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Whats your net worth

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  #1631 (permalink)  
Old 17-10-2013, 11:03 AM
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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.
Agree. I know many friends who are making 60-80k taking up loans to buy condos as well. Property is the safest way to riches in Singapore, any people have retired in mid 40s through property.

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  #1632 (permalink)  
Old 17-10-2013, 11:46 AM
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It may seem like a lot - $800K loan. But the favourable factors are many:

1. Couple is young, means lots of upside potential - promotion, salary rise, etc.
2. Property loan interest is dirt cheap. A crime not to leverage on this cheap money
3. Buying property is a form of forced savings
4. S'pore is land scarce. Long term property value should follow in tandem or exceed inflation.

I am speaking from experience. We forgo our chance to own HDB when they told us we have to wait 2.5 yrs for one. So we took the plunge (bit the bullet) and bought private a 2 bedder apartment. Initially it was scary, and for sure we had to tighten our belts.

We have since upgraded twice and living in our current 4 bedder condo fully paid. And we bought another for rental income.


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Originally Posted by lordlad View Post
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.


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  #1633 (permalink)  
Old 17-10-2013, 01:14 PM
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I'm 48, retired. Used to be a high flying corporate executive in an MNC. Decided to retire early as I have made enough. Time for me to smell the roses. Life is short.
Sounds more like made redundant and removed, at 48 retired? I am 49, potential net worth $4m with three properties, 1 landed, 1 HDB and 1 commercial...still working my guts off as a salaried employee, maybe 5 years time slow down at 55, smell a bit of roses, hoping I can find a nice cushy Govt job to work till I am in my 60s, the money forgone in retirement is just too good to miss working.

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  #1634 (permalink)  
Old 17-10-2013, 06:32 PM
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Nope, with a net worth of $15m, I figured it is enough to retire comfortably. My passive income from my investment portfolio is more than 5 times my expenses. As for you, continue to work harder, $4m is too little to retire. You should only retire when you have at least $10m.

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Sounds more like made redundant and removed, at 48 retired? I am 49, potential net worth $4m with three properties, 1 landed, 1 HDB and 1 commercial...still working my guts off as a salaried employee, maybe 5 years time slow down at 55, smell a bit of roses, hoping I can find a nice cushy Govt job to work till I am in my 60s, the money forgone in retirement is just too good to miss working.
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  #1635 (permalink)  
Old 17-10-2013, 10:45 PM
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I retired at an early age of 50. I don't need $10m nor $4m to retire. I retired simply by selling my fully paid condo for $1.4m and bought a $400k HDB flat. I invested the balance $1m in high dividend stocks which gives me 6% yield. So I earn $60k pa. My annual expenses is $40k and so I save $20k pa. I don't drive, don't eat at restaurants and don't go for expensive holidays. I lead a meaningful life now.
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  #1636 (permalink)  
Old 17-10-2013, 11:56 PM
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Looks like you are single. My wife and I sold our landed house for $2.5m. $900k was used to buy a one bedroom condo and the balance of $1.6m was invested at a 5% yield. We get $80k per year, enough for both of us. We spend $65k per year. I still own a small car to drive around to do marketing. We retired at 54, 52 respectively.


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Originally Posted by Unregistered View Post
I retired at an early age of 50. I don't need $10m nor $4m to retire. I retired simply by selling my fully paid condo for $1.4m and bought a $400k HDB flat. I invested the balance $1m in high dividend stocks which gives me 6% yield. So I earn $60k pa. My annual expenses is $40k and so I save $20k pa. I don't drive, don't eat at restaurants and don't go for expensive holidays. I lead a meaningful life now.
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  #1637 (permalink)  
Old 18-10-2013, 12:16 AM
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Looks like you are single. My wife and I sold our landed house for $2.5m. $900k was used to buy a one bedroom condo and the balance of $1.6m was invested at a 5% yield. We get $80k per year, enough for both of us. We spend $65k per year. I still own a small car to drive around to do marketing. We retired at 54, 52 respectively.
i dont understand - "$1.6m was invested at a 5% yield".

My Questions
1) where did you invest?
2) is 5% guaranteed?
3) can there be negative returns?
4) is there a possibility that you will lose your $1.6m?
5) for how long is your investment? how many years?
]6) you get $80k as a lumpsum per year or $80/12 (on monthly basis) - what is the deal?
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  #1638 (permalink)  
Old 18-10-2013, 01:53 AM
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i dont understand - "$1.6m was invested at a 5% yield".

My Questions
1) where did you invest?
2) is 5% guaranteed?
3) can there be negative returns?
4) is there a possibility that you will lose your $1.6m?
5) for how long is your investment? how many years?
]6) you get $80k as a lumpsum per year or $80/12 (on monthly basis) - what is the deal?
It is guaranteed, just like the promises of The Gold Guarantee!
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  #1639 (permalink)  
Old 18-10-2013, 09:16 AM
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I retired at an early age of 50. I don't need $10m nor $4m to retire. I retired simply by selling my fully paid condo for $1.4m and bought a $400k HDB flat. I invested the balance $1m in high dividend stocks which gives me 6% yield. So I earn $60k pa. My annual expenses is $40k and so I save $20k pa. I don't drive, don't eat at restaurants and don't go for expensive holidays. I lead a meaningful life now.
Good for you, $40k annual expenses is very low, that is why I won't retire so young, any simple job these days would get another $30k or so and keeps you interacting with others and mind active. My $4m is getting a very, very modest yield of 2% plus only or about $8k per month....I don't drive and have never driven a conti car (BMW or Merc) and I hope to achieve this when I retire, I guess I would be one of the few security guards coming for work in a BMW in future LOL!
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  #1640 (permalink)  
Old 18-10-2013, 08:04 PM
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What a stupid investor .... only 2% yield.

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Originally Posted by Unregistered View Post
Good for you, $40k annual expenses is very low, that is why I won't retire so young, any simple job these days would get another $30k or so and keeps you interacting with others and mind active. My $4m is getting a very, very modest yield of 2% plus only or about $8k per month....I don't drive and have never driven a conti car (BMW or Merc) and I hope to achieve this when I retire, I guess I would be one of the few security guards coming for work in a BMW in future LOL!
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