How much are you earning per annum?

Originally Posted by Unregistered

You are indeed enjoying the UPPER MIDDLE CLASS lifestyle. You are among the top 10% of locals who are living in condos and own cars.

You will be able to retire easily at 65.

1. Go for the enhanced cpf life. You will get $3500 pm as a retired couple.
2. Sell your big condo and move to a studio condo.
3. From your downgrade, you will get cash and plus your savings, you should have $1m to invest in 5% dividend yield blue chips giving you $50k pa or $4100 pm.
4. Your kids will each give $500 pm for you and $500 pm for your wife. If you have 2 kids, you will get $2k pm as a couple.
5. So, as a couple, your passive income is $9600 pm or $116,000 pa. I'm sure this is more than enough for an old couple. If you just spend $60,000 pa, you can save $56k pa which you can reinvest to give you additional dividends.

This is what happens when people chase materialism and money, you go bonkers like this chap....i suspect its one or two mentally disturbed people powering this forum...

Originally Posted by Unregistered

This is what happens when people chase materialism and money, you go bonkers like this chap....i suspect its one or two mentally disturbed people powering this forum...

not this forum, only this particular thread.. everytime someone posts something meaningful he will steer the conversation back onto his agenda. Recurring themes are charity work, COE and Altis.

Mod should just shut this thread down.

ministar josephine teo today announce government will not implement the COE clawback
so means that if i continue to wait till 2016, the tsunami of COE quota will cause COE to drop to $30k.

Huat ah everyone!

362k in annual income in 2014, including abt 140k from vb. Iras will be asking me to pay abt 40k in income tax this yr

If there is no claw back in COEs, then it would be best to change our car now rather than in 2019? Because without claw back, we can expect COE to go to $100k in 2019 and beyond? Any comments?

Originally Posted by Unregistered

If there is no claw back in COEs, then it would be best to change our car now rather than in 2019? Because without claw back, we can expect COE to go to $100k in 2019 and beyond? Any comments?

Since there is no claw back as confirmed by singapore government, it is better to wait for the COE tsunami - 100k number of COEs are coming!!

As strait times editor says, COE will drop $30k. Now with no claw back, it could even drop to 20k!!

Heng ah! Poor kan cheong spiders going to suffer paper losses

good news to hear that government is not doing a clawback and allow the flood of COE.
Luckily I think I should get my $99k Altis by the next few bids.
Better get my car by 2020 before the next COE famine wave comes in.... the COE will sky rocket to $150k!

Huat ah. Our government is the best!

Originally Posted by Unregistered

362k in annual income in 2014, including abt 140k from vb. Iras will be asking me to pay abt 40k in income tax this yr

Why pay so little? Effectively you pay only 11% of your total income. Is it true ?

Yes, it is after the deductibles, cpf, ns relief, spouse/children/parents, SRS, donations. Unless you are not citizen or pr.

Originally Posted by Unregistered

Why pay so little? Effectively you pay only 11% of your total income. Is it true ?

Looks like we have many rich Singaporeans as seen in this forum. I suppose a typical Singaporean professional in their 30s and 40s make at least $200k pa. Not surprising why COE prices is expected to rise further despite the rise in COE supply. Many of these people are buying their 2nd or 3rd cars I suppose. Huat Ah!