How much are you earning per annum?

Originally Posted by Unregistered

Not in the key cities of Shanghai and Beijing. Prime land there is scarce.

The ghost cities you read about have poor locations hence noone want to move there, they are away from the major cities, population and economic centres.

Developers selling properties in good location are doing well.

The same for Singapore. If you want to buy property, buy in growth regions such as the Jurong Lake District, Paya Lebar, Woodlands as upside potential in the longer term is good. Also must buy properties near MRT stations.

Such locations are simple for all to understand the demand but property bubble in China is just waiting to burst, just be careful at its prices now

Originally Posted by Unregistered

Such locations are simple for all to understand the demand but property bubble in China is just waiting to burst, just be careful at its prices now

It won't be allowed to burst as the effects will be catastrophic. The central bank will cut interest rates to zero if they have to. This is my opinion. Just look at US, they cut interest rates to zero to turn their property market and economy around. If the US can do this, other countries can do the same.

You have done well since you own BOTH a condo and a car. Not many people own BOTH. Since you save $50k pa, over 20 years, you will save $1m. By the time you retire, your condo would have been paid off and you would have chosen your CPF Life. No problem retiring at 65.

Originally Posted by Unregistered

46, annual income $98k pa.
Spouse, 44, annual income $115k pa.
Combined annual savings $50k pa.

Our major expenses:
Condo mortgage $2400 pm
Car loan payment $792 pm
Petrol and car related expenses $700 pm
Food, groceries and utilities $2000 pm
Parents' allowances $1400 pm
Insurance $1700 pm
Other expenses include overseas holidays, restaurant dining, etc

Total net worth, husband and wife combined (including net value of condo) $900k.

How are we doing?
Can we retire at 60?

I see people make this mistake quite often. They consider their mortgage payment as an expense. Only the interest component of your monthly mortgage payment is the expense. The bulk of the mortgage payment is actually forced savings, much like the contributions to our CPF every month.

After the home loan is paid up, the apartment or flat becomes fully yours. If mortgage was an expense, then the home will not be yours. Rental payment is an expense. After many years of paying rental, you will never get to own the apartment or flat that you are renting.

Many investment savvy people know this, that's why and how they benefitted from property investments.

I have 2 investments properties (both rented out and both not fully paid up) generating rental incomes. The rents are sufficient to cover the monthly mortgages. This is the best or ideal kind of investments. After many years of renting them out the homes become finally yours which you can then sell and pocket the money or buy newer properties.

Originally Posted by Unregistered

46, annual income $98k pa.
Spouse, 44, annual income $115k pa.
Combined annual savings $50k pa.

Our major expenses:
Condo mortgage $2400 pm
Car loan payment $792 pm
Petrol and car related expenses $700 pm
Food, groceries and utilities $2000 pm
Parents' allowances $1400 pm
Insurance $1700 pm
Other expenses include overseas holidays, restaurant dining, etc

Total net worth, husband and wife combined (including net value of condo) $900k.

How are we doing?
Can we retire at 60?

We are in our mid forties, middle income couple making only $168k pa in total. We own a condo worth $1m, with loan outstanding. We also own a car, paid up. We save $30k pa.

Our total net worth is only about $1.3m. How are we doing? Are we among the low performers in our age group? Anyone here about our age doing worse than us? We think we are not doing as well as many of our peers. Please share about yourself or someone you know. Thank you.

Originally Posted by Unregistered

We are in our mid forties, middle income couple making only $168k pa in total. We own a condo worth $1m, with loan outstanding. We also own a car, paid up. We save $30k pa.

Our total net worth is only about $1.3m. How are we doing? Are we among the low performers in our age group? Anyone here about our age doing worse than us? We think we are not doing as well as many of our peers. Please share about yourself or someone you know. Thank you.

We are also in our mid 40s.
made $320k last yr HH income
Condo fully paid worth $1.4m. Just bought a new car with minimum.loan
Cash+CPF $1m.

But living a stressful work environment. Thinking of slowing down our pace.
any suggestions from forumer?

You are very rich. You can actually retire now in Malaysia. Since you have $2.4m, if you convert to RM, you get RM6.4m. You will be a rich multi millionaire tycoon in Malaysia. You will be able to afford to employ two maids and a driver. If you retire in Thailand, you will be a multi, multi millionaire and will be a super tycoon and can live in a big bungalow and can employ 5 maids, two drivers, two gardeners and own 5 cars.

If you want to retire in Singapore, you will need to sell your condo and downgrade to a $400k HDB flat and use you money to retire.

If you want to work, change to a more relaxed job. No need to work long hours, work half day or part time. Enjoy more time relaxing with your family.

Originally Posted by Unregistered

We are also in our mid 40s.
made $320k last yr HH income
Condo fully paid worth $1.4m. Just bought a new car with minimum.loan
Cash+CPF $1m.

But living a stressful work environment. Thinking of slowing down our pace.
any suggestions from forumer?

We are older than you as we are in our late 40s. We are now retired. We sold our landed property at the recent peak of the market and made a huge profit. We then moved into a two bedroom condo unit which we paid in cash. Our son is going to NS and we have set aside money for his uni studies.

Our passive income from our investments is now more than our household expenses. We can still afford to own a small car which we use for marketing and going around places in Singapore. We are leading a happy, active retirement. It is a far cry from our stressful, busy schedule in our previous work in the finance sector. We spend a lot of time reading, exercising and enjoying the relaxed pace of life. We are also actively volunteering in charities to give back to society.

Originally Posted by Unregistered

We are in our mid forties, middle income couple making only $168k pa in total. We own a condo worth $1m, with loan outstanding. We also own a car, paid up. We save $30k pa.

Our total net worth is only about $1.3m. How are we doing? Are we among the low performers in our age group? Anyone here about our age doing worse than us? We think we are not doing as well as many of our peers. Please share about yourself or someone you know. Thank you.

Originally Posted by Unregistered

We are older than you as we are in our late 40s. We are now retired. We sold our landed property at the recent peak of the market and made a huge profit. We then moved into a two bedroom condo unit which we paid in cash. Our son is going to NS and we have set aside money for his uni studies.

Our passive income from our investments is now more than our household expenses. We can still afford to own a small car which we use for marketing and going around places in Singapore. We are leading a happy, active retirement. It is a far cry from our stressful, busy schedule in our previous work in the finance sector. We spend a lot of time reading, exercising and enjoying the relaxed pace of life. We are also actively volunteering in charities to give back to society.

Great to hear of so many successful people in this forum.

Originally Posted by Unregistered

Great to hear of so many successful people in this forum.

Singapore boleh. Huat ah!