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How much are you earning per annum?

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  #9081 (permalink)  
Old 09-12-2015, 10:34 AM
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It is true that we are very blessed to be living in Singapore. Many people from other parts of the world would love to exchange places with us. We should indeed count our blessings.

But it is the very of nature of human beings to compare themselves with their immediate neighbors, which in our case, are our fellow Singaporeans. We cannot help but be reminded of the high cost of daily living here. We see our neighbors staying in landed properties, condos and driving big cars and we aspire to own them too. That's when we realize that whatever we earn is just not enough, although that same amount would make many families in poorer countries feel that they have struck the lottery.

We live in a high cost country, therefore we cannot escape the reality of where we live by simply imagining that our money will go a long way in some poorer countries.


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Consider yourself extremely fortunate. You're in the top 0.001% of the world's population, in terms of material achievements. There are billions of people around the world living in dire conditions and extreme poverty. Stop complaining about your life.

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  #9082 (permalink)  
Old 09-12-2015, 11:19 AM
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You must ask yourself why this is still a "secret". Ask why is it not happening in a big way, i.e. Why not many retirees are choosing this option of retiring in those places.

At the end of the day, it is not just about the cost. There is a trade off to live in lower cost countries - familiarity, family & friends, safety, convenience, food, medical, culture and language. For many people, the trade offs are not worth the savings. Some more, at 65, you may just want to settle with familiar surroundings, the convenience and efficiency that is Singapore.

Ironically, those who bought houses in other countries are the richer Singaporeans who treat their overseas homes as holiday homes. And another irony is that as people age, they desire to live and eventually die at home. My uncle who has lived and worked in Australia for more than 20 years has decided to return to Singapore for good at the age of 65.
You speak the truth! It is one thing to console yourself that you can always retire in Malaysia or Thailand but it is entirely different when it comes to execution. Imagine living alone or only with spouse in Bangkok day in day out. You are not retiring. You are in exile!

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  #9083 (permalink)  
Old 09-12-2015, 07:04 PM
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Today's COE is a 3 week cycle, and it's near to CNY. but yet COE dropped from last month.

I forecast that after CNY, the COE will drop below $50k, and soon hit my $30k target. Huat ah!

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  #9084 (permalink)  
Old 09-12-2015, 07:44 PM
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Drop is temporary. New orders will come in after Dec bonus, in time for CNY.

Cat A will soon hit $65k and Cat B will be $70k.


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Today's COE is a 3 week cycle, and it's near to CNY. but yet COE dropped from last month.

I forecast that after CNY, the COE will drop below $50k, and soon hit my $30k target. Huat ah!
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  #9085 (permalink)  
Old 09-12-2015, 08:47 PM
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Drop is temporary. New orders will come in after Dec bonus, in time for CNY.

Cat A will soon hit $65k and Cat B will be $70k.
Common lah

The COE rsunami is coming in April.

How not to drop??
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  #9086 (permalink)  
Old 09-12-2015, 11:42 PM
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This is actually not a secret. Many people are already doing this or planning to do this.
Many Americans and Europeans migrate to places like Thailand and Malaysia to retire due to the lower cost of living. It makes a lot of sense. Many Singaporeans can do this as well and enjoy a good retirement. We are lucky to own a valuable asset in our HDB flat. For those who don't want to retire overseas can always rent out their empty rooms. If they rent out each room for $800 pm, for two rooms they will get $1600 pm. Together with their CPF Life of $3600 pm, their total passive income will be $5200 pm. A lot of money for a debt free retired couple. If their kids are filial and gives them allowances, that will be a bonus. So remember not to sell your HDB flat. Don't be foolish to sell your flat and move in to your children's flat as one day you could be kicked out of their flat if dispute happens. Don't sell your flat so that you can help your kids upgrade to a condo. Your children may not even give you any allowance even though they may be millionaires.

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Are you and wife the average couple in Singapore and you both wish to retire in a luxury condo and drives around in a big, new car? Yes, you can and this is not a scam. How? Let me tell you a secret.

Your two most important retirement assets are your HDB flat and your CPF Life.

Make sure by the time you and wife retire at 65, you have paid off your HDB mortgage (this is easy because BTO flats are very cheap, relative to household income) and you and wife opt for the Enhanced CPF Life scheme. You and wife will each get $1800 pm from CPF Life. Then you rent out your whole HDB flat. You both retire in one of our neighbouring countries such as Malaysia, Thailand, etc.

Your retirement passive income

Rental income from HDB flat $2500 pm
Your CPF Life payout $1800 pm
Your wife's CPF Life payout $1800 pm
Total passive income $6100 pm

If you retire in Malaysia, you then convert your passive income to get $18,300 pm!
If this kind of money, you can rent a penthouse luxury condo anywhere in Malaysia, drives a luxury car, eat at restaurants three times a week, etc.

If you retire in Thailand or Vietnam, you can enjoy and spend even more. You can even hire two domestic helpers, a driver and a gardener. You will be living in a big bungalow with swimming pool.

So this is the secret of how the ordinary average Singapore couple can retire in luxury.
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  #9087 (permalink)  
Old 10-12-2015, 08:00 AM
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Drop is temporary. New orders will come in after Dec bonus, in time for CNY.

Cat A will soon hit $65k and Cat B will be $70k.
Many foreign banks ( Barclays, Standard Chartered, Deutsche, etc) are retrenching their senior bankers. Many SMEs are struggling, MNCs are feeling impact of China slowdown, O&G companies are not paying bonus with oil prices hitting 7 year low.

Predict further COE will drop to 25k.
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  #9088 (permalink)  
Old 10-12-2015, 08:27 AM
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Many foreign banks ( Barclays, Standard Chartered, Deutsche, etc) are retrenching their senior bankers. Many SMEs are struggling, MNCs are feeling impact of China slowdown, O&G companies are not paying bonus with oil prices hitting 7 year low.

Predict further COE will drop to 25k.
200 thousand of COEs will be released in the next 2 years!
Not all who bought cars with $10k COE during 2006-2007 can afford to pay $55k at current COE price.

Furthermore the current tighter financing rules for car purchase will further dampen the appetite. I havent talk about the Fed hike yet - which means higher interest rates for car loans

Many people are switching to Uber or Grabtaxi.

Downtown line starting end of this year.

COE price will just keep dropping from here
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  #9089 (permalink)  
Old 10-12-2015, 08:44 AM
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Many foreign banks ( Barclays, Standard Chartered, Deutsche, etc) are retrenching their senior bankers. Many SMEs are struggling, MNCs are feeling impact of China slowdown, O&G companies are not paying bonus with oil prices hitting 7 year low.

Predict further COE will drop to 25k.
It's true. Many of my friends in manufacturing sectors are starting to do 4 day weeks with forced leave.

It's like the pre 2009 scenario.

For me I am not targeting to buy car even COE drop to $25k.

I am aiming to snap up one or two properties when crisis hits. Hopefully by 2016..
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  #9090 (permalink)  
Old 10-12-2015, 08:47 AM
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200 thousand of COEs will be released in the next 2 years!
Not all who bought cars with $10k COE during 2006-2007 can afford to pay $55k at current COE price.

Furthermore the current tighter financing rules for car purchase will further dampen the appetite. I havent talk about the Fed hike yet - which means higher interest rates for car loans

Many people are switching to Uber or Grabtaxi.

Downtown line starting end of this year.

COE price will just keep dropping from here
Fortunately I listened to the guru who forecast that COE will drop to $30k soon.

And looks like his or her prediction will come true in 2016.
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