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If you ever lost your jobs, you can simply retire and since you have been living in a HDB flat, it is much easier to adjust socially. You don't have to downgrade and hence avoiding all sorts of questions from relatives and friends. Imagine if are living in a big house now and you lose your jobs, you will have to downgrade as you no longer able to service the big loan and this invites queries from people. Fyi, many from finance, esp those in FO, makes their money fast and retire in their forties. |
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As long as the economy is doing okay, we think our employers / careers should be fine. Our function while not revenue generating are essential in all financial institutions so at most we take a pay cut and take whatever jobs come our way. having socked away savings all these years and assessing that our annual savings rate can't go up significantly going forward, our attention is turning to "asset enhancement" meaning trying to get a better return on our principal sum. Rather than just saving in a bank, or investing in unit trust, we diversify selectively in pty and hedge funds. While the latter are higher risk, we think we can ride through the ups and downs and come out better otherwise. |
i used to be a high flyer in FO, got sick of the fast paced, stressful lifestyle with no family life and finally decided to quit in my early 40s. sold my landed property for a big profit, consolidated my wealth and am now retired. i downgraded to a smaller sized home, a penthouse unit which i fully paid up. i am debt free. now i manage my own investments which generates enough income for my family and i to live comfortably for many, many years.
i now lead a more meaningful, contented life with lots of time to spend with my family members, esp my kids and old parents. Quote:
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I'm 48 this year, my annual income is $137k pa. I save $35k pa.
My wife is 42, her annual income is $115k pa. She saves $30k pa. We live in a condo now worth $1.5m, with mortgage outstanding $500k. Our cash and CPF balances $500k. Our net worth in total $1.5m. We have 3 children who loves the condo and its facilities. We spend our weekends going to malls and eating at nice restaurants. We drive a one year old SUV with a loan of $60k remaining. We go for a long holiday once a year in Dec. We enjoy our middle class lifestyle. We plan to retire at 60 if possible and if not possible, then at 65. Life is good. |
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me and myself have narrowed down our choice Likely to buy a new Altis this weekend before the government starts to cold storage the quota for the famine years later. |
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dont want to caught in a situation if CatA shoots back to $75k Thanks for the great advise |
Great advise from an unsound mind
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Really a great advise from an unsound mind. If H1 earning $75k now, in 20 years time he should earn 350k a year. and H2 earn $70k now should earn 326k then. Still need to depends on their kids ? Still have to rent out 2 rooms for supplement? Don't tell me all S'porean should think the way you want your life to be? Don't tell me all S'porean don't treasure privacy? |
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Hidden agenda, beware! |
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