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How much are you earning per annum?

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  #8421 (permalink)  
Old 19-08-2015, 12:30 AM
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I am 52 and i have 198k in my SA. Like you, i maxed out my SA many years ago.
What's your household (you and spouse) total net worth?

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  #8422 (permalink)  
Old 19-08-2015, 07:52 PM
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52 & 53 married couple living in a fully paid condo unit worth $1.5m. Our kids are grown up and will likely move to their BTO flat when we reach 55.

When we reach 55, we will buy the new 2 room flexi BTO costing $80k only. We will sell our condo for $1.5m and buy dividend stocks giving 5% pa or $75k pa or $6.25k pm. When we reach 65, we will get an extra $3.5k pm or $42k pa. our passive income will be $117k pa. our children don't need to give us any allowance, if they do it will be a bonus which we can enjoy.

We look forward to retire at 58, assuming the BTO flat is ready in 3 years.

We are happy that we can buy cheap BTO flats. This is fair as people who bought BTO flat are allowed to buy condo after MOP. Currently private property owners cannot own any HDB flats, whether BTO or resale. Very fair indeed. We are very happy to be able to retire at 58 since it will only cost us $80k (40 years lease) to buy our new retirement home. Very, very cheap. Like paying rental of only $166 pm over 40 years. Very fair indeed.

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  #8423 (permalink)  
Old 19-08-2015, 08:02 PM
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Good for you.

If you are still working, at 55, your SA amount will grow by:

1. 3 year of interest earned by your SA = (5% x 40k)x3 + 158k x 4% x 3 (using simple interest) = $6k + $18.96k = $24.96k

2. 3 year continuing contribution ($525 pm) = $6.3k x 3 = $18.9k

So at 55, your SA will grow to : $198k + $24.96 + $18.9k = $241.86k at least.

If you are no longer working, then your SA will grow to $222.96k when you reach 55 just by simple interest calculation. It will be more in reality because the interest should be compounded.





Quote:
Originally Posted by Unregistered View Post
I am 52 and i have 198k in my SA. Like you, i maxed out my SA many years ago.

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  #8424 (permalink)  
Old 20-08-2015, 08:30 AM
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Good idea. Enjoy your retirement. With your money, you can travel the world for the next 30 years or until you die. Don't have to wait until you're 60 to retire. You may die sooner than you think. Also you don't have to leave behind so much wealth for your children because they will just enjoy your hard earned wealth and spend it away to enjoy the good life. Leave behind some for charity as the poor will need it most. I am planning to retire at 50 as I have achieved the coveted millionaire status.


Quote:
Originally Posted by Unregistered View Post
52 & 53 married couple living in a fully paid condo unit worth $1.5m. Our kids are grown up and will likely move to their BTO flat when we reach 55.

When we reach 55, we will buy the new 2 room flexi BTO costing $80k only. We will sell our condo for $1.5m and buy dividend stocks giving 5% pa or $75k pa or $6.25k pm. When we reach 65, we will get an extra $3.5k pm or $42k pa. our passive income will be $117k pa. our children don't need to give us any allowance, if they do it will be a bonus which we can enjoy.

We look forward to retire at 58, assuming the BTO flat is ready in 3 years.

We are happy that we can buy cheap BTO flats. This is fair as people who bought BTO flat are allowed to buy condo after MOP. Currently private property owners cannot own any HDB flats, whether BTO or resale. Very fair indeed. We are very happy to be able to retire at 58 since it will only cost us $80k (40 years lease) to buy our new retirement home. Very, very cheap. Like paying rental of only $166 pm over 40 years. Very fair indeed.


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  #8425 (permalink)  
Old 20-08-2015, 08:57 AM
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Default Formula-fed sea unwell, acetabulum deltoid, examinations novo.

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  #8426 (permalink)  
Old 20-08-2015, 11:35 PM
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Quote:
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What's your household (you and spouse) total net worth?
3m. Plan to retire at 55.
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  #8427 (permalink)  
Old 21-08-2015, 11:34 PM
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3m. Plan to retire at 55.
Any debts?
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  #8428 (permalink)  
Old 21-08-2015, 11:35 PM
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Quote:
Originally Posted by Unregistered View Post
52 & 53 married couple living in a fully paid condo unit worth $1.5m. Our kids are grown up and will likely move to their BTO flat when we reach 55.

When we reach 55, we will buy the new 2 room flexi BTO costing $80k only. We will sell our condo for $1.5m and buy dividend stocks giving 5% pa or $75k pa or $6.25k pm. When we reach 65, we will get an extra $3.5k pm or $42k pa. our passive income will be $117k pa. our children don't need to give us any allowance, if they do it will be a bonus which we can enjoy.

We look forward to retire at 58, assuming the BTO flat is ready in 3 years.

We are happy that we can buy cheap BTO flats. This is fair as people who bought BTO flat are allowed to buy condo after MOP. Currently private property owners cannot own any HDB flats, whether BTO or resale. Very fair indeed. We are very happy to be able to retire at 58 since it will only cost us $80k (40 years lease) to buy our new retirement home. Very, very cheap. Like paying rental of only $166 pm over 40 years. Very fair indeed.
Dividend stock sure win??
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  #8429 (permalink)  
Old 21-08-2015, 11:36 PM
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Married couple with a middle class lifestyle, living on a combined income of $175k pa. Saves $40k pa. Fortunate to move to a condo after selling our flat many years ago. Now condo is worth $1.5m and we have cleared our mortgage. We just changed our car, paid full in cash after selling our old car.

Our CPF funds and cash are $700k. Hence our total net worth is $2.2m. Do you think we can retire in 10 years time when we turn 55? Can someone offer us some advice? Currently we don't invest in stocks as we are afraid of losing our money. Looking at the stock market now, we feel clever as we avoided huge losses that many of our friends and colleagues are suffering now. We are thinking of downgrading at 55 to get cash and relying on our CPF Life. Can those who are financially smart advise? Thank you.
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  #8430 (permalink)  
Old 22-08-2015, 08:30 AM
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Default Window of opportunity

Hey guys, been busy reviewing my investment holding last few days as the stock markets everywhere is roiling. In Singapore market many blue chips are now not only affordable but some are actually going below their NAV. If you have not been investing, now is a good opportunity to sit up and take notice.

Going by past trends, after the stock market turns bearish which is happening now, the economy would also tank 6 months later.

So for those in stable jobs, prepare your war chest and get ready to pick bargains both in stocks and property.

Come middle next year, you could be boasting about the gains you make from this window of opportunity.

I started to slowly nibble at some of the stocks that I had my eye on for sometime. I will be looking to add some bank counters to my collection also.
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