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How much savings do you have?

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  #781 (permalink)  
Old 16-09-2014, 06:27 PM
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If you can resolve your kids schooling issue, then you can afford to retire. But i would not recommend home schooling as they will grow up with limited social skills.

There are people who have paid up their HDB flat mortgage and rent their flat for $3k pm and they are also able to generate other sources of passive income from dividends and get in total $5k pm and they are retired or semi retired too in their JB home. But pity the kids who go to school by bus, they have to wake up at 4.30am and leave home at 5am and by the time they returm home, they are exhausted.

Not only a locum GP can retire in JB, even a normal worker can retire if they have paid their HDB mortgage and can rent out at $3k pm.
Thought u said only high powered bankers can retire in their late thirties, so now normal workers also can?? Can u be more consistent?

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  #782 (permalink)  
Old 16-09-2014, 06:35 PM
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Anyway, I doubt normal workers can retire in their late thirties , it is not easy to have a paid up hdb and a paid up jb house which now must cost min 1 mil ringgit and generate 2k passive icome...maybe in their 60s or 70s, they can...

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  #783 (permalink)  
Old 16-09-2014, 06:43 PM
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Thought u said only high powered bankers can retire in their late thirties, so now normal workers also can?? Can u be more consistent?
High powered bankers and executives can retire in their late 30s and 40s in SINGAPORE and they can still live in a luxury condo in SINGAPORE.

Normal workers can retire early only if they retire in Malaysia or Thailand. They could never retire early in SINGAPORE.

Surprised you ask this question.

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  #784 (permalink)  
Old 16-09-2014, 06:51 PM
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High powered bankers and executives can retire in their late 30s and 40s in SINGAPORE and they can still live in a luxury condo in SINGAPORE.

Normal workers can retire early only if they retire in Malaysia or Thailand. They could never retire early in SINGAPORE.

Surprised you ask this question.
Do not think normal workers can retire in their late 30s in Malaysia....do not know of any....they only live in JB and commute to work in Sg, they cannot afford to retire with their low pay, only as I said perhaps in their 60s they can...
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  #785 (permalink)  
Old 16-09-2014, 06:52 PM
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Anyway, I doubt normal workers can retire in their late thirties , it is not easy to have a paid up hdb and a paid up jb house which now must cost min 1 mil ringgit and generate 2k passive icome...maybe in their 60s or 70s, they can...
Sure they can. If they got married and bought a BTO flat, it only cost them $200k, very cheap since it is a BTO flat. Their income will grow over the years and they would be able to pay down their mortgage fast. If they are prudent and don't spend money wastefully on cars, luxury good and expensive holidays, they could save a lot and invest in dividend stocks. So, by the time they reach their late 30s, they have a paid up flat which they can rent out and they could have a stocks portfolio of $600k, which gives them 4% dividend yield (S$24k pa or S$2k pm). So, if they rent out their flat at S$3k pm and get dividends of S$2k pm, they would get in total S$5k pm.

They don't need to own a JB house, just look at propertyguru, you can rent a house or condo in JB for RM2k pm (S$800 pm) or even less.
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  #786 (permalink)  
Old 16-09-2014, 07:01 PM
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Sure they can. If they got married and bought a BTO flat, it only cost them $200k, very cheap since it is a BTO flat. Their income will grow over the years and they would be able to pay down their mortgage fast. If they are prudent and don't spend money wastefully on cars, luxury good and expensive holidays, they could save a lot and invest in dividend stocks. So, by the time they reach their late 30s, they have a paid up flat which they can rent out and they could have a stocks portfolio of $600k, which gives them 4% dividend yield (S$24k pa or S$2k pm). So, if they rent out their flat at S$3k pm and get dividends of S$2k pm, they would get in total S$5k pm.

They don't need to own a JB house, just look at propertyguru, you can rent a house or condo in JB for RM2k pm (S$800 pm) or even less.
Oh, u r talking about renting a place in one's retirement years....then maybe it is possible but not if they own one....it is quite pitiful to live at the mercy of your landlord when old though....prefer to own my own place....

And with no cars and no holidays, their quality of life is quite poor...
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  #787 (permalink)  
Old 16-09-2014, 07:53 PM
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Oh, u r talking about renting a place in one's retirement years....then maybe it is possible but not if they own one....it is quite pitiful to live at the mercy of your landlord when old though....prefer to own my own place....

And with no cars and no holidays, their quality of life is quite poor...
Actually it is better to rent than own a JB house or condo unit. There are now many brand new ones ready for occupation. There is a glut of both landed and condos in JB, you have a lot of choices. After a few years, when the place gets older, you can always move and rent the next brand new unit.

They will have no problem owning a car or even two cars there as cars are cheap and they can always go holidays since they can save from the lower cost of living there.

Over the next few years, there will be a glut of condos and houses in JB, many will be empty.
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  #788 (permalink)  
Old 16-09-2014, 08:04 PM
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Actually it is better to rent than own a JB house or condo unit. There are now many brand new ones ready for occupation. There is a glut of both landed and condos in JB, you have a lot of choices. After a few years, when the place gets older, you can always move and rent the next brand new unit.

They will have no problem owning a car or even two cars there as cars are cheap and they can always go holidays since they can save from the lower cost of living there.

Over the next few years, there will be a glut of condos and houses in JB, many will be empty.
It is no fun moving house every 1 to 2 years when you are old and to be at the mercy of the landlord....

And I meant no cars and holidays to scrimp and save while in Sg is also no fun....
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  #789 (permalink)  
Old 16-09-2014, 08:17 PM
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It is no fun moving house every 1 to 2 years when you are old and to be at the mercy of the landlord....

And I meant no cars and holidays to scrimp and save while in Sg is also no fun....
You don't have to move every one or two years, you can always stay for 5 years and go to the next brand new condo or house after that. You are not at the mercy of landlord, with the huge glut, landlords are begging you to stay. LOL.
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  #790 (permalink)  
Old 16-09-2014, 08:32 PM
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You don't have to move every one or two years, you can always stay for 5 years and go to the next brand new condo or house after that. You are not at the mercy of landlord, with the huge glut, landlords are begging you to stay. LOL.
I still think it is pitiable to be renting when old and moving every few years....how to move when you r in your 60s and 70s? You will need a lot of help...
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