How much are you earning per annum?

You are doing well except that you don't live in a condo.
What's your combined net worth?

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.

Anybody who has a job, a home and living in clean and safe S'pore can consider himself/herself lucky.

The only thing you should be concerned with is how to fund your retirement. In many countries, the governments are encouraging their people to work as long as they can. Australians are considering raising their pension age to 70. Americans are retiring later - 65 or more. Elderly Japanese purposely commit crime to get imprisoned so that they can get free meals as they have outlived their savings.

So be sure to save / invest and work as long as you can. Our garmen has already raised the minimum sum to $155K but that will only provide you $1.1K pm when you are 65. Just pray that they dont raise the withdrawal age to 70!

Originally Posted by Unregistered

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?

With regards to the thread topic, my answer is 'alot'.

43 & 45 professional couple, $220k pa combined.
Lives in a big luxury condo, drives a luxury big car.
Expensive holidays, twice a year.
Spending includes paying condo mortgage, condo maintenance fees, car loan, income tax, insurance premium, kids' tuition, ballet and piano lessons, kids' allowances, parents' allowances and medical expenses, fine dining at high end restaurants, maid's salary and levy, holidays, etc, $180k pa in total.
Net worth, $2.2m.

Our retirement plan (at 60 years old) is to sell our big luxury condo and downgrade to a one bedroom condo next to an MRT station. By doing this, we will get cash for us to buy dividend stocks to get passive income. Our expenses will also go down since we live in a smaller condo and will not own a car any more. Since it is a small condo, we don't need a maid as my wife and I can easily do the housework. We can also just eat at coffee shops.

Originally Posted by Unregistered

800K (800,000) in Yen = Approx. 13K (13,000) in S$, per ANNUM

$13,000 per annum is self-explanatory; unless this is in monthly income.

He said singapore dollars...

Those who want to retire in Malaysia, make sure you go to safe places like Malacca, Langkawi, Penang. Don't retire in JB, you will live in fear. Better be safe than sorry. Also don't buy but just rent, you can simply move to another place if you don't like the place. If you buy, then you cannot move. In Malaysia, there is a big property oversupply, especially in Iskandar, you can buy but cannot sell. Those who bought in Iskandar are now panicking, especially those who are greedy and bought many units.

Why that kinda sounds like this guy on this forum, but compared to your friend this guy is one annoying fella, keep making multiple post on the same thing and posting as someone else to praise his own post.

Sad case, but I am sure your friend is not like this total loser. Mediocre man writing his own biography cause no one else will bahahaha

Originally Posted by Unregistered

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

Those who want to retire in Malaysia, make sure you go to safe places like Malacca, Langkawi, Penang. Don't retire in JB, you will live in fear. Better be safe than sorry. Also don't buy but just rent, you can simply move to another place if you don't like the place. If you buy, then you cannot move. In Malaysia, there is a big property oversupply, especially in Iskandar, you can buy but cannot sell. Those who bought in Iskandar are now panicking, especially those who are greedy and bought many units.

An excellent piece of advice..

The rental yield eg leisure farm or horizon hills is below 3% nett. Classic bubble. Yup JB has a huge oversupply.

I'm already 47, earning only $60k pa. Are there anyone in this forum earning as pathetic as me?

Originally Posted by Unregistered

I'm already 47, earning only $60k pa. Are there anyone in this forum earning as pathetic as me?

Not pathetic. It depends on your lifestyle and quality of life