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How much are you earning per annum?

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  #9091 (permalink)  
Old 10-12-2015, 08:50 AM
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There is a report which predicts COE could reach $200k in the future. While I don't think it will go that high, I believe $150k is still possible. COE today $60k is a bargain. It costs you only $6k pa for the right to own a car. Cheap in my opinion given that nowadays household incomes are more than $100k pa. Only 6% of household income. Many in this forum earns more than $200k pa.

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  #9092 (permalink)  
Old 10-12-2015, 08:54 AM
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Do not compare yourself to white skin people. It seems like wherever they go they are treated better, even in Singapore. What more in other poorer regions Asian countries? They will be treated a class above, but even then some were murdered.

And you still miss the point. $$ is not the only consideration. And at 65, you may not have the energy anymore to be moving to a new culture and environment altogether. People at this age are actually looking to return home for good.

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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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  #9093 (permalink)  
Old 10-12-2015, 05:14 PM
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Retiring in Malaysia is a serious proposition for many Singaporeans as culturally we can blend well. Do have an open mind.


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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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  #9094 (permalink)  
Old 10-12-2015, 05:20 PM
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Quote:
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Retiring in Malaysia is a serious proposition for many Singaporeans as culturally we can blend well. Do have an open mind.
I am not a Singaporean.

I'm a 26 yr old single male.
Earning $180k per annum.
Housing allowance $5,000 per month and travelling allowance of $10,000 per annum.
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  #9095 (permalink)  
Old 10-12-2015, 05:57 PM
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Quote:
Originally Posted by Unregistered View Post
I am not a Singaporean.

I'm a 26 yr old single male.
Earning $180k per annum.
Housing allowance $5,000 per month and travelling allowance of $10,000 per annum.
What do you do? Are you renting a one bedroom or studio luxury condo?
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  #9096 (permalink)  
Old 10-12-2015, 07:35 PM
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44, sole breadwinner, $160k pa
Savings, $30k pa
3 bedroom condo, $1.1m, no more loans
1 car, paid up
How are we doing?
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  #9097 (permalink)  
Old 10-12-2015, 10:48 PM
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Depends on how much savings you have and also in your cpf account. Kids wise, have you set aside a good sum for their education?


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  #9098 (permalink)  
Old 11-12-2015, 12:44 PM
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Quote:
Originally Posted by Unregistered View Post
44, sole breadwinner, $160k pa
Savings, $30k pa
3 bedroom condo, $1.1m, no more loans
1 car, paid up
How are we doing?
You are very successful. In Singapore only about 16% live in and own a condo. To own and live in a condo, to own a car and to be debt free is a big achievement. Well done! You have achieved the Singapore dream. You are in the top 5% of all Singaporeans in financial achievement.

But are you truly successful? You will only be truly successful if you have brought up your children well and also if you are someone who cares about your society, who feeds the poor and needy, who cares for the orphans and the elderly and who spends his wealth and time in the service of those in need. You can have all the wealth in this world to show off but if you don't care for the less fortunate, you are nothing. So, do good to the world. Make the world a better place. All the best.


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  #9099 (permalink)  
Old 11-12-2015, 02:57 PM
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Me and a few of my colleagues just went down to Alexandra after lunch to check out some cars after receiving our bonus. Everybody agreed to go there look look only, end up 3 guys including me placed deposit for a new car. The other guy said he go home check with his wife first, tomorrow then bring the family down to see again.


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  #9100 (permalink)  
Old 11-12-2015, 03:25 PM
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Quote:
Originally Posted by Unregistered View Post
Me and a few of my colleagues just went down to Alexandra after lunch to check out some cars after receiving our bonus. Everybody agreed to go there look look only, end up 3 guys including me placed deposit for a new car. The other guy said he go home check with his wife first, tomorrow then bring the family down to see again.
Why don't you wait till April?

CoE will drop below $50k. You would have lost $10k for not being patience.
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