Why not you sell your condo and downgrade to a 4 room HDB flat costing $400k?
Assuming you then have cash of about $3.6m, you can buy a high dividend yield stock portfolio giving you 5% dividend yield pa or $180k pa.
You can then retire while your wife continues to work. Your wife earns $150k pa from work while you earn $180k pa from passive income. Your combined income will then be about $330k. Should be enough for a family of 4 living in a 4 room HDB flat. You can also enjoy various rebates.

Exactly my point. Here in this forum you keep hearing people say they are worth millions and millions including the houses they own.

Show that you really have that much wealth by liquidating it to cash of equivalent value, if not all these are just empty talk and wishful thinking at your own end.

You funnyman. Every point no matter how remote also become your point.

Why you jumped to conclusion that his property formed the bulk of his net worth? He could be staying in a HDB flat.

Dont be so clouded by your own views.

44, unemployed
Passive income $40k pa
Net worth $1.5 mil

Exactly ... all million dollar quote here are just paper money and most of it are debt, not net worth. Liquidating a fixed asset to liquid cash is not an easy task, the successful rate are also very low. Now see new BTO prices are cheaper than old resale HDB, who are so stupid want to buy the resale HDB. Most also didn't calculate operating cost, renovation, furniture, charges, which can be high to sum up. So actually their fixed asset here is just a sinking hole to throw more of their cash in.

Then how about condo. You see now condo price is at least $1.5m. With this amount of price you need at least $5k-$10k/pm to serve your mortgage, however the monthly rental you get is only $3k-6k. How you get the profit anyway. Infact, you pay for your tenant to enjoy your condo. So in other word, you worked hard to pay off and other peoples enjoy it. So what's the point anyway having million dollar asset but you didn't enjoy it. It's pitiful anyway.

Sorry to know about your poverty.
Don't give up hope. Take care.

I am 55, happily retired. My wife is 45, still working and earning S$100k pa.
I own 3 condos. My small family stays in one of the condos, while I rent out my two other condos (generates a net rental of S$60k pa).
We are comfortable with our S$160k pa total income.
When my wife retires at 55, we plan to retire in Penang and KL, Malaysia.
By then, our passive income will be about S$80k pa as our rental increases over the 10 yrs.
Our Singapore dollar will likely strengthen to S$1 = RM 3 by 2023.
We will live like a rich couple in Malaysia.
Our condos in Singapore will fund our retirement in Malaysia.

May I know if your passive income is generated from property or stocks?

The gahmen said every year got 15,000 new families formed, and they building 25,000 new flats to meet the demand for now. In steady state, the gahmen would probably build less than 15,000 flats per year. This could be because HDB people selling their flats to upgrade to private property so freeing up their flats for the new families.

The gahmen worry private sector may lead to glut. Since they know already, they can start to slow down land sales. But I think they also dont want the money to flow out to Iskandar and other places.

Question is will S'pore follow Japan or HK? Japan property during its peak, the loan can stretch for two generations. Now depressed property prices still not moving up. In HK, prices are already higher than S'pore and yet still going up. Same thing happening in China even after many control measures.

Also, other places got earthquakes, flooding and riots and what not, S'pore (touch wood) peaceful so far.

How? To invest or not?

Dear all,

I need your kind advice.

I was let go one year ago after 20 years with the company. I think I cost too much. Got retrenchment benefits which is almost finished. I gave myself one year to get a new job but unfortunately there is no available jobs that pays $200k pa any more. My age could be a hindrance. I have given up hope to get back to my previous role.

My assets today are worth $2.5 mil, the bulk of it in my condo (no loan, paid up). What should I do? Should I downgrade to a small condo worth $1m and buy another condo worth $1.5m to give me passive rental income? Or should I just get a $500k HDB flat and invest $2m in the stock market?

Appreciate any comments and advice.
Thanks.