How much are you earning per annum?

I think many people here are quiet after losing money in stocks. They listened to some "smart" guy asking them to buy when stocks are crashing.

Originally Posted by Unregistered

This forum has not seen much traffic in the last week or so, which is strange given that it was once a busy thoroughfare with up to 5 posts in a day.

This has led me to suspect that there was actually only 4 to 5 different contributors. Otherwise how to explain that the traffic has virtually come to a standstill. If not, it is difficult to imagine everyone colluding not to contribute.

The last 3 posts seemed to be from the car salesman, the "how are we doing? Can we retire by 55" guy, and the old multi-millionaire (yours truly).

I hope you people are ok, or busy with your work and not because of problems. By the way, any of you helping out in the coming election? Either with the political parties or as officials preparing the voting centers?

Not likely right? Usually people who lost money following others' advise will KPKB already

I think if they really followed the advice of the smart guy, they would be slowly picking up good stocks along the way. The trick is to pick them up when the prices are beaten down and hold them for long term dividends play.

You should try it. Then you can join the many posters here who happily shared that they are getting enough dividends to fund their retirement.

Market downturns present the best window of opportunity. When others run out, it is time to go in and pick up bargains.

Originally Posted by Unregistered

I think many people here are quiet after losing money in stocks. They listened to some "smart" guy asking them to buy when stocks are crashing.

Total income, both active and active income, $168k pa.
Lives in a condo, no more mortgage.
Owns a one year old small car, fully paid up.
Go overseas holidays, once a year, spends $10k pa on holidays.
Currently in our late 40s. Debt free.
Total net worth (condo, car, CPF, cash) $1.8m.
We are happy with our achievement.

Is your job secure? Having a stable job and steady salary increment are key ingredients to building up sufficient retirement fund.

If you and spouse require $60k pa ($5k pm) in your retirement, the amounts over the years that you will need are :

10 yrs - $600k
20 yrs - $1.2m
30 yrs - $1.8m

With 3% ave inflation factored in, the amounts required become:

10 yrs - $687k
20 yrs - $ 1.6m
30 yrs - $2.2m

And this amount should not include your primary residence otherwise you will have to downgrade. Many people were caught unprepared without planning well ahead. When they retired they found that their savings were unable to last the distance and they had to reluctantly downgrade. For some, they had to downgrade a few times - from condo to 4 rm HDB, and then again to 2 rm flat.

My advice is to cut back your expenses where you can and plan to work as long as you can. $1.6m in networth which included the value of your home doesn't leave much room for error. Some more you already in your late 40s.

Originally Posted by Unregistered

Total income, both active and active income, $168k pa.
Lives in a condo, no more mortgage.
Owns a one year old small car, fully paid up.
Go overseas holidays, once a year, spends $10k pa on holidays.
Currently in our late 40s. Debt free.
Total net worth (condo, car, CPF, cash) $1.8m.
We are happy with our achievement.

We have worked out our retirement plan. We will retire at 58. First we will sell our condo and get $1.2m. Then we buy a totally brand new 2 room BTO flat for the elderly for $100k, pay in full cash. We invest $1m in high dividend yield stocks giving us 5% dividend yield, $50k pa. Our 3 children will give us allowance of $2k pm in total or $24k pa. Total passive income $74k pa. When we reach 65, we will get $3.6k pm or $43.2k pa from CPF Life. Total passive income at 65 will be $117.2k pa. Our expected spending during retirement will average $50k pa as we no longer need to own a car. We will save and reinvest the balance or spend on round the world holidays. Living in a 2 room flat has many advantages such as utility rebates. We may even get free food if some welfare organisations come to all the 2 room flats to give out food for the elderly as they usually think those staying in 2 room flats are poor. In fact there are many people who live in HDB flats are rich and they own multiple private properties.

Originally Posted by Unregistered

Is your job secure? Having a stable job and steady salary increment are key ingredients to building up sufficient retirement fund.

If you and spouse require $60k pa ($5k pm) in your retirement, the amounts over the years that you will need are :

10 yrs - $600k
20 yrs - $1.2m
30 yrs - $1.8m

With 3% ave inflation factored in, the amounts required become:

10 yrs - $687k
20 yrs - $ 1.6m
30 yrs - $2.2m

And this amount should not include your primary residence otherwise you will have to downgrade. Many people were caught unprepared without planning well ahead. When they retired they found that their savings were unable to last the distance and they had to reluctantly downgrade. For some, they had to downgrade a few times - from condo to 4 rm HDB, and then again to 2 rm flat.

My advice is to cut back your expenses where you can and plan to work as long as you can. $1.6m in networth which included the value of your home doesn't leave much room for error. Some more you already in your late 40s.

Respect. Your plan is very humble, down to earth. There are egoistic people in this forum who want to retire in a condo with a maid, car, fine dining, etc. Keep on saying not enough, not enough. If want to retire in luxury, like that sure cannot retire even with $10m net worth!

Originally Posted by Unregistered

We have worked out our retirement plan. We will retire at 58. First we will sell our condo and get $1.2m. Then we buy a totally brand new 2 room BTO flat for the elderly for $100k, pay in full cash. We invest $1m in high dividend yield stocks giving us 5% dividend yield, $50k pa. Our 3 children will give us allowance of $2k pm in total or $24k pa. Total passive income $74k pa. When we reach 65, we will get $3.6k pm or $43.2k pa from CPF Life. Total passive income at 65 will be $117.2k pa. Our expected spending during retirement will average $50k pa as we no longer need to own a car. We will save and reinvest the balance or spend on round the world holidays. Living in a 2 room flat has many advantages such as utility rebates. We may even get free food if some welfare organisations come to all the 2 room flats to give out food for the elderly as they usually think those staying in 2 room flats are poor. In fact there are many people who live in HDB flats are rich and they own multiple private properties.

Originally Posted by Unregistered

I think many people here are quiet after losing money in stocks. They listened to some "smart" guy asking them to buy when stocks are crashing.

The guy is far from smart. If you don't have any money in stocks, you would not have sleepless nights. Better to be safe. Keep your CPF safe by keeping them in your OA and SA. Those who think they can manage their money on their own by gambling in stocks are making a big mistake. They will end up losing their hard earned CPF money because they think they are so smart.

Many people lose 20% or more from their stocks. If they have a $1m portfolio, this means losing $200k! Cannot sleep at night.

Originally Posted by Unregistered

The guy is far from smart. If you don't have any money in stocks, you would not have sleepless nights. Better to be safe. Keep your CPF safe by keeping them in your OA and SA. Those who think they can manage their money on their own by gambling in stocks are making a big mistake. They will end up losing their hard earned CPF money because they think they are so smart.

Many people lose 20% or more from their stocks. If they have a $1m portfolio, this means losing $200k! Cannot sleep at night.

There's someone here with net worth of $5m. If he lose 20% of his net worth, he would lose a cool $1m. If lose another 20%, he will lose another $800k.

Hi,
I happen to chance upon this forum and had been reading with great interest for the past 1 hour on how many of you seem to able to plan for retirement with such ease. Can give some suggestion on how I can plan successfully?

35 year old, 100k pa
Spouse 37 year old, 120k pa
2 kids, 4 year old and 7 year old, with a stay in maid.
Staying in fully paid hdb, current value should be about 600k, near upcoming mrt
Driving fully paid up vios, coe due in 2 year's time. Intend to get another entry level jap car by then.
Owns a fully paid up condo in JB nusajaya area, plan to stay for retirement
Cash + bonds + stocks (minimal) about 300k

Current household expenses about 6.5k (about 1/3 spent on children's educational expenses)
Holidays twice a year, on average about 8-10k pa

Waiting for chance to save up enough cash and affordable value to buy a bigger 4 bedroom condo unit so that my mum can stay with me, while keeping my hdb unit.

I read that many of you are able to earn passive income that can pay for household expenses.
That is my ideal situation. How can I achieve that with my aspirations?

Since you save $142k pa, wait for 10 years to save $1.42m then use that to buy your dream condo.

Originally Posted by Unregistered

Hi,
I happen to chance upon this forum and had been reading with great interest for the past 1 hour on how many of you seem to able to plan for retirement with such ease. Can give some suggestion on how I can plan successfully?

35 year old, 100k pa
Spouse 37 year old, 120k pa
2 kids, 4 year old and 7 year old, with a stay in maid.
Staying in fully paid hdb, current value should be about 600k, near upcoming mrt
Driving fully paid up vios, coe due in 2 year's time. Intend to get another entry level jap car by then.
Owns a fully paid up condo in JB nusajaya area, plan to stay for retirement
Cash + bonds + stocks (minimal) about 300k

Current household expenses about 6.5k (about 1/3 spent on children's educational expenses)
Holidays twice a year, on average about 8-10k pa

Waiting for chance to save up enough cash and affordable value to buy a bigger 4 bedroom condo unit so that my mum can stay with me, while keeping my hdb unit.

I read that many of you are able to earn passive income that can pay for household expenses.
That is my ideal situation. How can I achieve that with my aspirations?