How much are you earning per annum?

50 years old
Wife, 45 years old
Home is a 3 bedroom condo, worth $1.2m, paid up.
Car is a 5 year old Jap car, paid up.
Total annual income, $120k pa.
Annual expenses, $90k pa.

Retirement plan is to sell our current condo and downgrade to a studio unit condo.
Don't plan to have a maid and a car in retirement.
Alternatively, we can retire in Malaysia or Thailand. Our condo can fetch a decent rent as passive income.

We hope to retire by 65 when we get our CPF Life payout (about $2,400 per month combined).

Originally Posted by Unregistered

58 & 55 year old retired corporate exec couple in the investment banking sector. Sold our landed property (fully paid) last year and bought 3 condos (fully paid) - one for my wife and I (our retirement home), one for my son (banker) and one for my daughter (lawyer). Decided to give part of our wealth to our kids now rather than wait till we die. Let them enjoy earlier.

Our children are so happy that they each gives us $2k pm in allowance or $48k pa. Our passive income from our investments $120k pa. So total passive income $168k pa. Our expenditure is $68k pa. We save $100k pa. Our investments in our career, stocks, landed property and even children (not expecting anything from them actually) have paid off nicely.

You are the richest among us here. Good example of a loving parent. We all aspire to be like you.

It's such fun to come and read these BS everyday. Great website!

Originally Posted by Unregistered

It's such fun to come and read these BS everyday. Great website!

Especially by the various car salespersons !

Speak for yourself lah, dun drag us into your pit.

Originally Posted by Unregistered

You are the richest among us here. Good example of a loving parent. We all aspire to be like you.

34 yo
36 yo
Income pa : $350k
Cpf : $260k
Cash: $250k
Investments : $100k
property value at $3mio (landed freehold)

Originally Posted by Unregistered

34 yo
36 yo
Income pa : $350k
Cpf : $260k
Cash: $250k
Investments : $100k
property value at $3mio (landed freehold)

Sorry forgot to include mortgage loan at $2mio

40 / 41 yo
Combine Income pa : $600k
Cpf : $450k
Cash: $1.8m
Property value $5mio Loan $2.4m

I just read about Gurnit resigning from his full time work to do part time work so that he can spend more time with his family. This is the best news I have read for the whole year. It shows how caring and loving Gurmit is as he has to forgo lots of money and wealth. He even sold his house and moved to a 3 bedroom condo to be debt free (good move Gurmit as landed properties are way overvalued and landed prices are moving down fast).

I respect and salute Gurmit for making the right move. We live only once in this temporary dunya and our life is short. The Hereafter is permanent. We don't want to leave this world with tons of wealth but remembered as a lousy father and the father who is not there.

I was like him but made the same moves. My family and I are now very happy and contented and we have more than enough. Happiness is not about wealth, status or fame. It is about your good relationship with your One and Only Creator and with your family and those around you.

We don't and will never really know the full reasons for his decision to move out from media corp. For one thing, he is not getting any younger. Being a comedian is tough and he can see the younger ones coming up fast. It is a good move though to step down while on top when people still have good impressions of you. Many celebrities find it hard to accept their fading popularity as they age.

Life is always about balance and it is thus also not wise to suddenly stop work and spend full time with your loved ones who may not fully appreciate all this attention. They also want their space.

And it is really hypocritical of people who have already made their fortune to say that money is not important. There are many parents out there working hard to ensure their families have comfortable lives. So do not go and trivialize and cheapen their hard work. You think, if given the choice they would not choose to spend more time with their loved ones but instead go to work?

So I say again don't be hypocritical. You know who will judge you, not us for sure.

Originally Posted by Unregistered

I just read about Gurnit resigning from his full time work to do part time work so that he can spend more time with his family. This is the best news I have read for the whole year. It shows how caring and loving Gurmit is as he has to forgo lots of money and wealth. He even sold his house and moved to a 3 bedroom condo to be debt free (good move Gurmit as landed properties are way overvalued and landed prices are moving down fast).

I respect and salute Gurmit for making the right move. We live only once in this temporary dunya and our life is short. The Hereafter is permanent. We don't want to leave this world with tons of wealth but remembered as a lousy father and the father who is not there.

I was like him but made the same moves. My family and I are now very happy and contented and we have more than enough. Happiness is not about wealth, status or fame. It is about your good relationship with your One and Only Creator and with your family and those around you.