Whats your net worth

#**1651** (**permalink**) 21-10-2013, 02:01 PM

Quote:

Originally Posted by Unregistered

You speak like a fool

Why not share your thoughts?? Boy

#**1652** (**permalink**) 21-10-2013, 02:03 PM

Quote:

Originally Posted by Unregistered

Yah, I am curious too.

Assuming you started work at 24, retired at 48, you have 24 years to get paid and invest to achieve $15M. Average $600+ k pa.. are you sure? and if you are achieving that, I really doubt you will let go... at 48...

lordlad · #**1653** (**permalink**) 21-10-2013, 02:14 PM

some of the numbers that was spouted here gave me rashes......probably because i am allergic to bullsh!t....so if you all can excuse me......:P

#**1654** (**permalink**) 22-10-2013, 07:50 AM

55, owns a 5 room HDB flat, paid up, now worth $900k. Cash, CPF and other assets $600k. Drives a cab. Plans to sell the flat when I reach 60 and buy a studio flat for the elderly, costing $70k. Will then buy annuity for me and wife each with $1.5m. We will retire at 60. My flat is the best investment in my life as I bought it 25 years ago at a very low price. Thanks to our government and country's growth, our property value go up and can make taxi driver like me to retire at 60. Our flat is the best retirement asset, I am very happy with my wise investment to buy a 5 room flat. I am very smart to buy the flat, my friends that time told me to just buy a 3 room flat.

#**1655** (**permalink**) 22-10-2013, 08:59 AM

Quote:

Originally Posted by Unregistered

55, owns a 5 room HDB flat, paid up, now worth $900k. Cash, CPF and other assets $600k. Drives a cab. Plans to sell the flat when I reach 60 and buy a studio flat for the elderly, costing $70k. Will then buy annuity for me and wife each with $1.5m. We will retire at 60. My flat is the best investment in my life as I bought it 25 years ago at a very low price. Thanks to our government and country's growth, our property value go up and can make taxi driver like me to retire at 60. Our flat is the best retirement asset, I am very happy with my wise investment to buy a 5 room flat. I am very smart to buy the flat, my friends that time told me to just buy a 3 room flat.

No offense, but you sound very pro government. Question, would you still sing the same tune if your flat is unable to fetch $900k as you stipulated when you're 60? Bearing in mind all the effects of the property market corrections implemented by the government can only be seen and felt 5 - 10 years later. Will you still sing their praises, or curse them when your flat can only be sold for $500k or less?

It's one thing to plan so nicely and bang on your property for cash, but unless you can milk your cow now, it's all just speculation.

#**1656** (**permalink**) 22-10-2013, 09:25 AM

Hi Mr Cabby, good that you are happy with your life. Happiness is priceless.

Some food for thought:

1. To remain happy, do not compare with others. There is always someone else (actually many) who will be richer than you..So best not to visit forums like this one.
2. Buying annuity may not be a wise move. Reasons being:
- payout is fixed (and currently it is quite low) and does not keep up with inflation
- Lump sum is tied up, and cannot withdraw for emergencies
- When you pass on, money not used is forfeited (make sure you buy one that gives the remaining sum back to your spouse or children, but dont think many have this feature)
- there are other avenues like stocks and shares that give much better returns for your money and you can sell some off if you need emergency funds.

Quote:

Originally Posted by Unregistered

55, owns a 5 room HDB flat, paid up, now worth $900k. Cash, CPF and other assets $600k. Drives a cab. Plans to sell the flat when I reach 60 and buy a studio flat for the elderly, costing $70k. Will then buy annuity for me and wife each with $1.5m. We will retire at 60. My flat is the best investment in my life as I bought it 25 years ago at a very low price. Thanks to our government and country's growth, our property value go up and can make taxi driver like me to retire at 60. Our flat is the best retirement asset, I am very happy with my wise investment to buy a 5 room flat. I am very smart to buy the flat, my friends that time told me to just buy a 3 room flat.

#**1657** (**permalink**) 22-10-2013, 11:58 AM

Quote:

Originally Posted by lordlad

some of the numbers that was spouted here gave me rashes......probably because i am allergic to bullsh!t....so if you all can excuse me......:P

True, mostly are with few millions net worth with condo or landed in D10/9/11 and speak like a successful investor... but yet worrying if able to retire.. contradicting idiots..

#**1658** (**permalink**) 22-10-2013, 11:59 AM

Quote:

Originally Posted by Unregistered

No offense, but you sound very pro government. Question, would you still sing the same tune if your flat is unable to fetch $900k as you stipulated when you're 60? Bearing in mind all the effects of the property market corrections implemented by the government can only be seen and felt 5 - 10 years later. Will you still sing their praises, or curse them when your flat can only be sold for $500k or less?

It's one thing to plan so nicely and bang on your property for cash, but unless you can milk your cow now, it's all just speculation.

You bought it since BTO...??