When you finally realise you are aging in a place like Singapore
I’m 39, earning only $4500 a month and have less than $40k in my bank account. I am also unmarried.
I don’t know if I will be married , and resale hdb is now totally out of my reach (started looking 2 years ago and the now regret of being picky is very very painful).
Living expenses is unlikely to go down. Hdb prices is unlikely to go down . My salary is unlikely to go up.
Am I screwed? And I’ll be 40 before I realise it .
- i’m in ur age range and earning way lesser than u. if u’re fked, i’m dead.
- Damn, all of us are dead
- Ur CPF can easily get you a 2 rm bto with grant.Not even paying a single cent cash and you dun even need home loan.PPVC 2rm bto also comes with full floor finishes, internal doors and sanitary fittings.
- You’ve been working for what, close to 20 years now? Assuming you didn’t start off at 4500, you have probably what, 2-300k ++ in your cpf, of which at least 60% is OA. So you’ve got in the region of 150k in cpf OA.
Why are you screwed? You can buy a 2 room bto with your cpf and savings like, tomorrow, no need to take loan (location dependent of course).
You prefer better location, then can buy resale but need to take a loan, but you should have no problem paying it off.
- i’m 35, single, saved up for resale hdb but will wipe out my savings for the dp + reno + furnish. jealous at BTO lottery for the married folks ha..
- Your savings rate seem extremely low for someone at 39 with your pay and amount of time to save since you started work.
Also, there’s no need to get resale hdb when BTO options for singles are available. Especially being able to tap on CPF and not cash outlay. Staying in a convenient area is a want not a need.
The hard truth is you cannot afford to picky now because of the spending /lack of saving decisions you made in the past. This would have impacted you wherever you are, not just Singapore.
Nonetheless hope if you calibrate your mindset and start saving up (and investing safely) you can reap the rewards in due time.
- Keep the faith bro and try to find more social outlets to meet ladies who are seeking to settle down too. I was in a similar situation back when I was 37, and back then I dated and met a lady from a Facebook dating app called Zingle. Fast forward 11yrs, I’m married with a 9yr old kid.
Love can happen, but you gotta go out to meet them as much as possible.