Open for discussion

[SchoolB]

Hi all,

Need some advices on my current status:

Male 38 yrs old, married with a 3 years old boy. Currently unemployed, wife is working.

House fully paid.
Combined CPF (both me and my wife):
OA ~ $170k (refunded cash into OA for my housing)
SA ~ $340k (both me and my wife hit the minimum sum of $166k each)
Cash ~ $370 (HSBC premier and OCBC, cash out of stocks/investments this year)
Car fully paid (Jap car, COE due next year)
Have an endowment plan, maturing in 10 years time, estimated $170k (25 year premium paying plan, left another 10 more years)

Am feeling pretty contented yet at the same time feel that I can achieve more, not only in term of money. Let's discuss!

 

[BBCWatcher]

Cash ~ $370 (HSBC premier and OCBC, cash out of stocks/investments this year)

I assume you meant $370K.

So why did you exit stock investments, and within such a short time period? You're age 38. Do you need that cash to fund expensive, immediate medical treatment or some other calamity?

Maybe we could quibble about whether the endowment plan is/was a good idea, but I really don't understand why you suddenly woke up and decided to exit stock investments, completely and quickly.

 

[revhappy]

Money in CPF is imaginary, until you get your hands to it.

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[BBCWatcher]

Money in CPF is imaginary, until you get your hands to it.

No, I disagree. There are many, many forms of wealth that are restricted in certain ways. As one example, a Harvard degree is, at the end of the day, just your name on a list (and with a parchment representation of your entry on that list). It's not a consumption good. You can't sell a Harvard degree -- it's yours (if earned), not anybody else's. You can never "get your hands on it." But it has a lot of (labor) market value, and that market value is quite real.

You include CPF assets in your household accounting, in the ways those assets can be tapped now and in the future.

The original poster has not mentioned Medisave balances, and that's an important omission.

 

[SchoolB]

I assume you meant $370K.

So why did you exit stock investments, and within such a short time period? You're age 38. Do you need that cash to fund expensive, immediate medical treatment or some other calamity?

Maybe we could quibble about whether the endowment plan is/was a good idea, but I really don't understand why you suddenly woke up and decided to exit stock investments, completely and quickly.

I was actually looking to cash out to get a 2nd property in the near future.

 

[SchoolB]

I have refunded the cash into our OA with the intention of using them to fund the next property.

 

[dendii]

No insurance protection?

I wont classify endowment as an insurance.

Hi all,

Need some advices on my current status:

Male 38 yrs old, married with a 3 years old boy. Currently unemployed, wife is working.

House fully paid.
Combined CPF (both me and my wife):
OA ~ $170k (refunded cash into OA for my housing)
SA ~ $340k (both me and my wife hit the minimum sum of $166k each)
Cash ~ $370 (HSBC premier and OCBC, cash out of stocks/investments this year)
Car fully paid (Jap car, COE due next year)
Have an endowment plan, maturing in 10 years time, estimated $170k (25 year premium paying plan, left another 10 more years)

Am feeling pretty contented yet at the same time feel that I can achieve more, not only in term of money. Let's discuss!

 

[existential_reality]

Hrmm do you intend to find work?

Not sure if your current savings is sufficient for more than 10 years but then again varies on your monthly expenses.

Hi all,

Need some advices on my current status:

Male 38 yrs old, married with a 3 years old boy. Currently unemployed, wife is working.

House fully paid.
Combined CPF (both me and my wife):
OA ~ $170k (refunded cash into OA for my housing)
SA ~ $340k (both me and my wife hit the minimum sum of $166k each)
Cash ~ $370 (HSBC premier and OCBC, cash out of stocks/investments this year)
Car fully paid (Jap car, COE due next year)
Have an endowment plan, maturing in 10 years time, estimated $170k (25 year premium paying plan, left another 10 more years)

Am feeling pretty contented yet at the same time feel that I can achieve more, not only in term of money. Let's discuss!