How much savings do you have?

Originally Posted by Sion3011

Enough is enough. I think if a person life have accumulate passive income. Then the person shall concentrate on God totally. Life is not just about seeking money and compare whose accumulate most wealth. But to understand why we are here; I recently study NDE (near death experience) and found out that after we die, the journey still move on. U may look for scientifc research. Evidence of the Afterlife. The Science of Near-Death Experiences or youtube it.

don't bring religion into this forum. it is disrespectful to those of other faiths.

Originally Posted by Unregistered

Savings is very impt in order to have the first pot of gold, for investing. And one should start to save early. Just 10 years ago, if you had saved $50K cash and $50K in CPF, you would be able to afford a 20% downpayment and buy a 1200 sqf suburban condo for $0.5m. This condo will be worth $1m now and you would have made at least $300-400K (after deducting for interest, stamp duty, other misc costs) from your $50K cash and $50K CPF. Few years ago, many shares including blue chips are selling below their NRV but many are too fearful to buy. Those who bought the shares then would have made at least a few folds by now.

I believe some of the stories and claims are true although I also find it rather increduous that there are so many millionaires contributing their success stories in this forum.

Just three years ago, with an average 150K/annum combined salary (spouse and I) and without borrowing from relatives, we managed to get a 2rm suburban condo for << 1M.

Recently we bought a second property (not residential) which is tenanted. Its achievable for an average graduate couple. Of course, there are sacrifices: no car, no expensive hobbies. And of course, there is risk involved, property can come down, it does not always go up. No risk, no gain, what shld be done is to take a calculated and considered risk.

The totally risk adverse, would have bought one HDB and stayed put, never buying private property, putting savings in the bank. But where would that lead to? Zero risk, but hardly any gain.

Originally Posted by Unregistered

Just three years ago, with an average 150K/annum combined salary (spouse and I) and without borrowing from relatives, we managed to get a 2rm suburban condo for << 1M.

Recently we bought a second property (not residential) which is tenanted. Its achievable for an average graduate couple. Of course, there are sacrifices: no car, no expensive hobbies. And of course, there is risk involved, property can come down, it does not always go up. No risk, no gain, what shld be done is to take a calculated and considered risk.

The totally risk adverse, would have bought one HDB and stayed put, never buying private property, putting savings in the bank. But where would that lead to? Zero risk, but hardly any gain.

How much is your outstanding loan for the 2 properties?

Property investment is indeed risky, especially now when prices are at record high (Tharman said we're at the unhappy part of the property cycle). Many graduate couples were burnt in 1997-98 when their property investments turned bad.

Good luck!

36 year old professional, married with 2 kids

450K cash
450K reits
2.4M landed property (monthly loan of 2.5K is being repaid by reits dividends)

Originally Posted by Unregistered

How much is your outstanding loan for the 2 properties?

Property investment is indeed risky, especially now when prices are at record high (Tharman said we're at the unhappy part of the property cycle). Many graduate couples were burnt in 1997-98 when their property investments turned bad.

Good luck!

Outstanding loan for two properties in total, is slightly less than 1M.

Percentage of combined income, to service the loan for the two properties (condo home + non residential property), is around 30%. But if factor in that the non-residential is tenanted, its much less than that.

Is this high? I don't think so.

Originally Posted by Unregistered

Initially I find it kind of demoralising to know that so many millionaires in this forum.
I was stuck at 2.5k salary as a diploma holder after working for 5yrs.

But i slowly realise many people are talking cock over here. LOLz

I believe many Singaporeans have their heads in the sand. They are either not aware or not accepting of the growing income gap. The problem is severe enough for eminent Prof Lim Chong Yah to come out & propose (but not accepted) a drastic salary model to increase low wage workers' salary & keep high income earners' pay fixed. The gahmen is acutely aware of this income divide but is it doing enough to narrow the gap?

You only have to see how with high COE prices and yet people are buying cars, only this time they are buying mainly luxury ones. Also after so many rounds of cooling measures, property sales do not seem to abate. There are (many) rich people around. You are obviously on the wrong side of the income divide.

Question is how to get onto the right side of the divide?

Originally Posted by Income divide

I believe many Singaporeans have their heads in the sand. They are either not aware or not accepting of the growing income gap. The problem is severe enough for eminent Prof Lim Chong Yah to come out & propose (but not accepted) a drastic salary model to increase low wage workers' salary & keep high income earners' pay fixed. The gahmen is acutely aware of this income divide but is it doing enough to narrow the gap?

You only have to see how with high COE prices and yet people are buying cars, only this time they are buying mainly luxury ones. Also after so many rounds of cooling measures, property sales do not seem to abate. There are (many) rich people around. You are obviously on the wrong side of the income divide.

Question is how to get onto the right side of the divide?

For all Singaporeans who are unhappy with their pay, and the widening income gap, this is what the government has to say :

SM Goh acknowledged the situation has resulted in many unhappy Singaporeans, and he sought to put things in perspective.

"Those who missed out, those who can't buy this, who can't upgrade and so on, so we are really feeling the unhappiness, question is was the policy good?

"Unhappiness, those who are happier, in total there's net happiness, there's no such thing called total happiness, don't believe in it. It's whether we create net happiness in all this," said SM Goh.

He added it is "very difficult to satisfy everybody" and in politics, trying to make everybody happy is "impossible".

They key, said SM Goh is to "make the most number of people happy, the most number of times".

Age 39 w spouse
$500k cpf/srs
$700k cash/shares/ut
$600k equity value of property

[jason78]

Many people have assets which is not only a hedge against inflation but provides passive income and capital appreciation and with cost of borrowing so low those who buy assets such as property are paying close to no interests.








www.propertylaunch.org

Together with wife

9m landed prop (4m mtge outstanding)
6m condo (3m mtge outstanding)
2.5m apartment (300k mtge outstanding)


My own

800k stocks
900k cash and bonds