Whats your net worth

Originally Posted by Unregistered

What's your net income after deducting the yearly total of your up-to-the-hilt debt repayments?

Net is zero - all passive income go towards servicing mortgages, renting the place I'm staying in and maintainence/prop tax etc.
But also means cashflow is good - effectively no cash outlay at all for accommodation.

Reading the posts in this thread, it appears that S$5m is the approx goal that is considered sufficient for retirement in SG by 2013 standards.

I am in my mid 40s, net worth S$6m, 4 dependants yet do no feel that I have sufficient for retirement. Am I missing something ?

Originally Posted by Unregistered

Net is zero - all passive income go towards servicing mortgages, renting the place I'm staying in and maintainence/prop tax etc.
But also means cashflow is good - effectively no cash outlay at all for accommodation.

You may want to consider deleveraging. When interest rates rise next year it will be painful, more so if property values fall

Yes you are missing something. These are the 3 main variables to the retirement sufficiency equation. The first one is the lump sum you have. In your case it's $6m. For the others it was $5m. The second variable is the passive income. If you have no passive income, you could be possibly worse off than others with lower lump sumps, but who have passive incomes. The next big variable is the expense factor.

Many posters here are targeting a passive income stream or streams to match their retirement expense. In this case, the lump sum becomes less critical / relevant. It is thus very possible for a person with only $1m in lump sum to retire very comfortably if he was able to generate
a passive income of say $50k yearly to cover a yearly expense of $40k. On the other hand, if your expense is $200k per year, without passive income, your $6m will last you 30 yrs. if you retire in your mid 40s, you will be a beggar in your 70s, and will have to depend on the $1m chap for charity.

Originally Posted by Unregistered

Reading the posts in this thread, it appears that S$5m is the approx goal that is considered sufficient for retirement in SG by 2013 standards.

I am in my mid 40s, net worth S$6m, 4 dependants yet do no feel that I have sufficient for retirement. Am I missing something ?

Originally Posted by Unregistered

Reading the posts in this thread, it appears that S$5m is the approx goal that is considered sufficient for retirement in SG by 2013 standards.

I am in my mid 40s, net worth S$6m, 4 dependants yet do no feel that I have sufficient for retirement. Am I missing something ?

You should sell your house and buy a $500k HDB flat. Assuming you are now 45 and start to retire, and assuming you will die at 85, you can then spend about $137k a year for 40 years until you die (from the balance of $5.5m).

Originally Posted by Unregistered

You may want to consider deleveraging. When interest rates rise next year it will be painful, more so if property values fall

To be clear, my net annual passive income is zero, but I have my income from work, which is untouched for debt servicing.

I was considering deleveraging, perhaps sell one of my 2 properties, but the cash would be idle and wiped out in no time by inflation, and I'd lose a passive stream of rental income. What's your view?

Originally Posted by Unregistered

To be clear, my net annual passive income is zero, but I have my income from work, which is untouched for debt servicing.

I was considering deleveraging, perhaps sell one of my 2 properties, but the cash would be idle and wiped out in no time by inflation, and I'd lose a passive stream of rental income. What's your view?

You should sell both your private properties and buy a HDB flat. Keep the cash and wait for the market to crash. Then you can buy four private properties.

58, 59 couple, retired. Living in D9 condo worth $3m. Passive income $60k pa. No debt, no car. Total net worth including home $4.8m.

Originally Posted by Unregistered

Reading the posts in this thread, it appears that S$5m is the approx goal that is considered sufficient for retirement in SG by 2013 standards.

I am in my mid 40s, net worth S$6m, 4 dependants yet do no feel that I have sufficient for retirement. Am I missing something ?

You should clear all your loans and live in a cheaper place. Sell away your condo or landed and buy a small condo worth $1m or a $1m HDB flat in Queenstown. You can then spend your $5m gradually until you pass away. If you die early, then your kids will get the cash.

65, retired, getting sufficient monthly passive income. Net worth $10m, mostly from bungalow where I'm staying in for the past 40 years. My kids nowadays are so nice to me, don't know why. I'm not a millionaire as my assets excluding my bungalow is less than US$1m. I have friends who are millionaires but living in HDB flats.