Whats your net worth

Originally Posted by Unregistered

The Purpose of Life - By Jeffrey Lang - YouTube

thanks for sharing. appreciate.

In 2006, at the age of 50, I bought a landed property. Many of my friends, relatives and colleagues thought I was crazy. It was the best investment decision in my life. The house appreciated in value a lot and last year, at the peak of the market, I sold it off. I made a huge profit. With the profit, I bought a brand new condo and paid it off in cash. I also have excess cash to invest in blue chip stocks. Now I get $100k pa in stocks dividends and I and my wife can now retire as our sons are both working and I no longer need to support them financially, even though they are still staying in my condo. I save $40k pa now, which I reinvest to grow my stocks portfolio. I am also debt free. Now my friends, relatives and ex-colleagues say I am a good investor. Those same people said I was crazy! That's life. Hahaha.

Originally Posted by Unregistered

Many rich ppl here still working at age 50's, 60's and even 70's and said that it is because the country needs them, gohmen encourage them to work and contribute at old age... it is 90% bull sh*t.. they are just not willing to let go what they are having now, high salary, status & power in the company, women... because once they leave the organisation, they are nobody anymore... I see many MDs, high management level.. while they are in that position, business partners, subordinates all waiting to buy them expensive dinners (few k a meal), not only them, their families as well... they are so well treated like emperor, during festive seasons, they get so many hampers, gifts, cash... the moment they retired and leave, nobody seems to remember them the following year.. no more gifts, hampers, meals (not even at hawker stalls), no visitors, no calls during festive seasons except relative and friends.. they are just a normal person on street.. real big difference.. So they just continue to work very hard, in order to maintain their position and fall sick one day, then realised they have been working entire life, did not enjoy much on their hobbies, loose bonding with family... and leave all the money to their children.. and 99% causing a lot quarrel, court case...

Add on...

I feel very funny to read post like... Me and my wife target to save 3 million dollars when we retired at 62 and move to KL, or BKK or a small town in Malaysia\Thailand\... etc.. then our 3 million will be 7 million and we will be super rich in the community, we can buy a big bungalow facing the sea.... get 2 maids and a driver and live like a king... I laugh every time I see this..

First of all, if you retired at 62, what do you want to do? Spend your remaining time with your children, grandchildren (if you have), your friends, relatives... your hobbies? with ppl you are happy with? chit chat at the coffee shop, high tea... exercise... with ppl you like?? Go for food that you like (which you avoid in the past because of long q... no time to travel that far...) Speand time in your own house, watching tv with your family..

What if you moved to BKK, KL or a small town? Are you sure you want to do that at age 62? (You are lucky if you can make it to that age) uproot yourself just to be richer? No friends, no relatives.. nobody you know there.. just 2 old folks staying in a big house, is that what you want? Of cos, you have few more millions in your pocket, but how much can you spend at 62? why do you need to be richer in the poor way (by converting the currency)? and bear in mind, you can get $2 chicken rice here, the same portion cost RM4.5 in KL, won ton noodle here $2.5, RM5 in KL.. Coffee $0.9 here and RM2 in KL(comparing hawker stalls to hawker stalls), cannot really enjoy your meal because anytime you might get robbed... whats the big difference of converting and get few M more but spend more.. check out same Iphone price here and in KL, BKK...

So, please think before simply posting nonsense here.. IF you have few M and worried about retirement life in Sg.. .please work till the last breath.. People with 100k CPF are happily drinking beer with friends in coffee shop everyday... But people with few M worried about it.. compare to the 100k CPF uncle, you are big loser... they already enjoying, you??

Originally Posted by Unregistered

Add on...

I feel very funny to read post like... Me and my wife target to save 3 million dollars when we retired at 62 and move to KL, or BKK or a small town in Malaysia\Thailand\... etc.. then our 3 million will be 7 million and we will be super rich in the community, we can buy a big bungalow facing the sea.... get 2 maids and a driver and live like a king... I laugh every time I see this..

First of all, if you retired at 62, what do you want to do? Spend your remaining time with your children, grandchildren (if you have), your friends, relatives... your hobbies? with ppl you are happy with? chit chat at the coffee shop, high tea... exercise... with ppl you like?? Go for food that you like (which you avoid in the past because of long q... no time to travel that far...) Speand time in your own house, watching tv with your family..

What if you moved to BKK, KL or a small town? Are you sure you want to do that at age 62? (You are lucky if you can make it to that age) uproot yourself just to be richer? No friends, no relatives.. nobody you know there.. just 2 old folks staying in a big house, is that what you want? Of cos, you have few more millions in your pocket, but how much can you spend at 62? why do you need to be richer in the poor way (by converting the currency)? and bear in mind, you can get $2 chicken rice here, the same portion cost RM4.5 in KL, won ton noodle here $2.5, RM5 in KL.. Coffee $0.9 here and RM2 in KL(comparing hawker stalls to hawker stalls), cannot really enjoy your meal because anytime you might get robbed... whats the big difference of converting and get few M more but spend more.. check out same Iphone price here and in KL, BKK...

So, please think before simply posting nonsense here.. IF you have few M and worried about retirement life in Sg.. .please work till the last breath.. People with 100k CPF are happily drinking beer with friends in coffee shop everyday... But people with few M worried about it.. compare to the 100k CPF uncle, you are big loser... they already enjoying, you??

I'm not sure about moving overseas but there are lots of people I know who are retired and who managed to keep themselves occupied. Actually, there isn't a lot of time left once you get the routine things out of the way, like reading the papers, exercise in the morning, breakfast, lunch, dinner, shopping for groceries, simple household chores, entertain children and grandchildren when they come visiting and so on.

sorry, i retract my earlier post. misread the meaning of the earlier poster.

You are the man. Your annualized returns must be better than any investment manager in the world. I may do the same but I have to move from my 3 bedroom condo to a cheap 4 room HDB flat in the Jurong Lake District. I plan to retire when I reach 60.

Originally Posted by Unregistered

In 2006, at the age of 50, I bought a landed property. Many of my friends, relatives and colleagues thought I was crazy. It was the best investment decision in my life. The house appreciated in value a lot and last year, at the peak of the market, I sold it off. I made a huge profit. With the profit, I bought a brand new condo and paid it off in cash. I also have excess cash to invest in blue chip stocks. Now I get $100k pa in stocks dividends and I and my wife can now retire as our sons are both working and I no longer need to support them financially, even though they are still staying in my condo. I save $40k pa now, which I reinvest to grow my stocks portfolio. I am also debt free. Now my friends, relatives and ex-colleagues say I am a good investor. Those same people said I was crazy! That's life. Hahaha.

My wife and I have been working for more than 25 years and we are getting really tired. Luckily we still manage to have holiday breaks. When we go for our holidays, we always study whether the places we visited are location where we can retire.

We finally decided that Chiang Mai in Thailand would be a good place where we can retire very comfortably - eating in local restaurants every other day, relaxing and can afford to employ a maid and a driver.

How is this possible? Here is how.

Our 5 room HDB flat is now worth S$700k and plus our cash savings we can have S$1m in CASH after selling our HDB flat. We will then convert the S$1m to get 25m Thai Baht !!!! That is a lot of money to retire on in Chiang Mai.

We hope to retire in a couple of years time when we hit 55.

Our investment in our HDB flat is our best investment ever !!!!!!!!

Originally Posted by Unregistered

My wife and I have been working for more than 25 years and we are getting really tired. Luckily we still manage to have holiday breaks. When we go for our holidays, we always study whether the places we visited are location where we can retire.

We finally decided that Chiang Mai in Thailand would be a good place where we can retire very comfortably - eating in local restaurants every other day, relaxing and can afford to employ a maid and a driver.

How is this possible? Here is how.

Our 5 room HDB flat is now worth S$700k and plus our cash savings we can have S$1m in CASH after selling our HDB flat. We will then convert the S$1m to get 25m Thai Baht !!!! That is a lot of money to retire on in Chiang Mai.

We hope to retire in a couple of years time when we hit 55.

Our investment in our HDB flat is our best investment ever !!!!!!!!

With the huge supply of BTOs coming up, and rules of PR needing 3 years before they can buy HDB, you still so sure you can sell your flat at $700k? Probably before 2009 that is possible. But with property prices so volatile now, you probably have to wait off beyond 2016 to try anything.

And your HDB is NOT an investment as you're staying in it. It is a necessity. Please don't view HDB as an investment as you pay more than 2% interest, and you have to repay back to CPF + their interest rates upon selling your house. Granted you may sell it for $700k, the fact that you've been paying back housing loan at that interest means at least $100k - $200k of your profit gets eaten up (dependable on the no. of years you've paid). Not to mention you have to put back into CPF.

At the end of the day, your cash in hand may jolly well be only $200k - $300k if you're lucky (assuming you bought your house ard $200k).

Well good luck to you.

People (those who are rich enough) around the region are flocking to stay in Singapore, and here we have people seeking to retire elsewhere.

Evaluate your plans thoroughly. It is best to list down all the factors for and against staying here versus elsewhere. At the end of the day, you will realise that it is just the cost of living which you may decide that it is worth paying for - for the convenience, safety, standard of living, cleanliness, orderliness etc... of staying in Singapore.

Many people make the mistake of falling in love with the places they visited as holiday makers. But believe me, when you have to live there day-in, day-out it is a totally different matter altogether.

An extreme example was when we went to Switzerland for holiday. We thoroughly enjoyed the falling snow. Each morning we were excited to wake up seeing falling snow flakes. But to our great surprise, an elderly Swiss couple told us they couldnt wait to get out of the place if they had the money. They said they couldnt bear the cold any longer. Each year, they dread the winter season.

Also suicide rates climb during the gloomy winter periods.

Originally Posted by Unregistered

My wife and I have been working for more than 25 years and we are getting really tired. Luckily we still manage to have holiday breaks. When we go for our holidays, we always study whether the places we visited are location where we can retire.

We finally decided that Chiang Mai in Thailand would be a good place where we can retire very comfortably - eating in local restaurants every other day, relaxing and can afford to employ a maid and a driver.

How is this possible? Here is how.

Our 5 room HDB flat is now worth S$700k and plus our cash savings we can have S$1m in CASH after selling our HDB flat. We will then convert the S$1m to get 25m Thai Baht !!!! That is a lot of money to retire on in Chiang Mai.

We hope to retire in a couple of years time when we hit 55.

Our investment in our HDB flat is our best investment ever !!!!!!!!

In that case, I will sell my flat now if the price is going to drop in 2 years time. I'm confident I can sell at $700k. In fact, those around me already sold at $800k. My location is very popular, matured estate, near MRT station and no BTOs at all.

I think even though my money will go into my CPF account, I can still get it after 55. Anyway, with the cash savings I have in hand, I have no problem getting at least $600k now and the rest we can get when we reach 55. $600k in fact can last me more than 30 years in Chiang Mai for retirement.

So, if I can sell my flat this year, we can retire 2 years earlier!!! This is exciting !!! Thanks for the info. I will call my propery agent friends now.

Originally Posted by Unregistered

With the huge supply of BTOs coming up, and rules of PR needing 3 years before they can buy HDB, you still so sure you can sell your flat at $700k? Probably before 2009 that is possible. But with property prices so volatile now, you probably have to wait off beyond 2016 to try anything.

And your HDB is NOT an investment as you're staying in it. It is a necessity. Please don't view HDB as an investment as you pay more than 2% interest, and you have to repay back to CPF + their interest rates upon selling your house. Granted you may sell it for $700k, the fact that you've been paying back housing loan at that interest means at least $100k - $200k of your profit gets eaten up (dependable on the no. of years you've paid). Not to mention you have to put back into CPF.

At the end of the day, your cash in hand may jolly well be only $200k - $300k if you're lucky (assuming you bought your house ard $200k).