How much is enough for retirement in Singapore?
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pirated:
But wouldn't this be like \"Show Hand\", a great gamble ? when it's going to be a hand-to-mouth issue?superduper:
Would any average parents sell their flat and use up all their limited financial resources in order to fund their child for an overseas university education in medicine?
Have -
superduper:
Would any average parents sell their flat and use up all their limited financial resources in order to fund their child for an overseas university education in medicine?
Then where are the parents going to live n eat? -
zbear:
End up renting?superduper:
Would any average parents sell their flat and use up all their limited financial resources in order to fund their child for an overseas university education in medicine?
Then where are the parents going to live n eat?
But MOH got provide grant for doing overseas med school. -
If they are not too old, probably they want to continue to work and if lucky can rebuild their finances again…
Things that some parents willing to do for their children are amazing… -
zbear:
if you have spare cash it means you are not commiting to this goal. if you are not committed then how do you build up such a VAST amount since it is likely going to cost more than your primary dwelling?starlight1968sg:
my concern abt investing in a private property is it is illiquid and not that easy to change to cash when urgently required.
Safest is to have spare cash to invest in properties, otherwise, it is very risky. -
If only child, maybe.
Else, if you give one $500K, you must be prepared to give your 2nd or 3rd one $500K each too.
Either they get a scholarship or just study in local U lah. I rather invest in private properties. -
to have a second property for investment, you cannot get a HDB, so it is likely a non landed private. if we eliminate the very problematic shoe box, the smallest is a 2RM condo. this will be $800-$1 mil. for down payment at 50%, that comes up to $400-$500k. to accumulate that amount you will need $40-$50k per year after purchasing the dwelling.
to me the cost is high. note taht i may be wrong on the downpayment for the second property -
lee_yl:
Children are not public propertiesIf only child, maybe.
Else, if you give one $500K, you must be prepared to give your 2nd or 3rd one $500K each too.
Either they get a scholarship or just study in local U lah. I rather invest in private properties. -
MrsKiasu:
Indeed amazing! But it can also turn up catastrophic...increased funds deficit and stressed out living from hand to mouth each day; is it sustenable for the long time...high risksIf they are not too old, probably they want to continue to work and if lucky can rebuild their finances again..
Things that some parents willing to do for their children are amazing.. -
lee_yl:
If only child, maybe.
Else, if you give one $500K, you must be prepared to give your 2nd or 3rd one $500K each too.
Either they get a scholarship or just study in local U lah. I rather invest in private properties.
Agreeable that if one child only, can still take the \"Show Hand\" route, but if more, than the question of fairness comes in again...sigh
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