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How much are you earning per annum?

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  #9121 (permalink)  
Old 15-12-2015, 09:16 AM
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Since you are fond of profanity, we will play along....

Only people with short d*cks don't like to compare. Hard truth.
People with normal or longer ones are ok.

Similarly, if you are on the lower end of the salary or wealth scale, it's ok. You are welcome to read the posts. If you feel inferior, please feel free to slunk back to edmw where you crawled from....... Lol
Seem like another swallow fellow too... Comparing here, and u thk you d*ck is normal or longer.. Why u don't compare with ultra rich, will ur d*ck will appear short

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  #9122 (permalink)  
Old 15-12-2015, 02:05 PM
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You can both retire at 65. At 65, you will get $3.6k pm ($1.8k each) from CPF Life. Since you save $40k pa, over 15 years you will save $600k. Invest in dividend yield stocks giving 5% pa in dividends, so you get $30k pa or $2.5k pm in dividends. So your passive income is $6.1k pm or $73.2k pa.

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If this is our profile, when can we retire? Need sincere advice from forumers here:

Husband, 50. Wife, 51. Combined income $200k pa and we save $40k pa.
Son, 20. Daughter, 13. Still schooling.
Home is a three bedder condo, current valuation $980k. Mortgage remaining $188k.
Car is paid up. Other assets include CPF, cash, stocks, insurance policies.
Total net worth $2m.

Thank you for the advice.


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  #9123 (permalink)  
Old 16-12-2015, 03:34 PM
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You both are high achievers. Among the top 5% in Singapore because you own a condo, a car and have a high net worth of $2m. You can retire now if you sell your condo and downgrade to a 4 room HDB flat. You will have lots of cash to invest in blue chip stocks and earn dividends. If you buy a flat for $350k, you will have $1m to invest. You will earn $50k pa in dividends. If you don't own a car, this is enough if you live frugally. If you want a better retirement, you need to work another 10 years.

Quote:
Originally Posted by Unregistered View Post
If this is our profile, when can we retire? Need sincere advice from forumers here:

Husband, 50. Wife, 51. Combined income $200k pa and we save $40k pa.
Son, 20. Daughter, 13. Still schooling.
Home is a three bedder condo, current valuation $980k. Mortgage remaining $188k.
Car is paid up. Other assets include CPF, cash, stocks, insurance policies.
Total net worth $2m.

Thank you for the advice.

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  #9124 (permalink)  
Old 16-12-2015, 08:30 PM
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Originally Posted by Unregistered View Post
You both are high achievers. Among the top 5% in Singapore because you own a condo, a car and have a high net worth of $2m. You can retire now if you sell your condo and downgrade to a 4 room HDB flat. You will have lots of cash to invest in blue chip stocks and earn dividends. If you buy a flat for $350k, you will have $1m to invest. You will earn $50k pa in dividends. If you don't own a car, this is enough if you live frugally. If you want a better retirement, you need to work another 10 years.
Blue chip but capital loss Gao gao no point
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  #9125 (permalink)  
Old 16-12-2015, 09:29 PM
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Growth of household wealth hits a snag: Credit Suisse

Thursday, Oct 15, 2015
Claire Huang
The Business Times

Singapore - HOUSEHOLD wealth per adult in Singapore had grown strongly from 2001 to 2012, but this upward trajectory has since plateaued in domestic currency units and declined in terms of the greenback, due to adverse exchange rate movements last year.

The trend is in line with Credit Suisse Research Institute's finding that the size and wealth of the middle class globally grew quickly before the financial crisis, but the growth subsided after 2007.

Its sixth annual global wealth report said rising inequality also put pressure on the share of wealth of the middle class in every region.

Total household wealth here at existing US dollar terms fell 5.8 per cent to US$1 trillion, from mid-2014 to mid-2015, but it rose by 1.8 per cent in domestic currency terms.

Even as household wealth per adult in Singapore hit a snag in recent years, average wealth per adult has risen 140 per cent to US$269,400 in mid-2015, compared with US$112,800 in 2000.

Most of the rise is linked to high savings and asset price movements from 2005 to 2012, the report said.

Singapore is now ranked eighth globally in terms of personal wealth per adult - the highest of all countries in Asia and well ahead of Hong Kong.

On a wealth-per-adult basis, Switzerland remains the richest nation in the world with US$567,100 in 2015, followed by New Zealand (US$400,800) and Australia (US$364,900).

Between 2000 and 2015, wealth in Singapore grew at an average annual rate of 6.2 per cent, in line with higher gross domestic product per capita growth over the same period, findings showed.

In terms of median wealth per adult, Singapore is ranked seventh in the world at US$98,900, beating Japan, which is in the eighth spot at US$96,100. New Zealand and Australia are the two highest in the world at US$182,600 and US$168,300 respectively.

Financial assets constitute 54 per cent of total household assets in Singapore, similar to that of Switzerland and the United Kingdom, said Credit Suisse, adding that the average debt of US$54,600 in Singapore is moderate for a high-wealth country as it equates to 17 per cent of total assets.

As for distribution of wealth here, the report said "Singapore shows only moderate inequality".

"Just 10 per cent of its people have wealth below US$10,000, versus 71 per cent for the world as a whole. The number with wealth above US$100,000 is six times the global average. Reflecting its very high average wealth rather than high inequality, 5 per cent of its adults or 205,000 individuals are in the top 1 per cent of global wealth holders, while its adult population accounts for just 0.1 per cent of the world total," it added.

As with many developed economies, Singapore has a high percentage of adults in the middle class at 62 per cent, owning US$334 billion of wealth or 31 per cent of the country's total.

Findings also showed that the number of millionaires (in US currency) in Singapore is projected to rise by 50 per cent in the next five years to reach 212,000 in 2020, from the current 142,000.

There are an estimated 752 ultra-high-net-worth individuals in Singapore with more than US$50 million net wealth.

Michael O'Sullivan, chief investment officer for the UK & EEMEA, private banking and wealth management at Credit Suisse, said: "Going forward, we expect the global economy to accelerate slightly, with the Chinese economy stabilising as it makes a transition towards consumption and services. Against this backdrop, wealth is set to continue its upward trajectory and could grow at an annual rate of 6.6 per cent (including inflation), reaching US$345 trillion in 2020."
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  #9126 (permalink)  
Old 17-12-2015, 07:10 AM
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Good morning folks, the FED just increased Fed fund rates to 0.25% from 0% after many years. The U.S. economy is improving and jobs situation is much better now. What does this means?

1. You should buy a new car now. As the global economy improves, led by the U.S., our economy will also improve. Our wages will increase and demand for new cars will increase.

2. The stock market will rise as the rate hikes will be gradual. People will feel rich and buy new cars.

So, book your new car now.
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  #9127 (permalink)  
Old 17-12-2015, 07:36 AM
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Default Credit Crunch

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Originally Posted by Unregistered View Post
Good morning folks, the FED just increased Fed fund rates to 0.25% from 0% after many years. The U.S. economy is improving and jobs situation is much better now. What does this means?

1. You should buy a new car now. As the global economy improves, led by the U.S., our economy will also improve. Our wages will increase and demand for new cars will increase.

2. The stock market will rise as the rate hikes will be gradual. People will feel rich and buy new cars.

So, book your new car now.
We are starting the reversal of ease of credit, therefore business will feel crunch especially if they have debt, increase interest makes all cautious on overspend. For Asia, you can think that of less spend. For Singapore, you can consider less foreign direct investment to shrink. Do the maths
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  #9128 (permalink)  
Old 17-12-2015, 10:38 AM
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US FED rate hike in coming years will kill off all leverage and credit binge.
People are going to fall behind mortgage or car loan installment payments
Big lelong sale coming as people are forced to sell assets ... soon COE price going to hit $25k or even reach $2 like in 2008.

Economic cycle will repeat like the last decade, if you are paying a large part of your salary on interest installments, be very afraid. The economic downturn and interest rate increase will lead to a perfect storm in late 2016/early 2017.
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  #9129 (permalink)  
Old 17-12-2015, 11:19 AM
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US FED rate hike in coming years will kill off all leverage and credit binge.
People are going to fall behind mortgage or car loan installment payments
Big lelong sale coming as people are forced to sell assets ... soon COE price going to hit $25k or even reach $2 like in 2008.

Economic cycle will repeat like the last decade, if you are paying a large part of your salary on interest installments, be very afraid. The economic downturn and interest rate increase will lead to a perfect storm in late 2016/early 2017.
Yes agree with your assessments.

For my I am sitting on cold hard cash.

Ready to scoop up one or two private properties when prices plunge back to 2009 crisis levels.

Maybe can consider to pick up my 2ND new car when COE drop <$5k
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  #9130 (permalink)  
Old 18-12-2015, 08:44 AM
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I am not sure how to read the situation this time around. Last time (08/09) the world economy was in a tail spin. Almost every economy was contracting badly then. There was many retrenchment too. Now, the US economy is growing, that's why they raised the interest rate. Question is will the US economy be able to pull up the rest of the world or at least Singapore economy?

If the improving US economy leads to increased demands for our exports and thus economic growth for us, then property and COE prices may not go down as much.

What I do know is that there will be inflation. Already the 2 new private bus companies are agressively hiring bus drivers and others causing SMRT and SBS to offer better incentives to recruit and keep their drivers. Higher fares will be coming soon. And with higher fares, the cost of other goods and services would also go up.

Quote:
Originally Posted by Unregistered View Post
Yes agree with your assessments.

For my I am sitting on cold hard cash.

Ready to scoop up one or two private properties when prices plunge back to 2009 crisis levels.

Maybe can consider to pick up my 2ND new car when COE drop <$5k
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