She Has $2.04m But Can't Retire... | Real Retirement Planning Case Study In Singapore
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- เผยแพร่เมื่อ 22 พ.ค. 2024
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Today we've a fantastic case to discuss regarding housing, wealth building and retirement planning.
0:00 Introduction
Breakdown of assets
1:16 Property
Mortgage locked in at 2.45%pa
5:20 How to deploy cash
7:06 Sell HDB
8:59 No solution
9:43 Insurance
10:42 $2,800 cash only
11:43 University fees cost alot
12:22 Her CPF
#retirement #retire #retirementplanning #financialplanning #financialadvisor
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Josh holds a degree in Accounting from NTU. In 2016, he co-founded the financial education website TheAstuteParent to provide detailed insurance plan analysis and financial planning tips.
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Yes, let’s the next generation takes care themselves. I agree totally. ✅
Agree.
But actually when the subject passed on, the kids will still inherit the fortune.
So it might be good that the subject to put in place the right investments for her kids. e.g. top up their cpf especially if the kids may not be matured enough to handle the inheritance then.
Great detailed breakdown
Thanks THC
Many people accumulate millions in physical asset and collectibles but can't liquidate them into cash to retire. And to liquidate them back into cash took a long time and effort. And geographically countries can cause people unable to retire are Hong Kong, Singapore, USA, Europe. These are countries who have high cost of living. People can opt for Malaysia the best country to retire who have everything available and low cost of living, house, food, travel, healthcare etc....
oversea properties if have just keep quiet,cos our government dont kmow unless u delcare
Thanks for sharing this case study.
Impressed with her multiple properties portfolios.
And low cash while placing her emergency funds in SSB and t bill.
Curious, why suggest her to sell her properties?
Why keep all the properties and continue to collect rent for her retirement?
She needs to sell for family reasons
I was thinking you can share on inheritance. This will be very helpful
If you do not give them at the start, you will need to give at some stage, unless you going to donate 100%.
Great question. Im not sure myself as my kids are still v young but yes Ive to think abit more on giving. Maybe Id research for different perspectives and share soon
@@joshconsultancy thanks! Perhaps to incentives them, rather then to give them hard cash.
$2m less home = $1.5m in various avenue that tricky that needs advisory. ("All over the place" investment make a great case to discuss). My personal opinion is if the complications are being ironed out by 55, cannot spend more than $3K pm if wishes to retire.
Valid point
Don’t think you should pay off the condo.. should use FD or very safe IG bond to hedge against the mortgage interest rate and earn the spread.
Hedge may not be perfect. T-bill 4% and after u locked in, mortgage rate can continue to climb
@@joshconsultancy true… in most circumstances, FD rate and mortgage rate are close. She just need to actively manage her loan. We just have to hope that interest rate do not stay high forever.
@@ChrisTang787 based on the story, the subject is very financially savvy. She knows how to maximize and safeguard her fund :)
Why is everyone so impressed with CPF interest rates, from base of 2.5% stepping up to 6% but only for limited sum. But of course, based on choices available here, before the recent run up, they are seemingly the better rates, or even best one! What I cannot comprehend is this. For a country less renowned for competence, Msia pays 6% for their EPF, their equivalent of our CPF. Are their investments more successful than ours?
Note - CPFoa does not step up to 6%.
Secondly, Malaysian EPF pays a higher interest as they are developing nation risk status. Similar to indo for example in borrow cost. Not that they generate more from investments. Hope it clarifies
There is a waiting time of 18 or 30 months for overseas property wait before she can get a new BTO, if I am not wrong . So she better keep her current HDB flat, while disposing her other properties
Theres a 15mth period now anyway from sg condo disposal
She sure sounds financially savy. I should believe she already knows what she wants to do and just seeking a 2nd opinion for peace of mind. She doesnt need advise honestly. If she is good in property investing, then just stick to it. Seldom you have people that is good in all avenues of investment.
I think top up kids CPF is not the issue for them as we know CPF only able withdraw after age 55.
Hi chongseng, agree. Id still prefer to give them money they could turn into more money OR lose it. That hones financial skills more imo
Hi Josh, Just wanted to say retiring is not always about the money but i think a big part of it is feeling useful. I'm 61 totally debt free, between me and my wife we owned a 5rm condo, had abt 2.5mio cash ( Fd and t-bills only because we old school) ex cpf. We believe we can retire and will be Ok if we downgrade to a 3 or 4rm HDB. Son is working & financially independent and we are pretty frugal. But I keep hesitating because we are not sure how we can spent our time. This is the dilemma I'm facing. Any advise?
Hi, As in you hesitate to retire? If you’re happy at work and it gives you the identity, it is ok to keep working. Maybe one day when there’s a different role like grandpa or something then i guess it will be natural to leave work :)
From studies, many are unprepared with retirement when they have time. Consciously think what you could do in future while still employed now. I wish you the best
I do agree to the fact its really not just about money but ways of life to be meaningful but I don't see much channels explain what people spend their time and enjoy at their older ages (especially alone) but all about invest and making money.
Those have above million, can considered as one of the 20 over % of Sporean, is it right ? That must be one of the riches already.
We see for learning points? Not really if rich or not or whether their concerns are valid or not
I thought you cannot own overseas investment properties if you own a HDB flat? Or has that rule changed....
You’d need to own the hdb first. But if you’re buying a hdb now, then ya you cannot own foreign property. (In my knowledge)
Possibly via "complex structures"?
This is a good case study.
Bbq 了
@@joshconsultancy She also cannot own the private property (Singapore), if she intends to dispose the HDB and buy another HDB..
@@menzgohagree. Mentioned in 8m17
2 room CCR 1.5mil?.
700sqf x 1900psf? idk...
Her portfolio lacks two of the most basic and safe assets, Singapore stocks & Reits and U.S. stocks & ETF.
Not necessarily could be in the mid- long term investment.
I guess that is the SRS where you put for tax savings and buy stocks and withdraw only from 62 onwards. Hence, it's mid- long-term investment.
So it is a liability until it becomes CASH .
Loans are liabilities.
Singaporeans obsession with properties
Its been a good 17year run we cant deny =)
@@joshconsultancy
Not easy for her to accumulate 2 investment properties which have a positive cashflow.
Master of Robert kiyosi's rich dad poor dad investment strategy, well executed
Too many people ignore the delta risk in properties. Lost decades happen frequently for properties if you look at the chart. And certainly the stress level of chaining yourself to a job because of the properties is multiplied.
Still a reliable way for generational wealth. Good paying jobs are far and between.
Haha singaporeans. Rich yet poor.
$2 mil sgd is like $7.5 mil ringgit. With that money, that’s a king’s lifestyle in KL.
2m sgd is not much.
If i had only $2.04mil , i also cant retire 😅😅
You may have inflated lifestyle 😅
@@joshconsultancyyes but its a choice and option that i can have…… 😊😊
Last time got some ads by property Guru by the name "Mxxxx and friends" saying even poor people can own multiple properties, now never see such ads anymore. When time is good, every goondo will be gurus, only when in bad times then all these goondos really became goondos.
Hey whis hows things =)
Im still seeing their ads.... =(