Whats your net worth

Originally Posted by Bee

I was actually thinking that if I were to pay up all my HDB mortgage as soon as I can, I can then allow my CPF money to grow from then on.

Another question:
1) Is it advisable to sell off my current HDB unit and buy another HDB unit from the resale market? In this way, I will be able to get some cash from the transaction (current unit bought at $220K and now worth $440K)
2) Is it advisable to keep the current unit and instead, buy another condo for investment?

In either case, I think that my CPF would be wiped out right??

Considering that your cash position is quite low, I would go for (1). Your CPF OA will be "topped up" when you sell, and "wiped out" when you buy. But I heard you can buy unit trusts with OA during the transition period and then sell the unit trusts after you have made the purchase, so your OA will still have some money.

age 36.

property - paid up
2.5 ltr car - paid up
stock - zero
cash - $3.5mil
CPF - zero

my returns is very bad as interest is low. Waiting for chance to make more investments with better returns

Originally Posted by Unregistered

age 36.

property - paid up
2.5 ltr car - paid up
stock - zero
cash - $3.5mil
CPF - zero

my returns is very bad as interest is low. Waiting for chance to make more investments with better returns

zero CPF? never worked in your life?

self employed

Originally Posted by Unregistered

self employed

thought you still have to contribute the equivalent of 4.5k to Medisave or something?

Originally Posted by Bee

Comparing myself with all of you out there, I am so embarass to declare my net worth.

But anyway, here it is;
31 year old female, married
5-rm HDB valued at S$440,000 (sharing with hubby, fully paid)
1.5L Car (fully paid)
CPF - $0 (used up to clear HDB mortgage)
Savings (cash and stocks) - S$50,000
No outstanding loans or debts

I used to have much more savings but my savings were almost wiped out to pay for my wedding, honeymoon, car, house renovation, furnitures etc etc about 1 year ago. I also have to give parents.

I am currently saving up from scratch at a rate of S$2800 per month consistently in the form of cash, insurance and unit trust/shares. I am not sure when I can achieve what you guys out there have achieved. I am feeling so sad now.

Based on my current networth (if any) and savings, please advise me if I can ever dream of a retirement at all. Thanks.

Hi Bee,

I think you are doing fine. You have a flat, a car and the most important thing is that you do not have any debt. Your saving of $2.8k per month may be modest but if you can continue to save that amount till you retire, it would have accumulated quite a significant amount for retirement. Without debt you have less fear, and that is an important factor when you make decisions on financial matters, like investments. Build up your wealth through consistent savings, and smart investments. A down to earth approach guarantees lower risks and higher success rate.

Some people have weird reason about taking advantage of the HPIS insurance. And including the death of their spouse as part of their financial planning is not really a good idea, at least that's how I look at it. I think you have done quite well so far, assuming you are in the middle income group.

[sbsbus]

Age : 31
cash : 160k
cpf : none
Properties: 1 d9 condo bought abt 1.1mil, 1 condo in bkk bought t 150kplus.(all not fully paid )

Problem:

Just bought a d9 condo recently at 1700 psf. Now with market booming like crazy , please advise if i should sell my place now and pocket the profits. Recently lost over 400plus k in my business quite cash tight . Should I hold or sell now ?

Please give me your 2 cents worh .

Originally Posted by sbsbus

Age : 31
cash : 160k
cpf : none
Properties: 1 d9 condo bought abt 1.1mil, 1 condo in bkk bought t 150kplus.(all not fully paid )

Problem:

Just bought a d9 condo recently at 1700 psf. Now with market booming like crazy , please advise if i should sell my place now and pocket the profits. Recently lost over 400plus k in my business quite cash tight . Should I hold or sell now ?

Please give me your 2 cents worh .

Since you are sitting on profits now and need the money, sell now. Don't be greedy. You never know what's going to happen tomorrow. Share prices are dropping now as we speak.

I'm very impressed wih what I read. I've been a bit of a spender, and really gotta start saving:

Age: 36
Property: Terrace house. Current worth approx 2.2 M (loan 1M)
Car: Paid
Cash:20k
Shares: 20k
CPF:20K
Pay: 150K per annum

No other debt

How to grow my wealth eh?

Originally Posted by Unregistered

I'm very impressed wih what I read. I've been a bit of a spender, and really gotta start saving:

Age: 36
Property: Terrace house. Current worth approx 2.2 M (loan 1M)
Car: Paid
Cash:20k
Shares: 20k
CPF:20K
Pay: 150K per annum

No other debt

How to grow my wealth eh?

Why so little cash? If you are a high income earner, I suppose you spend a large portion of your monthly earnings? Or are you a business owner, with irregular income?