Hi,

Just wonder how you acheive CPF 950K?

Did you invest your CPF and earn a good return?

I trying to make my CPF $$ work harder but at this moment could not find any better return than earning the CPF interest which is risk free.

Currently have been topping up $7K to reduce my tax and earn the 4% on the special account.

Thanks

Married couple, late 30s

Landed property 4.5m
Loan 2.85m
Cash 1.25m
Cpf 0.5 m

2cars fully paid 0.3m

Assets net of loan 3.7m
Combine income 700k

Congrats. You already made it in life. Any advice for the struggling class on how to get such high paying jobs?

Dont think I have made it in terms of being debt free
We are still technically in debt, until we match our debt, we are still in the rat race. We aim to be technically debt free in 3 years .

There is no short cut for getting where we are today. It's a mixture of hard work, luck and opportunities. 3 years ago, we were at half of what we earn today. So income was not the main driver in the accumulation of assets. It was actually property that helped to increase out asset size.

As for advice, we could have been debt free much earlier if not for being too short term in our investment . Should try to accumulate more cash and spend less on unnecessary luxury items like watches, bags . Also try to have an additional property ( which unfortunately we sold way too early) or investment for passive rental income. We intend to build a portfolio that gives us that at 5% or more return and aim to generate 200k In passive income. At this rate we need 4 million cash and we are still quite far from the target. Hopefully we can enjoy the same or more level of income for us to achieve that in 5 to 8 years time. We aim to 'retire ' by age 45 and work for passion after that ( haha )

To sum up, work hard , invest smart and spend smart (something that we had to work harder on)

On one more thing, be in the sales line if you want to get quick and fast returns vs managerial roles. If you are good in your job, you will usually make more than your peers . But it is a boom and bust job so you need to grab your opportunities as it comes,

As for what type of sales, it depends. If you are in a line that makes millions in revenue for your company, you will do better that the person that sells a million units but at revenue of 10 cents per unit in another


Good luck!

Thanks to Anothernumber for sharing. But 700k income is nothing to laugh about. Assuming you spend 20% and invest/save the rest, you will reach your goal very soon. Even half of 700k is a lot (350k). Mind sharing which line are you in? Are you business owners?

3.048 mio CASH
1.040 mio Stocks
0.364 mio CPF

HDB flat left 70k loan

38 yrs old married single income 3 kids

don't belief in singapore story and property in singapore.
plan to be light and easy, should the island sink, i can move out immediately, hence the heavy cash component.

am i insane? am i okay? i see people chasing after properties these few years but me simply do the opposite - nothing. abit insane now. haha.

Mind sharing what you are working as?

Just a humble heartland, and based on the incomes and assets in this thread mine is nothing to shout about.

$1.9m mostly in unit trust / shares
$1.8m invt pty under construction - 50% share with in law (20% downpayment, 80% loan)
$750k Bishan HDB flat fully paid
$370k CPF
$60K Jap car fully paid

$500 combined income - both of us in banking support roles - 38 yrs old this year with 2 kids.

You mean $500k combined ? Support roles can make so much?