How much are you earning per annum?

The Huat man aka car dealer is back again.

Originally Posted by Unregistered

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

Indeed if all are legitimate claims this forum would easily be the leisure field for some top 10% of our local working group with nothing better to do, only they themselves know deep within.

Originally Posted by Unregistered

Indeed if all are legitimate claims this forum would easily be the leisure field for some top 10% of our local working group with nothing better to do, only they themselves know deep within.

Not surprising to see many high calibre, successful professionals retiring young. These high flyers are usually from the finance sector, hardly any of them are from sectors such as engineering or IT.

They have worked very hard early in their careers, made their fortune and so it is time to enjoy their wealth.

Is it considered too young to retire in SG by 45? Maybe do some light jobs.

We have a fully paid condo and car

Cash+CPF $800k

2 teenage kids.

Originally Posted by Unregistered

Is it considered too young to retire in SG by 45? Maybe do some light jobs.

We have a fully paid condo and car

Cash+CPF $800k

2 teenage kids.

Condo and car are the biggest household expenses. If you have fully paid them both, your expenses for a family of 4 will not be much. Only about $5k pm is enough. So, you get a simple light job earning $4k pm, your wife can earn $3k pm, so no need to earn so much. Family and life is more important than money.

Originally Posted by Unregistered

Condo and car are the biggest household expenses. If you have fully paid them both, your expenses for a family of 4 will not be much. Only about $5k pm is enough. So, you get a simple light job earning $4k pm, your wife can earn $3k pm, so no need to earn so much. Family and life is more important than money.

Thanks for the advise

I will quit my job soon and retire at 45 and relax around.

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.

You certainly doing very well based on your income level. I suppose most of the $1.3m networth comprises of the condon? Going forward you focus on increasing non-property investment so that you can be better diversified.

Originally Posted by Unregistered

Is it considered too young to retire in SG by 45? Maybe do some light jobs.

We have a fully paid condo and car

Cash+CPF $800k

2 teenage kids.

You will not be able to retire with just 800k given that you are already in your 40's! Unless you sell your condo and downgrade to a hdb 3rm flat or smaller hdb flat. But be prepared for cultural shock.....

If you're in early 30's, then congratulations, you will have more than $2m in non-property investments. You will be getting sufficient returns (in the form of dividends and capital gains) to retire comfortably at 45. And by then your kids will be working and no longer dependents.

Originally Posted by Unregistered

Thanks for the advise

I will quit my job soon and retire at 45 and relax around.

How are you planning to retire? If your cash + CPF is $800k, and assuming your CPF is $400k (which you can't use for retirement yet), you are only left with $400k cash which is not enough for retirement. If you really want to retire now, you will need to sell your condo for $1.4m and downgrade to a $400k four room HDB flat. You will then get $1m and plus your $400k cash, you then have $1.4m to invest in 5% dividend yield stocks which gives an annual dividends of $70k pa. Then you must make sure your household expenses is less than $70k pa.

Originally Posted by Mongfeli

I am a Banker and my annual income is $20000 . But i am not satisfied with my annual income.




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That's a bit on the low side...