How much are you earning per annum?

Originally Posted by Unregistered

Finally the car dealer has gone missing after telling everyone that COE will sky rocket the roof, when the fact is COE just started its decline journey. Ha ha.

I think he is too ashamed to appear in this forum anymore since his prediction has gone nuts.

You should get married fast and buy a 4 room BTO flat which will cost you $200k. Then you can rent out your empty rooms and get your passive income. So easy. We must welcome more FTs here so that they can rent our rooms. Many retirees are surviving on room rental. If we don't have FTs renting our empty rooms, then our old uncle and aunties will have to work until they die. Our hdb flat is our retirement asset provided we have FTs to rent the empty rooms.

Originally Posted by Unregistered

1989
71k pa (exclude bonus)
Non-grad
IT in a foreign bank
Single
No assets/liabilities

Investment: endowment and cpf only

Any tips to have a decent passive income?

Originally Posted by Unregistered

This is a good retirement strategy. Retirement should not be difficult if you have these:

1. A paid up property. You can rent out your empty rooms to FTs. But we must welcome more FTs or else we have empty rooms and empty condos. You can rent $700 for each hdb flat room so you get $1400 pm for two rooms.

2. CPF Life. You will get $1200 pm for one person or $2400 for a retired couple.

3. Children. Each child can give you $500 pm so if you have 2 children, you will get $1000 pm.

So, in total your passive income as a retired couple is $4,800 pm.

The amount is considered huge and more than you need provided you:

1. Do not own a car during retirement.
2. Do not employ a maid which now will cost you $1000 pm.
3. Do not drink. Waste of money and will incur big medical bills. Sinful.
4. Do not smoke. Waste of money and will incur big medical bills.
5. Do not gamble. Will lose a lot of money. Sinful.
6. Do not womanize. Lose a lot of money. Sinful.
7. Do not party. Waste money. Sinful.

All the best.

Nagging is quite sinful as well ya know....so many DO NOTs may as well not be alive...

You are doing very well for your age. To be able to own and live in a condo and to own a car in Singapore is a BIG achievement. Well done. Not many people can afford to live in a condo here. 80% of Singaporeans live in public housing, so you are among the lucky few. Congratulations.

Originally Posted by Unregistered

47/ income $133k pa / savings $40k pa
Wife 42/$100k pa/ savings $40k pa
Assets: condo, cash, car, CPF
Liabilities: condo mortgage
Condo is now worth $1m while mortgage left is $500k
Our combined net worth:
1. Condo equity value $500k
2. Cash $40k
3. CPF (OA+SA+MA) $450
Total net worth $990k

Originally Posted by Unregistered

You are doing very well for your age. To be able to own and live in a condo and to own a car in Singapore is a BIG achievement. Well done. Not many people can afford to live in a condo here. 80% of Singaporeans live in public housing, so you are among the lucky few. Congratulations.

Thanks. Yes we are indeed fortunate to be able to afford both a condo and car. We are the only ones in our big extended family to live in a condo. We managed to pay in full our new car in cash. The cost was quite a big sum which we took from our savings but at least we don't have to take a car loan. We will continue to save over the next 10 years for our next car.

Originally Posted by Unregistered

Thanks. Yes we are indeed fortunate to be able to afford both a condo and car. We are the only ones in our big extended family to live in a condo. We managed to pay in full our new car in cash. The cost was quite a big sum which we took from our savings but at least we don't have to take a car loan. We will continue to save over the next 10 years for our next car.

you don't have to save up and wait for next 10 years for next car.

COE will plunge in 2 years time, and by that time, anyone can buy a new car.

My spouse and I retired in 2013 after spending more than 25 years in the corporate sector. We sold our big semi-detached house and downgraded to a smaller sized penthouse condominium unit which we got at a bargain price of only $2m. We invested the net cash balance into high dividend yield stocks and REITs to earn passive income.

We have also built up our stocks investments over the years and in total we are now earning a passive income of $120,000 per year. Expenses for my spouse and I amounts to $60,000 per year, including a comprehensive medical insurance. Our son, who is already working, pays for his own things and contribute to our household expenses.

Being debt free, we are still able to save $60,000 (50%) of our passive income per year. We are 55 and 54 this year.

Originally Posted by Unregistered

My spouse and I retired in 2013 after spending more than 25 years in the corporate sector. We sold our big semi-detached house and downgraded to a smaller sized penthouse condominium unit which we got at a bargain price of only $2m. We invested the net cash balance into high dividend yield stocks and REITs to earn passive income.

We have also built up our stocks investments over the years and in total we are now earning a passive income of $120,000 per year. Expenses for my spouse and I amounts to $60,000 per year, including a comprehensive medical insurance. Our son, who is already working, pays for his own things and contribute to our household expenses.

Being debt free, we are still able to save $60,000 (50%) of our passive income per year. We are 55 and 54 this year.

Do you plan to buy a new Car during retirement? The car prices look se for a correction soon.

41 yrs old uni grad $130k pa
Wife 38 yrs old uni grad $130k pa
2 kids
Fully paid 4 room HDB
2 fully paid cars 6-7 years old
Condo with mortgage loan of $600k
Savings $400k combine

Originally Posted by Unregistered

41 yrs old uni grad $130k pa
Wife 38 yrs old uni grad $130k pa
2 kids
Fully paid 4 room HDB
2 fully paid cars 6-7 years old
Condo with mortgage loan of $600k
Savings $400k combine

How much is your combined net worth?