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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:
Unemployed
 
Age:
40
 
Housing:
Condo with $650k outstanding loan (mkt value $1M)
 
CPF OA:
$400k
 
CPF SA:
$100k
 
Dividend stocks:
$50k
 
Cash:
$150k
 
Expenses:
$20k/yr
 
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!
EW


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,
AK


Related posts:
1.
Sell HDB flat to buy a condo.
2. Parents asking me to buy a condo.

 
 
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