Middle class Singaporean no more.....Sigh - Page 13

Orchinno · #**181** 28-04-2015, 04:49 PM

Quote:

Originally Posted by MoJoe313

Boss,
Why are you always one step ahead??

Ya, I am frustrated because it's coming out of my reserves, not yield. A$1m gets you only A$30k a year. Friggin all time low interest. I need 3 fully paid condos so that I can depend on the yields alone. And I am not there yet.

As per my first post, you have never been upfront with the forum since your first post. You don't belong to us middle class folks when you have squirrel away 15 years of annual income.

I seriously question you motives for trying to pass of yourself as a middle class person.

larue · #**182** 28-04-2015, 04:50 PM

Individual cap on SSB is likely to be low enough as to be meaningless to anyone with more than a moderate amount available to invest anyway.

MoJoe313 · #**183** 28-04-2015, 05:10 PM

Quote:

Originally Posted by larue

Individual cap on SSB is likely to be low enough as to be meaningless to anyone with more than a moderate amount available to invest anyway.

Yea. That's what I am thinking. But the cap is not known yet. So lets see. It should give 2-3% yield. It will easily ousts FD rates, with more flexibility than FD.

I am in this strange situation where I find it makes more sense to dump cash into SA instead. I will get it back by 55 anyway. Any excess over MS. 4% is good. Triple A financially accredited govt. What's to lose?? What you think?

godsfury · #**184** 28-04-2015, 05:24 PM

Quote:

Originally Posted by MoJoe313

When one is consumed with political inclination, he doesn't even realize how stupid he sounds. "Open eyes look at other countries and don't compare." It's an oxymoron statement.

Ok. Life is horrible! Sux to be u. Soooo horrible.

larue · #**185** 28-04-2015, 05:27 PM

Quote:

Originally Posted by MoJoe313

Yea. That's what I am thinking. But the cap is not known yet. So lets see. It should give 2-3% yield. It will easily ousts FD rates, with more flexibility than FD.

I am in this strange situation where I find it makes more sense to dump cash into SA instead. I will get it back by 55 anyway. Any excess over MS. 4% is good. Triple A financially accredited govt. What's to lose?? What you think?

That probably won't get you your Ferrari! But if you aren't that far off 55, have neither the time, inclination nor risk appetite to explore other financial opportunities, there are many worse things you can do with that money.

Compounding interest, people really need to not just know it's power, but feel it.

sammyboyfor · #**186** 28-04-2015, 05:51 PM

Quote:

Originally Posted by MoJoe313

How did you get 6% on cash?! You locked in aussie FD years ago?

Boss, what you think about the Singapore Savings Bond?

Locked into NZD. Deposit yields have ranged from 5% to 10%.

MoJoe313 · #**187** 28-04-2015, 06:13 PM

Quote:

Originally Posted by larue

That probably won't get you your Ferrari! But if you aren't that far off 55, have neither the time, inclination nor risk appetite to explore other financial opportunities, there are many worse things you can do with that money.

Compounding interest, people really need to not just know it's power, but feel it.

Ferrari?! You kidding me bro. I am just trying to resuscitate my 9 y.o. sedan to fetch my kids to classes and my parents to hospital, and folks here are already complaining how excessive it is.

Ya, I noticed the power of compounding interest. That 4% in SA is damn attractive.....if people bother to look past their political affinity.

MoJoe313 · #**188** 28-04-2015, 06:16 PM

Quote:

Originally Posted by Orchinno

As per my first post, you have never been upfront with the forum since your first post. You don't belong to us middle class folks when you have squirrel away 15 years of annual income.

I seriously question you motives for trying to pass of yourself as a middle class person.

If you think I belong to the upper class, you seriously need to get your head examined.

nickbaston · #**189** 28-04-2015, 06:24 PM

Quote:

Originally Posted by MoJoe313

My old retired parents stay with me. They have no savings. Food, medical bills, expenses, allowances. All borne by wife and me. When you count income per person in my household, it is not alot. No lavish lifestyle....nothing of that sort. I can't kick my kids or parents out....

U are a very nice man.

Your kids and parents are lucky to have you.

MoJoe313 · #**190** 28-04-2015, 06:33 PM

Quote:

Originally Posted by nickbaston

U are a very nice man.

Your kids and parents are lucky to have you.

Thank you bro. I am not doing anything spectacular. Bros like leakypipes, Orchinno, NgengHeng are also taking care of their parents and kids. Maybe it is in our Asian culture to do so

MoJoe313 · #**191** 28-04-2015, 07:04 PM

Wow. Over dinner, my mom told me of a distant relative who just suffered a stroke. He is 41 y.o. His left side paralyzed. This is the 3rd person I know of who suffered a stroke in his early 40s. It is practically game over career wise. Good luck to you if you have insufficient savings and find our cost of living so acceptable.

nickbaston · #**192** 28-04-2015, 07:50 PM

Quote:

Originally Posted by MoJoe313

Wow. Over dinner, my mom told me of a distant relative who just suffered a stroke. He is 41 y.o. His left side paralyzed. This is the 3rd person I know of who suffered a stroke in his early 40s. It is practically game over career wise. Good luck to you if you have insufficient savings and find our cost of living so acceptable.

my friend 49. died in his sleep. No any past illness. Very strong and stuff.

That is life man. His brother no money and still have to prepare his funeral.

We all chip in to settle his last journey. This is life.

DHopper · #**193** 28-04-2015, 08:00 PM

Quote:

Originally Posted by MoJoe313

Help me out bro. I am really trying hard not to be stubborn or to sound proud. Why is it almost everyone assumes it is a situation where "I am managing things poorly"?

If you must know, I have a cash reserve of 15 years. Cold hard cash in the bank. Not unliquidated assets, which is separate. I can go 15 years without income and still carry on this lifestyle. That's alot of zeros. I am not mis-managing. Nor boasting. Just alluding to the point that cost of living is rising very fast. Is it very hard to understand?

Quote:

Originally Posted by sammyboyfor

You are mismanaging if you start spending the principal.

I don't touch my cash reserves. I spend only the yield.

All I can say is, you all very rich

Different people different expectations luh.. this is TS' standard of middle class

sadfa · #**194** 28-04-2015, 08:28 PM

Ts

I agree n sympathise wif you till t part bt 15 yr reserves.

I know many with gd income bt living hand to mouth.
Depending on bonuses to make ends meet.
Little or no reserves. N nt living wild lifestyles.

I know eating off yr reserves nt recommended bt 10 yrs reserves i bet makes you 1% of the population.

N yr in 50s. The older u r, the lesser reserves you need. Dun tell me you need 40 yrs reserves in yr 60s.

I know ppl only pay for 1 kids university education.
N local univ gt loans. Start paying when t kid get job.

So There are many worse off than you.

ludwig19 · #**195** 28-04-2015, 08:50 PM

Haha bro, if you consider yourself middle class, then i'm fucked!
15 years reserve?? Lets see...assuming (just assuming, as you have mentioned that your household per mth is more than 10k) that you're getting a very conservative 4k/mth, thats 48k/year. 15 years reserve will be $720,000.00. IN CASH. Now how many of us bros in here honestly even have half that amount??
If thats middle income, then i have just been demoted to the low income group.