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How much are you earning per annum?

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  #7331 (permalink)  
Old 19-04-2015, 07:03 PM
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Since you are both so rich, why not you set aside 50% of your income to charity? This is noble and makes you happy.


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Originally Posted by Unregistered View Post
Any advice for a mid and late 20s couple on how to accelerate growth of wealth?

Him: $500k / annum
Her: $120k / annum

Both in Finance albeit different fields.

Combined Networth: Slightly over a million.

Not interested in property now especially residential due to pathetic yields and a massively overbought market.

More keen on startups and business partnerships.

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  #7332 (permalink)  
Old 19-04-2015, 09:21 PM
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Huge backlog of orders means COE likely to stay high: Analysts

By Xue Jianyue, TODAY
17 Apr 2015 07:18
URL: ://w w w.channelnewsasia.com/news/singapore/huge-backlog-of-orders/1789898.html

TODAY reports: Any drop in premiums is likely to be marginal in future bidding exercises, analysts and motor dealers say.

SINGAPORE: Despite the sharp rise in the COE quota for the next three months, those holding out for a reprieve from rising COE premiums are likely to be disappointed.

Any drop in premiums is likely to be marginal in future bidding exercises, analysts and motor dealers told TODAY.

A huge backlog of orders — many from owners of deregistered cars waiting for COE premiums to fall — will keep premiums high, said motor dealers, pointing to the large number of bids made by the end of the latest bidding exercise last week.

For example, more than 2,340 bids were made for only 988 small-car certificates, said Singapore Vehicle Traders Association (SVTA) honorary secretary Raymond Tang.

“There is still a lot of backlog in the market,” he said. “You have more than 14,000 COEs, but it is still not enough.”

Indeed, COE premiums have continued to climb despite the sizeable COE quota for February to April. The quota was the largest since last February until the latest crop announced on Thursday. Increases across the board were seen in the latest bidding exercise, with Open Category premiums at a 12-month high of S$78,000.

Customers are also rushing to buy vehicles before more stringent conditions kick in through rebates and surcharges under the Carbon Emissions-Based Vehicle Scheme (CEVS) on Jul 1, said CarTimes’ managing director Eddie Loo and SVTA president Neo Tiam Ting.

The CEVS is aimed at encouraging the purchase of low-carbon-emission vehicles. The carbon-dioxide limits will be lowered with the revision, which could mean rebate cuts or surcharge hikes.

“A lot are rushing in to register in order to get the higher rebate, and because of that, the actual drop in premiums will not be much,” said Mr Neo.

Currently, COE quotas are determined by the allowed annual vehicle growth rate of 0.25 per cent, the number of vehicle deregistrations, adjustments for changes in the taxi population, replacement of commercial vehicles under the Early Turnover Scheme and expired COEs.

Vehicle deregistrations make up the bulk of supply.

With many buyers unaware of these reasons and rushing in to bid, they contribute to the high premiums they are hoping to avoid, said National University of Singapore transport analyst Lee Der Horng.

The link between COE quota numbers and deregistration will cause fluctuations in the market when deregistration numbers fall around 2019, a situation which is “not healthy” for motor dealers and customers, he said.

“Consumers may face greater uncertainty in COE premiums. Dealers will need to adjust business operations to accommodate this increased demand. After a few years, they will need to slim down. What they want to have is a stable COE supply,” said Professor Lee.

Although the increase in COEs presents dealers with increased sales opportunities, dealers said they were mindful of pushing sales too aggressively with steep discounts.

“No point selling and not being able to deliver the car. It doesn’t look good on the car agent,” said Mr Loo.

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  #7333 (permalink)  
Old 19-04-2015, 09:53 PM
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Hints of Claw back in his message.... No wonder everyone chiong in to buy.

".....The link between COE quota numbers and deregistration will cause fluctuations in the market when deregistration numbers fall around 2019, a situation which is “not healthy” for motor dealers and customers, he said......"

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  #7334 (permalink)  
Old 19-04-2015, 10:47 PM
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Quote:
Originally Posted by Unregistered View Post
Here is how many people can afford to buy a new car by flipping their BTO flat.

1. Bought their 4 room BTO flat in Punggol in 2009 for $250k
2. Sold their BTO flat after 5 years MOP in 2014 for $450k
3. Profit $200k cash
4. If their outstanding loan was $150k at the time of sale, their proceeds will be $300k
5. Use $50k cash from profit to pay for new car downpayment for a $100k car
6. Use the balance $250k (cash & CPF) for downpayment for another flat

So, thanks to the property market, many people can now buy new cars. So we can expect COE prices to continue rising.
Thanks for the brilliant idea!!!!!

I decided to sell my home and buy a car and pay it in full. Now I just need to find a place to shower and pee and poo.
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  #7335 (permalink)  
Old 19-04-2015, 10:49 PM
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Quote:
Originally Posted by Unregistered View Post
Can also consider sell own back side to get free petrol. Running costs also taken care of. Huat ah!!!
How much is a back side worth? Can advise?
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  #7336 (permalink)  
Old 20-04-2015, 09:25 AM
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Huge backlog of orders means COE likely to stay high: Analysts

By Xue Jianyue, TODAY
17 Apr 2015 07:18
URL: ://w w w.channelnewsasia.com/news/singapore/huge-backlog-of-orders/1789898.html

TODAY reports: Any drop in premiums is likely to be marginal in future bidding exercises, analysts and motor dealers say.

SINGAPORE: Despite the sharp rise in the COE quota for the next three months, those holding out for a reprieve from rising COE premiums are likely to be disappointed.

Any drop in premiums is likely to be marginal in future bidding exercises, analysts and motor dealers told TODAY.

A huge backlog of orders — many from owners of deregistered cars waiting for COE premiums to fall — will keep premiums high, said motor dealers, pointing to the large number of bids made by the end of the latest bidding exercise last week.

For example, more than 2,340 bids were made for only 988 small-car certificates, said Singapore Vehicle Traders Association (SVTA) honorary secretary Raymond Tang.

“There is still a lot of backlog in the market,” he said. “You have more than 14,000 COEs, but it is still not enough.”

Indeed, COE premiums have continued to climb despite the sizeable COE quota for February to April. The quota was the largest since last February until the latest crop announced on Thursday. Increases across the board were seen in the latest bidding exercise, with Open Category premiums at a 12-month high of S$78,000.

Customers are also rushing to buy vehicles before more stringent conditions kick in through rebates and surcharges under the Carbon Emissions-Based Vehicle Scheme (CEVS) on Jul 1, said CarTimes’ managing director Eddie Loo and SVTA president Neo Tiam Ting.

The CEVS is aimed at encouraging the purchase of low-carbon-emission vehicles. The carbon-dioxide limits will be lowered with the revision, which could mean rebate cuts or surcharge hikes.

“A lot are rushing in to register in order to get the higher rebate, and because of that, the actual drop in premiums will not be much,” said Mr Neo.

Currently, COE quotas are determined by the allowed annual vehicle growth rate of 0.25 per cent, the number of vehicle deregistrations, adjustments for changes in the taxi population, replacement of commercial vehicles under the Early Turnover Scheme and expired COEs.

Vehicle deregistrations make up the bulk of supply.

With many buyers unaware of these reasons and rushing in to bid, they contribute to the high premiums they are hoping to avoid, said National University of Singapore transport analyst Lee Der Horng.

The link between COE quota numbers and deregistration will cause fluctuations in the market when deregistration numbers fall around 2019, a situation which is “not healthy” for motor dealers and customers, he said.

“Consumers may face greater uncertainty in COE premiums. Dealers will need to adjust business operations to accommodate this increased demand. After a few years, they will need to slim down. What they want to have is a stable COE supply,” said Professor Lee.

Although the increase in COEs presents dealers with increased sales opportunities, dealers said they were mindful of pushing sales too aggressively with steep discounts.

“No point selling and not being able to deliver the car. It doesn’t look good on the car agent,” said Mr Loo.
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  #7337 (permalink)  
Old 20-04-2015, 06:36 PM
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My spouse and I are in our late 40s and we earn a combined income of $220k pa. While we earn quite a good amount, our expenses are high due to many commitment. We only save $50k pa.

Our expenses are:

1. Condo monthly mortgage payments.
2. Car loan, petrol, insurance, road tax, maintenance and repair.
3. Parents allowance (both sides)
4. Food, groceries, utilities.
5. Maid's salary and levy.
6. Children's pocket money, individual tuition, piano and enrichment lessons.
7. Family insurance.
8. Overseas holidays, twice a year.
9. Clothings and eating out.

Do you have the same experience?

How can we prepare for retirement?


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  #7338 (permalink)  
Old 20-04-2015, 08:11 PM
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Quote:
Originally Posted by Unregistered View Post
Huge backlog of orders means COE likely to stay high: Analysts

By Xue Jianyue, TODAY
17 Apr 2015 07:18
URL: ://w w w.channelnewsasia.com/news/singapore/huge-backlog-of-orders/1789898.html

TODAY reports: Any drop in premiums is likely to be marginal in future bidding exercises, analysts and motor dealers say.

SINGAPORE: Despite the sharp rise in the COE quota for the next three months, those holding out for a reprieve from rising COE premiums are likely to be disappointed.

Any drop in premiums is likely to be marginal in future bidding exercises, analysts and motor dealers told TODAY.

A huge backlog of orders — many from owners of deregistered cars waiting for COE premiums to fall — will keep premiums high, said motor dealers, pointing to the large number of bids made by the end of the latest bidding exercise last week.

For example, more than 2,340 bids were made for only 988 small-car certificates, said Singapore Vehicle Traders Association (SVTA) honorary secretary Raymond Tang.

“There is still a lot of backlog in the market,” he said. “You have more than 14,000 COEs, but it is still not enough.”

Indeed, COE premiums have continued to climb despite the sizeable COE quota for February to April. The quota was the largest since last February until the latest crop announced on Thursday. Increases across the board were seen in the latest bidding exercise, with Open Category premiums at a 12-month high of S$78,000.

Customers are also rushing to buy vehicles before more stringent conditions kick in through rebates and surcharges under the Carbon Emissions-Based Vehicle Scheme (CEVS) on Jul 1, said CarTimes’ managing director Eddie Loo and SVTA president Neo Tiam Ting.

The CEVS is aimed at encouraging the purchase of low-carbon-emission vehicles. The carbon-dioxide limits will be lowered with the revision, which could mean rebate cuts or surcharge hikes.

“A lot are rushing in to register in order to get the higher rebate, and because of that, the actual drop in premiums will not be much,” said Mr Neo.

Currently, COE quotas are determined by the allowed annual vehicle growth rate of 0.25 per cent, the number of vehicle deregistrations, adjustments for changes in the taxi population, replacement of commercial vehicles under the Early Turnover Scheme and expired COEs.

Vehicle deregistrations make up the bulk of supply.

With many buyers unaware of these reasons and rushing in to bid, they contribute to the high premiums they are hoping to avoid, said National University of Singapore transport analyst Lee Der Horng.

The link between COE quota numbers and deregistration will cause fluctuations in the market when deregistration numbers fall around 2019, a situation which is “not healthy” for motor dealers and customers, he said.

“Consumers may face greater uncertainty in COE premiums. Dealers will need to adjust business operations to accommodate this increased demand. After a few years, they will need to slim down. What they want to have is a stable COE supply,” said Professor Lee.

Although the increase in COEs presents dealers with increased sales opportunities, dealers said they were mindful of pushing sales too aggressively with steep discounts.

“No point selling and not being able to deliver the car. It doesn’t look good on the car agent,” said Mr Loo.
Dear coward, go start your own thread lah..... That's why my mother said never be a politician and......... A car dealer lol
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  #7339 (permalink)  
Old 21-04-2015, 08:51 AM
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Your experience is not unique. Most of your peers in the same age group are facing the same thing. Only a few extraordinary successful few would have their condo and car fully paid up. Most are still servicing their condo mortgage and car loans. There also many of your age group who just upgraded from their HDB flat to a condo when they are in their 40s. So, you are definitely not alone.

You don't really need to worry about your retirement. Your current high spendings will start to decline in the next few years. You are now at a point in your life cycle where your expenses are the highest due to the responsibilities of raising a family as well as taking care of your aging parents. As time pass by, your kids will grow up, start to work, marry and move out. So your expenses for your kids will drop significantly. Your parents on both side will eventually pass on and your expenses on parents allowance will drop a lot too. Your kids may start giving you a small allowance (don't expect from them though, if they give it will be a bonus). So your savings can possibly increase.

When you reach 65, your mortgage would have been cleared. Your savings could increase gradually and you could have saved another extra $1m. You may no longer need a car nor do you need a maid. So your expenses will drop a lot. Your passive income will come from your CPF Life and dividends. Let's say you choose the enhanced option, you would get $1.75k pm for each person or $3.5k pm (or $42k pa) as a couple. You could get 5% dividend yield from your $1m investment or $50k pa. So your total passive income will be $92k pa. This amount is a big amount for an old retired couple. You could enjoy going short holidays during non peak seasons. How wonderful!


Quote:
Originally Posted by Unregistered View Post
My spouse and I are in our late 40s and we earn a combined income of $220k pa. While we earn quite a good amount, our expenses are high due to many commitment. We only save $50k pa.

Our expenses are:

1. Condo monthly mortgage payments.
2. Car loan, petrol, insurance, road tax, maintenance and repair.
3. Parents allowance (both sides)
4. Food, groceries, utilities.
5. Maid's salary and levy.
6. Children's pocket money, individual tuition, piano and enrichment lessons.
7. Family insurance.
8. Overseas holidays, twice a year.
9. Clothings and eating out.

Do you have the same experience?

How can we prepare for retirement?
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  #7340 (permalink)  
Old 21-04-2015, 11:14 AM
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How much does a 65 year old retired couple today need?

Assuming no more mortgage and debt free, no car and no maid,

1. Food - $500
2. Utilities - $100
3. Public transport and taxi - $100
4. Holidays (pro rated) - $300
5. Helping the poor/donation - $50
7. Healthcare and insurance - $550
6. Miscellaneous - $200

Total - $1800

As you can see, a retired couple who lead a healthy, good life don't really need much.
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