How much are you earning per annum?

There you go again, automatically assuming other people's children are spendthrifts while for some reason your's are holier then thou

Sour grapes man muahahaha

Originally Posted by Unregistered

Wise move. If you're rich with a net worth of millions, you can even retire now. Don't be like someone who is already 55 and yet still working greedily to earn that extra million to add to the millions he already has. Eventually he will die without spending his millions. His millions will be squandered away by his children who will retire at 30 and they will spend his millions away on partying, gambling, sports cars and women.

Originally Posted by Unregistered

Why not give free tuition to children from poor families?

Have you tried P6 math? If I give tuition, I will just cause the kids to give up or fail.. Haha

With so many rich families in Singapore, not surprising why many people buy new cars. Someone here said his friends who bought their new car in 2013 is changing car soon. So not only those whose car is reaching 10 years are buying. Even those who bought when COE was at $90k plus are buying new cars.

Originally Posted by Unregistered

With so many rich families in Singapore, not surprising why many people buy new cars. Someone here said his friends who bought their new car in 2013 is changing car soon. So not only those whose car is reaching 10 years are buying. Even those who bought when COE was at $90k plus are buying new cars.

Yes. My boss just changed his 2013 E class. He just booked the new 7 series, now with $30k cheaper COE. More worth it as he said....

Don't blindly follow the rich. For the rich, when they buy a car, they are buying with money that they can well spare. For eg, if they have $5m networth which they invested for a modest 5% return, they will earn $250k pa. This can afford them an E200? And that's every year!

For the rest of us, buying a mere Sylphy or Altis will eat into our base and set us further back from building up our retirement goal.

So dont anyhow huat here, huat there.

Originally Posted by Unregistered

With so many rich families in Singapore, not surprising why many people buy new cars. Someone here said his friends who bought their new car in 2013 is changing car soon. So not only those whose car is reaching 10 years are buying. Even those who bought when COE was at $90k plus are buying new cars.

If you want to change to a new car, do it now as COE prices will only go higher in the months ahead. We are seeing high replacement demand from existing owners, additional demand from new drivers who are earning much more, from rich families who are changing to new cars every 2-3 years, from families who are buying their 2nd or 3rd cars for their wives and children. Many rich retirees are also buying new cars to enjoy their retirement. Those who paid $90k+ for their COE in 2013 are also changing to new cars NOW because COE now at $60k is very cheap as it is $30k cheaper than in 2013.

COE prices will continue to go higher towards $70k for Cat A and Cat B will go to $80k. When supply shrinks in 2018-2023, prices could go beyond $100k.

To those who already bought your new car recently, congratulations! Huat Ah!!!!!!!!!!!

Originally Posted by Unregistered

Well, it's true about living a purposeful life. I retired at 42, now I am 45. I am still looking for something to do with myself. Charitable donations, I have given quite a lot already. Traveling I have also done a lot. Thinking of doing some courses or things I have always wanted to learn next. Meanwhile, also thinking of doing some work but I can't imagine working for someone because I used to do my own business.

You are the most succesful person in this forum as you can retire at such a young age. What's your net worth?
How much is your passive income and expenses per year?

My spouse and I are looking forward to a luxurious retirement. Here's our plans.

Retirement plan at 55 (retire in Penang, beachfront condo).

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

You are the most succesful person in this forum as you can retire at such a young age. What's your net worth?
How much is your passive income and expenses per year?

Net worth about 8m. Passive income about 300-450k a year. Depends on market conditions and economy. I don't know how much my wife and I spend but i guess about $200-250k sounds correct.

Originally Posted by Unregistered

Net worth about 8m. Passive income about 300-450k a year. Depends on market conditions and economy. I don't know how much my wife and I spend but i guess about $200-250k sounds correct.

Well done! You're definitely doing a many times better than the old man in this forum. And you're only in your mid 40s! Doing your own business is the way to big riches, not from salaries!