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How much savings do you have?

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  #1281 (permalink)  
Old 08-10-2019, 10:20 PM
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What are you working as?
Iím a Fch lawyer.

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  #1282 (permalink)  
Old 10-10-2019, 03:31 PM
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Default Looking for advise

45 y/o, 55k gross per annum
Property equity - a condo ~500k (mortgage outstanding ~650k) installment monthly ~$2.4k (cpf+cash) already own stay 8yrs (will keep staying and service mortgage if capable)
Two kids 12 & 10 yrs
CPF- OA ~5k, SA -70k & MS ~50k
Cash- ~20k
Career- associate technician in o&g
Spouse- 42 y/o no working (~60k cash+cpf)
Household expenses- tight budget
Other debt- nil
Target retirement age - no plan
Target saving plan - no plan
Insurance plan - only family hospitalization plan
Passive income- nil
Bto eligibility - first timer
What will you do to prioritize in accordingly? Had plan to downgrade to a HDB if unable to service condo mortgage or without income to pay monthly mortgage.

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  #1283 (permalink)  
Old 11-10-2019, 04:22 PM
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Originally Posted by Unregistered View Post
45 y/o, 55k gross per annum
Property equity - a condo ~500k (mortgage outstanding ~650k) installment monthly ~$2.4k (cpf+cash) already own stay 8yrs (will keep staying and service mortgage if capable)
Two kids 12 & 10 yrs
CPF- OA ~5k, SA -70k & MS ~50k
Cash- ~20k
Career- associate technician in o&g
Spouse- 42 y/o no working (~60k cash+cpf)
Household expenses- tight budget
Other debt- nil
Target retirement age - no plan
Target saving plan - no plan
Insurance plan - only family hospitalization plan
Passive income- nil
Bto eligibility - first timer
What will you do to prioritize in accordingly? Had plan to downgrade to a HDB if unable to service condo mortgage or without income to pay monthly mortgage.
By "first timer", do you mean that you have never owned a HDB previously? If so, when you downgrade, you may need to wait 2.5 years before you can BTO.

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