How much savings do you have?

Me 38, wife 36 in banking and legal line

Cash: $480K
Stocks and funds: $430K

Other assets: Cpf, terrace house, car

Everyone seems to be very rich in this forum. All earn big money and can save so much with fully paid up condo/cars...

Originally Posted by Unregistered

Everyone seems to be very rich in this forum. All earn big money and can save so much with fully paid up condo/cars...

It is only natural that those who succeed like to boast and brag about their success whether it is due to hard work or pure luck.

The typical 40 year old guy lives in a 4 room HDB BTO flat which he got cheap and still living in it. He earns an income of $4k pm, married and has two kids studying in a neighbourhood school. This is the middle class, neither poor nor rich. Live a contented life generally.

When he retires, he will rent out two of his rooms and get money from CPF Life. Rent $2000 pm (each room $1000), CPF Life $3000 pm ($1500 each for the retired couple), children $1000 pm ($500 from each kid). So passive income is $6000 pm.

As long as they don't have a maid, don't own a car, don't smoke, don't drink, don't party, don't gamble and the husband don't womanize, they should be able to retire well.

Originally Posted by XMK

Me 38, wife 36 in banking and legal line

Cash: $480K
Stocks and funds: $430K

Other assets: Cpf, terrace house, car

why stop there....also add on your G5 Jet....sure are alotta ppl out there with small D***s that need to compensate for them....

all these talk about when retiring, can rent out 2 rooms to get passive income is pure bulls**t. Imagine when you are 60-70+ years old, would you want to share your home with a bunch of strangers? of course not! you work so hard all your life and the least you want is just to rest in privacy in your own home and not have tons of strangers around in your retirement. who knows what dangers they may bring and also disrupt your peace... all these posters about renting out rooms for passive income in retirement are just talk only.. by the 16-17 years old posters...

Originally Posted by Unregistered

It is only natural that those who succeed like to boast and brag about their success whether it is due to hard work or pure luck.

The typical 40 year old guy lives in a 4 room HDB BTO flat which he got cheap and still living in it. He earns an income of $4k pm, married and has two kids studying in a neighbourhood school. This is the middle class, neither poor nor rich. Live a contented life generally.

When he retires, he will rent out two of his rooms and get money from CPF Life. Rent $2000 pm (each room $1000), CPF Life $3000 pm ($1500 each for the retired couple), children $1000 pm ($500 from each kid). So passive income is $6000 pm.

As long as they don't have a maid, don't own a car, don't smoke, don't drink, don't party, don't gamble and the husband don't womanize, they should be able to retire well.

seriously..your constant nagging is getting old...its 2015 come up with some new material lah....

I wouldn't be so quick to rubbish this, as this really is happening on the ground. That people are indeed renting out rooms to strangers, not just to foreigners (eg M'sians) but also to Singaporeans who either cannot/don't want to stay with their own families.

Already I have 2 M'sians colleagues who rented rooms in HDBs while the owners (not so elderly couples) still staying there. My colleagues are paying about $600 - $800 pm.

And thinking back, when I was an undergraduate at NUS, a couple of my classmates and I (Singaporeans all) rented rooms in flats near NUS - Dover, Ghim Moh and Clementine areas. I am very sure students are still doing this, ie renting rooms in flats around the areas.

Originally Posted by Unregistered

all these talk about when retiring, can rent out 2 rooms to get passive income is pure bulls**t. Imagine when you are 60-70+ years old, would you want to share your home with a bunch of strangers? of course not! you work so hard all your life and the least you want is just to rest in privacy in your own home and not have tons of strangers around in your retirement. who knows what dangers they may bring and also disrupt your peace... all these posters about renting out rooms for passive income in retirement are just talk only.. by the 16-17 years old posters...

Originally Posted by Unregistered

Everyone seems to be very rich in this forum. All earn big money and can save so much with fully paid up condo/cars...

take it with a pinch of salt, too many bs or dreamers here!

Originally Posted by Unregistered

I wouldn't be so quick to rubbish this, as this really is happening on the ground. That people are indeed renting out rooms to strangers, not just to foreigners (eg M'sians) but also to Singaporeans who either cannot/don't want to stay with their own families.

Already I have 2 M'sians colleagues who rented rooms in HDBs while the owners (not so elderly couples) still staying there. My colleagues are paying about $600 - $800 pm.

And thinking back, when I was an undergraduate at NUS, a couple of my classmates and I (Singaporeans all) rented rooms in flats near NUS - Dover, Ghim Moh and Clementine areas. I am very sure students are still doing this, ie renting rooms in flats around the areas.

read before replying. your colleagues obviously are still working, that person was referring to retirees!

Originally Posted by Unregistered

why stop there....also add on your G5 Jet....sure are alotta ppl out there with small D***s that need to compensate for them....

This forum is about assets and income. If you dont like what is written then dont read. By the way, having those assets is not uncommon for those in banking, law or medicine. In fact I have acquaintances and friends who are 40 and already own semi-ds or bungalows in D10.