Jump to content

Do You Want To Retire Before 60 ?

Maxus-MIFA9

By Maxus-MIFA9,
in Investment & Financial Matters

 Share

Recommended Posts

Ginyu

Ginyu

5th Gear

Wonder how many continue to work after 55 to build up more funds or continue to service their mortgage. I know some are about halfway to the end of their loan tenure. Quite surprised that they still have to work pass 60 to clear off the mortgage. Tot they are rich can afford to buy then why cannot clear it by 55🤣

Link to post
Share on other sites
13177

13177

Hypersonic
On 1/7/2025 at 1:28 PM, Ginyu said:

Wonder how many continue to work after 55 to build up more funds or continue to service their mortgage. I know some are about halfway to the end of their loan tenure. Quite surprised that they still have to work pass 60 to clear off the mortgage. Tot they are rich can afford to buy then why cannot clear it by 55🤣

Cause mostly people max out the loan tenure until 65 year old which it is allowed for most cases lo. Esp if buy house in recent years, price so ex, how to finish paying the mortgage loan before 60?! Only last last time when house price is cheap, can full pay the house very fast and at a younger age.

  • Praise 1
Link to post
Share on other sites
Throttle2

Throttle2

Supersonic
On 1/7/2025 at 9:55 AM, Wt_know said:

but ah gong says ... if can work, go to work ... 

else sit at home gong gong can go crazy one ...

no 69 no talk !

:grin:

2025-01-07_095609.jpg

This actually tells a lot.....

Good Luck Singapore Good Luck

 

 

Link to post
Share on other sites
Throttle2

Throttle2

Supersonic

There is a very very very good reason why CPF withdrawal was set at 55 long long long long time ago.

The way things are going, I believe CPF withdrawal age will be raise to 60 soon enough.   

Good Luck Singapore Good Luck

 

Link to post
Share on other sites
Ginyu

Ginyu

5th Gear
On 1/7/2025 at 1:49 PM, 13177 said:

Cause mostly people max out the loan tenure until 65 year old which it is allowed for most cases lo. Esp if buy house in recent years, price so ex, how to finish paying the mortgage loan before 60?! Only last last time when house price is cheap, can full pay the house very fast and at a younger age.

More like they overstretch themselves. Not satisfy with bto but want to haolian so go buy condo. If bto , they would have finish paying it off much much earlier🤣

  • Praise 1
Link to post
Share on other sites
flat6

flat6

3rd Gear
On 1/7/2025 at 1:28 PM, Ginyu said:

Wonder how many continue to work after 55 to build up more funds or continue to service their mortgage. I know some are about halfway to the end of their loan tenure. Quite surprised that they still have to work pass 60 to clear off the mortgage. Tot they are rich can afford to buy then why cannot clear it by 55🤣

We have a 7 figure outstanding home loan, another mortgage on our property in London as well as a loan on one of our cars.

I am fully retired by choice and yes, we sleep soundly at night.

  • Praise 4
Link to post
Share on other sites
Throttle2

Throttle2

Supersonic
(edited)
On 1/7/2025 at 2:18 PM, flat6 said:

We have a 7 figure outstanding home loan, another mortgage on our property in London as well as a loan on one of our cars.

I am fully retired by choice and yes, we sleep soundly at night.

Got inflow (or support) from somewhere lor.....otherwise how to sleep soundly leh?

Edited by Throttle2
  • Haha! 1
Link to post
Share on other sites
flat6

flat6

3rd Gear
(edited)
On 1/7/2025 at 2:29 PM, Throttle2 said:

Got inflow (or support) from somewhere lor.....otherwise how to sleep soundly leh?

We are self made, started from scratch.

Point i am making is those with loans are not necessarily failures. Not right to treat everyone with loans with contempt and ridicule.

Edited by flat6
  • Praise 4
Link to post
Share on other sites
Throttle2

Throttle2

Supersonic
(edited)
On 1/7/2025 at 3:03 PM, flat6 said:

We are self made, started from scratch.

Point i am making is those with loans are not necessarily failures. Not right to treat everyone with loans with contempt and ridicule.

Good for you.   

Nobody ever said that those with loans are necessarily failures.  

No need to feel like you are being treated with contempt and ridicule becos you have a loan, leh.

@Ginyu is MCF public enemy no. 1   He always like that.  Muayhahhahhahh   

 

57 Tiong Bahru Points

 

 

 

Edited by Throttle2
  • Haha! 3
Link to post
Share on other sites
RadX

RadX

Moderator
On 1/7/2025 at 3:22 PM, Throttle2 said:

Good for you.   

Nobody ever said that those with loans are necessarily failures.  

No need to feel like you are being treated with contempt and ridicule becos you have a loan, leh.

@Ginyu is MCF public enemy no. 1   He always like that.  Muayhahhahhahh   

 

57 Tiong Bahru Points

 

 

 

Doesn’t matter… u will always be the one!

70B91FC1-E55D-4A6A-BD36-445E8B2936CF.gif

  • Haha! 3
Link to post
Share on other sites
flat6

flat6

3rd Gear
On 1/7/2025 at 3:22 PM, Throttle2 said:

Good for you.   

Nobody ever said that those with loans are necessarily failures.  

No need to feel like you are being treated with contempt and ridicule becos you have a loan, leh.

@Ginyu is MCF public enemy no. 1   He always like that.  Muayhahhahhahh   

 

57 Tiong Bahru Points

 

 

 

Nah, not for myself. We are well aware of our standing in society.

  • Praise 2
  • Haha! 1
Link to post
Share on other sites
Ginyu

Ginyu

5th Gear
On 1/7/2025 at 3:03 PM, flat6 said:

We are self made, started from scratch.

Point i am making is those with loans are not necessarily failures. Not right to treat everyone with loans with contempt and ridicule.

Referring to those who need a job to clear their overstretched loan even at a mature age. If one can still retire with outstanding obviously don’t fall into that category🤣

  • Haha! 1
Link to post
Share on other sites
13177

13177

Hypersonic
(edited)
On 1/7/2025 at 2:14 PM, Ginyu said:

More like they overstretch themselves. Not satisfy with bto but want to haolian so go buy condo. If bto , they would have finish paying it off much much earlier🤣

Depends hor, if they buy brand new BTO, surely should finish paying off, esp with dual income. But if go buy resale BTO, esp those millions HDB, how to finish paying it off early even with dual income? Lol.

But if really cannot finish paying off early and don't want to pay anymore, can jolly downgrade to a smaller HDB and full paid it lo.

Edited by 13177
  • Shocked 1
Link to post
Share on other sites
Throttle2

Throttle2

Supersonic
On 1/7/2025 at 4:20 PM, 13177 said:

Depends hor, if they buy brand new BTO, surely should finish paying off, esp with dual income. But if go buy resale BTO, esp those millions HDB, how to finish paying it off early even with dual income? Lol.

But if really cannot finish paying off early and don't want to pay anymore, can jolly downgrade to a smaller HDB and full paid it lo.

Hai, people always say, if cannot pay off or dont want to pay, can always downgrade...

I wish them good luck base on such mentality.

All the best huat ah!

  • Haha! 1
Link to post
Share on other sites
Ginyu

Ginyu

5th Gear
(edited)
On 1/7/2025 at 4:34 PM, Throttle2 said:

Hai, people always say, if cannot pay off or dont want to pay, can always downgrade...

I wish them good luck base on such mentality.

All the best huat ah!

Ever read one say he has outstanding loan of 1.5mil and he never plan to pay it off. The exit plan is just sell it off and move on to next property with another new loan. Maybe seller stamp duty should extend to 10 years🤣

Edited by Ginyu
↡ Advertisement
  • Haha! 1
Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share
Go to topic listing
×
×
  • Create New...