How much are you earning per annum?

You will have no problem retiring if you open your mind. You can sell your condo and invest in the stock market to buy high dividend 5% yield blue chips. Let's say you sell your condo at $1.2m when you reach 65. You buy stocks and get $60k pa dividend. You and wife will also get the CPF Life $2,400 pm or $28.8k pa so in total your passive income is $88.8k or RM238k pa. So you can retire rich in KL or Penang.

Originally Posted by Unregistered

Husband and wife, 50 and 54 years old. Been married for 20 years and blessed with two wonderful children. Even though we are not very rich compared to the many forumers here, we are happy and contented.

Home: 3 bedroom OCR condo, 2 years old. Worth $1.1m, paid up.
Car: 1 year old, paid up.
Total salary (both combined): $120k pa.
Cash savings: $30k.
CPF (OA + SA + MA): $400k.
Total net worth: $1.53m.

Any suggestions how we can start preparing for retirement?

Average power couple. Husband and wife, 50 and 51 years old. Three children.

Home: 4 bedroom OCR condo. Worth $1.6m, paid up.
2 Cars (conti): paid up.
Total salary (both combined): $400k pa.
Passive income: $130k pa (incl CPF interest)
2nd property : $1.2m, loan :$500k
Cash savings & FDs: $500k.
CPF (OA + SA + MA): $1.4m
Stocks: $1m
Total net worth: $5.2m.

Passive income: $55k from stocks dividends + $42k from CPF + $33k from rental = $130k

Gotta work till 55 to withdraw CPF yearly interest for spending.

Mr. Car dealer,
How is the new orders take up at the Singapore Motor show?
Will there be sufficient orders to be absorbed by the 40% increase in COE quota?
if not, we shall be seeing a COE drop soon!

Couple, 48 & 49, son in Uni.
Income S$100k pa combined.
4 room HDB flat, paid up, worth S$450k.
Cash and cpf, S$400k combined.
Total net worth $850k.
We plan to work until 55.
By then our son will be married and staying in his BTO flat with his wife.
We will sell our HDB flat. Will use the cash proceeds plus our cash savings to invest $650k in dividend stocks. This will give us $32.5k pa in dividends (5% dividend yield).
We will retire in JB and convert the dividends to RM, giving us passive income of RM88k pa.
We estimate that we need RM48k pa to retire in JB, including renting a new 2 bedroom condo.
Will save RM40k pa.

Since you are so rich, do you plan to upgrade to an Orchard condo or a GCB?

Originally Posted by Unregistered

Average power couple. Husband and wife, 50 and 51 years old. Three children.

Home: 4 bedroom OCR condo. Worth $1.6m, paid up.
2 Cars (conti): paid up.
Total salary (both combined): $400k pa.
Passive income: $130k pa (incl CPF interest)
2nd property : $1.2m, loan :$500k
Cash savings & FDs: $500k.
CPF (OA + SA + MA): $1.4m
Stocks: $1m
Total net worth: $5.2m.

Passive income: $55k from stocks dividends + $42k from CPF + $33k from rental = $130k

Gotta work till 55 to withdraw CPF yearly interest for spending.

Originally Posted by Unregistered

Since you are so rich, do you plan to upgrade to an Orchard condo or a GCB?

With 5.2million net worth just nice can buy the maids' room plus 1 toilet and a strata share of the driveway leading to the GCB lol

Despite Friday night, the Motor Show in Suntec was crowded just now. I think it will be more crowded with families tomorrow and Sunday. I won't be surprised if there is a tsunami of orders from the 100,000 car owners who need to change to new cars in 2015. Another 100,000 will need to change in 2016.

I predict the COE prices will be higher in the next bidding and subsequent biddings. Pls note that I don't work in the car sales industry.

Out of 100,000 car owners with expiring COEs, only two-thirds will go and get new COEs.
The remaining 1/3 will drop out as they cant afford to pay 50% downpayment due to high mortgage debt with impending Sibor spike.....
Singapore economy is slowing down too
Population growth are mostly the 40,000 new born babies (cant drive) and work permit holders ( take MRTs), not forgetting the 60s-70s who are giving up driving due to failing eyesight....
With downtown line coming, more people will not drive to work
Government is also reducing car park lots in city area to reduce congestions

The prosperity of singaporeans are mostly linked with property boom
With property bubble bursting now, many singaporeans will feel the pinch on their net worth, buying new cars are not the first thing in their mind

Originally Posted by Unregistered

Despite Friday night, the Motor Show in Suntec was crowded just now. I think it will be more crowded with families tomorrow and Sunday. I won't be surprised if there is a tsunami of orders from the 100,000 car owners who need to change to new cars in 2015. Another 100,000 will need to change in 2016.

I predict the COE prices will be higher in the next bidding and subsequent biddings. Pls note that I don't work in the car sales industry.

Originally Posted by Unregistered

Out of 100,000 car owners with expiring COEs, only two-thirds will go and get new COEs.
The remaining 1/3 will drop out as they cant afford to pay 50% downpayment due to high mortgage debt with impending Sibor spike.....
Singapore economy is slowing down too
Population growth are mostly the 40,000 new born babies (cant drive) and work permit holders ( take MRTs), not forgetting the 60s-70s who are giving up driving due to failing eyesight....
With downtown line coming, more people will not drive to work
Government is also reducing car park lots in city area to reduce congestions

The prosperity of singaporeans are mostly linked with property boom
With property bubble bursting now, many singaporeans will feel the pinch on their net worth, buying new cars are not the first thing in their mind

Finall seeing some posts with logical reasoning, its true that with the impending COE quota tsunami coming up, patience is the key to reap the eventual reward of a $30k COE by next 2 years

Huat Ah!

Need advice from experts here.
My Hdb flat still have 250k loan with Dbs. (Should have resale value 650k now)
Myself and wife combined have 230k in CPF OA and 193k in CPF SA
And 350k in cash.
I'm thinking of getting a second property (small condo apartment) around $620k.
Our monthly income is about 10k take home combined.
Can we afford the second property?
What are the rules and additional tax for getting a second property?
What would be the best approach to use my cash and cpf to pay for the second property?
Hope to hear advice on these. Thanks