How much are you earning per annum?

Better keep to the discussion topic........and keep religion out of it

Originally Posted by Unregistered

Open your mind and heart .....


[url=http://www.youtube.com/watch?v=IvCU-4TE-ec]

45, $160k pa. Wife, 43, $110k pa. Lives in a 3 room condo, now worth $1.2m, mortgage left $250k. Owns a car, no more loan. Need to spend $300k for the next brand new car. It is tough to own a car here. We are your typical middle income family.

I think you keep posting the same middle income earner with upper middle income expense story over and over again. What other kind of response do you expect from us that you have not already seen?

Your combined $270k pa income is at the upper end of the middle-middle income. You are aware of that, yet you chose to live a lifestyle of the upper middle class. Why stress yourself? You yourself said it is tough to own a car here, yet you are willing to squander $300k just for 10 years of ownership?

Our income is $470k pa yet our two cars cost us $270k combined. Yes they are Jap cars, but they are reliable and comfortable for the city traffic here. By the way, we are not staying in a condo, but just an HDB exec flat. Our condo is for generating income.

Originally Posted by Unregistered

45, $160k pa. Wife, 43, $110k pa. Lives in a 3 room condo, now worth $1.2m, mortgage left $250k. Owns a car, no more loan. Need to spend $300k for the next brand new car. It is tough to own a car here. We are your typical middle income family.

Your $470k pa is on the low side. Only those who earn at least $800k pa can afford to live in a condo. Those who earn less than that can only afford to buy a condo to rent out (let those richer people who can afford to stay in it). You are prudent in yor finances, well done. Not many people can afford to own a condo for own stay. Be patient, perhaps one day you can afford to live in a condo.

Originally Posted by Unregistered

I think you keep posting the same middle income earner with upper middle income expense story over and over again. What other kind of response do you expect from us that you have not already seen?

Your combined $270k pa income is at the upper end of the middle-middle income. You are aware of that, yet you chose to live a lifestyle of the upper middle class. Why stress yourself? You yourself said it is tough to own a car here, yet you are willing to squander $300k just for 10 years of ownership?

Our income is $470k pa yet our two cars cost us $270k combined. Yes they are Jap cars, but they are reliable and comfortable for the city traffic here. By the way, we are not staying in a condo, but just an HDB exec flat. Our condo is for generating income.

[aplover]

I think this is the most useless thread in this forum but generates the most amount of interest

Originally Posted by aplover

I think this is the most useless thread in this forum but generates the most amount of interest

It is as useful or as useless as the posters want to make it to be. Many just either could not accept or could not believe the income earned by some posters who shared here. So they just dreamt up some outlandish figures to post as their incomes. I don't know what kind of joy these people get, because at the end of the day they will be staring at what they are actually earning.

I do find some believable postings here (even the high income ones) especially when backed up with credible timeline which matched mine. I have worked long enough (30 years) and hob nobbed with a wide range of people to have some sense of what kind salaries are out there.

And there are those sour grape posts like the one which stated that only those earning above $800k pa can afford to live in a condo. Or they could be totally clueless.

Many think earning high salaries is the only way to have wealth, but this is far from the truth. Disciplined savings and investing is key! So a family earning $200k pa could have higher net worth than a family who earned more but spent $300k for a car that he can only own for 10 years.

I have shared my family income and even on how that income changed over the years and I have got my fair share of responses from posters who found my posts inspiring and yet others who thought they were just dreams.*

Like they say, you can bring a horse to the water, but you cannot force it to drink the water.*
They can believe what they want, and lie all they like. All posts here are anonymous after all.

There are many jealouse people in this forum. I had nasty responses from people here when I said I am retired, at the age of 48. Many people here just could not believe that I was so successful in my career that I am able to retire young.

I now live in a fully paid up condo and I have no more car loans, personal loans, etc. I am debt free. I earn a comfortable passive income from my investment portfolio, yielding a decent 5% stocks dividend yield from blue chips. My wife and I now spend our time volunteering in charities, besides exercising more at the condo gym and swimming pool.

All these are possible because of a lifestyle choice we made. Even though we could afford a $5m bungalow, we settled for just a $2m condo and that was why we could pay off our loans fast and we invested the rest of the cash. There are people here who still want to live in a $5m bungalow and yet they complain they have to work until 75. Worse, they say people who retire early are lazy. They purposely ignore the fact that people who retire early usually spend their time volunteering at charities to give back to society. They are selfless people and should be thanked not scorned.

Originally Posted by Unregistered

It is as useful or as useless as the posters want to make it to be. Many just either could not accept or could not believe the income earned by some posters who shared here. So they just dreamt up some outlandish figures to post as their incomes. I don't know what kind of joy these people get, because at the end of the day they will be staring at what they are actually earning.

I do find some believable postings here (even the high income ones) especially when backed up with credible timeline which matched mine. I have worked long enough (30 years) and hob nobbed with a wide range of people to have some sense of what kind salaries are out there.

And there are those sour grape posts like the one which stated that only those earning above $800k pa can afford to live in a condo. Or they could be totally clueless.

Many think earning high salaries is the only way to have wealth, but this is far from the truth. Disciplined savings and investing is key! So a family earning $200k pa could have higher net worth than a family who earned more but spent $300k for a car that he can only own for 10 years.

I have shared my family income and even on how that income changed over the years and I have got my fair share of responses from posters who found my posts inspiring and yet others who thought they were just dreams.*

Like they say, you can bring a horse to the water, but you cannot force it to drink the water.*
They can believe what they want, and lie all they like. All posts here are anonymous after all.

What's all these nonsense postings? Let me share with you the truth from my own experience. My wife and I only earn an annual income of $130k and we are now in our late 30s. We first got our HDB flat in Queenstown and after a few years of staying ther, we sold it off at $900k.

Since we bought it cheap, after paying off the outstanding mortgage, we had net cash of $700k. We then use the $700k plus our own $100k savings to pay for downpayment of a $1.1m condo in Upper Bukit Timah. So the mortgage for our current condo is only $300k. This is very much manageable for us.

So, you dont need a salary of $470k pa or $800k pa to buy a condo, unless you want to buy the $30m condos in Orchard Road.

There are many stupid forumers here who have no knowledge at all on private properties.

Originally Posted by Unregistered

What's all these nonsense postings? Let me share with you the truth from my own experience. My wife and I only earn an annual income of $130k and we are now in our late 30s. We first got our HDB flat in Queenstown and after a few years of staying ther, we sold it off at $900k.

Since we bought it cheap, after paying off the outstanding mortgage, we had net cash of $700k. We then use the $700k plus our own $100k savings to pay for downpayment of a $1.1m condo in Upper Bukit Timah. So the mortgage for our current condo is only $300k. This is very much manageable for us.

So, you dont need a salary of $470k pa or $800k pa to buy a condo, unless you want to buy the $30m condos in Orchard Road.

There are many stupid forumers here who have no knowledge at all on private properties.

Nah, it's not that they don't know, but they're just being sarcastic. Having said that, your example is not an "accurate" one given the current property prices, and the new rules and regulations. Simply put, you will not be able to accomplish what you've done if you're attempting to buy a condo now.

So while some forumers insist that you need to have such extravagant income to buy a condo, they are probably looking into repaying the debt within 5 years. More importantly, it's about having that ability to withstand any financial tsunami should it happen.

Can I ask why do you keep posting your story over and over again? (must be more than 20 times now). Do you keep multiple templates or do you just enjoy writing what you already stated over and over again.

I'll be very surprised if I do get a reply from you.

Originally Posted by Unregistered

There are many jealouse people in this forum. I had nasty responses from people here when I said I am retired, at the age of 48. Many people here just could not believe that I was so successful in my career that I am able to retire young.

I now live in a fully paid up condo and I have no more car loans, personal loans, etc. I am debt free. I earn a comfortable passive income from my investment portfolio, yielding a decent 5% stocks dividend yield from blue chips. My wife and I now spend our time volunteering in charities, besides exercising more at the condo gym and swimming pool.

All these are possible because of a lifestyle choice we made. Even though we could afford a $5m bungalow, we settled for just a $2m condo and that was why we could pay off our loans fast and we invested the rest of the cash. There are people here who still want to live in a $5m bungalow and yet they complain they have to work until 75. Worse, they say people who retire early are lazy. They purposely ignore the fact that people who retire early usually spend their time volunteering at charities to give back to society. They are selfless people and should be thanked not scorned.