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I am 28 years old. Am I young, middle age, or old? What is your SG dream?

in the the mid 90s when I bought 6.5 acres
that's how, many times 3-room flat hor?
1 acre = 0.4 hectares = 0.4 x 10,000 sqm = 4,000 sqm
6.5 acres = 6.5 x 4,000 sqm = 26,000 sqm = 26,000 x 10.7639 sqft = 279,861 sqft

According to: http://en.wikipedia.org/wiki/Public_housing_in_Singapore#Pricing
a typical "3-room" (2 bedrooms plus 1 living room) HDB flat has an internal area of about 65 sqm, so:
26,000 sqm / 65 sqm = 400 times!
(which is possibly roughly the total number of units of a large block of HDB flats of about 40 storeys high, with 10 units per storey)

Also, an average football pitch is about 7,000 sqm (http://en.wikipedia.org/wiki/Football_pitch#Pitch_boundary), so:
26,000 sqm / 7,000 sqm = nearly 4 football pitches


East - Whitford region.
So is this where you live now? haha
http://g.co/maps/jturs
Anyway, if you're happy there, I'm happy for you too! :)
 
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28 is the ideal age to start planning for retirement. For those who aim high, the sky is the limit. My biggest regret is not aiming high enough. I set myself a financial target that was far too low. I felt it was a huge sum at the time but looking back, I could have done 10 times better. I took my foot off the gas too soon. As a result, I now have to spend my time running this stupid forum. :p

One of the worst things you can do at 28 is to sink your pants in Singapore, get trapped in the condo buying loan and keep working one's ass off for it... a condo in places like Australia is something a lance corporal in the army can afford
 
joe, i am thinking of looking you up and have a heart to heart talk, i also planning to get out...:o

he he he he he sorry having my Sunday tea now

3cc0c3a6.jpg
 
Hypothetically, how much is enough, to take the foot off the gas?
Assuming these days live to 82yrs on average!

at 30....how much?
at 40....how much?
at 50....how much?

My calculations were based on assets yielding an average of 5%.

I figured that in order to retire, I had to build up my assets to the point where they would generate between $400,000 to $500,000 per year. This meant I needed to be worth $8 to $10 million excluding the home I was living in. My plan involved not touching the principal till (and if) I got to the age of 70.

I now regret not working harder. I hate traveling nowadays because of the post 911 security measures at airports. It's a real pain. My multimillionaire friends don't have this problem. They charter a whole damned plane. I wish I had the same sort of money.

One of my cycling buddies owns a helicopter. He'll use it pop by Queenstown for the weekend while I have to go on line and book my tickets.
 
28 very soon will become 30 something and then 40 something and so on. While you are young and full of energy, better be proactive and find lobangs. Else, your degrees only good for driving taxis in Sinkeeland since employers like to higher FT than local peasants.
 
Lesser mortals like myself am happy with just 500k cash or owning my own Condo (fully paid) first. Be realistic. For anything more after that, if it comes it comes.

Oh no, that's too little.
Seven figure I only consider as being middle class.
You would have to reach eight figures to be considered rich and be able to hire people to run your errands.
Do work harder and smarter and get richer.
 
Old man, I have some spare diapers for you in the storeroom in case you leak urine again. Please don't post rubbish, or I will send you to an old folks' home! And BTW, at your age you still can post on the internet? Most people your age cannot even move anymore...stroke...cancer...heart diseases...diabetes....



How would I know that? The unemployment rate in SG is less than 2%, my fresh grad EEE engineer friend has so many offers that he is having a nice time picking and choosing. And you have a clown that cannot even find a job? Obviously the guy is either 1.expired 2.too lousy

Haha another bloody taxi loser. God, I hate taxi drivers. They are rude, obnoxious and mostly fat. I take taxis daily and sometimes I feel like buying a car just to avoid dealing with such losers on a daily basis. Taxi drivers are the second worse losers after hawkers. But I haven't eaten in a hawker centre or food court in almost a decade. It is a pity I still have to deal with taxi losers daily. Crap.

buzzlightyears ...remember my fatherly slap ?
 
Once you've hit a certain age, you should have gained enough experience and accumulated enough funds to become an employer instead of remaining an employee.

There is no retrenchment for those who own the company. There could be bankruptcy but that's entirely in your own hands. There's nobody else to blame if you fail.

well said ....
 
bro i think 2M to 5M is their own bar that they set. I dunno why so high. I think for us lesser mortals the figure should be far lower.

2 million in SGD isn't sufficient. If it's your life savings, you're not going to risk the capital so you're pretty much stuck with govt bonds or term deposits. That's 3 to 4% at most which works out to $60,000 to $80,000 per year before tax.

5 million would be a more comfortable figure.

20 million or more would be my target today if I was still in SG.
 
My calculations were based on assets yielding an average of 5%.

I figured that in order to retire, I had to build up my assets to the point where they would generate between $400,000 to $500,000 per year. This meant I needed to be worth $8 to $10 million excluding the home I was living in. My plan involved not touching the principal till (and if) I got to the age of 70.

I now regret not working harder. I hate traveling nowadays because of the post 911 security measures at airports. It's a real pain. My multimillionaire friends don't have this problem. They charter a whole damned plane. I wish I had the same sort of money.

One of my cycling buddies owns a helicopter. He'll use it pop by Queenstown for the weekend while I have to go on line and book my tickets.

micron ceo recently crash on his private plane and die. so be glad you have no private jet. dun compare with your friend on wealth, serve no purposes.
 
20 million? I dont even think i can accumulate that amount in rupiah :(


2 million in SGD isn't sufficient. If it's your life savings, you're not going to risk the capital so you're pretty much stuck with govt bonds or term deposits. That's 3 to 4% at most which works out to $60,000 to $80,000 per year before tax.

5 million would be a more comfortable figure.

20 million or more would be my target today if I was still in SG.
 
If you are 82, I doubt you can learn how to use the computer. You know what they say about old dogs....

And if you are 82, I think you have both legs in the coffin, not just one...haha just joking.



I guess I am in the low-income group then. But when I look around me and see all these old people who work for 1-2k their whole life, or the poly grads making 2k, I guess they are called the peasants? Or garbage-income group?:D

No, they are simply grouped together as low-income group. Those earning 1-2k are called 1st - 10th decile and 11th to 20 decile and so on.

http://www.singstat.gov.sg/stats/themes/people/hist/hhinc1.pdf
 
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aiyoh...boss may be joking about his amount but mine is real leh. The rascal clinton wanted to lend me some money interest free but he wanted to lift up one leg and pee on me first so i said NO

i bet he is joking.
he does not sound too rich.
 
I am 28 years old. Do you think I am young, middle age, or old?

It is quite scary really to think that half of life is already gone. I have undergrad and postgrad degrees, and yet, I can't even imagine buying a flat in Singapore. The worse thing is I make rather decent money, but I have no intention of getting married, and don't see how I can afford the downpayment for a Condo.

Nothing in Singapore motivates me really. What is your Singapore dream?

Before long, I would be just another old man with half his hair gone, leaking urine, trembling hands....:eek:

Curious
Do you list your degrees as your money-making assets or your write-off.

Does Singapore dream refers to your dream?

Do you have an opinion of yourself at all? Perhaps that would explain the lack of your motivation and why PRC talents think Singaporeans are .................

If you have a hobby, you should see if that can be upgraded to a 2nd income stream. (You become the boss)
 
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" If you have a hobby, you should see if that can be upgraded to a 2nd income stream. (You become the boss) " .

yes , ...very good advice .
 
My calculations were based on assets yielding an average of 5%.

I figured that in order to retire, I had to build up my assets to the point where they would generate between $400,000 to $500,000 per year. This meant I needed to be worth $8 to $10 million excluding the home I was living in. My plan involved not touching the principal till (and if) I got to the age of 70.

I now regret not working harder. I hate traveling nowadays because of the post 911 security measures at airports. It's a real pain. My multimillionaire friends don't have this problem. They charter a whole damned plane. I wish I had the same sort of money.

One of my cycling buddies owns a helicopter. He'll use it pop by Queenstown for the weekend while I have to go on line and book my tickets.


I'm working on the same 5% yield assumption as well but my other assumptions are considerably lower.
Target is to retire at 50yrs with an annual income of S$100k at today's value... decidedly middle class.
So, my minimum required capital excluding primary residence is S$2m.
The unknowns that I'm still grappling with are the years between 50 and 82 (as medical costs are increasingly expensive) + inflation rates in future.


Thanks for your own insights.
 
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