How much are you earning per annum?

Originally Posted by Unregistered

Did you go to the car showrooms? I'm sure there are many families booking for their confirmed COE new car. Yes, COE prices will bounce back for sure in this coming March 2015 COE bidding. Better to book your new car now as this temporary low COE prices is temporary indeed.

Yes, I managed to book the Altis Classic package at $99k. but i am very worried now that I cannot get the successful bid as there are so many people crowded in the showroom. I am wondering should I top up to get guarenteed bid. I don't want to miss the boat this time.

Originally Posted by Unregistered_101

That depends on yourself, are you someone who loves the drive feel or are you a badge whore?

If you love the drive I would suggest you consider BMW as well, A3 I recall uses VW dry DSG Gearbox which is notoriously problematic.

Merc has better reliability of the 3 brands that said, but this is heng xuay.

I love a good drivers car so I got a 335, needless to say relatives come and quiz me why didn't I get a 5 series lol, I cannot be bothered to explain the drive, power, balance, size.

These days I only tell people who actually appreciate driving what I drive.

Even a 316 is a good car very good balance and control, hope you find something suitable.

Did I come to the wrong forum... Why talk about cars?

Originally Posted by Unregistered

43 & 45, middle class family, total household income $170k pa.
Home is a condo now worth $1.5m, paid up.
We own a car worth $80k, paid up.
Other assets (CPF funds + stocks + cash), $800k.
Total net worth, $2.38m.

You can actually retire NOW. Here's how:

1. sell you condo and buy a 4 room HDB flat for $400k. you will get cash of $1.1m after the transactions

2. Let's assume your cpf total is $400k, so your cash and stocks is now worth $400k.

3. Invest your cash and stocks in a portfolio of strong blue chip stocks with 5% dividend yield and you get $75k pa of dividends

4. reduce your expenses to $60k pa. you can do this by not owning a car, not employing a maid, live a simple but happy and healthy lifestyle

5. you save $15k pa

6. when your children starts to work, they will give you allowance of $2k pm in total

7. when you reach 65, you will get $3500 pm as a couple (opt for the enhanced CPF Life option of $241,500k)

Originally Posted by Unregistered

Did you go to the car showrooms? I'm sure there are many families booking for their confirmed COE new car. Yes, COE prices will bounce back for sure in this coming March 2015 COE bidding. Better to book your new car now as this temporary low COE prices is temporary indeed.

ln last bidding, COE price drop $5k, this coming wed, COE will continue to drop another $2-3k. That is why Audi and Merc has dropped $2-3k in price this weekend. Expect Cat B price to drop even more on wed

Originally Posted by Unregistered

You can actually retire NOW. Here's how:

1. sell you condo and buy a 4 room HDB flat for $400k. you will get cash of $1.1m after the transactions

2. Let's assume your cpf total is $400k, so your cash and stocks is now worth $400k.

3. Invest your cash and stocks in a portfolio of strong blue chip stocks with 5% dividend yield and you get $75k pa of dividends

4. reduce your expenses to $60k pa. you can do this by not owning a car, not employing a maid, live a simple but happy and healthy lifestyle

5. you save $15k pa

6. when your children starts to work, they will give you allowance of $2k pm in total

7. when you reach 65, you will get $3500 pm as a couple (opt for the enhanced CPF Life option of $241,500k)

Why do you assume kids these days are gonna give their parents an "allowance" when they start working? Many of the young working adults I know are still RECEIVING funding from their parents for various expenditure eg. Higher education, Wedding misc items including engagement ring, wedding banquet etc, car down payment, condo down payment (combined income too high to qualify for HDB or EC), family holidays etc..

Given this, if ever I get to retire, I will not bank on my kids providing me a single cent. In fact, I will be thankful if they don't ask me for more money.

[lazyplane]

Originally Posted by Unregistered

You're not a middle class family but in the top 5% of Singaporean families. Why? Because you own a fully paid condo, a fully paid car and your combined net worth is more than $2m. That puts you on the top 5%.

Not to be a downer but dont quite think it is top 5% based on govt statistics.
top 10-20% maybe but not top 5%.

Top 5 % are mostly in property above 5 million.
5-10 % in high class condos and cheaper landed property. (ie above 3 million)
top 10-20% in condo

This is based on my take from singapore published stats of annual hh income and property dwelling.

COE prices has reached its lows and will move up back in this week's COE bidding. COE supply will be lesser in the next quarter than last quarter's supply. This is to prevent and boom and bust COE prices which makes everyone unhappy.

If we dont control the COE supply, in 2020, COE prices will shoot up again to possibly more than $100k. Better to regulate the supply over the long term so that Cat A COE prices will be around $65k-$75k and Cat B COE will be around $75k-$85k. This is more equitable to all.

28 & 29
Combined Annual 120k
4Room HDB with 430k loan, bought from hdb at 500k, market value around 600k.
140k in stocks and cash

should i pay off my flat asap? or slowly pay off?

Originally Posted by Unregistered

28 & 29
Combined Annual 120k
4Room HDB with 430k loan, bought from hdb at 500k, market value around 600k.
140k in stocks and cash

should i pay off my flat asap? or slowly pay off?

Pay off as fast as possible. Then focus on building up your CPF balance. It feels good to be debt free. If you lose your job at any time in the future, you have less of a worry. You are overleveraged now. The ideal LTV (loan to value ratio), in my opinion, is 30%. You should clear your mortgage by the time you reach 40.

Originally Posted by Unregistered

28 & 29
Combined Annual 120k
4Room HDB with 430k loan, bought from hdb at 500k, market value around 600k.
140k in stocks and cash

should i pay off my flat asap? or slowly pay off?

I would not rush to pay it off, for the following reasons:

(1) Housing loan is the cheapest in town - it is a good debt, so to speak
(2)Consider the time value of money. If you pay off now, you are using today's value of your cash/CPF.
(3) It is important to keep some liquidity for emergencies
(4) You are young and have a longer runway to then grow your cash