Do online contribution to Medisave and get $88 Ang Bao.

"For those under 65, the Basic Healthcare Sum next year will be S$54,500, up from S$52,000 previously, the authorities said." Sou...

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We need a home but a condo?

Tuesday, December 6, 2016

Hi AK,

I have been reading your blog for sometime & found you to be very smart & prudent. Are you able to give me some advice based on my current situation?
Employment status:
Condo with $650k outstanding loan (mkt value $1M)
Dividend stocks:
I have been trying to do trading with mix success. Had also been doing part-time job to earn about $1k/mth.
Should I try to find another corporate job? ( I really hate it & had been unsuccessful trying for a while)
Thanks in advance!

Hi EW,

Aiyoh. I am just another lazy fellow. Prudent enough but not particularly smart.

At 40, I think you would be financially pretty comfortable if not for the housing loan. ;)

If you were to sell your condo and get a resale HDB 3 room flat, you would probably be debt free and free to do whatever you want without having to go back to the corporate world which you hate!

We need a home but we don't need a condo. :)

Best wishes,

Related posts:
Sell HDB flat to buy a condo.
2. Parents asking me to buy a condo.


Ana said...

Hi AK,
I am in a similar situation as EW. I am in my early 40s, married with a baby. We live in an HDB, and also has a condo which I bought some 10 years ago. the condo is for investment. our combined housing loan is $500k. equity portfolio about $1-2m. My dividend income is about $4k per month.
I dont wish to continue corporate ladder anymore, and want to try out trading for living and am starting with chart learning and demo trading.... so, we are transiting into a single income family.... my husband works, while I would stay at home to try out trading at home for a year.

AK71 said...

Hi Ana,

If that single income is big enough and there is no problem maintaining your family's current financial commitments, then, it becomes a matter of choice. :)

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