Whats your net worth

Originally Posted by Unregistered

Uncertainty may not just be retrenchment. Have you thought of sudden health or death? nobody knows what will happen tomorrow. Sorry, just being pragmatic, no offence.

Uncertainty may not just be retrenchment. Have you thought of sudden health failure or death? nobody knows what will happen tomorrow. Sorry, just being pragmatic, no offence.

We have a serious problem of property oversupply from BTOs building (driven by people who want to buy cheap and hoping to flip after MOP) and oversupply of condos which becomes empty when completed as they are mostly bought by property speculators who think they can rent them out. The reality today is that the number of FTs are not many. So the vacancy rates for properties is rising to almost 10%. Will we have the phenomenum of "ghost condos" where condos lie empty as the owners are property speculators who cannot find tenants to rent to as the number of FTs are not many. This is a huge problem which many threaten the financial system if not handled well.

How do we solve this problem?

1. We must stop GLS for the next 5 years or so.
2. We must stop property speculation. Increase the ABSD for second and subsequent properties to 60% for all (citizens, PRs, foreigners, companies, etc) and increase down payment to 80%. This would discourage the HDB dwellers from trying to be property speculators.
3. Increase significantly the number of FTs coming here to help the rental market.

We need to increase demand for rental properties and cut new supply. This will help to stabilize the market from crashing.

With your kind of thinking, it is best you dont leave your flat. You know, you could be killed by killer litter, or run down by a car, lorry or cyclist.

Wait a minute, you might get electrocuted just showering, by short circuit in the water heater. Lets say you scared of being electrocuted, so you shower with cold water. But you end up getting heart attack because of the sudden change in body temperature caused by the cold water. So you dont shower. Lets see what next.

Dont cook using your gas stove. It could explode in your face. So best to buy ready cooked food. But since you dare not leave your flat, what to do now?

You dont shower, dont eat, dare not leave your flat. The conclusion is obvious.

Originally Posted by Unregistered

Uncertainty may not just be retrenchment. Have you thought of sudden health failure or death? nobody knows what will happen tomorrow. Sorry, just being pragmatic, no offence.

Originally Posted by Unregistered

With your kind of thinking, it is best you dont leave your flat. You know, you could be killed by killer litter, or run down by a car, lorry or cyclist.

Wait a minute, you might get electrocuted just showering, by short circuit in the water heater. Lets say you scared of being electrocuted, so you shower with cold water. But you end up getting heart attack because of the sudden change in body temperature caused by the cold water. So you dont shower. Lets see what next.

Dont cook using your gas stove. It could explode in your face. So best to buy ready cooked food. But since you dare not leave your flat, what to do now?

You dont shower, dont eat, dare not leave your flat. The conclusion is obvious.

Seriously, you don't have to foul this forum with your filthy mouth.
Retrenchment is not the only concern. Many people overlooked sudden health or fatal illness.
I myself am a high risk taker, but still just a word of caution. If you don't appreciate this, it's ok but be mindful of your manners.

Agree.

Clear and present danger.

Need to solve this massive oversupply problem immediately.

Overspeculation in the property market driven by greed.

Most worrying is the HDB owners wanting to buy condo for speculation. Policy must change - those hdb flat owners must sell their flat if they buy private properties. This is to be fair to current private property owners who have to sell their private properties if they buy a hdb flat.

Originally Posted by Unregistered

We have a serious problem of property oversupply from BTOs building (driven by people who want to buy cheap and hoping to flip after MOP) and oversupply of condos which becomes empty when completed as they are mostly bought by property speculators who think they can rent them out. The reality today is that the number of FTs are not many. So the vacancy rates for properties is rising to almost 10%. Will we have the phenomenum of "ghost condos" where condos lie empty as the owners are property speculators who cannot find tenants to rent to as the number of FTs are not many. This is a huge problem which many threaten the financial system if not handled well.

How do we solve this problem?

1. We must stop GLS for the next 5 years or so.
2. We must stop property speculation. Increase the ABSD for second and subsequent properties to 60% for all (citizens, PRs, foreigners, companies, etc) and increase down payment to 80%. This would discourage the HDB dwellers from trying to be property speculators.
3. Increase significantly the number of FTs coming here to help the rental market.

We need to increase demand for rental properties and cut new supply. This will help to stabilize the market from crashing.

Instead of thanking the poster for pointing out how silly your argument was, you entered into mud slinging. Very narrow minded and thin skinned.

Originally Posted by Unregistered

Seriously, you don't have to foul this forum with your filthy mouth.
Retrenchment is not the only concern. Many people overlooked sudden health or fatal illness.
I myself am a high risk taker, but still just a word of caution. If you don't appreciate this, it's ok but be mindful of your manners.

The property market will become a bubble when the demand for properties are driven by speculators. Both speculator developers and speculator buyers. Developers just keep promoting to HDB flat owners, telling them to buy for investment. The outcome is the condos eventually become empty because there are no tenants. The number of FTs now is not sufficient to rent the empty condos. If the whole condo is bought by speculators and is just for renting out and with no tenant, the condo then becomes "ghost condos".

So, it is important that we must have a new rule that for HDB flat owners who buy a private property, they must sell their flat so that they will move to the condo. This will reduce the risk of "ghost condos".

Originally Posted by Unregistered

Instead of thanking the poster for pointing out how silly your argument was, you entered into mud slinging. Very narrow minded and thin skinned.

Who's the one narrow minded, thinn skinned? It was a very pragmatic thought and I already humbly said no offence. It's ok if my kind thoughts are not appreciated but you dont have to give such immature exaggerated comments. Just remember your very own words the day your ailing health or someone close to you hits you. But honestly, I dont. God bless you.

47/49 couple, total income $120k pa.
Lives in a 4 room HDB flat worth $400k, fully paid up.
Two children, one boy and one girl, both in poly.
Cash $50k
CPF $300k
Stocks $60k
Total net worth $810k
How are we doing?
How can we prepare for retirement?

My wife and I are working professionals in our late 30s
Salary $220k pa salary and save about $60k pa
Own a 5-room HDB flat worth about $550k fully paid
Other savings and assets about $250k
CPF $150k
No loan except for 2 yr old car and car loan left with $40k

Net worth about $400k excluding HDB flat

I don’t intend to retire early before my 60s , my wife hopes to retire by early 50s, or maybe she will continue to take up some stress-free part-time jobs. I figure that would bring our savings target to $1.5 mil (before any investment returns).

Many grad couples are doing much better than us financially, but ut we are contented with our incomes and intend to lead a simple and balanced family life instead of pursue ambitious careers. Some people say that with 3 kids we should try to earn more for them. But my wife always say that kids should be independent and not rely on parents retirement nest egg. What do you think?