Whats your net worth

What you can enjoy after you're >60 y.o. anyway? It's better to enjoy life when you're youngster. And don't let your younger life led into miserable lifestyle.

Originally Posted by Unregistered

just because u cannot make it and enjoy life at 60 dun mean everyone must follow you. sinkie average life span is 80+, u want to rot for another 20+ years is ur prob, why keep sour grape put down others who want to live life to the fullest?

Originally Posted by currents ityngg

Do you read the news or see the reality. Hundred millions of peoples overseas bought landed properties. It's not even a luxury things there. Talking about crime rate, Sg crime rate are just equals to Malaysia. Only the news hides the fact. So you get the same chance of getting rape/robed here. Which big cities that don't have traffic jam anyway?

How much fine dining can you go when you get old and have health problem, why you need to pay extra to go exotic places where most of those location are in third world countries. Best uni is only for smart student, not for rich parents. So many good and cheap hospital, why you need to pay lux bed when your whole body can't even feel the comfort.

Psst. I hear that landed properties are really cheap in Mongolia. Haha

You really think Malaysia is safe like Singapore and the traffic in KL is the same. No wonder you are an alien.. from Mars perhaps?

I will think of you one day when you are rotting away in some free Malaysian government hospital.

Originally Posted by Unregistered

May I know how much is the monthly payout from a 1m annuity?

Our CPF Life is about $1,000 per month where Govt gives a 4% return on $148K. So $1m should be around $7K/m if you are 65 years old.

Originally Posted by currents ityngg

You should ask yourself, $2mil cash on the bank, for what? I means, for those 60 years of savings, no holiday, no fine dining, no car, no entertainment, nothing to enjoy, just working-working and collects money. Simply I couldn't live with this kind of lifestyle. And after we are 60 years old we have no appetite for all these things anymore, we only need basic stuff.

What you strive for and what he strives for is different, the late Far East Boss was also a stingy chap. One could say he dunno how to enjoy life given his billions by not buying a yacht and private plane etc.

So am not sure what your point is, some ppl earn money the hard way and dun like to spend. I heard of traders who make 100K a month, millions in bonuses and blow 50K a night buying bottles of Cristal on parties just to look good. To them that's enjoying life, they could give you the same about you right?

Originally Posted by Unregistered

Our CPF Life is about $1,000 per month where Govt gives a 4% return on $148K. So $1m should be around $7K/m if you are 65 years old.

Is CPF an annuity that has zero value at the end?

Originally Posted by Unregistered

Is CPF an annuity that has zero value at the end?

CPF Life is actually two annuities. One when you reach 55 and another when you reach 65, when the payments actually start. An annuity doesn't end i.e., you get the payment for the rest of your life. Depending on the particular CPF Life plan you choose, and the age you die, it may or may not have a value at the end for your beneficiaries. One of the plans has no value once you reach 85, even though you continue to get payments. The other one continues to have something small for your beneficiaries no matter how old you die. In both plans, if you die early, say at 66, your beneficiaries get most of the savings.

Household income, $140k pa. Savings, $30k pa. Living in a condo. Net worth (combined), $2.4m. Over the next 10 years, expected net worth, to reach $5m. We hope $5m is enough for the two of us to retire on. If we continue to live in the condo we should have about $3.5m to retire on.

With $30k pa savings how could you manage to increase your networth from $2.4m to $5m within 10 years? 10x$30k is only $300k??? And next 10years your condo price will be only priced at $1.5m, because no body want to buy old condos anymore.

Originally Posted by Unregistered

Household income, $140k pa. Savings, $30k pa. Living in a condo. Net worth (combined), $2.4m. Over the next 10 years, expected net worth, to reach $5m. We hope $5m is enough for the two of us to retire on. If we continue to live in the condo we should have about $3.5m to retire on.

I am like you. And I believe there are many more like minded people out there.

What I am saying is that we are dreamers. We dream big, the impossible..

I save $15K a month, and I am also targeting to hit $5m net worth in 10 years. Impossible some would say, but it is my dream not theirs. My income is $250K pa. But as a bachelor, my yearly expense is only $60K (get around with small Jap car). Rest are saved up and invested.

Things could change if I find someone special

Originally Posted by Unregistered

Household income, $140k pa. Savings, $30k pa. Living in a condo. Net worth (combined), $2.4m. Over the next 10 years, expected net worth, to reach $5m. We hope $5m is enough for the two of us to retire on. If we continue to live in the condo we should have about $3.5m to retire on.

Originally Posted by Unregistered

I am like you. And I believe there are many more like minded people out there.

What I am saying is that we are dreamers. We dream big, the impossible..

I save $15K a month, and I am also targeting to hit $5m net worth in 10 years. Impossible some would say, but it is my dream not theirs. My income is $250K pa. But as a bachelor, my yearly expense is only $60K (get around with small Jap car). Rest are saved up and invested.

Things could change if I find someone special

Wad a bullsh1t, u mention in earlier post u earn 140k p.a and save 30k p.a
Then now u say save 15k a month, so contradicting, are those numbers in the same currency?

Here my net worth, a property worth 900k paid in cash, a 5 room hdb in northeast worth 450k after deduct 70k loan, no stocks only some FD and annuities worth 600k. Earning 350k p.a nd save around 10-15k per month due to lavish lifestyle. Bought my brand new merc E back in 2010. Holiday more than 4x, flexible work, grown up child (in Poly) and i'm in my late 40s. Havent include my wife networth as i believe we r talkin about individual here.

Some people say i earn so much must be rich, i said no cos i lost alot during recession, lost my job, my car and almost my home. Only recent 4 years i doing well. Still far away from retirement though, maybe when i reach 60 then i consider to retire, maybe by that time inflation hit high, everything become less and i had continue to work...