How much are you earning per annum?

You forgot that he sold his HDB flat and bought the condo. He would have used the sales proceeds from the flat as downpayment for the condo. He would have bought his BTO flat from HDB cheap many years ago and could have paid off the HDB loan. So if he sold his flat say for $400k and bought the condo for $600k, his condo loan would only be $200k.
A $200k mortgage at 2.5% rate, 25 yrs means he pays only $900 pm, which he can share with his spouse ($450 pm each using their CPF). So, it could be a true case.

Originally Posted by Unregistered

Another high probability fake post spotted. Let me explain why....

The Maths does not add up....

Total income of 150k pa in 2015/16 at 45 years old.... Assuming this fellow and possibly imaginary spouse bought at the LOWEST in 2003, they would have been 32 yo. Assuming a 4% yearly compound increment and working backwards for 13 years, the annual income of The HH in 2003 would be $70k. A 99 LH condo would have cost around $500 psf then. If get a 1200sf (there were no shoe boxes BEFORE 2009), the condo would have cost $600k. A loan of 80% would mean approx $500k. Mortgage financing (20 year loan @ 2.5%) would have meant a mortgage payment of about $3k per month or $36k per month.

$70k minus cpf contributions ($14k) minus children (He said children therefore more than 1) expenses minus HH expenses can afford yearly $36k in mortgage payments? Unlikely unless parents help out or he got a Nigerian windfall.... Lol ..... BUT he already said parents are poor....

Originally Posted by Unregistered

You forgot that he sold his HDB flat and bought the condo. He would have used the sales proceeds from the flat as downpayment for the condo. He would have bought his BTO flat from HDB cheap many years ago and could have paid off the HDB loan. So if he sold his flat say for $400k and bought the condo for $600k, his condo loan would only be $200k.
A $200k mortgage at 2.5% rate, 25 yrs means he pays only $900 pm, which he can share with his spouse ($450 pm each using their CPF). So, it could be a true case.

I am the poster for #10338 post.

Assuming that he did have an HDB flat prior to buying a condo in 2003, it would mean that he has to have bought it in 1997/98 to fulfil the MOP.

You can check the historical records. BTO did NOT exist in 1997/98. 1997/98 was the era of Mah Bow Tan. It was the time when HDB new flats were priced very high and if one have sold at the 2003 through, one would have LOST money on renovation and interest rates.

Also our fake poster would have been aged 26 y.o. Not likely to have been married or bought HDB as median age of marriage was about 28/29 for males then...

I am the poster of #10342 and #10338.

An acid test of truth is to look at stats. Go Google Residential property price chart. Look at the chart for period of time from 97/98 to 2003.Go use a financial calculator to calculate backwards what a current 150k HH income looks like in 2003 with 4% compound. If you sure a higher percentage, the HH income is even lower in 2003....

The problem with the lack of critical thinking is that even if one chooses to csb, one cannot put together a coherent csb. In other words, lie also don't know how to lie.... I see a lot of this incompetence in numeracy in my work place...

Your posts is FULL OF NONSENSE.

Originally Posted by Unregistered

I am the poster of #10342 and #10338.

An acid test of truth is to look at stats. Go Google Residential property price chart. Look at the chart for period of time from 97/98 to 2003.Go use a financial calculator to calculate backwards what a current 150k HH income looks like in 2003 with 4% compound. If you sure a higher percentage, the HH income is even lower in 2003....

The problem with the lack of critical thinking is that even if one chooses to csb, one cannot put together a coherent csb. In other words, lie also don't know how to lie.... I see a lot of this incompetence in numeracy in my work place...

No point getting worked up with the loser. I believe he is behind all the childish posts about being in the upper middle class with just $150k pa, retiring early bulls***, etc..

He has no sense whatsoever of what the expenses are like staying in a condo, bringing up a family, owning a car etc...

He is likely to be a teenage school dropout, waiting to enlist. Putting up a credible post is beyond his immature and unexposed mind.

Originally Posted by Unregistered

I am the poster of #10342 and #10338.

An acid test of truth is to look at stats. Go Google Residential property price chart. Look at the chart for period of time from 97/98 to 2003.Go use a financial calculator to calculate backwards what a current 150k HH income looks like in 2003 with 4% compound. If you sure a higher percentage, the HH income is even lower in 2003....

The problem with the lack of critical thinking is that even if one chooses to csb, one cannot put together a coherent csb. In other words, lie also don't know how to lie.... I see a lot of this incompetence in numeracy in my work place...

You are FULL of NONSENSE!

Originally Posted by Unregistered

No point getting worked up with the loser. I believe he is behind all the childish posts about being in the upper middle class with just $150k pa, retiring early bulls***, etc..

He has no sense whatsoever of what the expenses are like staying in a condo, bringing up a family, owning a car etc...

He is likely to be a teenage school dropout, waiting to enlist. Putting up a credible post is beyond his immature and unexposed mind.

Today is a blessed day. It is raining. Rain is a blessing.

As I look out the window, I feel blessed as I can afford to enjoy the morning, lying on my bed. I recalled my earlier days as a high flying corporate executive. Those days were crazy days, rushing early in the morning, stuck in traffic, rushing from one meeting to another, flying from one city to another, rain or shine.

But it was worth it as the hard work enables me to earn a fortune. I had plenty of cash to invest. My many years of investments paid off extremely well. I'm now happily retired, my passive income from investments easily sustains my family. They are enjoying a good life too - living in a nice condo, going overseas holidays, driven around in a car, enjoying good food at restaurants, etc.

As a multi millionaire, I'm still busy, busy managing and growing my wealth, busy pursuing the many interests I had no time for previously, busy taking good care of my family, busy spending time with my very old parents and busy volunteering at charities and non profit organisations. Life is more meaningful and fulfilling. I'm healthier and happier.

In life, you have to make tough choices. Choose the wrong career and you can be working all your life. There are people who did not enjoy a single day of retirement. They died before they retired. That's sad.

Choose the right high paying career, work hard, be the best in your field, invest well and become a multi millionaire. You can then afford to retire early and enjoy a full life.

Originally Posted by Unregistered

Today is a blessed day. It is raining. Rain is a blessing.

As I look out the window, I feel blessed as I can afford to enjoy the morning, lying on my bed. I recalled my earlier days as a high flying corporate executive. Those days were crazy days, rushing early in the morning, stuck in traffic, rushing from one meeting to another, flying from one city to another, rain or shine.

But it was worth it as the hard work enables me to earn a fortune. I had plenty of cash to invest. My many years of investments paid off extremely well. I'm now happily retired, my passive income from investments easily sustains my family. They are enjoying a good life too - living in a nice condo, going overseas holidays, driven around in a car, enjoying good food at restaurants, etc.

As a multi millionaire, I'm still busy, busy managing and growing my wealth, busy pursuing the many interests I had no time for previously, busy taking good care of my family, busy spending time with my very old parents and busy volunteering at charities and non profit organisations. Life is more meaningful and fulfilling. I'm healthier and happier.

In life, you have to make tough choices. Choose the wrong career and you can be working all your life. There are people who did not enjoy a single day of retirement. They died before they retired. That's sad.

Choose the right high paying career, work hard, be the best in your field, invest well and become a multi millionaire. You can then afford to retire early and enjoy a full life.

Time for your meds.

Originally Posted by Unregistered

Time for your meds.

LOL ! damn funny

Originally Posted by Unregistered

Today is a blessed day. It is raining. Rain is a blessing.

As I look out the window, I feel blessed as I can afford to enjoy the morning, lying on my bed. I recalled my earlier days as a high flying corporate executive. Those days were crazy days, rushing early in the morning, stuck in traffic, rushing from one meeting to another, flying from one city to another, rain or shine.

But it was worth it as the hard work enables me to earn a fortune. I had plenty of cash to invest. My many years of investments paid off extremely well. I'm now happily retired, my passive income from investments easily sustains my family. They are enjoying a good life too - living in a nice condo, going overseas holidays, driven around in a car, enjoying good food at restaurants, etc.

As a multi millionaire, I'm still busy, busy managing and growing my wealth, busy pursuing the many interests I had no time for previously, busy taking good care of my family, busy spending time with my very old parents and busy volunteering at charities and non profit organisations. Life is more meaningful and fulfilling. I'm healthier and happier.

In life, you have to make tough choices. Choose the wrong career and you can be working all your life. There are people who did not enjoy a single day of retirement. They died before they retired. That's sad.

Choose the right high paying career, work hard, be the best in your field, invest well and become a multi millionaire. You can then afford to retire early and enjoy a full life.

I did not know that patients in IMH are allowed to access the internet. Isn't it for staff use only?