How much are you earning per annum?

Originally Posted by Unregistered

With the huge number of car deregistration, there will also be a huge number of replacement demand for new cars. Hence, the increase in COEs in May - July 2015 will be met by replacement demand plus new demand from new buyers. There will also be buyers who plan to sell their 5 year old car or older to buy now instead of 2018 and beyond as we can expect COE to hit $100k and above in 2018 and beyond since there is no clawback.

There is also the issue of additional demand from:

1. New buyers who now can afford as family income increased. 10 years ago, not many families have household income of $100k pa but nowadays it is common for households to have income of $100k pa or more. These households would aspire to buy a new car to show that they have progressed. These families can afford a $100k car as the depreciation cost is only $10k pa. They can still collect the PARF value when they scrap their cars. $10k pa is affordable as it only represent 10% of their household income per year.

2. Demand from BTO flat flippers. These people buy a BTO flat for $200k and then after MOP flip the flat for $450k. They make profit and can use the cash profit to buy a new car in cash.

3. Families are now buying two or more cars. These are rich people who got rich from their salaries, stocks, businesses and properties.

4. New graduates are now easily earning $100k pa so a top performing graduate couple can earn $200k pa easily. They can change to new cars every few years.

5. Many Singaporeans are rich.

Luckily I got my Altis at $99k. I can then sell at a profit in 2018. Thanks to the car dealer advise. Huat ah!

Originally Posted by Unregistered

Luckily I got my Altis at $99k. I can then sell at a profit in 2018. Thanks to the car dealer advise. Huat ah!

Good for you. What's your profile like? How old? How much you earn? Where do you stay and what's your total net worth?

Originally Posted by Unregistered

With the huge number of car deregistration, there will also be a huge number of replacement demand for new cars. Hence, the increase in COEs in May - July 2015 will be met by replacement demand plus new demand from new buyers. There will also be buyers who plan to sell their 5 year old car or older to buy now instead of 2018 and beyond as we can expect COE to hit $100k and above in 2018 and beyond since there is no clawback.

There is also the issue of additional demand from:

1. New buyers who now can afford as family income increased. 10 years ago, not many families have household income of $100k pa but nowadays it is common for households to have income of $100k pa or more. These households would aspire to buy a new car to show that they have progressed. These families can afford a $100k car as the depreciation cost is only $10k pa. They can still collect the PARF value when they scrap their cars. $10k pa is affordable as it only represent 10% of their household income per year.

2. Demand from BTO flat flippers. These people buy a BTO flat for $200k and then after MOP flip the flat for $450k. They make profit and can use the cash profit to buy a new car in cash.

3. Families are now buying two or more cars. These are rich people who got rich from their salaries, stocks, businesses and properties.

4. New graduates are now easily earning $100k pa so a top performing graduate couple can earn $200k pa easily. They can change to new cars every few years.

5. Many Singaporeans are rich.

Mr car salesman strikes again.

Muacks muacks. 3333333

Originally Posted by Unregistered

Good for you. What's your profile like? How old? How much you earn? Where do you stay and what's your total net worth?

Profile - human

How old - old enuff

How much I earn - high enuff

Where I stay - somewhere

Total net worth - a lot

Originally Posted by Unregistered

44 & 46, working couple. Makes $170k pa combined.
Lives in a 2 year old 3 bedroom condo, worth $1.2m, paid up.
Drives a 1 year old car, paid up.
Made money from investments over many years. Invested heavily when people were panicking during the 2008 financial crisis.
Total net worth, $2.4m. Debt free.

You are very lucky. I'm around your age but my performance is not as great as yours. Our total income is only $110k pa. We live in a 5 room HDB flat only and our car is 5 years old. You are very smart in investing but we don't know and don't dare to invest so we didn't lose nor gain. In a way this was good for us as many of our friends and relatives lost a lot of money in playing stocks. Our net worth is only $800k in total.

Originally Posted by Unregistered

You are very lucky. I'm around your age but my performance is not as great as yours. Our total income is only $110k pa. We live in a 5 room HDB flat only and our car is 5 years old. You are very smart in investing but we don't know and don't dare to invest so we didn't lose nor gain. In a way this was good for us as many of our friends and relatives lost a lot of money in playing stocks. Our net worth is only $800k in total.

Investing is a double-edged sword.I lost roughly about $300K in Lehman Brothers bonds . They are triple AAA bonds that time.Now, I do not invest and park my money in Fixed deposits. I know inflation beats the low interest rate in F.D, but that at least better than losing your principal money invested.
I see too much youngster nowadays talking about investing, making big bucks and early retirement. This is unrealistic.
Remember this: For every winner, there is another loser.

Actually, you are doing not so bad yourself. Your family is fortunate to own a car. As long as you own your home without any loan when you retire at 65, you should be ok. Here is what you and spouse can get upon retirement:

1. CPF Life $3500 pm ($1750 pm each)
2. Room rentals $2000 pm (rent out two rooms at $1000 per room)
3. Children's contributions $1000 pm (from two kids, each giving $500 pm)

Your total passive income will be $6,500 pm or $78,000 pa. Hence, you both can retire comfortably.

Originally Posted by Unregistered

You are very lucky. I'm around your age but my performance is not as great as yours. Our total income is only $110k pa. We live in a 5 room HDB flat only and our car is 5 years old. You are very smart in investing but we don't know and don't dare to invest so we didn't lose nor gain. In a way this was good for us as many of our friends and relatives lost a lot of money in playing stocks. Our net worth is only $800k in total.

Originally Posted by Unregistered

Actually, you are doing not so bad yourself. Your family is fortunate to own a car. As long as you own your home without any loan when you retire at 65, you should be ok. Here is what you and spouse can get upon retirement:

1. CPF Life $3500 pm ($1750 pm each)
2. Room rentals $2000 pm (rent out two rooms at $1000 per room)
3. Children's contributions $1000 pm (from two kids, each giving $500 pm)

Your total passive income will be $6,500 pm or $78,000 pa. Hence, you both can retire comfortably.

nobody in their right mind would want to rent out rooms and have strangers sharing the same house.

Originally Posted by Unregistered

Actually, you are doing not so bad yourself. Your family is fortunate to own a car. As long as you own your home without any loan when you retire at 65, you should be ok. Here is what you and spouse can get upon retirement:

1. CPF Life $3500 pm ($1750 pm each)
2. Room rentals $2000 pm (rent out two rooms at $1000 per room)
3. Children's contributions $1000 pm (from two kids, each giving $500 pm)

Your total passive income will be $6,500 pm or $78,000 pa. Hence, you both can retire comfortably.

People of unsound mind planning to compromise privacy and yet claim to retire comfortably.

Still want to look forward to your children's handouts? Why can't you let them do their planning based on their income. They may be having much more financial burden than you do !

Why can't you do a proper planning for next 15 to 20 years?

Originally Posted by Unregistered

People of unsound mind planning to compromise privacy and yet claim to retire comfortably.

Still want to look forward to your children's handouts? Why can't you let them do their planning based on their income. They may be having much more financial burden than you do !

Why can't you do a proper planning for next 15 to 20 years?

You are obnoxious and arrogant. Don't you know that there are many seniors who are now relying on their room rentals and contributions from their children for their retirement? Not many people earn high income to be able to save enough for their retirement. Whatever they earn goes to feed the family and pay the mortgage. Just because you are rich, doesn't mean you have the right to look down on others. If you lose your job now, then you know how it feels. Think before you open your mouth.