what i would do if i am in your shoes. Just saying here, to provoke some thinking. Realise that everyone has different dreams, aspirations, responsibilities, background & preferences.
if i am you:
1. The car. what do you need it for if you are going to retire? Car expense in sg makes a big difference. 1st its 140k COE + Car cost, then its 10 years of car usage expense like parking, maintainence, repairs, fuel, etc etc. Add all these costs up over 10 years. Do you know the difference in networth can come out to be like 500k after 10 years? imagine you took all this money and put it into a US stock index ETF, yield 400% over next 10 years. Yes this difference can change your life. Car would be the 1st thing to ditch.
2. Oh the "use CPF OA on your kids' education" thing. They have to pay back to cpf with interest. Coming back to the car again. Why not use the car expense for their education instead?
3. "Singapore is probably the best place'. I tend to agree with this statement. its not best in the world.... but probably better than 90% of the world, overall. Thing about sg is.... People come here to stay, to make an income. The reason why people here are willing to put up such high living cost here is because they can earn more here. It makes sense. But.... if you retire, assuming you do not make active income. Then it doesnt make sense anymore to pay that high living cost to live here. Sg is a place to make money.
I'm not asking you to follow what i say. Its just some food for thought.
