How much savings do you have?

Originally Posted by Unregistered

Upper middle income family, $140k pa in total.
Flat, a renovated unit, worth $500k. Paid up.
Drives a 2L luxury continental car. Loan outstanding $60k.
We are blessed to be among the good income families in Singapore.
We are also millionaires as our total net worth (including our flat) is $1m.
We are both 48 & 50 years old.

To qualify as millionaire, your net worth can't include your primary residence. Therefore you are not one despite having good income. Sell your car then maybe got chance.

Lol, he was just joking lah.

Nowadays where got people boast about $1m? In high cost Singapore, $1m cannot last you very long.

Originally Posted by Unregistered

To qualify as millionaire, your net worth can't include your primary residence. Therefore you are not one despite having good income. Sell your car then maybe got chance.

Originally Posted by Unregistered

Lol, he was just joking lah.

Nowadays where got people boast about $1m? In high cost Singapore, $1m cannot last you very long.

You are right. $1m is really nothing in Singapore. I just got to know my HDB void deck corner shop old aunty own a condo. She told me she can buy two but decide to use the money to send her children study overseas instead.

But I reckon it's going to be hard for our post-90s generation to achieve anything close to the baby boomers. Now HDB already cost 1mil in prime areas!

I am 32 years old, female. In IT line.

Earning 126k per annum and 12k annual bonus.
Savings: 250k
Own a 4 bedroom flat solely, brought at 305k and left with 180k loan.
Married with one child

Looking to retire at 55. Currently saving 5-6k per month.

How am I doing?

Originally Posted by Unregistered

I am 32 years old, female. In IT line.

Earning 126k per annum and 12k annual bonus.
Savings: 250k
Own a 4 bedroom flat solely, brought at 305k and left with 180k loan.
Married with one child

Looking to retire at 55. Currently saving 5-6k per month.

How am I doing?

Still some way to go to achieve financial freedom. Seems like you don't have investment portfolio? And with 126k per annum, it is hardly considered a comfortable enough salary.

Originally Posted by Unregistered

Still some way to go to achieve financial freedom. Seems like you don't have investment portfolio? And with 126k per annum, it is hardly considered a comfortable enough salary.

Hi, I only have term plan and life insurance, some company stocks. I don't really have an investment portfolio. I am not sure what to invest as well! Hehe!

Originally Posted by Unregistered

Hi, I only have term plan and life insurance, some company stocks. I don't really have an investment portfolio. I am not sure what to invest as well! Hehe!

If you are just starting, you can try with some bonds, like SSB, CapitaMall bond and etc. See which one suits you the best. Personally, I will go with SSB, because there is no risk, flexible and also get okay returns with the average of 2.6% returns per year if you leave it for 10 years without taking out.

There are various way to build your investment portfolio, like stocks (blue chips for dividends), property (condo - for rental yield), fix deposit (get a decent amount within a few years) and etc. See which one is good for you. Slowly choose and choose wisely

[forest ang]

Hi all, I am a 43yo divorcee with a 12 yo kid.
I have a 3 room flat fully paid up generating $1700 monthly rental.
I have 2 bedder (current value $900K) outstanding loan $260k.
I have $150K in my CPF OA, $161k in my SA
I have $250k in bond (OUE) maturing in 5 years with a 3.8% yield giving me $9500 yearly
I have $59k in bond (Aspial) maturing in 5 years with 5.25% yield giving me $3000 yearly
I have $44k in bond (CMA) maturing in 7 years with 3.08% yield giving me $1672 yearly
I have $100k in stock holding (but current value $60k) giving "peanuts" dividends
I have $500k hard cash in savings
I am in a sales job..average income $90k PA

I ve no other debts
May I know if I can retire by age 45yo?

Originally Posted by forest ang

Hi all, I am a 43yo divorcee with a 12 yo kid.
I have a 3 room flat fully paid up generating $1700 monthly rental.
I have 2 bedder (current value $900K) outstanding loan $260k.
I have $150K in my CPF OA, $161k in my SA
I have $250k in bond (OUE) maturing in 5 years with a 3.8% yield giving me $9500 yearly
I have $59k in bond (Aspial) maturing in 5 years with 5.25% yield giving me $3000 yearly
I have $44k in bond (CMA) maturing in 7 years with 3.08% yield giving me $1672 yearly
I have $100k in stock holding (but current value $60k) giving "peanuts" dividends
I have $500k hard cash in savings
I am in a sales job..average income $90k PA

I ve no other debts
May I know if I can retire by age 45yo?

Aspial bonds were being hawked at Raffles Place. Since it is at 5.25% pa, I hope you did your due diligence.

Yes you can retire at 45 since you are a millionaire. You need to clear your condo loan by using your CPF and cash. Your passive income is $35k pa. Since only you and kid to feed, you can survive with the $2.9k pm expenses. Your cash savings also provide good buffer for any emergency spending and for your kid's education.

Originally Posted by forest ang

Hi all, I am a 43yo divorcee with a 12 yo kid.
I have a 3 room flat fully paid up generating $1700 monthly rental.
I have 2 bedder (current value $900K) outstanding loan $260k.
I have $150K in my CPF OA, $161k in my SA
I have $250k in bond (OUE) maturing in 5 years with a 3.8% yield giving me $9500 yearly
I have $59k in bond (Aspial) maturing in 5 years with 5.25% yield giving me $3000 yearly
I have $44k in bond (CMA) maturing in 7 years with 3.08% yield giving me $1672 yearly
I have $100k in stock holding (but current value $60k) giving "peanuts" dividends
I have $500k hard cash in savings
I am in a sales job..average income $90k PA

I ve no other debts
May I know if I can retire by age 45yo?