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Age:46
Occupation: single income in ship brokerage Property: $5.5m (3 properties, one houses parents, other is rented) Stocks & Unit Trusts: $6.9m Cash: $600K Loans: $2.5m (both property and margin financing) Income: $500K+ & $400K of passive income from rental, interest & dividends |
41, business owner.
Annual salary: $900k. Owns 2 bungalows and 3 condos. Net worth: Only $20m. Target net worth before retiring: $50m. Need to work harder. |
You make me feel very small :-( my wife and I only have one property, our 4 room HDB flat which is about $450k. Our other assets and cash only $200k. We are both 48. Our salary together only $70k a year. How can we retire? What business can we do to be rich like you?
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What about your CPF savings? If you can meet the minimum when you are 55 you can at least look forward to some payout when you are 65. The minimum sum by this July 2013 will be $148k. In 7 yrs time when you hit 55, it could be raised to $250k possibly. With that, you can expect $2k payout each month or $4k total with your wife. This plus contribution from your children, you can retire. Just have to live simply.
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32, financial analyst
Annual salary: $240k. Owns 1 condo for staying and 1 for investment and other public securities Net worth: Only $2.3m. Target net worth before retiring: $10m at 40 yrs old |
44, poor landlord. Very stressful job, every month collect rent. Need to travel to ATM to withdraw rent for monthly expenses. Need to read lots of news to keep updated on property and economic market trends and developments. Earns only $72k per year. Owns only 3 condos, staying in one of them.
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44 already and only own 3 condos? better work harder |
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