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How much are you earning per annum?

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  #7771 (permalink)  
Old 02-06-2015, 09:09 PM
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My other assets are cash and CPF (OA, SA, MA) $300k in total. So my net worth is $1.4m. I don't have investments as I don't know much about investments. What should I do to retire at 60?
Do you have cash saved up for your kids? Are they young or in uni? 30k pa savings is almost sufficient, assuming you have $0 now, you still have 12 years more before you reach 60. If your retirement expenses are 30k, that means you can still survive from 60 to 72 on the savings you accumulate from 48 to 60. That will mean 2.5k per month, plus around 1k from CPF Life. Should be possible if you no longer need to spend on kids.

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  #7772 (permalink)  
Old 02-06-2015, 09:46 PM
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My other assets are cash and CPF (OA, SA, MA) $300k in total. So my net worth is $1.4m. I don't have investments as I don't know much about investments. What should I do to retire at 60?
One strategy for your retirement is to opt for the CPF Life enhanced scheme for you and wife. Make sure you top up your wife's CPF Special Account (using your annual savings of $30k pa) so that both of you can enjoy a payout of $1750 pm each from age 65 onwards. As a couple, you get $3500 pm. Your children should be able to afford to give you both $1000 pm ($500 for you and $500 for your wife). If you have two kids, then you will get $2000 pm from your kids. So your total passive income will be $5500 pm. I think you should retire at 65 and not 60 as your CPF Life payout only starts at 65.

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  #7773 (permalink)  
Old 03-06-2015, 09:24 AM
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I earn $60k pa while wife earns $80k pa. Our four room flat, bought many years ago, is paid up and now worth $450k. Even though our earnings are not high, we are frugal and don't spend unnecessarily. We survived without a maid and buy only cheap cars to travel.

We are now already a millionaire couple as our total net worth (including our home) is now worth $1.08m. We are only 43, 42 years old. By the time we retire at 62, our total net worth will reach $2m. We will be a retired millionaire couple in 20 years time.



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  #7774 (permalink)  
Old 03-06-2015, 01:19 PM
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Congratulations on your big achievement! Not many people are debt free at your age. You are among the successful few who own their home outright and becoming a millionaire couple. There are people who own a $1.5m condo but loan $1m. These people will be slaves to their home whereas you own your home. If they lose their jobs, they will be in big trouble.

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Originally Posted by Unregistered View Post
I earn $60k pa while wife earns $80k pa. Our four room flat, bought many years ago, is paid up and now worth $450k. Even though our earnings are not high, we are frugal and don't spend unnecessarily. We survived without a maid and buy only cheap cars to travel.

We are now already a millionaire couple as our total net worth (including our home) is now worth $1.08m. We are only 43, 42 years old. By the time we retire at 62, our total net worth will reach $2m. We will be a retired millionaire couple in 20 years time.
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  #7775 (permalink)  
Old 03-06-2015, 02:08 PM
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Congratulations on your big achievement! Not many people are debt free at your age. You are among the successful few who own their home outright and becoming a millionaire couple. There are people who own a $1.5m condo but loan $1m. These people will be slaves to their home whereas you own your home. If they lose their jobs, they will be in big trouble.
1) Nothing great. Trying asking anybody who starts early where house price was affordable 10 - 20 years ago. Most of them paid off their housing by now.

2) Those are the "upgrade fools" who got themselves believed properties agent's lies, slaved due to bank loan. Poor people.
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  #7776 (permalink)  
Old 04-06-2015, 01:56 PM
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Today COE looks to drop.... Huat ah!
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  #7777 (permalink)  
Old 04-06-2015, 02:06 PM
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Quote:
Originally Posted by Unregistered View Post
I earn $60k pa while wife earns $80k pa. Our four room flat, bought many years ago, is paid up and now worth $450k. Even though our earnings are not high, we are frugal and don't spend unnecessarily. We survived without a maid and buy only cheap cars to travel.

We are now already a millionaire couple as our total net worth (including our home) is now worth $1.08m. We are only 43, 42 years old. By the time we retire at 62, our total net worth will reach $2m. We will be a retired millionaire couple in 20 years time.
WAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA H!

good for you
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  #7778 (permalink)  
Old 04-06-2015, 03:35 PM
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WAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA H!

good for you
We are lucky to be a millionaire couple at such an early age. We know there are not many millionaire couples among our peers. Most millionaire couples are in their 60s.


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  #7779 (permalink)  
Old 04-06-2015, 03:44 PM
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We are lucky to be a millionaire couple at such an early age. We know there are not many millionaire couples among our peers. Most millionaire couples are in their 60s.
Can you lend me some money. Thanks in advance mr millionaire
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  #7780 (permalink)  
Old 04-06-2015, 04:07 PM
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Cat A $66k
Cat B $76k

Hardly dropped from last bidding.
Next bidding is last chance to get cheap COE.
Don't listen to idiot who said COE will drop to $30k.
Huat Ah!!!!
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