900K cash + cpf, 800K+550K loan, shall I clear my loan first?

[eng81157]

landed property lagi harder to sell to foreigners. watches aside, i would park a portion in equities and bonds and remainder into property. the ratio would definitely depend on your risk appetite.

although there has been much talk about a potential over-supply in the property market, i would have to draw attention to the huge amount of public investments into ramping up transport and healthcare infrastructure. one can guess that we are either critically under-capacity or the govt is building up in prep for more population growth. if the latter, then it sheds a different light on future property prices.

[devilplate]

It really depends on the kind of life when one retires either at the official age or early retirement. $3000-$4000/pax may be enough for now. 20 years later may need double of the above-mentioned amount to enjoy the same lifestyle. Hence, better be safe to achieve at least $15k/month of passive income to financially independent.

ppty passive income shd be able to keep up wif inflation.....

cannot be rental drop 50% and den chicken rice cost $20....hehehe

[eng81157]

ppty passive income shd be able to keep up wif inflation.....

cannot be rental drop 50% and den chicken rice cost $20....hehehe

$20 chicken is a little too much to stomach. even in downtown tokyo, a bowl of maguro donburi averages between $5-7 currently. so, don't think we will ever see the day when a plate of boon tong kee goes for $20 but hey, i ain't no prophet.

having said so, $15k passive income is a little overwhelming to achieve. how many of us have retired parents getting that amount currently? if any, probably a small handful of minority

[chiaberry]

It really depends on the kind of life when one retires either at the official age or early retirement. $3000-$4000/pax may be enough for now. 20 years later may need double of the above-mentioned amount to enjoy the same lifestyle. Hence, better be safe to achieve at least $15k/month of passive income to financially independent.

Bear in mind you might not be in physical capacity to enjoy $15K/month lifestyle in old age. Your stamina for overseas trips declines, your appetite for rich foods also declines and your ability to get in and out of the Lambo with creaky knees and aching back will also decline (as will your eyesight and reflexes to be able to handle the speed - so odd to see old uncle driving a lambo). Not to mention your ability to hang out with mei-meis and toy-boys will also decline.

Impt is to buy the best medical coverage plan NOW while still in good health as the medical bills will be the main expense in old age.

Trust me. I have elderly folks still around.

[chiaberry]

having said so, $15k passive income is a little overwhelming to achieve. how many of us have retired parents getting that amount currently? if any, probably a small handful of minority

No need that amount currently. My parents and in-law don't have anywhere near that amount of passive income and they live very comfortably. Your expectations are too high unless you are a high-flier already and I don't think most of us here are.

[Ilikeu]

[quote=having said so, $15k passive income is a little overwhelming to achieve. how many of us have retired parents getting that amount currently? if any, probably a small handful of minority[/quote]

Wow $15k monthly passive income would mean owning 5 ppty (1 to stay and 4 to rent)... that would mean about $1m x 5 ppty = $5m into ppty.

[devilplate]

Impt is to buy the best medical coverage plan NOW while still in good health as the medical bills will be the main expense in old age.

Trust me. I have elderly folks still around.

i only got the best medishield...LOL

i see those 30major illness package abit useless......when u r able to claim....oredi half dead.....smthing like cancer 4th stage den can claim....lol

[price]

i only got the best medishield...LOL

i see those 30major illness package abit useless......when u r able to claim....oredi half dead.....smthing like cancer 4th stage den can claim....lol

More for ur family lar. but for someone like u, anything happen just choose 1 PC to cash in can foot monthly medical bills!

[teddybear]

Netizens many also say PM should take $100k a year, MPs should take <$2k pm since only work 4 evenings a week, meaning $500 per evening!
Netizens many also complain COEs too expensive, COEs system only favors the rich, must abolish COE!
You see all the above happen?

later netizens complain say y orchard condos so ex....must be affordable to all citizens

ok den impose MOP 10yrs for all orchard rd condos!!!

u better SELL ALL B4 ITS TOO LATE!!!

[chiaberry]

Everyone should get the best Incomeshield or equivalent from the private insurers (the highest plan you can afford). Medishield alone not enuff. Some of the new designer drugs for cancer can cost 5 to 6 K a month and may need to be taken indefinitely. That's at today's price. Some years down the road could be even higher.

Those 30 critical illness type of policies is mainly for yr family (if you already have medical insurance).

If you have no kids then they are not so useful. But you never know, one day you may have kids so the situation may change. The earlier you buy insurance, the more affordable are the premiums. And the conditions of claiming are easier too. Every so often, the insurance industry revises the conditions, so it becomes more and more difficult to claim. Those on the old schemes are bound by the old terms and conditions so are much much better off.

I am not an insurance agent. I made a review of my insurance some years ago so I know something abt it.

[teddybear]

That last time PM pay only $250k per year. You want to go back that last time? First see whether PM pay goes back to $250k per year.
I am not joking, there is a correlation between Orchard condo $PSF price and the earnings of the top 1000 earners.

last time orchard condo at most 1500psf

[price]

Everyone should get the best Incomeshield or equivalent from the private insurers (the highest plan you can afford). Medishield alone not enuff. Some of the new designer drugs for cancer can cost 5 to 6 K a month and may need to be taken indefinitely. That's at today's price. Some years down the road could be even higher.

Those 30 critical illness type of policies is mainly for yr family (if you already have medical insurance).

If you have no kids then they are not so useful. But you never know, one day you may have kids so the situation may change. The earlier you buy insurance, the more affordable are the premiums. And the conditions of claiming are easier too. Every so often, the insurance industry revises the conditions, so it becomes more and more difficult to claim. Those on the old schemes are bound by the old terms and conditions so are much much better off.

I am not an insurance agent. I made a review of my insurance some years ago so I know something abt it.

So are you on term plans mostly? I dislike the idea of mixing insurance with investment.

[devilplate]

Everyone should get the best Incomeshield or equivalent from the private insurers (the highest plan you can afford). Medishield alone not enuff. Some of the new designer drugs for cancer can cost 5 to 6 K a month and may need to be taken indefinitely. That's at today's price. Some years down the road could be even higher.

Those 30 critical illness type of policies is mainly for yr family (if you already have medical insurance).

If you have no kids then they are not so useful. But you never know, one day you may have kids so the situation may change. The earlier you buy insurance, the more affordable are the premiums. And the conditions of claiming are easier too. Every so often, the insurance industry revises the conditions, so it becomes more and more difficult to claim. Those on the old schemes are bound by the old terms and conditions so are much much better off.

I am not an insurance agent. I made a review of my insurance some years ago so I know something abt it.

i kiasu de....pte medishield and add in xtra 2 options

buy ppty take some loan and those intend to keep forever one all buy mortgage insurance.....bestest.....die liao dependents got fully paid hse

other whole life insurance etc all nono one lor....pay so much coverage little bit....only make agt rich nia

[price]

i kiasu de....pte medishield and add in xtra 2 options

buy ppty take some loan and those intend to keep forever one all buy mortgage insurance.....bestest.....die liao dependents got fully paid hse

Which companies offer good value mortgage policies?

[devilplate]

Which companies offer good value mortgage policies?

duno wat u mean by good wor....i nvr claim b4 leh....wakakaka

[price]

duno wat u mean by good wor....i nvr claim b4 leh....wakakaka

Reasonable value premiums lor or are they all pretty much the same $$?

[devilplate]

Reasonable value premiums lor or are they all pretty much the same $$?

duno leh....usually let say i take loan from xxx bank, den i jus take their xxx insurance coy.....wakaka

i believe quite competitive.....

[chiaberry]

Reasonable value premiums lor or are they all pretty much the same $$?

As long as you don't need millions of insurance coverage, the group term plans from AA, SAFRA and the NSmen insurance from Aviva (not sure of the name - but ex-NS men also eligigle) offer reasonable value premiums. However coverage is only until age 60 - 70 (not sure which - go check yourself).

If you have a housing loan, the mortgage protection policy (reducing term) also offers quite good value but the above is the best value as far as I'm aware. Anybody know of better deals, please share.

For MEDICAL plans, I think Incomeshield (from NTUC) is the cheapest but I understand that the other companies have a bit more extras and easier to claim. Sorry I have no experience in claiming either. Like devil said...take the highest private plan with the riders to cover co-payments, excess etc. Cover all your dependants.

Whole life cover - yes it's expensive but if you take it out when young, it will look better value as you get older.

[DC33_2008]

Unless you are thinking of retiring at the official age of 65 years old. I am thinking of retiring once this amount is reached as it is already below active monthly income. With money, we can go on private tour with private limo and private tour guide. Wake anytime and go anywhere in the country of visit. However, this amount is too fall short of such quality of tour.

Bear in mind you might not be in physical capacity to enjoy $15K/month lifestyle in old age. Your stamina for overseas trips declines, your appetite for rich foods also declines and your ability to get in and out of the Lambo with creaky knees and aching back will also decline (as will your eyesight and reflexes to be able to handle the speed - so odd to see old uncle driving a lambo). Not to mention your ability to hang out with mei-meis and toy-boys will also decline.

Impt is to buy the best medical coverage plan NOW while still in good health as the medical bills will be the main expense in old age.

Trust me. I have elderly folks still around.

[DC33_2008]

$15k of passive is not impossible. I am sure there are people here who are earning more than this. As I have said, our parents may not need so much now but really not sure in the future.

No need that amount currently. My parents and in-law don't have anywhere near that amount of passive income and they live very comfortably. Your expectations are too high unless you are a high-flier already and I don't think most of us here are.

[hyenergix]

As long as you don't need millions of insurance coverage, the group term plans from AA, SAFRA and the NSmen insurance from Aviva (not sure of the name - but ex-NS men also eligigle) offer reasonable value premiums. However coverage is only until age 60 - 70 (not sure which - go check yourself).

If you have a housing loan, the mortgage protection policy (reducing term) also offers quite good value but the above is the best value as far as I'm aware. Anybody know of better deals, please share.

For MEDICAL plans, I think Incomeshield (from NTUC) is the cheapest but I understand that the other companies have a bit more extras and easier to claim. Sorry I have no experience in claiming either. Like devil said...take the highest private plan with the riders to cover co-payments, excess etc. Cover all your dependants.

Whole life cover - yes it's expensive but if you take it out when young, it will look better value as you get older.

You sound like you are from some defence organisation, as your knowledge of insurances from these organisations are quite good.

[lucky new new]

wow, im away from SG for 2 weeks, my thread went to page 3 liao! I like this forum!

I decided to wait first. Consult all the gurus here for FD - shall I go for Maybank or FairPrice Plus???

Best Singapore Bank Deposit Rates (updated 4 March 2012)

Recommended Savings Accounts (no lock-in period) :

Less than S$5,000 = 0.1875% p.a. (Maybank iSAVvy) No minimum monthly balance to maintain
More than S$5,000 to below S$50,000 = 0.30% p.a. (Maybank iSAVvy) No minimum monthly balance to maintain
Less than S$50,000 = 0.10% p.a. (Standard Chartered Bank e$aver) No minimum monthly balance to maintain
S$50,000 to S$199,999 = 0.15% p.a. (Standard Chartered Bank e$aver) No minimum monthly balance to maintain
First S$50,000 = 0.20% p.a. (FairPrice Plus Savings Account) No minimum monthly balance to maintain

More than S$50,000 = 0.38% p.a. (Maybank iSAVvy) (Interest-on-interest every 6 months 6.00% for average monthly balances of at least S$5,000)
More than S$50,000 = 0.40% p.a. (FairPrice Plus Savings Account) (Subject to maximum deposit of S$500,000)

S$200,000 and above = 0.25% p.a. (Standard Chartered Bank e$aver)

[devilplate]

i lock in abit on 1.48% 18mths FD from maybank 12mths i tink 1.18%

very pathetic i noe.....but i am paying less den tat for my mortgages and can even lock in 1.38% for 3yrs!!

wakakaka

[lucky new new]

i lock in abit on 1.48% 18mths FD from maybank 12mths i tink 1.18%

very pathetic i noe.....but i am paying less den tat for my mortgages and can even lock in 1.38% for 3yrs!!

wakakaka

bro, you are so helpful and resourceful!

I called maybank, they propose a product to lock 24mth, not 18mths... they ask me to split into 2 - one for 24mth locking, one for iSAVvy. good?

now everywhere so hot. have to be patient right? wait for 2 years??

[lucky new new]

how about this formula for your cash?

25% fixed deposit
25% fund/trust
50% stock

0% property at this moment...

[price]

wow, im away from SG for 2 weeks, my thread went to page 3 liao! I like this forum!

I decided to wait first. Consult all the gurus here for FD - shall I go for Maybank or FairPrice Plus???

Best Singapore Bank Deposit Rates (updated 4 March 2012)

Recommended Savings Accounts (no lock-in period) :

Less than S$5,000 = 0.1875% p.a. (Maybank iSAVvy) No minimum monthly balance to maintain
More than S$5,000 to below S$50,000 = 0.30% p.a. (Maybank iSAVvy) No minimum monthly balance to maintain
Less than S$50,000 = 0.10% p.a. (Standard Chartered Bank e$aver) No minimum monthly balance to maintain
S$50,000 to S$199,999 = 0.15% p.a. (Standard Chartered Bank e$aver) No minimum monthly balance to maintain
First S$50,000 = 0.20% p.a. (FairPrice Plus Savings Account) No minimum monthly balance to maintain

More than S$50,000 = 0.38% p.a. (Maybank iSAVvy) (Interest-on-interest every 6 months 6.00% for average monthly balances of at least S$5,000)
More than S$50,000 = 0.40% p.a. (FairPrice Plus Savings Account) (Subject to maximum deposit of S$500,000)

S$200,000 and above = 0.25% p.a. (Standard Chartered Bank e$aver)

ALL THE ABOVE LOSE to CIMB 0.8%p.a. compounded daily Starsaver (Normal Savings / Current Account)

No min balance, no fall below fee, no restrictions etc. Free unlimited cheque books (not just the first)

[price]

i lock in abit on 1.48% 18mths FD from maybank 12mths i tink 1.18%

very pathetic i noe.....but i am paying less den tat for my mortgages and can even lock in 1.38% for 3yrs!!

wakakaka

2 years got 1.65% liao ma? ICIC

[radha08]

i don't know how to fully utilize the cash... the property is getting higher and higher, i just can't commite to buy another one.... and i don't know when will the real firesales come... so thinking if i payoff my current property, i will have peace of mind...

luckily i found this forum, and so many gurus here

welcome to this wonderful forum..yes many GURUS around also a FEW GOONDUS...

[radha08]

wow, im away from SG for 2 weeks, my thread went to page 3 liao! I like this forum!

normal bro this forum got a lot of Rich and free people...so can give u advice and TCSS....

[radha08]

wow, im away from SG for 2 weeks, my thread went to page 3 liao! I like this forum!

even if u come back in 2 years we all still be here...but Hmmmmm...what will
property prices be like THEN...thats the MILLION $$ question