How much do you earn a month...

[philiplolc]

Dude, $8k to $10k only cannot retire at 45 lah.....

We live in Singapore leh

For $8k - $10k a year can retire at ,....hmm....72?

 

If now 30 yrs and want to retire at 45, need $50k per month at least, in my opinion (base on family of 4 with above average lifestyle and fully paid property) Of course disputable depending on lifestyle.

 

anyway thats why I still working like a dog ........

haha.. u high maintenance mah.. ex bike, ex car, ex ???.. and need minimum $5m to retire?..

 

$10k is avg. $130k a yr.. that's $1.3M for 10yrs.. think he got $1m can relax liao..

 

somemore he low maintenance, take bus, eat simple, live simple, no lavish lifestyle.. plus some savvy investments in stocks & properties.. there you go..

 

anyway, he planning only, and from wat i see, almost there.. plus forgot to mention he bought some china properties 6 yrs back.. and plan to retire there too..

 

some ppl just good with money..

 

i same boat as you.. look like will be working until i croak..

[Throttle]

anyway, we off topic .....maybe can start another thread to discuss aspirations of retirement..heh heh

[YEN96]

now sporeans gng to extend retirement age to 65 ! omg

[xb84]

Dude, $8k to $10k only cannot retire at 45 lah.....

We live in Singapore leh

For $8k - $10k a year can retire at ,....hmm....72?

 

If now 30 yrs and want to retire at 45, need $50k per month at least, in my opinion (base on family of 4 with above average lifestyle and fully paid property) Of course disputable depending on lifestyle.

 

anyway thats why I still working like a dog ........

 

my friend is retired at age 28.

he used to work as property agent, car agent, broker.

now his rental income and dividend income allows him to acquire more assets.

[marvypower]

now sporeans gng to extend retirement age to 65 ! omg

 

I'll work till I meet my maker..

else very easy to get lao ren chi dai

[Throttle]

my friend is retired at age 28.

he used to work as property agent, car agent, broker.

now his rental income and dividend income allows him to acquire more assets.

 

thats cool....but we are off topic lah...

[arjen]

Yea , perharps somebody can start a new thread on retirement.

 

[chuacheesiong]

just to add my experience. Me got a Nissan March 2 years ago, quite comfortable monthly installment of 500....... but backside itchy after 1 year change to a MX-5. Fun car to drive but installment double, road tax triple, insurance X 4! Enjoy the car though.

 

But in the end cannot tahan the expenses and sold it after 8 months, now just bought an OPC Altis, can you believe the road tax is only 100 each year!

 

Morale of the story is that there would always be temptations out there, have to learn to live within your means............

[Throttle]

It's good that you woke up soon enough.

Or it may have screwed you more.

 

I like the moral, same as mine

[xb84]

just to add my experience. Me got a Nissan March 2 years ago, quite comfortable monthly installment of 500....... but backside itchy after 1 year change to a MX-5. Fun car to drive but installment double, road tax triple, insurance X 4! Enjoy the car though.

 

But in the end cannot tahan the expenses and sold it after 8 months, now just bought an OPC Altis, can you believe the road tax is only 100 each year!

 

Morale of the story is that there would always be temptations out there, have to learn to live within your means............

 

hopefully others here can learn from your lesson, but some choose to repeat the same mistakes themselves.. LOL.

[xb84]

It's good that you woke up soon enough.

Or it may have screwed you more.

 

I like the moral, same as mine

 

living within one's means is not enough..

 

have to live below your means..

[Throttle]

living within one's means is not enough..

 

have to live below your means..

 

understand your stance,but depends on what you mean by "means"

 

anyway, thats why i'm not buying my dream car yet even though i can full cash settle it. I rather be conservative. Now got kid, must even be more frugal

[xb84]

understand your stance,but depends on what you mean by "means"

 

anyway, thats why i'm not buying my dream car yet even though i can full cash settle it. I rather be conservative. Now got kid, must even be more frugal

 

no rush, still got many years to enjoy. now just let the miracle of compounding be at work.

[Throttle]

haha still got many years to slog you mean......

compounding miracle? our cost of living compounds at a faster pace leh

[philiplolc]

and by the time your compound interests kicks in.. your heart might not be able to take a sports car.. haha..

[Throttle]

Can lah, my heart can always take a sportscar...

[xb84]

haha still got many years to slog you mean......

compounding miracle? our cost of living compounds at a faster pace leh

 

i believe u can do better than inflation

[xb84]

and by the time your compound interests kicks in.. your heart might not be able to take a sports car.. haha..

 

you shld look at those 40-50yr olds who still cycle actively, even i young man also cannot catch them when i first joined.

 

if you dont live a healthy lifestyle, even at 20 you are gone.

[Guan_Xi]

What about newly-weds who wanna buy Honda Civic? Considering 20-25% dp, how much is a good household income to be able to afford a new Civic 1.8L?

 

And also, typically, how much do one need to earn to be able to afford a 530i?

 

TIA.

[Throttle]

i believe u can do better than inflation

 

trying trying, always trying... working hard and saving money every month, hope and try to retire by 50

 

The key words here are "hope" and "try"......... sigh.....

[YEN96]

What about newly-weds who wanna buy Honda Civic? Considering 20-25% dp, how much is a good household income to be able to afford a new Civic 1.8L?

 

And also, typically, how much do one need to earn to be able to afford a 530i?

 

TIA.

 

consider newly weds..ur combined income shld be more than 6-7 K....7*0.8= 5.6K take home

5.6K-1.5K ( car installments blah bla petrol ) got 4K left for house blah blah

As such , one car honda civic shld be quite comfortable !

 

530i arh ...wahhaha i think 8K pay a month .."managable la! "haha

the installments alone is already 2K or 2+ ...

[YEN96]

trying trying, always trying... working hard and saving money every month, hope and try to retire by 50

 

The key words here are "hope" and "try"......... sigh.....

 

IF YOU TRY, YOU HAVE A CHANCE, PROBABLY CAN ACHIEVE !

I have this "mentality"

Like exam time , leave blank means confirm "kong cheng " 0 marks

If you try ..at least maybe get a bit "sympathy' or wateva

 

same like jobs.... if i try and apply at least 10% chance !

Never say Never action..never do anything, wait for things to drop from sky

forever dreaming only....never get anything

[Guan_Xi]

consider newly weds..ur combined income shld be more than 6-7 K....7*0.8= 5.6K take home

5.6K-1.5K ( car installments blah bla petrol ) got 4K left for house blah blah

As such , one car honda civic shld be quite comfortable!

Thanks for the calculations. Just quite worried when wifey get pregnant etc... dent in the hsehold income i believe. Always wonder how ppl can afford cars etc. Sigh.

 

530i arh ...wahhaha i think 8K pay a month .."managable la! "haha

the installments alone is already 2K or 2+ ...

Aiyah... no $ ah $2K instalment /month for now. haha.

[BlackDawn]

I've always felt that cars are a huge liability simply because in Singapore, you can never get the full convenience of car ownership, what with the never-ending traffic congestions, ridiculous time wasted in hunting for parking spaces, more & more ERP, inavailability of season parking in many places... blah blah blah...

 

Unless your livelihood depends on being mobile (or you are really loaded), getting a car is just sooooooo not worth it. The slight convenience that is gained can never justify the amount of $$ spent. I can get similar convenience by taking a cab at much lesser cost.

 

IMHO, getting a car just because of a new addition to the family is also a big no-no. A newborn already adds significant financial strain on the family, what more a car... you'd be better off saving the $10k+++/year expenses on the car and investing it for your child's education.

 

Admittedly, I would like to have a car too (to complement my bike), but I doubt I can ever convince myself to get one, unless my current salary increases by at least 3 fold.

 

*these are personal opinions, based on my own family situation:

Married, no kids, combined income ~$7k, 20year mortgage covered by CPF, almost no debt except my bike loan etc...

[Throttle]

 

530i arh ...wahhaha i think 8K pay a month .."managable la! "haha

the installments alone is already 2K or 2+ ...

 

$8k only, confirm not enough .

unless all you own is the car and no other assets.

$8k per month better just stick to Jap car.

that is my most honest advice.