The RETIREMENT thread

[WangChuk]

I reached 55 about 2 years back. I withdrew all I can from CPF and left it with the minimum retention sum. I opened an investment account and learn how to trade US derivatives. Never regretted. The only regret is that I should have started earlier.

envy you having such talent, skill and knowledge to invest and trade to make big bucks .... those of us without can only rely on SA 4% (later becoming OA 2.5%) ...

 

[shock888]

envy you having such talent, skill and knowledge to invest and trade to make big bucks .... those of us without can only rely on SA 4% (later becoming OA 2.5%) ...

I had no choice. I had irregular heartbeat situation and my heart doctor told me my previous job (US MNC) will kill me.
Hence I had to stop working and had to find a way forward.

 

[Leongsam]

I had no choice. I had irregular heartbeat situation and my heart doctor told me my previous job (US MNC) will kill me.
Hence I had to stop working and had to find a way forward.

Trading can cause even more stress on the heart.

 

[k1976]

I reached 55 about 2 years back. I withdrew all I can from CPF and left it with the minimum retention sum. I opened an investment account and learn how to trade US derivatives. Never regretted. The only regret is that I should have started earlier.

That is a smart move

 

[winners]

envy you having such talent, skill and knowledge to invest and trade to make big bucks .... those of us without can only rely on SA 4% (later becoming OA 2.5%) ...

If you don't want to risk with stocks, why not buy into properties instead? In Sinkie land, buying new properties very seldom will suffer a loss.

I have 3 properties altogether with 2 out for rent. All are fully paid and I don't need to worry about servicing loan payments during bad times when there is no tenants. In fact, during the Covid crisis, my condo was vacant for more than 6 months. Not only I get to grow my passive income, I also get capital appreciation on those properties in time to come, especially the freehold condo.

Another 30% of my funds are into stocks and shares, but lately they have been underwater. During the good years pre-Covid, I did make a handsome amount though and if considered till today, I'm still net positive. With an average of S$30k of dividends collected annually, it's just an additional to fund my living expenses, apart from the rents from the 2 properties.

 

[True Believer]

Why the PAP does not want you to achieve financial independence.
However, the government has no problems with sinkies working till the day they drop dead as it removes a burden for them which is what to do with those who have no incomes. It also keeps everyone beholden to the system that they have created. If you're financially independent, they have far less of a hold over how you live your life. If you need to work, you're forced to buy into government policies which you may resent or disagree with.

This is why the govt has carved out Holland-Bukit Timah into Tanjong Pagar and Upper Bukit Timah into Jurong GC. They don't want the financially independent to be in one single SMC or GRC as these residents don't depend on and also don't qualify for handouts.

 

[WangChuk]

If you don't want to risk with stocks, why not buy into properties instead? In Sinkie land, buying new properties very seldom will suffer a loss.

I have 3 properties altogether with 2 out for rent. All are fully paid and I don't need to worry about servicing loan payments during bad times when there is no tenants. In fact, during the Covid crisis, my condo was vacant for more than 6 months. Not only I get to grow my passive income, I also get capital appreciation on those properties in time to come, especially the freehold condo.

Another 30% of my funds are into stocks and shares, but lately they have been underwater. During the good years pre-Covid, I did make a handsome amount though and if considered till today, I'm still net positive. With an average of S$30k of dividends collected annually, it's just an additional to fund my living expenses, apart from the rents from the 2 properties.

alamak ... dont shame moi lah ..... where got so much money to buy properties siah ... moi just low ses sinkies waiting to die ....

 

[True Believer]

alamak ... dont shame moi lah ..... where got so much money to buy properties siah ... moi just low ses sinkies waiting to die ....

Every S'porean will much rather wait to die in his landed home or condo than in a HDB pigeon hole he/she does not even own.

 

[WangChuk]

Every S'porean will much rather wait to die in his landed home or condo than in a HDB pigeon hole he/she does not even own.

dream and reality always opposite ... moi will be sleep in the void deck for 3 days before go BBQ in mandai ....

 

[True Believer]

dream and reality always opposite ... moi will be sleep in the void deck for 3 days before go BBQ in mandai ....

A rich guy "BBQ" inside his Porsche recently. It doesn't matter how rich you are when the BBQ fire is lit for you.

 

[Robert Half]

I dun think that it is so bad staying in the HDB flats as larger families stay in 4-rooms or 5-rooms apartments .. some people even bought 6-rooms maisonette.

If anyone is not well-heeled own & stay in a 99 years leasehold private condo can cause a huge financial pressure

For low income earners (single or married) can get quite a generous grants in applying bto for 2-rooms or 3-rooms flats

In short .. they are many families & singles lived comfortably & happily in the HDB flats they bought

 

[Papsmearer]

I dun think that it is so bad staying in the HDB flats as larger families stay in 4-rooms or 5-rooms apartments .. some people even bought 6-rooms maisonette.

If anyone is not well-heeled own & stay in a 99 years leasehold private condo can cause a huge financial pressure

For low income earners (single or married) can get quite a generous grants in applying bto for 2-rooms or 3-rooms flats

In short .. they are many families & singles lived comfortably & happily in the HDB flats they bought

That is not the point. People may not have a problem staying in a HDB flat but don't lie to them and tell them they own it. they don't. they are only tenants.

 

[Robert Half]

That is not the point. People may not have a problem staying in a HDB flat but don't lie to them and tell them they own it. they don't. they are only tenants.

I concur …

 

[nabeifuckpap]

Best trading platform suggestions all are welcome, the only one I got currently is webull, signed up with a few others but they have many restrictions on what type of stuff you're allowed to trade

 

[True Believer]

I dun think that it is so bad staying in the HDB flats as larger families stay in 4-rooms or 5-rooms apartments .. some people even bought 6-rooms maisonette.
If anyone is not well-heeled own & stay in a 99 years leasehold private condo can cause a huge financial pressure
For low income earners (single or married) can get quite a generous grants in applying bto for 2-rooms or 3-rooms flats
In short .. they are many families & singles lived comfortably & happily in the HDB flats they bought

All private condo units - whether they are on 99 or 999-year leases - possess a strata title, which stipulates the size of each apartment, including its undivided share of the land that the development occupies. Owners of condos may form their own committee to initiate a collective sale to a new developer whenever they wish to. Buyers of HDB units have only purchased a 99-year lease, so this option is not open to them.

 

[True Believer]

That is not the point. People may not have a problem staying in a HDB flat but don't lie to them and tell them they own it. they don't. they are only tenants.

HDB lessees have no possession of any strata titles since they have no ownership of the land where their block is situated on. As such, the HDB is not being fair to their tenants by calculating the land cost when evaluating the price of its apartments.

 

[k1976]

This is why the govt has carved out Holland-Bukit Timah into Tanjong Pagar and Upper Bukit Timah into Jurong GC. They don't want the financially independent to be in one single SMC or GRC as these residents don't depend on and also don't qualify for handouts.

Most Oppie cannot be poor foks , right?

Most poor ah foks are good PAP supporters and cheers when they see cdc vouchers

 

[k1976]

HDB lessees have no possession of any strata titles since they have no ownership of the land where their block is situated on. As such, the HDB is not being fair to their tenants by calculating the land cost when evaluating the price of its apartments.

good sharing
But poor ah foks dun understand wan

 

[True Believer]

Most Oppie cannot be poor foks , right?
Most poor ah foks are good PAP supporters and cheers when they see cdc vouchers

Since 65% voted for the PAP, and there are only 20% who are wealthy, there are many low SES who support the CDC voucher-giver.

 

[True Believer]

good sharing But poor ah foks dun understand wan

Even many of my friends and colleagues who are degree holders, believe that they own their HDB flats. LOL!