How much are you earning per annum?

Originally Posted by Unregistered

Indeed, many families become rich from flipping their property. We bought a landed house in 2006 at the bottom of the property cycle and sold at the peak in 2013. We then downgraded to a 3 bedroom condo in the Bukit Timah area and paid it in full. On top of that we still have cash in hand. With this cash, we renovated our new home nicely and also bought a new car, also paid in cash. We do not have to take any loan at all and we don't need to use any of our cash savings. We are also DEBT FREE at the age of 43. All this is made possible courtesy of the property market. However, this flipping is now no longer possible. The property bull market is OVER.

Since we have fully paid our condo, we now don't care what will happen to property prices. However those who bought their condo with only 20% downpayment will need to worry as they may face negative equity if prices crash more than 20%. The banks may ask them to top up and if they can't they have to sell at a big loss. That is why I always advice people around me to buy a property (even for their first property) with a 60% downpayment. Better still, is to buy with full cash.

NPNT (No pic no talk). Prove it by standing in front of your house and make a "V" sign so we know u not lying. If not, its just NATO (no action talk only).

Originally Posted by Unregistered

Hi folks,

Today is the last day for the Singapore motor show 2015. Better go and book your new car now before it is too late.

I expect COE prices to continue its upward trend in line with the demand for new cars. Demand is expected to be greater than the supply for COEs. There are many people who are waiting for COE prices to drop so the more people wait the greater the demand will be when they finally have to buy the new car. Don't wait for the last minute rush to buy your new car. Avoid the period of panic buying when people see prices will only go higher and higher.

Good luck in buying your new car now. Don't need to buy expensive car models. Just buy a simple $100k - $120k car and pay in cash. Don't need to take any car loan as you have to pay lots of interest. Just remember a car is a depreciating asset and just a piece of junk metal after 10 years.

I went to see the Motor show. Big crowd, but didn't see many people whipping out cheque books or signing credit cards. Guess everyone must be waiting for the COE to fall with the impending 40% quota hike, and more to come..... COE (CatA) to drop to $50k within next few biddings once after the CNY frenzy.

Originally Posted by Unregistered

I went to see the Motor show. Big crowd, but didn't see many people whipping out cheque books or signing credit cards. Guess everyone must be waiting for the COE to fall with the impending 40% quota hike, and more to come..... COE (CatA) to drop to $50k within next few biddings once after the CNY frenzy.

Stop dreaming.

Suddenly all is quiet on the COE topic. No matter the argument, COE prices will retreat only if the economy tanks. Right now it does not look like this is happening. While the US has cut off their QE, Japan, China and now the European Central Bank are looking into QEs of their own. With the large amount of cash sloshing around, some of it will reach our shores propping up our property and car prices.

In this forum, I saw mostly one side of the argument of car ownership. That is, why pay so much to own a piece of eventual scrap metal. It seems the forummers here belong to the group that is most affected by the high COE prices. To them, to own a car means they will have to forgo some other big item in their lives, or extend their retirement by many more years. This group has to think and analyse thoroughly before making a decision to buy or not to buy a car.

But let's look at the bigger populace outside. In my social meetings with acquaintances, colleagues, neighbors, friends and others, I gather there are these two other groups of people:

Group 1:- to this group, the question relevant to them is "what car to buy?". It is not whether to buy a car or not. In their conversation, the topic is "wow!, that new BM model looks cool, and it's turbo, but I am still undecided between this or the SLA Merc". Or "I am still deciding between the Accord and the Camry to replace my ageing Ford".

Group 2:- this group, mostly families, is looking for their 2nd family car. Here, I often hear this "I am looking for a cheap 2nd hand car for my son/daughter, haha, I can't bear to see him/her drive my Merc/BM". Another common one is "I need an MPV to ferry my growing family around, but we still need the other car for my wife"

My condo car park is almost full of "SK" series car plates, and so is the car park at my workplace. People just love cars.

Originally Posted by Unregistered

Suddenly all is quiet on the COE topic. No matter the argument, COE prices will retreat only if the economy tanks. Right now it does not look like this is happening. While the US has cut off their QE, Japan, China and now the European Central Bank are looking into QEs of their own. With the large amount of cash sloshing around, some of it will reach our shores propping up our property and car prices.

In this forum, I saw mostly one side of the argument of car ownership. That is, why pay so much to own a piece of eventual scrap metal. It seems the forummers here belong to the group that is most affected by the high COE prices. To them, to own a car means they will have to forgo some other big item in their lives, or extend their retirement by many more years. This group has to think and analyse thoroughly before making a decision to buy or not to buy a car.

But let's look at the bigger populace outside. In my social meetings with acquaintances, colleagues, neighbors, friends and others, I gather there are these two other groups of people:

Group 1:- to this group, the question relevant to them is "what car to buy?". It is not whether to buy a car or not. In their conversation, the topic is "wow!, that new BM model looks cool, and it's turbo, but I am still undecided between this or the SLA Merc". Or "I am still deciding between the Accord and the Camry to replace my ageing Ford".

Group 2:- this group, mostly families, is looking for their 2nd family car. Here, I often hear this "I am looking for a cheap 2nd hand car for my son/daughter, haha, I can't bear to see him/her drive my Merc/BM". Another common one is "I need an MPV to ferry my growing family around, but we still need the other car for my wife"

My condo car park is almost full of "SK" series car plates, and so is the car park at my workplace. People just love cars.

Eh why u care so much about what others say. If they like to waste money and buy car, thats their problem lah. They never ask u to pay their petrol or borrow money from u what.

Your life is your life. theirs is theirs why u care so much deh. For all we know they just talking only. U can always tell them i also want replace my horse (ferrari) at home with a cow (lambo) and let them believe lah. Jeez

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The 2nd COE bidding for Jan 2015 has started. With the many bookings expected from the Singapore Motor Show last week, we can expect COE prices continue to rise further. The high demand will spill over in Feb, March and the rest of the year and in 2016.

Originally Posted by Unregistered

The 2nd COE bidding for Jan 2015 has started. With the many bookings expected from the Singapore Motor Show last week, we can expect COE prices continue to rise further. The high demand will spill over in Feb, March and the rest of the year and in 2016.

Dont bullsh*t.
COE will begin its downward trend towards $30k by 2016.
Pls go back to your car show room.

46/44, married grad couple, two children in sec school.
$170k pa combined.
Lives in a 3 bedroom condo, paid up. Latest valuation done $1.7m.
Cash and CPF, $0.6m.
Total net worth $2.3m.
How are we doing?
Is our net worth below average among grad couples in our age group?
Are we underperforming?

Originally Posted by Unregistered

46/44, married grad couple, two children in sec school.
$170k pa combined.
Lives in a 3 bedroom condo, paid up. Latest valuation done $1.7m.
Cash and CPF, $0.6m.
Total net worth $2.3m.
How are we doing?
Is our net worth below average among grad couples in our age group?
Are we underperforming?

You are doing very well indeed. When your children starts to work and get married, you can downgrade to a one bedroom condo unit. After selling your current condo to the small unit and paying in full, you should have cash in hand of at least $1m. For example, if you sell your current condo at $1.7m and then you buy the smaller condo at $700k, you have $1m in hand.

You then invest the $1m cash in good quality blue chips that give you 6% pa dividend yield. So you get $60k pa in dividends. If each of your children gives you $1k pm, you will get $2k pm or $24k pa. When you reach 65, you and wife will get $3k pm in total (assuming the min sum goes higher and hence payout is higher) or $36k pa. So you get in total $120k pa of passive income. So, you are retirement ready. Congratulations.