How much are you earning per annum?

Fools rush in

Originally Posted by Unregistered

30% LTV??? U are v kiasi...
Even our gov stopped at 50% LTV for second housing loan, and in the old days it was 80%LTV no matter how many properties an individual buys.
In general, banks will allow us to keep the property as long as we can still service the monthly loan, it does not matter to the bank by how much the property value crashes as long as the individual can still service the loan.

As long as you can service your loan, banks welcome you like 財神爺. 100 properties also no problem.
What happen if you lose your job, still expecting to use CPF OA to pay for your mortgage?
One is ok, second investment property should make you try to came life insurance (why? commit suicide ma!).
Don't be greedy, be kiasi, think safe, play safe, you and your family will be safe.

I see many naive youngsters in this forum. Obviously they were not even born during the 85 recession or they were in school during the 98 crisis. Very naive, easily fooled. Don't want to take advice, up to them. Just don't come crying when they lose their home.

Current std of living in Singapore has become so high. Many folks cannot even retire after working all their live and bring up kids. Savings are so much more important than before. Because higher education now might not necessary bring you financial security. Nowadays plenty of people have degrees and plenty of foreigners want to compete with you. I would be happy enough if my kids could support themselves and have kids. Don't expect to rely on them to fund my retirement.

Read this article

h t t p : / / news.asiaone.com/news/business/peeling-away-spores-class-layers


You are in the upper class if your household income is $8k or more.

I think most of the forumers here are upper class. Huah Ah!!!!!

Be grateful.

So many kiasi old men in this forum who prefer to buy cars rather than invest in property. In the long run property is the best way to make money in SG, if bought at a good price and continuously rented out. Some people do indeed have a secure job and bought their properties in the 2008/2009 dip, why shld they rush to sell if the property is rented out? Better than buying second and third car that only lasts 10 yrs.

Originally Posted by Unregistered

I see many naive youngsters in this forum. Obviously they were not even born during the 85 recession or they were in school during the 98 crisis. Very naive, easily fooled. Don't want to take advice, up to them. Just don't come crying when they lose their home.

Won't happen because a forum is not a place to cry and look for genuine help. A forum is just a place to talk, exchange ideas, burn time, be entertained and to be a keyboard warrior.

My wife and I are working professionals in our late 30s
Salary $220k pa salary and save about $60k pa
Own a 5-room HDB flat worth about $550k
Other savings and assets about $250k
CPF $150k
No loan except for 2 yr old car and loan left with $40k

Net worth about $400k excluding HDB flat

I don’t intend to retire early before my 60s , my wife hopes to retire by early 50s, or maybe she will continue to take up some stress-free part-time jobs. I figure that would bring our savings target to $1.5 mil (before any investment returns).

Many grad couples are doing much better than us financially, but ut we are contented with our incomes and intend to lead a simple and balanced family life instead of pursue ambitious careers. Some people say that with 3 kids we should try to earn more for them. But my wife always say that kids should be independent and not rely on parents retirement nest egg. What do you think?

Your wife is absolutely right. Our children should not be pampered and must learn to be independent as early as possible. You can help them save from young so that they have some money for their university education. If this is not sufficient, they must find ways to earn money by doing part time work or giving tuition. When I was in Uni last time, I gave tuition to help fund my studies. We should also not be worried about their housing when they get married. They must work and save by themselves for marriage and for the downpayment of their BTO flat. Anyway, BTO flats are so cheap nowadays, they can surely afford to buy a 3 room flat for $150k only, which they can pay over 25 years.

You both can retire easily since you will have your CPF Life which gives you $1800 pm for one person or $3600 pm for two persons if each of you put in $241,500 in your CPF retirement account at 65. You can also rent out your rooms at $1,000 pm for each room and so if you rent out two rooms, you get $2,000 pm from room rentals. So your passive income will be $5,600 pm. A lot of money for a retired couple with no debt.

Originally Posted by Unregistered

My wife and I are working professionals in our late 30s
Salary $220k pa salary and save about $60k pa
Own a 5-room HDB flat worth about $550k
Other savings and assets about $250k
CPF $150k
No loan except for 2 yr old car and loan left with $40k

Net worth about $400k excluding HDB flat

I don’t intend to retire early before my 60s , my wife hopes to retire by early 50s, or maybe she will continue to take up some stress-free part-time jobs. I figure that would bring our savings target to $1.5 mil (before any investment returns).

Many grad couples are doing much better than us financially, but ut we are contented with our incomes and intend to lead a simple and balanced family life instead of pursue ambitious careers. Some people say that with 3 kids we should try to earn more for them. But my wife always say that kids should be independent and not rely on parents retirement nest egg. What do you think?

Originally Posted by Unregistered

Your wife is absolutely right. Our children should not be pampered and must learn to be independent as early as possible. You can help them save from young so that they have some money for their university education. If this is not sufficient, they must find ways to earn money by doing part time work or giving tuition. When I was in Uni last time, I gave tuition to help fund my studies. We should also not be worried about their housing when they get married. They must work and save by themselves for marriage and for the downpayment of their BTO flat. Anyway, BTO flats are so cheap nowadays, they can surely afford to buy a 3 room flat for $150k only, which they can pay over 25 years.

You both can retire easily since you will have your CPF Life which gives you $1800 pm for one person or $3600 pm for two persons if each of you put in $241,500 in your CPF retirement account at 65. You can also rent out your rooms at $1,000 pm for each room and so if you rent out two rooms, you get $2,000 pm from room rentals. So your passive income will be $5,600 pm. A lot of money for a retired couple with no debt.

What about helping my son with a new car? No money, No Honey. Girls nowadays look for guys with cars. Is that true?