How much are you earning per annum?

Originally Posted by Unregistered

52, senior executive, single income 300kpa, 2 teens children. Net worth 2.8m, home is a executive hdb (~600k) and driving a old jap car. Invested in a wide profolio, except in property and shares, generating about 60k dividends. Should I be investing more aggressively, taking more risk for higher returns? Like to seek the gurus view.

A person of high stature like you should be staying in a landed property or at least a condo. What happened?

Oh thanks for pointing out the error. My numbers had an extra year in it.

Originally Posted by lazyplane

Bored. Did some calculations. Think the correct numbers are as below.
Month Lee Lim
1 3000 8000
2 3005 8013
3 3010 8027
4 3015 8040
5 3020 8053
6 3025 8067
240 4467 11911

Total 884,391 2,358,375

That's stereotyping. Many high earners still stay in HDBs. The only thing wrong in that is that they should be giving up their flats for the more deserving lower income earners.

However looking at his case, he said his was a single income household. It is thus prudent of him to stay put. Unless he is in the CS or SB, his job may not be secure.

Originally Posted by Unregistered

A person of high stature like you should be staying in a landed property or at least a condo. What happened?

43, 45, annual income 240k only. Stays in a condo, worth $2.5m. Mortgage outstanding, $1m. Drives an old conti car. Goes to holiday with teenage children, once a year, for 2 weeks in Dec. We live a modest middle class lifestyle, unlike the lifestyle of the rich and tycoons. We are the modern corporate slaves.

Originally Posted by Unregistered

A person of high stature like you should be staying in a landed property or at least a condo. What happened?

Why?? Hdb not good enough? You have a typical mindset that rich stay in private and poor in hdb. Perhaps the reverse is true for some cases.

Originally Posted by Unregistered

43, 45, annual income 240k only. Stays in a condo, worth $2.5m. Mortgage outstanding, $1m. Drives an old conti car. Goes to holiday with teenage children, once a year, for 2 weeks in Dec. We live a modest middle class lifestyle, unlike the lifestyle of the rich and tycoons. We are the modern corporate slaves.

With your amount of combined income, and assuming you have no other loan except your mortgage, you are under leveraged. Your MSR is less than 30%.

Some people choose not to be corporate slaves by doing their own business or adjusting their lifestyle. In your case, you have $1.5m equity in your home. If you sell your condo and pay off your mortgage, you have $1.5m cash. You then can buy a $400k HDB flat paid in full and still have $1.1m cash which can generate a return of 5% or $55k pa dividend. You can then grow this dividend until it exceeds your family expenses, then you will be financially independent and no longer need to be corporate slaves.

Someone here managed to earn a passive income of $100k and their expenses are only $60k pa and they are now no longer in the rat race at 55. Plan your way out of this rat race. You don't want to drop dead at your desk at 65 in your rat cubicle.

Originally Posted by Unregistered

With your amount of combined income, and assuming you have no other loan except your mortgage, you are under leveraged. Your MSR is less than 30%.

Some people choose not to be corporate slaves by doing their own business or adjusting their lifestyle. In your case, you have $1.5m equity in your home. If you sell your condo and pay off your mortgage, you have $1.5m cash. You then can buy a $400k HDB flat paid in full and still have $1.1m cash which can generate a return of 5% or $55k pa dividend. You can then grow this dividend until it exceeds your family expenses, then you will be financially independent and no longer need to be corporate slaves.

Someone here managed to earn a passive income of $100k and their expenses are only $60k pa and they are now no longer in the rat race at 55. Plan your way out of this rat race. You don't want to drop dead at your desk at 65 in your rat cubicle.

your suggestion would make him even more under leveraged with a 0% MSR.

[lazyplane]

Please name me 3 equity that will give me 5% dividend without capital loss an and i will monitor this using spot SGD dollar for the next 2 years to see if this is true.

Originally Posted by Unregistered

With your amount of combined income, and assuming you have no other loan except your mortgage, you are under leveraged. Your MSR is less than 30%.

Some people choose not to be corporate slaves by doing their own business or adjusting their lifestyle. In your case, you have $1.5m equity in your home. If you sell your condo and pay off your mortgage, you have $1.5m cash. You then can buy a $400k HDB flat paid in full and still have $1.1m cash which can generate a return of 5% or $55k pa dividend. You can then grow this dividend until it exceeds your family expenses, then you will be financially independent and no longer need to be corporate slaves.

Someone here managed to earn a passive income of $100k and their expenses are only $60k pa and they are now no longer in the rat race at 55. Plan your way out of this rat race. You don't want to drop dead at your desk at 65 in your rat cubicle.

42, 44. Combined 500k. Condo worth 3 mil. No kids. 5 year old German car and still lim kopi in ang mo kio kopitiam.

My spouse and I are your below average grad couple in the work place. We don't earn much, just enough to afford a 4 room HDB flat. However, we were lucky in property. In 2006, we saw condo prices went down a lot. At that time, we were in our early 40s and had no more mortgage on our HDB flat (we bought very cheap many years earlier), so we took the plunge to upgrade to a condo, which we bought at $800k. People taught we were crazy as our combined income then was only $80k. But after selling our flat and using some cash savings, we only need to take a mortgage loan of $400k, which was a big amount then.

Now, fast forward, as we looked back, we did the right thing. Our condo is now worth $1.8m while our mortgage is left at $200k. We used our bonuses to pay down as much as we can. Our income grew to $140k pa combined today. Now we are in our late 40s, and our net worth grew from $500k in 2006 to $2m today. We were indeed fortunate to be brave enough back in 2006 to upgrade when everyone around us says don't upgrade as they thought prices will fall further.