How much are you earning per annum?

Originally Posted by Unregistered

You are in the mid middle class since you live in a HDB flat. If you are ambitious and wants to move up the social ladder to the upper middle class, you need to upgrade to a private condo. The top 20% lives in private properties.

Now is a good time to upgrade to a private condo since condo prices has not gone up much. Buy a resale condo as it is cheaper than new launch condos.

You can find very affordable resale private condos in the OCR such as those condos in the north region eg. Yishun, Sembawang and Woodlands. The north region condos are undervalued and will appreciate in the long run when the region develops further and when the Thomson MRT line opens.

Sorry we live in the landed n rent out the hdb as the other major shareholder lives elsewhere

Originally Posted by Unregistered

Sorry we live in the landed n rent out the hdb as the other major shareholder lives elsewhere

Mid middle class since you don't own the landed property 100%.

To be in the upper middle class, you need to own a private property 100% and live in it.

IMO, those who own and live in a HDB flat and buy a private property (second property) to rent out is still considered mid middle class. If they don't have tenant to pay for the mortgage, they will likely not able to finance the mortgage comfortably. In a crisis, there will be no tenants and rents will plunge. This group will panic and will need to sell their investment property urgently. Fire sale. Property prices will then crash. This group is the weakest link among private property owners.

You need to own a private property and live in it to be upper middle class. The top 20% own and live in a private property.

Originally Posted by Unregistered

Mid middle class since you don't own the landed property 100%.

To be in the upper middle class, you need to own a private property 100% and live in it.

IMO, those who own and live in a HDB flat and buy a private property (second property) to rent out is still considered mid middle class. If they don't have tenant to pay for the mortgage, they will likely not able to finance the mortgage comfortably. In a crisis, there will be no tenants and rents will plunge. This group will panic and will need to sell their investment property urgently. Fire sale. Property prices will then crash. This group is the weakest link among private property owners.

You need to own a private property and live in it to be upper middle class. The top 20% own and live in a private property.

You pin-pointed it right on point...
But once again, why do we really bothered about what class you are, most importantly live happily. There are some folks have 3-4 properties but always researching alot, viewing property/selling, renovate, etc, it cause alot of unwanted stress unless that person really love it alot, which i highly doubt so.

30 yr
400k liquid assets, 120k OA
Full time job income 60k
Part time hustle 40k
Passive income 10 to 12k
How do I fare. Hmm

Originally Posted by Alexxx

30 yr
400k liquid assets, 120k OA
Full time job income 60k
Part time hustle 40k
Passive income 10 to 12k
How do I fare. Hmm

I would say that you are doing better than Warren Buffet as you can generate passive without investment capital?

My passive income is currently $14k pm but that comes out from about $3m capital working quietly behind the scene.

I achieved Financial independence some years ago but still working and enjoying it.

Originally Posted by Unregistered

Mid middle class since you don't own the landed property 100%.

To be in the upper middle class, you need to own a private property 100% and live in it.

IMO, those who own and live in a HDB flat and buy a private property (second property) to rent out is still considered mid middle class. If they don't have tenant to pay for the mortgage, they will likely not able to finance the mortgage comfortably. In a crisis, there will be no tenants and rents will plunge. This group will panic and will need to sell their investment property urgently. Fire sale. Property prices will then crash. This group is the weakest link among private property owners.

You need to own a private property and live in it to be upper middle class. The top 20% own and live in a private property.

Wanted to buy a studio too but was concerned that our Mo hdb May sers and force to sell the condo if we want to select the new flat
Then and again If never sers will have wasted not bought the condo cause it was just before absd jump from 7 to 12%

Originally Posted by Unregistered

I would say that you are doing better than Warren Buffet as you can generate passive without investment capital?

My passive income is currently $14k pm but that comes out from about $3m capital working quietly behind the scene.

I achieved Financial independence some years ago but still working and enjoying it.

What did you invest in for the passive income?

Originally Posted by WholesaleBanking

Wholesale banking.
Salary: 300k.
Bonus: 100k.
Age: 39

That's a very good income. Any advice on how to get into wholesale banking? Does the university degree matter? Or family connections? Or just pure grit and some luck?

Originally Posted by Unregistered

I would say that you are doing better than Warren Buffet as you can generate passive without investment capital?

My passive income is currently $14k pm but that comes out from about $3m capital working quietly behind the scene.

I achieved Financial independence some years ago but still working and enjoying it.

14k per month is really impressive. What sort of investment are u doing. I would say half my liquid assets are in stocks and bonds while the other half is in cash which I'm still not deploying due to market uncertainty. Hmm

husband: 35 wife: 33
combined annual income: 400k
cash+stocks: 1.1m
outstanding sg property loan: 680k
outstanding sg car loan: 60k
2 fully settled houses in KL