Retirement
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Oh no no...I am looking at 4%pa interest from AUD or RM term deposits so capital only S$1.6 million and that is net proceeds after selling our property and paying off the mortgage.
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I don't have a maid and I do everything myself. All those years buying and collecting souvenirs are collecting dust now. It takes time to clean it. I realized one thing that as you aged you don't need it anymore. So, those broken ones I threw away or recycle it by placing it in the garden as decorations. Some I gave it away to the neighbourhood kids.
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Originally posted by mummy1234:
Sometimes feel like selling everything in Sg and retire now as putting the money in a fixed deposit can also give us S$5000+ a month, more than enough to live on in JB. Can even put children in international schools...when time for uni can use some of the capital which had been protected to put them in IMU in KL where their medical graduates can work in Sg. The remaining money in fixed deposit can still give us S$3000+ a month even if we spend S$600k on their uni fees...
If you feel its time to move out and its like you feel is the right time to do it...and its the best for you and your family and you have the means to do it....why wait...do it when you are still young, strong mentally and physically...see what you can do and achieve outside Singapore... -
Originally posted by mummy1234:
Oh no no...I am looking at 4%pa interest from AUD or RM term deposits so capital only S$1.6 million and that is net proceeds after selling our property and paying off the mortgage.
Living a life that is debt free is like living in heaven.... -
Yes, agree that being debt free is what we are aiming for. But in this day and age, I think it is impossible to be debt free. Fortunately, there is so called good debt, which can help us to manage and progress towards our financial goals.
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For me, the most important good debt is housing and you should have this commitment when you are still in your early 20s. and have it fully paid when you are 40 or 40 plus year old so you could live a debt free lifestyle. In Singapore, that is quite challenging and difficult to do this but if you buy that property abroad which cost less plus spacious and good quality, its very achieveable.....even a young single Singaporean in his or her 20s could afford and own a landed/condominium freehold property abroad and plan their own semi-retirement or retirement without following their own country government guideline or seeking their support to do this. ..
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30 year mortgage loan is affordable.
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I think 30 year mortgage loan may not be affordable if you choose housing with price well beyond your reach. For me, I don't think I can afford to pay a condo at prime area even if I take the maximum loan period. It's important to choose housing that we can afford within your means, or else we may even end up financing a debt with another debt.
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I think i can afford a 1 million dollar condo if my mortgage loan is 200 years.
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Originally posted by fastdollaronline:
I think 30 year mortgage loan may not be affordable if you choose housing with price well beyond your reach. For me, I don't think I can afford to pay a condo at prime area even if I take the maximum loan period. It's important to choose housing that we can afford within your means, or else we may even end up financing a debt with another debt.
In Singapore or abroad you mean? You have to start from somewhere. What are your plans to own a property and planning for your retirement? -
Originally posted by zulkifli mahmood:
For me, the most important good debt is housing and you should have this commitment when you are still in your early 20s. and have it fully paid when you are 40 or 40 plus year old so you could live a debt free lifestyle. In Singapore, that is quite challenging and difficult to do this but if you buy that property abroad which cost less plus spacious and good quality, its very achieveable…..even a young single Singaporean in his or her 20s could afford and own a landed/condominium freehold property abroad and plan their own semi-retirement or retirement without following their own country government guideline or seeking their support to do this. ..
Problem is for HDB, as we know due to cooling measure, it is unlikely that in 10 years time you can sell your HDB flats for higher price and upgrade to better housing and it make not sense to go for another HDB unless one example you go from 3-three to five-room, that why a lot of people try to go for EC since the price is determined by market and later as their price go up, they continued to upgrade to Outside Central Region (OCR) Condo and so on. -
The beaches at Batangas in the southern part of Luzon Island in the Philippines are normally turned into a resort with good amenities. The beaches in Batangas are black volcanic sands. A. SANTOS PARADISE - SWIMMING POOL & RESORT http://www.asantosparadiseresort.com/
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LA SUENA BRISA - BEACH RESORT & EVENTS PLACE - BATANGAS http://www.lasuenabrisaresort.com/
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Work until what age then can get back cpf?
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There is a castle at Tagaytay near the border of Batangas in the Philippines. Its a theme park.
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Tagaytay has changed so much since the last time I visited this area two years ago. It is now the main attraction not only for the international tourists but also to the Filipinos. They have developed an amusement park called the Sky Ranch and the main attraction of the amusement park is the tallest Ferris Wheel in the Philippines called the Sky Eye over looking the beautiful scenic of Lake Taal and its surrounding area. Its gondola can fit 4 people and its a 10 minutes ride. Tagaytay is a cool climate area all year round and during hot seasons this area is crowded.
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Originally posted by charlize:
Work until what age then can get back cpf?
depends on how much you have in cpf, at 55 you get back most of it, even the PRC women know that and you don't know? shame on you.
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Originally posted by zulkifli mahmood:
The beaches at Batangas in the southern part of Luzon Island in the Philippines are normally turned into a resort with good amenities. The beaches in Batangas are black volcanic sands.
A. SANTOS PARADISE – SWIMMING POOL & RESORT
volcano eruption, earthquake and typhoon almost every year...
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Originally posted by sgdiehard:
depends on how much you have in cpf, at 55 you get back most of it, even the PRC women know that and you don't know? shame on you.
55 can get back cpf?
But still need to pay off 30 year housing loan.
cpf got money left?
really?
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Originally posted by PJ_Quek:
volcano eruption, earthquake and typhoon almost every year...
Typhoon is the most oftenly occurrences in the Philippines. Every year there are more than a dozen typhoons that devastated the Philippines. -
Originally posted by charlize:
55 can get back cpf?
But still need to pay off 30 year housing loan.
cpf got money left?
really?
pay a visit to CPF board, the counter girls will explain to you in details. She may ask you: what is your IC no, do you know?
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Originally posted by sgdiehard:
pay a visit to CPF board, the counter girls will explain to you in details. She may ask you: what is your IC no, do you know?
you forget to tell charlize to bring along his birth certificate to double confirm his identity..they need to know whether he was born in Singapore or in other country and if so to check whether his birth certificate is fake birth certificate or genuine....like your situation...lols