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31-05-2016, 08:25 PM
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Quote:
Originally Posted by Unregistered
I agree with your assessment. What goes up must come down.
For me I am waiting for property market to crash and reset. Standing by with $1m in cash & CPF for the DP. Waiting patiently.
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Property market crash and reset means you lose your job and your income reset to ZERO. Hahahaha.
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31-05-2016, 08:28 PM
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Quote:
Originally Posted by Unregistered
Property market crash and reset means you lose your job and your income reset to ZERO. Hahahaha.
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i have a iron rice bowl job and i am confident i wont lose the job.
waiting to buy my next property at low price.
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31-05-2016, 08:49 PM
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Quote:
Originally Posted by Unregistered
i have a iron rice bowl job and i am confident i wont lose the job.
waiting to buy my next property at low price.
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don't be arrogant. anything is possible. you should be hoping that the world is in doing well so that everyone, including the poor, will benefit. don't be selfish.
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31-05-2016, 10:34 PM
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Quote:
Originally Posted by Unregistered
don't be arrogant. anything is possible. you should be hoping that the world is in doing well so that everyone, including the poor, will benefit. don't be selfish.
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Not meant to be arrogant. but i felt this is my turn to capitalize on a downturn. There are not many downturn in one's lifetime. So I am praying hard for a reset.
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01-06-2016, 08:58 AM
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Quote:
Originally Posted by Unregistered
Not meant to be arrogant. but i felt this is my turn to capitalize on a downturn. There are not many downturn in one's lifetime. So I am praying hard for a reset.
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The property market in some segments has already crashed. You can now buy Sentosa bungalows at a good discount. Very cheap. Only $8m.
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01-06-2016, 09:06 AM
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Wow! You're very rich. Do you want to buy a Sentosa bungalow? Only $8m. Super cheap. Since you have $5m, you can use the $5m as downpayment and borrow $3m. You can service the loan until you reach 80 years old.
Quote:
Originally Posted by Unregistered
Not so many years ago, having $1 million may have been enough for someone or household to be labeled wealthy. Not anymore.
According to a recent survey of investors by UBS Investor Watch, it now takes $5 million in investable assets (with about 20 percent of that in cash -- or highly liquid investments like FDs or money market funds -- for emergencies) for a person/household to feel wealthy and enjoy "no financial constraints."
But what does it take to actually get there?
Having both husband and wife working in professional fields helps. Spending well within your income is an important factor. Are you able to save more than 50% of your income? If your combined income is $350k pa, a 50% savings is $175k pa.
Healthy savings must be combined with consistent investment (stocks, property, unit trusts and bonds) throughout your working career.
Have a long working career without any breaks or fall in income at any time
That was pretty much what we did throughout our working life. We hit the $5m target at 53
So what kind of assets can $5m buy you?
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01-06-2016, 09:37 AM
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Quote:
Originally Posted by Unregistered
The property market in some segments has already crashed. You can now buy Sentosa bungalows at a good discount. Very cheap. Only $8m.
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I can only afford OCR condo. Targeting below $1.5-2.0 mil good size property
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01-06-2016, 09:39 AM
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Quote:
Originally Posted by Unregistered
I can only afford OCR condo. Targeting below $1.5-2.0 mil good size property
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The OCR market has also crashed. You can now get a 3 bedroom condo in the OCR for only $800k. You should buy now.
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01-06-2016, 09:42 AM
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Family with 2 children aged 10 and 11. I am 40 and my wife is 42.
Our expenses a month:
Car petrol, road tax, car insurance, parking etc - $1k
Groceries & Utilities - $1.2k
Dining - $1.3k
Insurance - $2k
Children Expenditure - $600
Misc - $1k
TOTAL Expenses - $7.1k
Salary: SGD20,000 per month (wife is stay-home mum)
Annual Bonus: SGD54,000 to SGD90,000 (varies)
Networth:
Private Apartment in District 10: Current market equity valued at SGD 3.3mill (fully paid up)
5 Room HDB at Holland Road: Current market equity valued at SGD 800k (around 10 years left for repayment, purely CPF). Renting out @ SGD2,600 per month
Cash & CPF: $800k
Audi A5: Fully paid up with 4 years left on COE
For those who are wondering, the private apartment was left to me as a inheritance. How is my family doing? I plan to retire at 60 and possibly migrate to Melbourne.
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01-06-2016, 01:01 PM
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You are lucky to get a big inheritance. You can actually retire now and live in Aus. Sell your condo at $3.3 mil and invest in 5% dividend yield portfolio. You get $165k pa in dividends. This is more than enough for a family of four living there.
Quote:
Originally Posted by Unregistered
Family with 2 children aged 10 and 11. I am 40 and my wife is 42.
Our expenses a month:
Car petrol, road tax, car insurance, parking etc - $1k
Groceries & Utilities - $1.2k
Dining - $1.3k
Insurance - $2k
Children Expenditure - $600
Misc - $1k
TOTAL Expenses - $7.1k
Salary: SGD20,000 per month (wife is stay-home mum)
Annual Bonus: SGD54,000 to SGD90,000 (varies)
Networth:
Private Apartment in District 10: Current market equity valued at SGD 3.3mill (fully paid up)
5 Room HDB at Holland Road: Current market equity valued at SGD 800k (around 10 years left for repayment, purely CPF). Renting out @ SGD2,600 per month
Cash & CPF: $800k
Audi A5: Fully paid up with 4 years left on COE
For those who are wondering, the private apartment was left to me as a inheritance. How is my family doing? I plan to retire at 60 and possibly migrate to Melbourne.
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