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How much are you earning per annum?

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  #6121 (permalink)  
Old 05-12-2014, 07:19 PM
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None taken, no worries.

Have thought about this long and hard, but still think my situation is better than couples without children or who have children who cannot support them.

For couples without children, when they grow old they have to take care of aging partner on top of having to take care of themselves. For us singles, we only have to take care of ourselves. Worse come to worse, can get professional help.

But that's still a long time away, at least another 20 good years!

It is important however not to live a hermit life. I have a circle of close of friends, both sexes, singles and married. Initially the married friends would tease us about getting us hitched, but because there are a number of us singles, this is no longer a topic.


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When old, do you expect anyone to take care of u? I mean no offense, but whats your plan by then? Go nursing home?

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  #6122 (permalink)  
Old 05-12-2014, 09:05 PM
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You can only "flip" a property that you are not staying in. Otherwise after selling need to buy another one, right?

And pls lah, go back to your car show room... How can ask people to sell away their roof in order to buy consumption item? Tau now Bo Ho say
fool, firstly i'm not a car dealer. second, you can buy BTO flat twice so can flip your first BTO flat. understand?

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  #6123 (permalink)  
Old 06-12-2014, 07:58 AM
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Petrol prices are now lower due to the plunge in oil prices. Your home utility bills will also be lower. With lower oil prices, cost of production of many goods will also go down and become cheaper. So we all have more money in our pockets.

This means we can easily buy a brand new car as we have more savings and the cost of running a car is now lower since petrol prices is cheaper now. Better to own a car now than taking the cab.

Petrol and cars are complementary goods. When the price of oil drops, the demand for cars will shoot up. This means the demand for new cars and COEs will shoot up.

Buy your new car now.

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  #6124 (permalink)  
Old 06-12-2014, 11:57 AM
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Household income $148k pa. 3 kids.
Bought our condo in 2006 for $600k. Now fully paid up.
Condo worth $1.2m today. Our other assets $600k.
Total net worth $1.8m.
We are 46 & 50 years old.

Any advice when can we retire? How do we retire?
Should we sell our condo in 15 years time and downgrade to a 3 room HDB flat?
Or should we retire in a neighbouring country such as Malaysia or Thailand?


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  #6125 (permalink)  
Old 06-12-2014, 01:01 PM
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Household income $300k pa, 2 kids
Bought our condo in 2003 for $600k, fully paid up by 2009.
Condo worth $1.3m today. Other assets maybe $1m
We are 44 & 45 years old.
Looking to purchase a second property, but will wait patiently as current prices are still too high.
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  #6126 (permalink)  
Old 06-12-2014, 02:29 PM
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Originally Posted by Unregistered View Post
Household income $300k pa, 2 kids
Bought our condo in 2003 for $600k, fully paid up by 2009.
Condo worth $1.3m today. Other assets maybe $1m
We are 44 & 45 years old.
Looking to purchase a second property, but will wait patiently as current prices are still too high.
Would you consider properties in Sentosa for own stay? Only $20m. Can discount $1m.
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  #6127 (permalink)  
Old 06-12-2014, 03:17 PM
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Would you consider properties in Sentosa for own stay? Only $20m. Can discount $1m.
you must be joking. i only earn very little.
Sentosa is for those rich foreign talents
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  #6128 (permalink)  
Old 06-12-2014, 03:51 PM
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55 & 58 year old retired millionaire couple. One daughter, working, married & living in her own condo with her husband.

We sold our landed last year and downgraded to a 3-bedroom $2m condo, fully paid.

We earn a passive income of $100k pa from our investment portfolio. Our expenses $50k pa including holidays. We reinvest our savings to grow our dividends.
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  #6129 (permalink)  
Old 06-12-2014, 11:07 PM
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Dear sir,

You inspire me and my wife. We too hope to retire soon. Our son is away overseas and our house (bought 30 years ago and paid up) seems too big for the two of us. We plan to sell our house and downgrade to a condo. Hope to sell our house for $5m and we can then buy a penthouse in the OCR for $2m. We will then invest our $3m cash to get $120k pa dividends. We don't expect to spend much as it will only be the two of us. The most we will spend is $60k pa.

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55 & 58 year old retired millionaire couple. One daughter, working, married & living in her own condo with her husband.

We sold our landed last year and downgraded to a 3-bedroom $2m condo, fully paid.

We earn a passive income of $100k pa from our investment portfolio. Our expenses $50k pa including holidays. We reinvest our savings to grow our dividends.
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  #6130 (permalink)  
Old 07-12-2014, 07:36 AM
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We are a middle class couple, who worked very hard even though we don't earn as much as forumers here. Due to our financial prudence and savviness in our investments, we are able to buy a condo which is currently worth $1m. We still have about $200k or mortgage left.

Our latest combined income is $140k pa and we are both 45 years old. Besides our condo, we have cash, CPF and stocks which amount to $700k. Our total net worth is $1.5m.

We plan to grow our net worth by our savings and investments. We hope our net worth will reach $2.5m by the time we retire at 65. Once we retire, we will get our CPF Life income of $3,400 pm (for two persons) or $40.8k pa. In addition, we will have a $500k investments in dividend stocks giving us $25k pa of dividends. Our children will give us an allowance of $10k pa. So in total our passive income should be $75.8k pa. Our expenditure should be $3k pm or $36k pa since we don't plan to own a car nor have a maid. Our holidays should be $12k pa. We can still save $27.8k pa.
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