Whats your net worth

[Hermit]

Originally Posted by Unregistered

Me and wife's combined net worth is about S$1.5 mil

We are 50 years old

How to retire like that?

Our net worth is so small by Singaporean standards.

Any advice?

Downgrade your residence.

Continue working.

Start a small business/sideline.

It is getting harder for many people to truly retire these days.


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Originally Posted by Unregistered

I'm almost 50 yrs old and am thinking of retiring. My passive income from property and stock dividends is about $250,000/year. However, there are so many people in this forum earning $200K+, I feel that if I retire and live on my $250K, all these people will soon surpass me. Should I keep on working?

Ha, unless you intend to leave all your money to the gov or descendants.

250K a year of passive income, assuming a generous 10% yield.
Meaning a whopping 25M capital.

For someone with 40 years of working life, 200K from the 1 year and saved every single cent. It would mean only 8M.

So don't worry you are well ahead......in your dreams.

Originally Posted by Unregistered

Ha, unless you intend to leave all your money to the gov or descendants.

250K a year of passive income, assuming a generous 10% yield.
Meaning a whopping 25M capital.

For someone with 40 years of working life, 200K from the 1 year and saved every single cent. It would mean only 8M.

So don't worry you are well ahead......in your dreams.

Wrong math. 2.5M Capital.

Originally Posted by Unregistered

Me and wife's combined net worth is about S$1.5 mil

We are 50 years old

How to retire like that?

Our net worth is so small by Singaporean standards.

Any advice?

500K for hdb, 1M in reits yielding 7% and live simply on 3K month you should be ok.

[oldman]

Born and bred Singaporean

Age: 63 (gonna retire at 65)

Income from job: 600k+ (300k+ salary + 200-300k bonus from stock options+ cash bonus)

Job: Works for a Fortune 10 MNC as a mid to senior level exec. Worked in the same company for 35+ years.

Current House: 8000+ sq ft freehold bungalow in Buikit Timah. Bought in 2001 for 3M+ (~$400 per sq ft). Spent 1M+ to rebuild. Should be worth 10M+ today based on $1300 per sq ft.

Cars: 3 cars at home. Paid for with cash

Other properties:
1) 3000+ sq ft freehold semi-d in bukit timah. Bought in the 80s for $450k. Should be worth 4M+ today based on ~$1300 per sq ft. Rebuilt the house in 2000.
2) 2500+ sq freehold condo in bukit timah. Bought in 2010 at 2k+ per sq ft(4M+). Still under construction. Only paid 30% of it to date. Will pay the rest with my cash savings.

Cash: 5M+ in the bank

Stocks: ~500k

Passive income: 168k a year from the rental of my semi-d

Debt: Nil.

Family: Wife in her 60s too. Retired 10 years ago. Kids are in their 20s and working now.

Not a big spender. Save over 70% of my money every month.

Originally Posted by oldman

Born and bred Singaporean

Age: 63 (gonna retire at 65)

Income from job: 600k+ (300k+ salary + 200-300k bonus from stock options+ cash bonus)

Job: Works for a Fortune 10 MNC as a mid to senior level exec. Worked in the same company for 35+ years.

Current House: 8000+ sq ft freehold bungalow in Buikit Timah. Bought in 2001 for 3M+ (~$400 per sq ft). Spent 1M+ to rebuild. Should be worth 10M+ today based on $1300 per sq ft.

Cars: 3 cars at home. Paid for with cash

Other properties:
1) 3000+ sq ft freehold semi-d in bukit timah. Bought in the 80s for $450k. Should be worth 4M+ today based on ~$1300 per sq ft. Rebuilt the house in 2000.
2) 2500+ sq freehold condo in bukit timah. Bought in 2010 at 2k+ per sq ft(4M+). Still under construction. Only paid 30% of it to date. Will pay the rest with my cash savings.

Cash: 5M+ in the bank

Stocks: ~500k

Passive income: 168k a year from the rental of my semi-d

Debt: Nil.

Family: Wife in her 60s too. Retired 10 years ago. Kids are in their 20s and working now.

Not a big spender. Save over 70% of my money every month.

Dear oldman, what's your secret to getting such a good job? Or is it pure luck?

[Hermit]

Originally Posted by Unregistered

Dear oldman, what's your secret to getting such a good job? Or is it pure luck?

I do not believe people "chance" upon good jobs. <Oldman> acquired experience and skills through many years of staying in the same organisation. And wisely invested in properties etc to secure his family's interests against inflation and frills. What many see as good luck is exactly the opposite. It is hard work and wisdom.

Originally Posted by Unregistered

Stocktake 2 mths later
Age: 30
Property: Condo (1M value now, Outstanding loan 451k)
Cash: 94k
Stocks: 5k
CPF: 41k (OA & SA)
Income: 5.2k monthly
Still no car, no kids, and rather frugal in lifestyle.

Looking back, it was a mistake to sell my shares. But I am still bearish on the economy.
In a few months time, will have 100k in cash. Should I buy a car, invest in overseas property, buy some high dividend stocks, or wait for a better opportunity?

What would u do with 100k?

Stocktake 2 mths later
Age: 30
Property: Condo (1M value now, Outstanding loan 447k)
Cash: 103k
Stocks: 5k
CPF: 43k (OA & SA)
Income: 5.2k monthly
No car, no kids. Spent more money this past two months, saved less than normal. With such high inflation (5%), concerned about it eroding savings. With stocks on a downtrend, and property likely to go down with the additional buyers stamp duty, I don't see any good and safe investment opportunities to make money or to protect my savings against inflation. COE is still very high, does not make sense to buy a car, although its not pleasant walking in the rain and splashing puddles these days.

Originally Posted by Unregistered

Stocktake 2 mths later
Age: 30
Property: Condo (1M value now, Outstanding loan 447k)
Cash: 103k
Stocks: 5k
CPF: 43k (OA & SA)
Income: 5.2k monthly
No car, no kids. Spent more money this past two months, saved less than normal. With such high inflation (5%), concerned about it eroding savings. With stocks on a downtrend, and property likely to go down with the additional buyers stamp duty, I don't see any good and safe investment opportunities to make money or to protect my savings against inflation. COE is still very high, does not make sense to buy a car, although its not pleasant walking in the rain and splashing puddles these days.

How did you save 9k cash in 2 months when you only make 5.2k a month?

Originally Posted by Unregistered

How did you save 9k cash in 2 months when you only make 5.2k a month?

Simple. Get a bonus but don't spend it.