How much are you earning per annum?

My husband, 50, is the only one work. He earn $80k pa. He go work take motorbike. We live in small hdb. We saves $30k pa. I depends everything on him. I take cares of 3 child.

45, $150k pa.
Spouse, 35, $70k pa.
Condo paid up. Been living in condo for 10 years already.
Planning to change car from Asian to European. Paying in full.
Cash and CPF savings $1.2m combined.
Annual savings $100k pa.

Retirement plan at 60:

1. Sell condo.
2. Buy HDB flat.
3. Expected to have $4m cash.
4. Live a simple life with no car.

$4m cash should be enough to retire with to last 40 years.
Will leave behind HDB flat for son when we die. He can sell and get cash.

My wife and I are now in our late 50s. We have been working for the past 30 plus years. We decided to retire last year. We have a cash savings of $1m, this was not enough to generate sufficient passive income. So we decided to sell our condo and then downgrade to a HDB flat. After doing this, we are able to get $1m cash.

So we have $2m which gives us 5% dividend yield or $100k pa. This is more than our spending of $70k pa, including holidays. Our children gives us $12k pa. When we reach 65 we will get monthly payout as well. So far, we save $42k pa.

The sum on the surface seems to add up, but something is not quite right. Can share more details? Like how much did you sell your condo for? How much was the resale HDB? And your $2m generating 5% returns - what kind of investment did you put the full $2m in? Is it all in shares? Dont say I say, not many people would put all their eggs into 1 basket. Something fishy here.

Originally Posted by Unregistered

My wife and I are now in our late 50s. We have been working for the past 30 plus years. We decided to retire last year. We have a cash savings of $1m, this was not enough to generate sufficient passive income. So we decided to sell our condo and then downgrade to a HDB flat. After doing this, we are able to get $1m cash.

So we have $2m which gives us 5% dividend yield or $100k pa. This is more than our spending of $70k pa, including holidays. Our children gives us $12k pa. When we reach 65 we will get monthly payout as well. So far, we save $42k pa.

How old are your kids? You know, feeding 5 mouths, and 3 school going kids on $50K pa in Singapore is incredible. Life is a long journey.

Originally Posted by Unregistered

My husband, 50, is the only one work. He earn $80k pa. He go work take motorbike. We live in small hdb. We saves $30k pa. I depends everything on him. I take cares of 3 child.

Originally Posted by Unregistered

The sum on the surface seems to add up, but something is not quite right. Can share more details? Like how much did you sell your condo for? How much was the resale HDB? And your $2m generating 5% returns - what kind of investment did you put the full $2m in? Is it all in shares? Dont say I say, not many people would put all their eggs into 1 basket. Something fishy here.

Condo (which was fully paid up) was sold at $1.7m, flat was bought at $500k. Minus transaction costs and some minor reno, cash left was $1.1m. $100k set aside for emergency. $2m invested in a basket of global and local blue chips and REITs. 5% dividend yield is no big deal, the worst fund manager should be able to achieve this with eyes closed.

[glwillia]

33, PhD in physics, worked as a High Performance Computing analyst in Singapore. Made S$60k a year, so needless to say I left. Making approximately 2x that now back in the US.

You may regret. You pay high income taxes, higher crime rate, etc.

In Spore, if you buy BTO flat, you take public transport, you don't smoke, drink, gamble, womanize, sodomize, you will have a good life with $60k pa.

Originally Posted by glwillia

33, PhD in physics, worked as a High Performance Computing analyst in Singapore. Made S$60k a year, so needless to say I left. Making approximately 2x that now back in the US.

Was looking at the very first post in this thread started by "Avatar" in Jan 2010. Imagine that, 4 years have already passed!

Avatar, who stated he was a a senior software earning $70k pa, wanted to know where he stood in terms of salary. I have not seen any more post from him since. I can only imagine that he was rudely woken up by the many posters here with their few hundred thousand dollar salaries and their multi-million dollar assets.

Sometimes it is good not to know. We can go on living happily with what we earn and save. But once we opened up our eyes and see that our neighbour is driving a bigger car, going for expensive holidays, wearing nice clothes and what not, we begin to feel envy and our happy blissful life is no more. I was once like that. As a new entrant into the job market, many years ago, I was very pleased with my pay of around $3k pm. With bonuses, I was bringing home $40+k pa. Was pleased as pie. But when I found out that older colleagues were bringing home 3 to 4 times what I was earning, envy sets in. I became a different person.

I wonder what Avatar is doing now? Is he still working in the same line or industry? Has he moved into a more lucrative job?

This life is temporary.

THE TRUE MEANING OF LIFE. REALITY IS... - YouTube

Originally Posted by Unregistered

Was looking at the very first post in this thread started by "Avatar" in Jan 2010. Imagine that, 4 years have already passed!

Avatar, who stated he was a a senior software earning $70k pa, wanted to know where he stood in terms of salary. I have not seen any more post from him since. I can only imagine that he was rudely woken up by the many posters here with their few hundred thousand dollar salaries and their multi-million dollar assets.

Sometimes it is good not to know. We can go on living happily with what we earn and save. But once we opened up our eyes and see that our neighbour is driving a bigger car, going for expensive holidays, wearing nice clothes and what not, we begin to feel envy and our happy blissful life is no more. I was once like that. As a new entrant into the job market, many years ago, I was very pleased with my pay of around $3k pm. With bonuses, I was bringing home $40+k pa. Was pleased as pie. But when I found out that older colleagues were bringing home 3 to 4 times what I was earning, envy sets in. I became a different person.

I wonder what Avatar is doing now? Is he still working in the same line or industry? Has he moved into a more lucrative job?