How much savings do you have?

[lazyplane]

Originally Posted by Unregistered

Here's what he can do:

1. Sell his 5 room HDB flat at $600k and downgrade to a $300k 3 room flat, fully paid.
2. Use the $300k profit to buy a low risk government related bond, giving 3% per annum. This earns him $9k per year or $750 per month.
3. He works as a security guard, earning $1500 per month.
4. Wife works as dish washer earning $2000 per month.
5. Total income $4250.
6. Sell car, take bus. Saves $1000 plus per month.

Dude...
Pt 1 cannot really do in Singapore.
Most singaporeans buy their HDB with CPF. Hence need to "top back" CPF. After topping back , most will find that there is hardly any real cash from sale to invest.

Pt 2 also no more 3% yield in govt bond for a very long time already...
Maybe some corporate -Temaseked linked companies bonds.. but not from govt

Singapore Government Bond 10Y

But sadly, i also dont have better ideas to suggest.

Landed properties in the West near the Jurng Lake District are rising in price to catch up with condo prices there. The Jurong Lake District will be the next Marina Bay.

Originally Posted by Unregistered

Landed properties in the West near the Jurng Lake District are rising in price to catch up with condo prices there. The Jurong Lake District will be the next Marina Bay.

Hey Sean, you are back! still haven't closed on your 99 year inter-terrace in JLD? ask the owner to lower price leh, 2 mil for 99 year landed is too ex lah.

age: 29
base salary: 7,500 (raise only in 2012 Q2)
savings: 25,000
stocks: 10,000

fiancee age: 27
base salary: 5,600
savings: 20,000

share a used 5 year old jap sedan
approx 25,950 installment left

flat: 490k queenstown hdb ready in 2015 (bto in dec 09 when salary 2.5k each)
holiday destinations: beach resort in thailand once a year

relatively poor compared to many here. simple lifestyle and save reasonably but can do better.

Originally Posted by Unregistered

age: 29
base salary: 7,500 (raise only in 2012 Q2)
savings: 25,000
stocks: 10,000

fiancee age: 27
base salary: 5,600
savings: 20,000

share a used 5 year old jap sedan
approx 25,950 installment left

flat: 490k queenstown hdb ready in 2015 (bto in dec 09 when salary 2.5k each)
holiday destinations: beach resort in thailand once a year

relatively poor compared to many here. simple lifestyle and save reasonably but can do better.

28 and 26 would be a lot more accurate

Originally Posted by Unregistered

age: 29
base salary: 7,500 (raise only in 2012 Q2)
savings: 25,000
stocks: 10,000

fiancee age: 27
base salary: 5,600
savings: 20,000

share a used 5 year old jap sedan
approx 25,950 installment left

flat: 490k queenstown hdb ready in 2015 (bto in dec 09 when salary 2.5k each)
holiday destinations: beach resort in thailand once a year

relatively poor compared to many here. simple lifestyle and save reasonably but can do better.

7500 base salary is in what industry. Both u and ur partner doing quite well. Banking industry?

age: 36+
annual base salary: $200K, bonus $30K

wife age: 34+
annual base salary: not working now (previously $90K)

house: 2-storey freehold terrace (cost $2.2M over 2 years back, current value $2.7M with $850K loan remaining)

cash in bank: $570K
stocks: $210K (annual dividend of $11K)
SRS and insurance cash value: $100K

car: bmw 5 series ($15K loan left)

doing relatively well compared to my peers with an engineering degree, but still a long away from getting out of the rat race

Originally Posted by Unregistered

age: 29
base salary: 7,500 (raise only in 2012 Q2)
savings: 25,000
stocks: 10,000

fiancee age: 27
base salary: 5,600
savings: 20,000

share a used 5 year old jap sedan
approx 25,950 installment left

flat: 490k queenstown hdb ready in 2015 (bto in dec 09 when salary 2.5k each)
holiday destinations: beach resort in thailand once a year

relatively poor compared to many here. simple lifestyle and save reasonably but can do better.

When you get married plus the flat renovations, all those savings will be flushed out. Then you will start from scratch again. Been there, done that. Be patient.

My position now is worse. I'm sole breadwinner, income less than your combined salary, and have a 4 yr old to feed, plus both sets of parents to support.
Wife dont save and has poor spending habits, so I squeeze every month to save a little.
It's hard work and future is unknown, but at least, with every dollar saved, the future is less bleak.

age: 32
base salary: 12,500
savings: 90,000
stocks: 510,000
unit trust: 130,000

3 year old Audi A6

flat: 620k Bishan hdb resale

Average compare to most of my peers, planning to retire before 40.

Originally Posted by Unregistered

When you get married plus the flat renovations, all those savings will be flushed out. Then you will start from scratch again. Been there, done that. Be patient.

My position now is worse. I'm sole breadwinner, income less than your combined salary, and have a 4 yr old to feed, plus both sets of parents to support.
Wife dont save and has poor spending habits, so I squeeze every month to save a little.
It's hard work and future is unknown, but at least, with every dollar saved, the future is less bleak.

sorry to hear about your situation. dont give up on saving.

i am anticipating wedding procedures and renovation to flush out my savings.
i feel the need to change my lifestyle and save much more. easier said than done.
my dream to be out of the rat race seems almost uncertain now. maybe just succumb to what life 'govt' throws at me, stop trying too hard and enjoy the moment.