How much are you earning per annum?

31/29 professional Couple, $250k pa in total.
Owns a Condo worth 1.25 mil, only 30% paid up thus far.
No car, no kids yet.
Cash, CPF, stocks and other liquid investments total up around $350k

Then I count myself lucky for not being surrounded by such people.

Condo's are definitely a way to a better life but it does not mean the residents there have been elevated to a status beyond the common man. It just means you life in a better dwelling.

I don't tell people where I live, I let them judge me as it is and decide if I should keep their company or not. These are the people of better moral standing and reliability. But I guess that makes me the rare few?

I stayed in a HDB estate before, its not as bad as you say. Its all down to luck, if your condo neighbor was rented out to students or an unruly family you would face the same. Just on the papers the other day it showed a whole floor of HDB dwellers who shared the neighborly spirit.

Originally Posted by Unregistered

Like it or not, I think it is quite true. Living in a condo is a strong status symbol, and we all know how differently people treat each other according to their status, superficial or not.

A condo is a gated community that separates you and your family from the rest of the public housing dwellers, granting you exclusivity of space. No longer will urine and trash greet you in that staircases and elevators, or unruly and inconsiderate neighbors.

It is well known that locals do look at you differently if you tell them you live in a condo, and for very good reasons.

Need advice in retirement:

115k + 42k this yr's perf bonus (49 age) + 90k (48) annual income
5 rm HDB in ulu ulu Jurong area fully paid
Japanese 1.6L car fully paid
A shophouse unit not fully paid (still U/C no passive income as yet)
Investments + Stocks + FD +CPF - worth at maturity = $170k+
Cash $100k

Annual savings $80k after tuition for kids, parents' allowance, loan repayment etc.

Don't plan to retire soon as hate doing nothing at home. But wife keep hinting she wish to stop working on hitting early 50s. Have 4 children, 2 JC, 2 Sec, no maid. Not huge spender, holidays a short distance (HK, TH). Parents with a list of health issues, medical quite ex. Work in an unusual company that "super promotes" people in 50s to high post - hope will happen to me.

I have a colleague who has somewhat similar circumstances as you, also owned a shop house (with rental income), kids still studying and was earning over $10k pm or annually around $150k to $180k pa. Wife also working. However he went ahead to retire at 50, 2 years ago.

Now I saw him working again - selling insurance.

Another colleague after getting windfall of $2m from enbloc also retired at aged 49. Within 6 months went back to work - as stock broker. After 1 year, quit again to work as property agent. Heard that as stock broker, he was earning less than $1k pm. Before he retired from his first job, he was earning $10k pm.

Lesson learnt, be thankful with what you have right now. The grass is not always greener on the other side.

Although we have achieved our retirement savings target (our net worth is $5m+ and our passive income is $120k pa), We decided not to retire after seeing what the two former colleagues are doing now.

Like you pointed out, how to occupy your time when retired?

Originally Posted by Unregistered

Need advice in retirement:

115k + 42k this yr's perf bonus (49 age) + 90k (48) annual income
5 rm HDB in ulu ulu Jurong area fully paid
Japanese 1.6L car fully paid
A shophouse unit not fully paid (still U/C no passive income as yet)
Investments + Stocks + FD +CPF - worth at maturity = $170k+
Cash $100k

Annual savings $80k after tuition for kids, parents' allowance, loan repayment etc.

Don't plan to retire soon as hate doing nothing at home. But wife keep hinting she wish to stop working on hitting early 50s. Have 4 children, 2 JC, 2 Sec, no maid. Not huge spender, holidays a short distance (HK, TH). Parents with a list of health issues, medical quite ex. Work in an unusual company that "super promotes" people in 50s to high post - hope will happen to me.

You can retire when your shophouse is ready. Assuming you can rent it out at $10k pm, your passive income is $120k pa. How much is it worth now? I assume you no longer have loan. If you do, how much loan left?

Originally Posted by Unregistered

Need advice in retirement:

115k + 42k this yr's perf bonus (49 age) + 90k (48) annual income
5 rm HDB in ulu ulu Jurong area fully paid
Japanese 1.6L car fully paid
A shophouse unit not fully paid (still U/C no passive income as yet)
Investments + Stocks + FD +CPF - worth at maturity = $170k+
Cash $100k

Annual savings $80k after tuition for kids, parents' allowance, loan repayment etc.

Don't plan to retire soon as hate doing nothing at home. But wife keep hinting she wish to stop working on hitting early 50s. Have 4 children, 2 JC, 2 Sec, no maid. Not huge spender, holidays a short distance (HK, TH). Parents with a list of health issues, medical quite ex. Work in an unusual company that "super promotes" people in 50s to high post - hope will happen to me.

While we hear stories of those who have to go back to work after they retired due to financial mismanagement, there are also stories of those who retire young and continue to enjoy financial freedom and got themselves free from being corporate slaves.

I have a friend who works in finance, he is a very highly talented investor, he made his money when the was in in 20s and 30s and retired at 42. Instead of splurging his money on the latest sports car and European holidays, he invested his big bonuses. His capital is now huge enough for him to do full time investing, he is able to consistently generate annual returns of 10%, unlike most investment illiterate people who only manage 2% pa. He is living a good life with no insecure bosses to order him around like a monkey climbing coconut trees.

Originally Posted by Unregistered

31/29 professional Couple, $250k pa in total.
Owns a Condo worth 1.25 mil, only 30% paid up thus far.
No car, no kids yet.
Cash, CPF, stocks and other liquid investments total up around $350k

What type of jobs are you in to earn so much at a young age?
We are the same age 31/29 working in bank front and middle office but earning only half $120k pa combined.

[Hermit]

Originally Posted by Unregistered

48/50, sold our landed at its peak price last year. we are lucky and precise, now landed property prices are falling hard. bought a condo cheap, only $1m, paid on full. Total income now, $120k pa. Expenses, $90k. Total net worth, $2.5m.

Great timing, Bro. 👍

[Hermit]

Originally Posted by Unregistered

Then I count myself lucky for not being surrounded by such people.

Condo's are definitely a way to a better life but it does not mean the residents there have been elevated to a status beyond the common man. It just means you life in a better dwelling.

I don't tell people where I live, I let them judge me as it is and decide if I should keep their company or not. These are the people of better moral standing and reliability. But I guess that makes me the rare few?

I stayed in a HDB estate before, its not as bad as you say. Its all down to luck, if your condo neighbor was rented out to students or an unruly family you would face the same. Just on the papers the other day it showed a whole floor of HDB dwellers who shared the neighborly spirit.

Great balanced post. There are good and horrible neighbours no matter what housing types.

46/47, husband & wife total income, 120k.
Home, 4 room flat, no more loan (bought cheap many years ago).
Net worth, including flat, 700k in total.
How do we fare compared to our peers in our age group?
Are we in the middle or bottom 20% among our peers?
Does anyone here know?