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22-01-2015, 07:57 AM
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Since you are the only one working and has unstable income, it is best you are conservative. Can you guarantee you still have a job tomorrow? Will you be the next victim of retrenchments? What if your income goes from $200k pa to zero?
So it is best you just buy a 4 room HDB flat and pay it in full. So that you don't have to worry about a place to stay. Keep the rest of your wealth in cash as you have two small kids and wife to feed. If you lose your job, at least you have cash to feed them.
To retire, when your kids move out, you can rent out your rooms to FTs. You can also ask your kids to give you monthly allowance of $1000 from each kid.
Quote:
Originally Posted by Unregistered
how am I doing.?
43y old...2kids...single inc 350k...may go down to 200 to 250k range
expenses of 150k..no car
2.1 mill networth out of which 400k cpf
all cash
renting at 40k...looking to buy a condo for own stay of 1.5 to 2mill when prices drop further
how much should put into condo.? and what else should i do to retire by 55? |
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22-01-2015, 11:41 PM
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40 yo single uncle networth $701K
Cash + stocks = 358K
CPF OA = 233K
CPF SA+MA =110K
no house, no car, no women ......... 
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23-01-2015, 12:43 PM
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Quote:
Originally Posted by Unregistered
40 yo single uncle networth $701K
Cash + stocks = 358K
CPF OA = 233K
CPF SA+MA =110K
no house, no car, no women ......... |
You should buy a hdb flat and pay in full. Then get a new car. Women will come to you immediately.
5 room HDB flat $450k
New car $120k
Total cost $570k
You can use your cash, stocks and CPF to pay for your flat and car
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12-02-2015, 02:07 AM
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Junior Member
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Join Date: Aug 2010
Posts: 5
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37 years old, degree holder, single
Cash/stock~300k
CPF~300k
Car~40k
Income~95k pa
Debt free.
This is quite low compared to the figures I am seeing here. Am I considered poor for my age?
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12-02-2015, 09:55 AM
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Quote:
Originally Posted by thomas
37 years old, degree holder, single
Cash/stock~300k
CPF~300k
Car~40k
Income~95k pa
Debt free.
This is quite low compared to the figures I am seeing here. Am I considered poor for my age? |
Just curious, why are you single? Not interested in women or other reasons?
Looking at your income and assets, you are not poor, I'm sure there are women out there who would be interested if you are.
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12-02-2015, 09:36 PM
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Junior Member
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Join Date: Aug 2010
Posts: 5
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I am interested in women, just that past relationships didn't work out
Any ladies here interested, feel free to PM, LOL.
Quote:
Originally Posted by Unregistered
Just curious, why are you single? Not interested in women or other reasons?
Looking at your income and assets, you are not poor, I'm sure there are women out there who would be interested if you are.
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12-02-2015, 10:16 PM
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Quote:
Originally Posted by thomas
37 years old, degree holder, single
Cash/stock~300k
CPF~300k
Car~40k
Income~95k pa
Debt free.
This is quite low compared to the figures I am seeing here. Am I considered poor for my age? |
not poor but probably average for degree holder.
based on my observation among peers and social circle, to be considered above-average your net worth and income should be about double of your current level
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12-02-2015, 10:33 PM
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Junior Member
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Join Date: Aug 2010
Posts: 5
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Yeah I agree. Most of my friends got married soon after graduation in 2002. Managed to buy property at rock bottom prices. This fact alone has put many of my peers way ahead of me.
Quote:
Originally Posted by Unregistered
not poor but probably average for degree holder.
based on my observation among peers and social circle, to be considered above-average your net worth and income should be about double of your current level
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14-02-2015, 08:43 AM
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Breakdown of our net worth:
1. 5 room HDB flat, now worth $650k. Loan left $150k. Net equity of home $500k.
2. CPF combined $400k.
3. Cash $100k.
4. Car $50k.
Total $1.05m.
We are a millionaire couple, 40 & 44 years old. I think we are among the top 5% in terms of net worth among our age group peers. How about you?
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14-02-2015, 12:34 PM
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Congrats on being a millionaire couple! Don't think you're top 5% though. Top 30% perhaps?
Quote:
Originally Posted by Unregistered
Breakdown of our net worth:
1. 5 room HDB flat, now worth $650k. Loan left $150k. Net equity of home $500k.
2. CPF combined $400k.
3. Cash $100k.
4. Car $50k.
Total $1.05m.
We are a millionaire couple, 40 & 44 years old. I think we are among the top 5% in terms of net worth among our age group peers. How about you? |
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