How much are you earning per annum?

You should have no problem retiring comfortably. Here are some suggestions:

1. Make sure you and wife can achieve $241,500 in both your CPF SA when you are 55. You will then get $1900 pm and your wife will get $1900 pm from CPF Life when you retire at 65. So in total you get $3800 pm (or $45,600 pa) as a retired couple.

2. You can sell your 3 bedroom condo and move to a studio condo. Let's say you sell your paid up condo for $1.2m and buy a studio condo for $700k. You will then have cash balance of $500k which you can invest in 5% dividend yield blue chips. This give you $25k pa.

3. Each of your two kids contribute $500 pm. So you get $1000 pm or $12k pa.

In total, you and wife will have passive income = $(45,600 + 25,000 + 12,000) = $82,600 pa or $6,883 pm. This is more than enough if you lead a simple life.

Do not smoke, do not drink, do not gamble, do not womanise, do not overspend, do not employ a maid and do not own a car.

Originally Posted by Unregistered

50 year old guy, 45 year old wife. Total annual income $165k. We have two children in sec schools. We live in a 3 bedroom condo which we bought in 2013. Current value of the condo is $1.1m and loan outstanding is $200k. We have cash savings and we bought a new car last year which we paid in cash. We lead a simple middle income lifestyle. Our total net worth is $1.5m, comprising our home equity, CPF, car and cash savings.

We are happy with our achievement thus far since we came from low income families. Our hard work in school and at work has paid off quite well. Even though we are not top earners, we are contented and at peace since we don't have much debt, our debt is just our remaining home loan which we pay by our CPF funds.

We are happy and grateful to be able to own a condo and a new car. We feel blessed.

Lol. This is an anonymous forum after all.

I shared a lot about my salary, net worth and passive income in various posts. I find that if you just throw everything in their face, people will not believe you, but if you take the trouble to give a bit of history (as in how you build up the net worth), and a breakdown to that net worth, it is easier for them to accept. So far, I think my various posts scored 50-50 between believers and non-believers.

But I couldn't care less if people believe or not. What I find unpleasant was the jealous and nasty comments.

Let me give you an example of "throw everything in your face" post

My income: $250k pa
Wife income : $150k pa
Passive income : $120k pa
Expenses : $140k pa

Net worth : $5.5m

Originally Posted by Unregistered

I have made false statements here and people have agreed to them.
I have made real statements and people have vehemently disagreed to them.
Sometimes I get bored and I reply to my own posts too.

46, retired. Ex corporate high flyer from the finance sector. Life is so much relaxing now.
Managing my own investment portfolio, generating income of $200k pa from dividends and trading profits. Household expenses $100k pa. Wife is a housewife. Daughter in JC. Penthouse condo and continental car fully paid up. Debt free. Have also set aside daughter's Uni studies fund overseas if she doesn't get a scholarship (based on her track record she should be offered multiple scholarships).

Wow! You're awesome bro!

I think you're the most successful and richest person in this forum, definitely richer and more successful than the oldies here. You're our role model. I'm sure there will be many people who will be jealous of you, especially those oldies in their 50s and 60s who have to still report to their younger bosses every morning. LOL.

Indeed, being a top gun in the finance sector is one sure way towards early retirement. And your investing skills is useful even in your retirement.

You're the man, bro!

Originally Posted by Unregistered

46, retired. Ex corporate high flyer from the finance sector. Life is so much relaxing now.
Managing my own investment portfolio, generating income of $200k pa from dividends and trading profits. Household expenses $100k pa. Wife is a housewife. Daughter in JC. Penthouse condo and continental car fully paid up. Debt free. Have also set aside daughter's Uni studies fund overseas if she doesn't get a scholarship (based on her track record she should be offered multiple scholarships).

Originally Posted by Unregistered

You should have no problem retiring comfortably. Here are some suggestions:

1. Make sure you and wife can achieve $241,500 in both your CPF SA when you are 55. You will then get $1900 pm and your wife will get $1900 pm from CPF Life when you retire at 65. So in total you get $3800 pm (or $45,600 pa) as a retired couple.

2. You can sell your 3 bedroom condo and move to a studio condo. Let's say you sell your paid up condo for $1.2m and buy a studio condo for $700k. You will then have cash balance of $500k which you can invest in 5% dividend yield blue chips. This give you $25k pa.

3. Each of your two kids contribute $500 pm. So you get $1000 pm or $12k pa.

In total, you and wife will have passive income = $(45,600 + 25,000 + 12,000) = $82,600 pa or $6,883 pm. This is more than enough if you lead a simple life.

Do not smoke, do not drink, do not gamble, do not womanise, do not overspend, do not employ a maid and do not own a car.

Niama, this sounds like a PAP cut and paste template. Come up with something new pls. Its boring. Is there nothing else new to read... Diu

Originally Posted by Unregistered

46, retired. Ex corporate high flyer from the finance sector. Life is so much relaxing now.
Managing my own investment portfolio, generating income of $200k pa from dividends and trading profits. Household expenses $100k pa. Wife is a housewife. Daughter in JC. Penthouse condo and continental car fully paid up. Debt free. Have also set aside daughter's Uni studies fund overseas if she doesn't get a scholarship (based on her track record she should be offered multiple scholarships).

Increasingly more and more high flying professionals are retiring young, the majority I think was from the high flying banking and finance sector. This is not surprising as these high flyers like yourself made their fortune working day and night there. To be able to survive the intense environment there till their 40s is remarkable. Most younger ones who entered the industry would leave in their 30s as the pressure and stress is just too much. Anyway good for high flyers who have made enough to retire in their 40s enjoy the fruits of their labour. No point becoming slaves in such an environment which may bad for your health. You may also die young if you stay there too long.

Originally Posted by Unregistered

Tomorrow the 1st Feb 2015 COE bidding starts. Even though supply of COE has increased, demand will increase more. We can expect a lot of bookings during the Singapore Motor Show last month. With petrol prices now very low, people are switching from taking the taxi to driving their own cars.

When demand is greater than supply, price will rise.

How things change so fast in 2 weeks. With the tsunami of COE quota upcoming, it looks like we are getting $40k COE faster than we thought... Just nice for me to change my ride for a better car. makes me feel good and just in time for GE2015. HUAT AH!

Originally Posted by Unregistered

How things change so fast in 2 weeks. With the tsunami of COE quota upcoming, it looks like we are getting $40k COE faster than we thought... Just nice for me to change my ride for a better car. makes me feel good and just in time for GE2015. HUAT AH!

I'm hoping for COE to go down to $20k for Cat B. I can buy new cars for myself, my wife, my son, my daughter and my parents. I'm looking at some nice conti cars. Huat Ah!

Bro I also think the COE will plunge. Reason is because there are many AD which are backlog and people have to wait up to 6 months to get their car. With the new orders being pushed back, and the release back of many deregistration, we will definitely see a decline in the COE within this year. Congrats for being very patient and enjoy your new ride!

Originally Posted by Unregistered

I'm hoping for COE to go down to $20k for Cat B. I can buy new cars for myself, my wife, my son, my daughter and my parents. I'm looking at some nice conti cars. Huat Ah!

Me too! I will get a Merz, my wife a BM, my son an Audi, and my daughter a Mini. What a Huat Huat 2015