Originally Posted by Unregistered (Post 43847)

Couple in mid 40s, annual savings $35k pa.
Total net worth $2m. Owns a condo, car.
Can we retire by 62? How do we retire?
Is downgrading to a HDB flat the way to go?
Please share your experience if you have retired.
Thanks.

Originally Posted by Unregistered (Post 43896)

See this video:

Millions of Millionaires at Top of Wealth Pyramid - YouTube

I am a member of the 0.7% of the world's population.

I feel very blessed since I come from a poor family. I studied and worked hard and the system has uplifted my social status by leaps and bounds. I would not be able to achieve what I am today if I was born in most other countries in the world.

Our Singapore government and system have made me a millionaire. I am so thankful.

I will definitely give my vote again to the government in 2016.

Originally Posted by Unregistered (Post 43741)

Mr Unregistered 1's disdain of Bankers and his consequent actions are completely irrational and naive. Can't believe you think they are pragmatic.

Bankers and analysts can be experts, and good advisors but there are good and bad ones. You have to distinguish. If you watch all the wall street conspiracy movies, you and Unregistered 1 will derive pleasure in hating the evil banker, but that's hollywood. The truth is far more complex. It has to do with Government and global competition.

Not sure about your analogy. Better to think of it like management cut your IT security budget so that the company could make more money. You let go a few key staff, then a hacker wiped out your system, and the company lost money. Suddenly you are blamed for not doing your job.

Originally Posted by Unregistered (Post 43902)

How old are you and what line are you in?

Originally Posted by Unregistered (Post 43893)

Care to share any reits yielding 7% now?? Would like to buy some..

Originally Posted by Unregistered (Post 43917)

You might want to check out this site for dividend payout of local shares. A Dividend Seeker on SGX


You can find a number of stocks giving more 7% dividends even at current prices

Originally Posted by Unregistered (Post 43884)

We are in our late 30s and we just bought a condo for $1.1m, taking a loan of $800k. Our combined annual income is $120k and we will have to service our mortgage for many years till we retire. We take MRT to work. We can afford to save only $20k pa. We hope we can still work for years to come.

Originally Posted by lordlad (Post 43945)

that's a very huge loan and your combine income with your spouse is not that much.....I just reached 30s and single and my annual income alone is about half of you have and i wouldn't in my wildest dream will be getting a condo even if i doubled my salary because the squeeze will be too much...

my 2 cents.

Originally Posted by Unregistered (Post 43947)

800k loan for a 120 p.a. salary is very reasonable. About 36k of instalments a year, meaning it's just 30% of their annual income.(And they have no loans to service depreciating assets like cars.)

He's maximising leverage and I think it might pay off yet, given that interest rates are so low at the moment. It's also a good hedge against future inflation.

I am assuming he still has some cash at hand for emergencies.