Whats your net worth

31yo, male, single
Annual wage >$142k
Cash >$2k
Stocks >$210k
Unit trusts >$35k
CPF > $220k
Property ($1.2mn; paid up $300k)

How poor/rich/average am I?

My situation.

Me 34 150k/yr
My wife 33 80-85k/yr
Hdb mansion almost paid. Valuation s$650k net of loan 550k
Cash and investments combined 600k
Second hand car 40k fully paid
Maid
1 kid and one more coming..


Wonder if I should upgrade to a pte apartment so that I can pass something to my kids when I pass on.. Thanks

[newsgprop]

Originally Posted by Unregistered

My situation.

Me 34 150k/yr
My wife 33 80-85k/yr
Hdb mansion almost paid. Valuation s$650k net of loan 550k
Cash and investments combined 600k
Second hand car 40k fully paid
Maid
1 kid and one more coming..


Wonder if I should upgrade to a pte apartment so that I can pass something to my kids when I pass on.. Thanks

You should get a new private apartment to protect your wealth. if you need assistance, please PM me. Thanks

50 & 51 couple.
Condo worth $1.2m, paid up.
Cash & CPF, $600k.
Total net worth, $1.8m.
Any advice how can we prepare for retirement?
We want to retire at 62.

Originally Posted by Unregistered

50 & 51 couple.
Condo worth $1.2m, paid up.
Cash & CPF, $600k.
Total net worth, $1.8m.
Any advice how can we prepare for retirement?
We want to retire at 62.

You are on track.

Buy a studio with your 600k. Move in there. Rent out your 1.2 m condo. (Or, stay put, but rent out your studio). This is your passive income.

Read this article on why it is dangerous and stupid to buy property now. Your condos will be empty for a long time, you cannot rent out due to the oversupply, unless there is a change in policy to bring in more FTs. Now, we don't have many FTs coming.

We are seeing MASSIVE OVERSUPPLY OF EMPTY CONDO UNITS.


Empty homes on the rise in S'pore

Aug 25, 2014

The number of vacant private homes in Singapore is steadily rising, climbing 10.3 percent to 21,268 units in Q2 2014 from 19,284 units in the previous quarter, revealed a Savills report.

Notably, the vacancy rate rose to 7.1 percent from 6.6 percent in Q1.

The greater number of empty units on the market comes despite strong leasing demand in Q2, with rental deals reaching a record 15,053 transactions, or a 12.2 percent increase from the quarter before.

According to Savills, the increasing stock of housing units is a contributing factor.

“At the end of Q2 2014, there were 297,998 available private homes across the island, an increase of 1.6 percent from the 293,283 units at the end of March,” the report said.

Most came from completed suburban condominium projects such as The Lakefront Residences on Lakeside Drive (629 units), Foresque Residences on Petir Road (496 units), Waterfront Gold on Bedok Reservoir Road (361 units) and The Greenwich on Seletar Road (319 units).

The central region also saw the completion of several developments, including Silversea on Marine Parade Road (383 units), Sophia Residences on Sophia Road (272 units) and Cyan on Keng Chin Road (278 units).

Looking ahead, Savills forecasts the island-wide vacancy rate will increase further with the impending new supply.

“Some 8,066 new private residential units are expected to be completed by the end of 2014. This could possibly drive the island-wide vacancy rate up to double digits before the year ends,” concluded the consultancy.

Originally Posted by Unregistered

You are on track.

Buy a studio with your 600k. Move in there. Rent out your 1.2 m condo. (Or, stay put, but rent out your studio). This is your passive income.

how do i compare?

age 23 male full time uni undergrad
working as part time tutor

stocks 128k
cash 30k
cpf 6k

no house, no car, living with parents in hdb
worked part time before entering uni and did ns

You are doing quite well for a student... Would u share how u've accumulated 128k and all that cash? Leveraged trading for the most part?

Originally Posted by Unregistered

how do i compare?

age 23 male full time uni undergrad
working as part time tutor

stocks 128k
cash 30k
cpf 6k

no house, no car, living with parents in hdb
worked part time before entering uni and did ns

It has always been our dream to live in a condo. We are already in our late 30s but have not achieved our dream. We will work harder to earn more so that we can afford an EC. Our flat is now worth $400k and we still loan for the flat. Our net worth is only $500k. Our income in total is $8k pm. Is it advisable for us to upgrade to a condo?

45, 44, total net worth $6m.
Planning to retire in Penang next year.
Looking forward to meet my old friends and family members there.
We are going to spend more time with our old parents and bring them to see the world.