH terrace (with a loan of 1mio)
own cash -1 mio
own investments (mf, equities, bonds , fx) - 1mio
income - 350k pa
2 cars - fully paid

husband & wife
age: mid 30s
we are lost, not sure what to do with the sudden inherited wealth......any suggestions.

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  #6022 (permalink)  
Old 22-11-2014, 08:10 AM
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Aiyah, give the dude a break. The dude has already lost both parents.

It is not everyday that people will tell strangers that their parents both died, probably at relatively young age, as the dude is only in mid 30s. Dying at such relatively young ages could only be due to serious illnesses or accident. I believe it must be quite traumatic for the dude.

He is also stressed with sudden wealth, still grappling with large inheritance tax and lost as to what to next, so leave him be, if you cannot offer any good advise.

Quote:
Originally Posted by Unregistered_101 View Post
Let me get this right, you're a mid 30's mature working adult making 100+K a year, who has came into the good fortunate of inheriting
- Liquid assets
- immovable assets based in Singapore

Without the headache of
- Bickering relatives suing each other for control
- Overseas assets in odd locations
- Or inheriting a company full of employees looking for direction from their new boss.

Such a straightforward matter and yet you are still lost and need direction from nameless people on a forum? Either you are a one big matured strawberry or this post is F.O.S.

Ask your wife to sort it out lah.


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  #6023 (permalink)  
Old 22-11-2014, 10:09 AM
Millionaire Member
 
Join Date: Sep 2011
Posts: 275
Hermit is on a distinguished road
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Quote:
Originally Posted by seekingadvice999 View Post
inherited wealth from parents
a fully paid up terrace (FH)- valuation abt 3.5mio
a fully paid up 99 year condo (currently renting out @ 3.5k pm) valuuation abt 1.5mio
inherited cash - 1.5mio
inherited investment (mf, equities, bonds) - 1 mio


staying in a FH terrace (with a loan of 1mio)
own cash -1 mio
own investments (mf, equities, bonds , fx) - 1mio
income - 350k pa
2 cars - fully paid

husband & wife
age: mid 30s
we are lost, not sure what to do with the sudden inherited wealth......any suggestions.
Bro,

It is good that you are seeking advice. From your lingo, I guess you (or your missus or both) is in the finance sector, so you already know the range of products out there. If the inheritance is recent, the rule is to sit on it for some time. But, like in trading, it can get a bit difficult because we all want to "do something". Sit on it until you are not thinking of it so much. When it is not in your mind or in your conversations so often, you will be in a clearer state to deal with it. Also avoid the temptation to become the investor in a friend's new business idea and instantly transforming yourself into a business owner. If you are not a already private banking client, there is no real need to become one. Lots of time for that later.

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  #6024 (permalink)  
Old 22-11-2014, 08:10 PM
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Quote:
Originally Posted by Hermit View Post
Bro,

It is good that you are seeking advice. From your lingo, I guess you (or your missus or both) is in the finance sector, so you already know the range of products out there. If the inheritance is recent, the rule is to sit on it for some time. But, like in trading, it can get a bit difficult because we all want to "do something". Sit on it until you are not thinking of it so much. When it is not in your mind or in your conversations so often, you will be in a clearer state to deal with it. Also avoid the temptation to become the investor in a friend's new business idea and instantly transforming yourself into a business owner. If you are not a already private banking client, there is no real need to become one. Lots of time for that later.


Thanks bro
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  #6025 (permalink)  
Old 23-11-2014, 08:43 AM
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Lets get back some car discussions
How does the car market look this weekend?
seems many promotions,
COE looks to breach new recent highs!
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  #6026 (permalink)  
Old 23-11-2014, 08:47 AM
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Quote:
Originally Posted by Unregistered View Post
Lets get back some car discussions
How does the car market look this weekend?
seems many promotions,
COE looks to breach new recent highs!
why don't you start another thread to market your cars? does this thread have the words car or COE in the title?
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  #6027 (permalink)  
Old 23-11-2014, 08:51 AM
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High Five bro. Think that dude is a car salesman.

Quote:
Originally Posted by Unregistered View Post
why don't you start another thread to market your cars? does this thread have the words car or COE in the title?
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  #6028 (permalink)  
Old 23-11-2014, 09:09 AM
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To us retirement does not mean we stop "living". It should not be for anyone.

We want to continue with our hobbies and interests when we retire, in fact we see ourselves doing more of those things. That said, we would still need a car. (Just one car instead of 2 we have now). We will also continue to have domestic help to clean house and cook for us, so that we have time to pursue our hobbies and interests. Right now we pay the maid $500 per month and another $265 in maid levy per month. This cost can only go up with time. In 10 years time, I wouldn't be surprised the salary of the maid goes up to $1500 per month.

We would still want / love to travel occasionally. So that would mean $10k - $15k annually for two retirees traveling in comfort.

We also love attending concert and live performances - CATS, MAMA MIA, etc.. This will continue for us in retirement.

Plus we do have a bucket list of things to do. They are going to cost money to see them out.

$13k per month in retirement (based on 2014 dollars) should provide us a good buffer for our retirement lifestyle expenses. The medical expense remains a big unknown!

Quote:
Originally Posted by Unregistered View Post
You are very rich, multi millionaires! Congratulations! How did you do it? Are you both working in finance?

Why do you need so much at 65? $160k pa is like $13k pm. If there is only the two of you, why do you need so much? Food and other things should be only $2k pm. Are you planning to have a maid and drive a car during retirement?

I don't plan to have a car as I will find a studio condo next to an MRT station during retirement. We will also not have a maid as there is not much housework to do for two persons.
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  #6029 (permalink)  
Old 23-11-2014, 10:51 AM
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Quote:
Originally Posted by Unregistered View Post
Lets get back some car discussions
How does the car market look this weekend?
seems many promotions,
COE looks to breach new recent highs!
Many people likely be in car showrooms now. To book their new car. Just visit the showrooms and see for yourself. Look at all your competitors, fellow car buyers who will demand to buy their new cars since they will get big bonuses next month. They are buying before the lunar new year. Cat A should go to $72k and Cat B will rise to $75k in the first Dec bidding. This is still considered cheap since they were $90k plus in Jan 2013, not too long ago. With the billions of dollars in the hands of many people from bonuses in Dec as early 2015, these money will go to the new car market.
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  #6030 (permalink)  
Old 23-11-2014, 02:13 PM
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Quote:
Originally Posted by Unregistered View Post
Many people likely be in car showrooms now. To book their new car. Just visit the showrooms and see for yourself. Look at all your competitors, fellow car buyers who will demand to buy their new cars since they will get big bonuses next month. They are buying before the lunar new year. Cat A should go to $72k and Cat B will rise to $75k in the first Dec bidding. This is still considered cheap since they were $90k plus in Jan 2013, not too long ago. With the billions of dollars in the hands of many people from bonuses in Dec as early 2015, these money will go to the new car market.

Looks like the CAR salesman is back in this Salary forum.
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