Retirement costs that are most likely to blindside you
Retirement costs are harder to predict than most of us imagine. Blame that on “coffee and eggs” planning, where we tend to create modest lists like $2 breakfasts, and little beyond three meals a day and an occasional $50 splurge. In reality, it’s possible to end up spending more during our retirement than during our […]
How to split expenses when you’re richer than your partner
A potential issue faced by many single-digit millionaires is a less affluent partner. Whether in wealth or income, it’s plausible that your partner will take time to catch up to you financially (or in some cases, are unlikely to ever do so). How then, are expenses to be split in such a situation? There’s no […]
Why do some single-digit millionaires avoid paying off their mortgage?
Home loans, mortgages, HDB loans…whatever you call them, you hear a groan. Many Singaporeans, even single-digit millionaires, find this to be the bane of their existence: a money-devouring monster that they may need to feed for 25 years or more. This week however, I met a few people who could in fact pay off their […]
Four big problems with an interest-only retirement strategy
For single-digit millionaires, one of the most widely advised retirement strategies is the “interest-only” approach. The concept is simple enough: you only spend the interest (or the returns) on your various bonds or savings deposits – you never actually diminish the principal that earns the interest. As always though, the devil is in the details: […]
The real reason single-digit millionaires prefer private property
With private home prices at a high in 2023, a common question is why anyone still bothers to upgrade. With new launch condos priced at well over $2,000 psf, and resale condos also rising, it begs the question: wouldn’t we be better off sticking to our flat, and investing the money elsewhere? While some single-digit […]
Going on my own solo travel tour…at age 62
Many of us have dreamed of fantasy getaways, or months-long tours around the world. This week, we met someone who struggled financially in her youth; but who was indeed a single-digit millionaire today. The downside? She was already near retirement by the time her finances turned around. The upside? She’s still energetic and healthy enough […]
How much can you afford to borrow for your home?
A common aspiration among Singaporeans is to upgrade to a private property; or to go from a condo to a landed home. In these instances, a common question is “How much can I afford to borrow?” There are two answers to this question: the first covers the actual financing limits, put in place by the […]
Surviving an online love scam
There’s a certain level of victim-blaming and prejudice when it comes to online love scams. But with these scams costing us $33.1 million as recently as 2020, and still on the rise, we can surmise it’s not just the “gullible and uneducated” who get caught. Scammers are getting more sophisticated every year, and are becoming […]