Your net worth should be more than $1m if you include your home equity. So assuming your house is worth $5m and your outstanding mortgage is $1m, then your home equity is $4m. So your net worth is $5m. Congrats.
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Why not buy the 2 rooms BTO for singles? Many singles buying not for stay but to flip after MOP. Look at the high demand from singles. The BTO flats priced so cheaply.
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buy resale - rent 1 room ,stay in 1 room. can get back more orredy. but care tell me the time line how much money to prepare. The property price $445k. only help get from parent is keep telling get loan from hdb more stable. i check bank got low interest. how?? |
My retirement plan is simple. In 10 years time, I will reach 65. I will rent out my HDB exec flat for S$4k a month. I bought the flat at $300k many years ago and now it is worth $700k and fully paid up. I will then retire in KL, where I have many friends and family members. My rental income in RM will be about RM10k. I can easily rent a studio condo unit in KL for RM2k per month. The balance of RM8k is more than enough for food, transport and entertainment. In fact, I can save at least RM3k per month.
So, you don't need to be a multi millionaire to retire. Your HDB flat asset is good enough. Just need to think outside the box. I am a Singaporean. I support the government's asset appreciation policy. Good for many people who are retiring. Our HDB flat is a very important retirement asset. |
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renting your house, your asset and compromise your retirement life into a rented unit is a good idea, but doesn't mean you are successful in investment. unless you say I rent out my hdb and upgrade to a landed, then yes, you did well in the past. imagine at age 65, you have to face your landlord, pay rental every month, yes, you can afford it, but it is terrible feelings. |
What are you talking about? I'm not the high flier who earn a lot and can own multiple properties. I only earn $60k pa. A landed property is definitely out. With my salary, I can only afford a HDB flat which becomes not only a home while I'm working in Singapore but also a retirement asset in the future. My HDB flat is my only meaningful asset. I have some cash and CPF but they are not that much. Yes, I am not rich but at least the government gives me hope of retirement, never mind if it is not in Singapore.
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There are indeed many PRs who become very rich after selling. You are ignorant or pretend to be ignorant. Let's introduce capital gains tax for PRs selling HDB flats to prevent abuse. In fact they should be banned from buying HDB flat. They can always rent from Singaporeans. |
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