Unregistered |
07-03-2015 01:38 PM |
You are doing very well. Why?
1. You own and live in a condo. More than 80% of Singaporeans live in HDB flat. So you are among the lucky top 10-15% of Singaporean households.
2. You own a car. Many families don't own a car.
3. You can retire easily. Just go for the $241,500 CPF Life scheme for both you and wife. You will get $3500 pm as a retired couple at 65. Your kids can give you $2000 pm (two kids) and you stocks dividends can give you $1000 pm. So your passive income is $6,500 pm which is sufficient for your retirement.
Quote:
Originally Posted by Unregistered
(Post 63742)
45 & 43, married couple with two secondary school children. Our combined income is $140k pa. We sold our fully paid HDB flat for $600k and bought a resale condo for $1.1m. Paid downpayment of $600k and took a mortgage loan of $500k.
Ever since we lived in a condo, we felt very happy to enjoy the privacy, security and social status. The facilities are really nice. Our kids enjoy the swimming pool very much.
Our combined net worth:
Condo (net of loan) $600k
Stocks $65k
Cash and CPF funds $485k
Car $50k
Total combined net worth $1.2m
How are we doing?
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