How much are you earning per annum?

Luckily waiting is free. Everyone can do it - wait.

The only thing that can bring COE down to below $40k is an economic downturn. That will reduce demand for cars, thus COE price will fall. So be sure you are not one of those who will not be able to buy a car then.

Similarly for property. During the GFC (08/09) period, home prices were quite badly hammered down, because people were out of jobs and cannot afford to buy.

So it is not necessary a good thing when car and home prices fall, it means a lot of people are out of jobs and cannot afford to buy them!

Originally Posted by Unregistered

For me, I am waiting for COE prices to crash so that I can change my current ride which will expire 2016. I think it will drop below $30k.

Absolutely true. I remembered during the 1997-8 Asian financial crisis, prices of properties and cars crashed but people cannot take advantage of it because many lost their jobs, even though they want to buy but they can't or they are afraid of their own economic survival. Be careful what you wish for. If COE crash to $30k, it is likely you and your wife will have lost your jobs or about to lose your jobs. In fact you will be rushing to sell away your current car as you may not be able to afford.

Originally Posted by Unregistered

Luckily waiting is free. Everyone can do it - wait.

The only thing that can bring COE down to below $40k is an economic downturn. That will reduce demand for cars, thus COE price will fall. So be sure you are not one of those who will not be able to buy a car then.

Similarly for property. During the GFC (08/09) period, home prices were quite badly hammered down, because people were out of jobs and cannot afford to buy.

So it is not necessary a good thing when car and home prices fall, it means a lot of people are out of jobs and cannot afford to buy them!

Originally Posted by Unregistered

The people who suffers most are the old retirees who depended on rental income from their empty rooms to rent to FTs. Now with the oversupply of properties and low demand due to FT restrictions, these old folks have little or no income. If things gets worse, they may have to sell their home to get cash. I pity them. I hope more FTs are allowed to work here so that these old folks can rent their spare rooms and get passive income. I hope they don't have to work at their old age. Supply of land must also be cut to allow the oversupply problem to improve. We have a serious problem of property oversupply and empty condos. If we don't bring in more FTs now, our property market may collapse and causing banks and the economy to collapse as well. Urgent action is required now. We need more FTs now to rent the empty condos. But please restrict them from buying condos so that they can rent the empty condos.

So where does this strategy of yours end, so we need FTs to give old people rent money?? how dumb-ass a logic is that? I have no sympathy for people who bought condos thinking they can flip it or rent it to FTs and make money, if these people end up being flipping themselves off their million dollar balconies or shafted thats all well and good in my books....just do not come crying to the rest of us who play by the rules and live within our means cos you lost money playing property blackjack in the casino island....

Cannot invest in SGD and property in Singapore at this juncture. Why? Below is a extract written by one Singaporean some where:-

1) Spore Govt is now trying to weaken Sing Dollar due to erosion of competitiveness. A Strong Sing Dollar is Bad For Singapore Exports. Many Singapore Company CEOs are pessimistic now.

2) Singapore might appear well off to Malaysians. "APPEARANCE ONLY"

The reality is this. Singapore Citizens are paying for everything at "SKY HIGH" Prices. Cars must be Scrapped by 10 Years when COE expires. Most Singaporeans cannot afford a car. Most live in pigeon holes of small HDB flats. In Malaysia most average family have 2 cars & live in a house with on small garden. In Spore it is only a dream.

3) Singaporeans are Avid Shoppers. Most don't have enough savings for retirement. I think over the longer term many will have to work till 90 years old. Some might even work till 100 years old.

4) Singapore FD is less than 1% with 3% inflation rate. It is detrimental for savers and pensioners. So Don't Exchange Your Ringgit For Sing Dollar.

Better invest in Under Value Stocks of KLSE.

Another Investment is

LANDED HOUSES IN ISKANDAR

You Must Buy Up All Available Single Storey & Double Storey Houses in Iskandar While They Are Still SO CHEAP (AVOID ALL HIGH END CONDOS IN ISKANDAR - IT'S FINANCIAL SUICIDE TO BUY THEM)

In Iskandar They Don't Build Single Storey or Double Storey Houses anymore. If any are available they will be quickly snapped up.

So You Must Buy From Secondary Market While They Are still selling at 20% to 30% of KL or Penang Prices!

Below are my replies to the points:

Originally Posted by Unregistered

Cannot invest in SGD and property in Singapore at this juncture. Why? Below is a extract written by one Singaporean some where:-

1) Spore Govt is now trying to weaken Sing Dollar due to erosion of competitiveness. A Strong Sing Dollar is Bad For Singapore Exports. Many Singapore Company CEOs are pessimistic now.
(The Singapore government has to come in to intervene to deliberately weaken the SGD. The M'sian government is helpless to stop the weakening ringgit.)

2) Singapore might appear well off to Malaysians. "APPEARANCE ONLY"
(Many Singaporeans can easily landed properties in M'sia if there was no restrictions. Many M'sians cannot afford even 3 room flats in Singapore)

The reality is this. Singapore Citizens are paying for everything at "SKY HIGH" Prices. Cars must be Scrapped by 10 Years when COE expires. Most Singaporeans cannot afford a car. Most live in pigeon holes of small HDB flats. In Malaysia most average family have 2 cars & live in a house with on small garden. In Spore it is only a dream.
(Singaporeans are paying sky high prices for cars and homes, M'sians can only talk about it)


3) Singaporeans are Avid Shoppers. Most don't have enough savings for retirement. I think over the longer term many will have to work till 90 years old. Some might even work till 100 years old.
(Those Singaporeans who cannot afford to retire in Singapore will retire in M'sia)

4) Singapore FD is less than 1% with 3% inflation rate. It is detrimental for savers and pensioners. So Don't Exchange Your Ringgit For Sing Dollar.
(Bank interest rates are low in singapore. But if you keep them in ringgit in M'sian banks, you will lose much more through currency depreciation)

Better invest in Under Value Stocks of KLSE. (KLSE stocks are not undervalued, that's their true values.)

Another Investment is

LANDED HOUSES IN ISKANDAR

You Must Buy Up All Available Single Storey & Double Storey Houses in Iskandar While They Are Still SO CHEAP (AVOID ALL HIGH END CONDOS IN ISKANDAR - IT'S FINANCIAL SUICIDE TO BUY THEM)

In Iskandar They Don't Build Single Storey or Double Storey Houses anymore. If any are available they will be quickly snapped up.

So You Must Buy From Secondary Market While They Are still selling at 20% to 30% of KL or Penang Prices!

Let me explain to you why by the very nature of the property market, there will always be discontentment over high property prices.

The property market in singapore is like a pyramid in terms of no vs price. Right at the top with very few nos is GCB followed by Bungalows,Semi D, terrace, condo, EC, HDB EA, 5 room, 4 room, 3 room and 2 rooms. The majority of people in Singapore stay in 4 room flats.

Let's say it is 2006 all over again.
A young couple buys a 4 room flat for $250k while an older couple buys a 1700sf FH terrace for 900k.

It is 2014. Young couple's 4 room flat is now worth $500k while older couple terrace is worth 1.8million..... The same 100% increase in price.

By your theory both couples are happy or equally happy. BUT do remember that the young couple, being young and knowing how to count, knows that a gain of $250k is NOT equal to a gain of $900k. In fact if ALL properties gained by 100%, the ones at the lower part of the pyramid will find it impossible to upgrade due to the simple fact that in 2006, the actual gap between the property that they own and what they aspire to get is small while in 2014, the gap has grown tremendously large.

This is the crux of the unhappiness behind the property price increases. There is only a group of people who may be happy I.e. The down graders or the people who Re selling to stay in Iskandar or Perth.

As for me, I am with the unhappy majority cos I am waiting to leap from HDB EA to terrace.

Yes, there are also a lot of unhappy majority because they find it difficult now to upgrade from their current penthouse condo to a GCB, which is beyond their reach now. Very unhappy.

Home is a condo bought in 2013. Current value $1.05m. Mortgage outstanding $238k. Home equity $0.812k. Other assets are cash, cpf and stocks worth $700k. Total net worth $1.512m. Total income $170k pa. Expenses $120k pa. Savings $50k pa. We are 45/ 43 years old. Kids are 15/ 18.

How are we doing? Any advice on how to prepare for retirement?

25yo this year.
2.9k basic + 6mths bonus this year.
diploma only in O&M.
poor. how to reach 100k first?

Don't lumped yourself with the majority, because you are not one of them. Here is why.

1. You repeated this post, lock stock and barrel, without any new argument. It is a sign of mental illness or sign that it is going that direction.

2. People like you are not welcome by societies any where, not to mention any government. This is because your basic problem is jealousy. People like you want to have As in your exam result without studying hard for it. You want promotion and big bonuses in your job without pulling your weight.

3. You want your wealth to grow without making effort (and taking on the attendant risks) to grow it.

4. The vast majority of HDB dwellers are quite contented.

I strongly suggest you seek contentment through a religion, or see a psychiatrist.

Originally Posted by Unregistered

Let me explain to you why by the very nature of the property market, there will always be discontentment over high property prices.

The property market in singapore is like a pyramid in terms of no vs price. Right at the top with very few nos is GCB followed by Bungalows,Semi D, terrace, condo, EC, HDB EA, 5 room, 4 room, 3 room and 2 rooms. The majority of people in Singapore stay in 4 room flats.

Let's say it is 2006 all over again.
A young couple buys a 4 room flat for $250k while an older couple buys a 1700sf FH terrace for 900k.

It is 2014. Young couple's 4 room flat is now worth $500k while older couple terrace is worth 1.8million..... The same 100% increase in price.

By your theory both couples are happy or equally happy. BUT do remember that the young couple, being young and knowing how to count, knows that a gain of $250k is NOT equal to a gain of $900k. In fact if ALL properties gained by 100%, the ones at the lower part of the pyramid will find it impossible to upgrade due to the simple fact that in 2006, the actual gap between the property that they own and what they aspire to get is small while in 2014, the gap has grown tremendously large.

This is the crux of the unhappiness behind the property price increases. There is only a group of people who may be happy I.e. The down graders or the people who Re selling to stay in Iskandar or Perth.

As for me, I am with the unhappy majority cos I am waiting to leap from HDB EA to terrace.

Yes, there are also a lot of unhappy majority because they find it difficult now to upgrade from their current penthouse condo to a GCB, which is beyond their reach now. Very unhappy.

I must say you doing very well indeed. This is only Feb (1st Feb) and you already got 6 months bonus for the year!

If I were you, just focus on this job and great company and you will surpass the $100k pa in no time at all.

Originally Posted by untitled

25yo this year.
2.9k basic + 6mths bonus this year.
diploma only in O&M.
poor. how to reach 100k first?