How much are you earning per annum?

Smart move. This shows you don't need so much to retire like a big boss in Penang. Just need your valuable HDB flat asset, CPF Life and stock investments.

Originally Posted by Unregistered

Our retirement plan at 55 (retire in Penang, beachfront)

Passive income at 55
Rent out HDB flat (fully paid up) S$2.5k pm
Stocks dividends S$2.5k pm
Total S$5k pm or RM15k pm

Penang cost of living
Rent a 3 bedroom luxury beachfront condominium RM3k pm
Car expenses RM500 pm (assume buy car in cash RM50k)
Food, groceries, restaurants and utilities RM2k pm
Medical and entertainment RM1k pm
Misc RM500 pm
Total spending RM7k pm
Savings RM8k pm

Passive income at 65
Rent out HDB flat (fully paid up) S$2.5k pm
Stocks dividends S$3k pm
CPF Life S$3.5k pm
Total income S$9k pm or RM27k pm
Total spending RM10k pm
Savings RM17k pm

Originally Posted by Unregistered

Smart move. This shows you don't need so much to retire like a big boss in Penang. Just need your valuable HDB flat asset, CPF Life and stock investments.

We must be thankful to have the opportunity to buy our cheap BTO flat. This is one asset which no other people in the world has privelege to. Our BTO flat has the ability to generate income. In a situation if a couple gets retrenched but has paid up their BTO flat, they have the option to rent out their flat for $2.5k (after MOP) and move to JB. They can rent a brand new 3 bedroom condo in JB for only RM1k pm. Their $2.5k will be RM7.5k. They can survive with that while they look for a new job.

COE prices is resuming its uptrend. Those who have bought your new car are lucky as prices will now go higher and higher. Huat Ah!!!!!

Originally Posted by Unregistered

COE prices is resuming its uptrend. Those who have bought your new car are lucky as prices will now go higher and higher. Huat Ah!!!!!

I am glad to have gotten my COE before the upcoming hike. Now I can travel around in comfort without squeezing in the trains.

Next up will be to get a second property for investment, probably in 2016 before interest rates start to go up.

Originally Posted by Unregistered

I am glad to have gotten my COE before the upcoming hike. Now I can travel around in comfort without squeezing in the trains.

Next up will be to get a second property for investment, probably in 2016 before interest rates start to go up.

Car sales person again.... Knows a little about property market but not enough....

What do I mean?

a) banks are now no longer offering fixed Rates, its floating rates now so when ir goes up, you will still get it..
b) for people getting a second property, ir is peanuts. The killer is ABSD. 5% or 10. That's a cool 50k to 100k on a 1 million property. Upfront and not cumulatively 20 years down the road....

Free education..

Originally Posted by Unregistered

Car sales person again.... Knows a little about property market but not enough....

What do I mean?

a) banks are now no longer offering fixed Rates, its floating rates now so when ir goes up, you will still get it..
b) for people getting a second property, ir is peanuts. The killer is ABSD. 5% or 10. That's a cool 50k to 100k on a 1 million property. Upfront and not cumulatively 20 years down the road....

Free education..

Ha ha ha.

Free education for yourself.

Fixed rates are still available, but floating rates are lower and there is always the option of refinancing.

ABSD is 7% on a second residential property.

If you don't talk, nobody will know you're stupid.

Originally Posted by Unregistered

COE prices is resuming its uptrend. Those who have bought your new car are lucky as prices will now go higher and higher. Huat Ah!!!!!

I saw a report saying CoE will reach $200k by Y2025. Will that come true?

Originally Posted by Unregistered

I saw a report saying CoE will reach $200k by Y2025. Will that come true?

I think Cat A will reach $150k

Originally Posted by Unregistered

I think Cat A will reach $150k

I better go and convince my wife to buy a new car!!

If not I will miss the boat to get it at cheap $60k+COE

Originally Posted by Unregistered

I better go and convince my wife to buy a new car!!

If not I will miss the boat to get it at cheap $60k+COE

$60k COE is very cheap. You are paying only $6k per year for COE. If a couple earns $200k pa, this is only 3% of income. There are couples earning more than $500k pa, so what is $60k for 10 years? No big deal. LOL. What is your combined income?