How much are you earning per annum?

Its that time of year again where the year is coming to an end and a new year is around the corner. A time where we reflect on what we have achieved and where we have failed.

Looking at the date when this forum was started (23 Feb 2010), we are reminded how time flies. It has been almost 6 years already. Have our lives and our finances changed for the better in this six years?

For me, 6 years ago, I was still in my 40s and career advancement was still important to me. But today, I no longer crave for more responsibilities in my job. I would be happy to continue in my current job scope into my retirement. On the home front, the 6 years have seen my children grown up. One graduated with honours and joined the workforce and the younger one still in the uni. We have also bought a new car to replace our old car which reached 10 years old in 2014.

On the financial front, the 6 years have seen our networth increased by another $2m. We have also purchased another property for rental income. Our passive income crossed the $100k mark for 2015.

On the work front, I have seen many colleagues leaving the company. Some left for "greener" pastures, while others retired. I have to continuously build new friendship and teams with the newer colleagues to make the work place conducive and effective. I also kept in touch with former colleagues to reminisce and maintain friendship. Talking to my retired colleagues also reminded me that my own retirement is not too far away. So have to spend some time to prepare (both financially and socially) for eventual retirement.

All in, the last 6 years have been good on all fronts. I hope it is the same for you all.

Merry Christmas and Happy 2016 to all!

CAT B COE price crashed down by 5k. Newspaper reported it is due to higher interest rate - "
Another factor is the higher cost of a car loan. Last week, two big players, Hong Leong Finance and DBS, officially raised interest rates to 2.78 per cent for the maximum five-year tenure."

US FED going to hike further for 4 times in 2016. COE price can just go south from here and hit $30k by end of 2016.

All highly leveraged car buyers will get wacked big time

Yes! Yes!
$30k COE is coming soon!
Huat ah!!

With the COE demand weakening. Does anyone know why the government is not keeping some COE quota to release in the lean years? Instead of this feast and famine cycle?

Thanks for sharing and congratulations on your achievements!

I've also had a great 2015. I'm happily retired and spending a lot of my time helping out in charities. I'm a much more happier person since my retirement. Life is so much more meaningful. During my charity work, I'm often reminded of my many blessings. Today, I'm blessed with a net worth that increased by multiple folds over the last six years. Six years ago I was in my early forties and now I've achieved financial freedom and living in a new condo.

Wishing everyone a great 2016! :-)

Originally Posted by Unregistered

Its that time of year again where the year is coming to an end and a new year is around the corner. A time where we reflect on what we have achieved and where we have failed.

Looking at the date when this forum was started (23 Feb 2010), we are reminded how time flies. It has been almost 6 years already. Have our lives and our finances changed for the better in this six years?

For me, 6 years ago, I was still in my 40s and career advancement was still important to me. But today, I no longer crave for more responsibilities in my job. I would be happy to continue in my current job scope into my retirement. On the home front, the 6 years have seen my children grown up. One graduated with honours and joined the workforce and the younger one still in the uni. We have also bought a new car to replace our old car which reached 10 years old in 2014.

On the financial front, the 6 years have seen our networth increased by another $2m. We have also purchased another property for rental income. Our passive income crossed the $100k mark for 2015.

On the work front, I have seen many colleagues leaving the company. Some left for "greener" pastures, while others retired. I have to continuously build new friendship and teams with the newer colleagues to make the work place conducive and effective. I also kept in touch with former colleagues to reminisce and maintain friendship. Talking to my retired colleagues also reminded me that my own retirement is not too far away. So have to spend some time to prepare (both financially and socially) for eventual retirement.

All in, the last 6 years have been good on all fronts. I hope it is the same for you all.

Merry Christmas and Happy 2016 to all!

Originally Posted by Unregistered

CAT B COE price crashed down by 5k. Newspaper reported it is due to higher interest rate - "
Another factor is the higher cost of a car loan. Last week, two big players, Hong Leong Finance and DBS, officially raised interest rates to 2.78 per cent for the maximum five-year tenure."

US FED going to hike further for 4 times in 2016. COE price can just go south from here and hit $30k by end of 2016.

All highly leveraged car buyers will get wacked big time

Check the history, interest rate of a car loan was once hovering around 6% during the 90s.

Oil prices have gone down a lot. It is also now more affordable to own a car than before. Makes more economical sense now to own a car than take a taxi. A car allows you to travel easily and you will reach your destination faster. Since COE prices have gone down, cars are now getting cheaper. So, the cost of owning a new car is lower and the cost of using a car is also lower. So it is the right time to buy a new car. Should we hope for COE to go down to $40k? $30k? $10k? Your guess is as good as mine. Just buy when you can afford it. More new cars are now selling at less than $100k or $10k pa. Can you afford to set aside $10k pa to own a car? If you can, then you can buy. If it's a struggle, then forget about it. If your household income is $150k pa, then buying a new car costing less than $100k should be affordable. Don't buy cars costing more than $100k.

Hope COE hits the bottom too HUAT AH!

Looks liks COE will tank to $30k very soon

And who say I am the idiot who predicted $30k mark would come true:?? That short sighted person is the biggest idiot!!

Originally Posted by Unregistered

Looks liks COE will tank to $30k very soon

And who say I am the idiot who predicted $30k mark would come true:?? That short sighted person is the biggest idiot!!

Lucky I listen to you and still waiting.

You are the man! You are the guru!

Huat ah!