Whats your net worth

We are a low income family, staying in a 4 room HDB flat. Our family income is only $38k pa. Can anyone tell us where we can get cheap or free food? Thank you.

While it is true $38K pa is rather low in today's context, you didnt say whether yours is a young family just starting out or a mature family, with or without children, and aged parents to take care of. The two situations are very different in terms of needs and potential.

With the internet, now it is very easy to find out where to get help. Just type in "welfare organisations Singapore" and you will get the whole list of organisations helping the poor in all manner of needs.

As to where to get cheap foods and groceries, I think NTUC, Sheng Siong and wet markets do offer affordable staples. My family eats out once a week only (on Sundays), and we have all our other meals at home - home cooked. This has been a "tradition" in my family since we got married 30 yrs ago when our young combined household income was just $30k pa. Although now we are more financially able, we still stick to this tradition of eating at home even on days when I end my work at 9pm. Same for my grown up children, they will take their dinner at home even if their CCA end late.

Another good saving habit I like to share is having holidays in our neighbouring countries (M'sia and Indonesia) instead of the US, Europe, Australia, NZ or Japan. For the longest time, that's where we spent our holidays where each time we spent no more than 2K RM.

These habits have enabled us to save consistently. It was only recently when our investments started giving us passive income over $50K pa that we ventured further afield for our holidays. We started first with Thailand in 2007, and then to US, Europe, NZ and Australia on our subsequent holidays all funded by the passive incomes.

So if yours is a young family just starting out, know that your income will grow and remember to save consistently to reap your rewards later. If your family is a mature family, there are many welfare organisations out there that can be tapped on for help

Originally Posted by Unregistered

We are a low income family, staying in a 4 room HDB flat. Our family income is only $38k pa. Can anyone tell us where we can get cheap or free food? Thank you.

Originally Posted by Unregistered

I used to earn $200k pa but decided to slow down. I'm 50 and semi-retired. Doing part time work, earning $50k pa. Net worth, including primary home, is $1.6m. Although I am poorer now since I am earning lesser, I am happier as I have more free time to exercise and read.

Is it possible to share what kind of part-time work you are doing?

Me, 35. Wife, 40. 1 kid. Yearly household income $140k. Currently living in a 5 room HDB flat. Aspire to buy a PC. We are now selling our flat, hope we can get $700k. Then can buy a PC, budget $1.3m. Planning to take only 30% loan, will use our net sale proceeds from flat plus our CPF and cash savings to pay 70% downpayment. Our current net worth, including flat, CPF, cash, equities, etc is $1.6m. Finally, our dream condo with nice pool and gym will come true! The Singapore dream!

Originally Posted by Unregistered

Me, 35. Wife, 40. 1 kid. Yearly household income $140k. Currently living in a 5 room HDB flat. Aspire to buy a PC. We are now selling our flat, hope we can get $700k. Then can buy a PC, budget $1.3m. Planning to take only 30% loan, will use our net sale proceeds from flat plus our CPF and cash savings to pay 70% downpayment. Our current net worth, including flat, CPF, cash, equities, etc is $1.6m. Finally, our dream condo with nice pool and gym will come true! The Singapore dream!

this kind of pathetic amt dare to call sg dream

Good for you. Make sure the condo has good facilities, eg, swimming pool of at least 35 - 40 m length, tennis courts and gym at the very least. And ample car parks. Otherwise better off staying in HDB.

I still remember the excitement when we moved into our current condo from HDB many years ago. The condo has full facilities and ample car parks (covered ones some more). Although living in HDB flat was good, we found living in the condo much better. Exclusive (privacy), ample car park, facilities at door door (no need to join country clubs). Quality of life certainly gone up.

Originally Posted by Unregistered

Me, 35. Wife, 40. 1 kid. Yearly household income $140k. Currently living in a 5 room HDB flat. Aspire to buy a PC. We are now selling our flat, hope we can get $700k. Then can buy a PC, budget $1.3m. Planning to take only 30% loan, will use our net sale proceeds from flat plus our CPF and cash savings to pay 70% downpayment. Our current net worth, including flat, CPF, cash, equities, etc is $1.6m. Finally, our dream condo with nice pool and gym will come true! The Singapore dream!

Originally Posted by Unregistered

Me, 35. Wife, 40. 1 kid. Yearly household income $140k. Currently living in a 5 room HDB flat. Aspire to buy a PC. We are now selling our flat, hope we can get $700k. Then can buy a PC, budget $1.3m. Planning to take only 30% loan, will use our net sale proceeds from flat plus our CPF and cash savings to pay 70% downpayment. Our current net worth, including flat, CPF, cash, equities, etc is $1.6m. Finally, our dream condo with nice pool and gym will come true! The Singapore dream!

Why not buy a jb condo, rent out hdb for passive income, commute to sing by rts when up in 2018?

Originally Posted by Unregistered

Why not buy a jb condo, rent out hdb for passive income, commute to sing by rts when up in 2018?

Singapore properties are now at a peak, might be dangerous to go in now, also not financially wise to pour in all yr savings. What about saving for yr retirement and yr kid's uni in future? If rts really comes up, can even buy a car in malaysia, and travel quite easily via mrt to work and school. Think it is a financially wiser move as property may drop soon in singapore. Hdb for passive rental income and jb has lower cost of living means you can retire earlier rather than slog all yr life. Jobs security in singspore is also not guaranteed.

I have a landed terrace now and hope to pay off the outstanding loan soon, also just bought a semi d in jb gated and guarded in an upmarket area. Hope to retire in 8 years time when i will be 46 years old by renting out or cashing out my landed. Can travel via rts and thomson line for my 2 kids for their school and may still work a bit if bored.
More singaporeans should do this, buy a house or condo freehold in jb and rent out their hdb for early retirement. Why slog all yr life in singapore?

Originally Posted by Unregistered

Why not buy a jb condo, rent out hdb for passive income, commute to sing by rts when up in 2018?

Living in JB is a big no no for us. We don't want to get robbed in daylight, car jacked or gunned down in a coffee shop.