Salary.sg Forums

Salary.sg Forums (https://forums.salary.sg/)
-   Investments and Net Worth (https://forums.salary.sg/investments-net-worth/)
-   -   Whats your net worth (https://forums.salary.sg/investments-net-worth/817-whats-your-net-worth.html)

Tired 04-06-2013 05:00 PM

In the 40s, wife late 30s, 2 kids.
Combined income $300k+ pa.
Net worth, including stock, CPF, case, and home, around $4m.
2 cars, fully paid.
Working on generating passive income of around 8k a month, currently no where near that amount..

Unregistered 04-06-2013 05:17 PM

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.


Quote:

Originally Posted by Tired (Post 38084)
In the 40s, wife late 30s, 2 kids.
Combined income $300k+ pa.
Net worth, including stock, CPF, case, and home, around $4m.
2 cars, fully paid.
Working on generating passive income of around 8k a month, currently no where near that amount..


Wiseman1 04-06-2013 05:37 PM

Quote:

Originally Posted by Unregistered (Post 38087)
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.

Unregistered 04-06-2013 05:50 PM

Quote:

Originally Posted by Wiseman1 (Post 38091)
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.

Unregistered 05-06-2013 07:16 AM

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

Unregistered 05-06-2013 07:55 AM

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.

Quote:

Originally Posted by Wiseman1 (Post 38091)
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.


Unregistered 05-06-2013 08:16 AM

Quote:

Originally Posted by Unregistered (Post 38120)
44, unemployed
Passive income $40k pa
Net worth $1.5 mil

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

Unregistered 05-06-2013 10:22 AM

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.

Unregistered 05-06-2013 11:38 AM

Quote:

Originally Posted by Unregistered (Post 38120)
44, unemployed
Passive income $40k pa
Net worth $1.5 mil

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

Unregistered 05-06-2013 03:22 PM

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?

Quote:

Originally Posted by Unregistered (Post 38070)
Oi, can stop using red ink or not. Very rude and hard to read.

What you want the gahmen to do? Stop all land sales immediately? You know what will happen right?

Building cost, raw materials, land cost are not cheap, in fact they are always going up. How can developers sell low?

Already 7 rounds of CM, speculators are weeded out, who then are making all the purchases?

It was also reported that many S'poreans are buying properties overseas (UK, M'sia, Aust, etc). How come? Where the money come from?

Can someone get to the bottom of this? Any hard data?



All times are GMT +8. The time now is 10:18 AM.

Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2