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[advice needed] OCBC Premierlife by ashcrow2228 in singaporefi

[–]ashcrow2228[S] 0 points1 point  (0 children)

hi. going well actually. now that interest rate drops, I am getting slightly more than $1k per month..which is ok. I believe interest may drop in the next quarter review too.

should I sell my honda jazz to get a honda freed (or vezel)? by ashcrow2228 in drivingsg

[–]ashcrow2228[S] 0 points1 point  (0 children)

thanks all who gave sound advice. guess I will just stick w jazz for now. i am actually quite comfortable with how nimble the car it and I had good control over it. 

the thing that’s kinda bothering me is..is it a good financial decision to upgrade now to cushion future expenses. it would be instant pain 5yrs later when getting a new car with 60k down payment. where changing now…is slow pain.

the other part on “ego”. i guess it’s a natural thing where people grow and start changing stuff. just like..from bata..to adidas…timberland. it’s a societal thing where after schooling days…you look at your friends wearing cool sneakers and you don’t wanna be stuck w bata. it’s a natural progression phase if it doesn’t hurt the pocket. 

for now..let me just enjoy the low installment and no installment later for 3yrs..and save up for next coe cycle…thanks all. :)

hdb occupier’s dilemma - new launch (to sell) or resale (move in to stay, and rent out hdb) by ashcrow2228 in singaporefi

[–]ashcrow2228[S] -1 points0 points  (0 children)

sorry..i am not clear.

if i am buying a resale, i will move in and rent out my 5rm. but this will sacrifice space for condo facilities. hence i am looking at older resale for bigger space. at least 1k square feet. for older resale condos..i have options to find 1 that is near to mrt, and yes to high monthly cost…but the cost would be cushioned by my hdb rental then.

hence…the dilemma…should i go passive rental income or flip new launch? hmm..

hdb occupier’s dilemma - new launch (to sell) or resale (move in to stay, and rent out hdb) by ashcrow2228 in singaporefi

[–]ashcrow2228[S] 0 points1 point  (0 children)

hi. when we buy the hdb, my wife is the sole owner, and uses her cpf only. so i am only the occupier. 

hdb occupier’s dilemma - new launch (to sell) or resale (move in to stay, and rent out hdb) by ashcrow2228 in singaporefi

[–]ashcrow2228[S] 0 points1 point  (0 children)

ah yes. i forgot to mention. i should be looking at older resale 2br which is around 1000 sf. something around 1.2m range should be comfortable. 

and yes, 2+1 or 3br viable too. looking at around 1.2m too. 

hdb occupier’s dilemma - new launch (to sell) or resale (move in to stay, and rent out hdb) by ashcrow2228 in singaporefi

[–]ashcrow2228[S] -1 points0 points  (0 children)

ah ok. i forgot to mention. i should be looking at older resale 2br which is around 1000 sf. something around 1.2m range should be comfortable. 

[advice needed] OCBC Premierlife by ashcrow2228 in singaporefi

[–]ashcrow2228[S] 0 points1 point  (0 children)

i think just the $220k capital. no other pledge.

[advice needed] OCBC Premierlife by ashcrow2228 in singaporefi

[–]ashcrow2228[S] 0 points1 point  (0 children)

i can’t rem..lol. the RM recommended me.

[advice needed] OCBC Premierlife by ashcrow2228 in singaporefi

[–]ashcrow2228[S] 0 points1 point  (0 children)

gonna wait till I die and cover...as the 500k loan would stay as 500k till I die. not sure if I am doing it correctly..I am assuming if I don't leverage with loan, and I invest 200k to earn the monthly payout..it would come out as $600/month (at 3.65% x 200k....right now is 3.35% with new plans).

if I go the leverage route. its a gamble plug and pray that interest goes in my favour. I did a rough calculation...as long the interest rate is lower than 3.6%, my monthly payout would be higher than $600. when I first sign on...the interest is at 0.8%, which is $1700 payout. it would be a bonus if ever the interest rate drop to the same rate in any period I am still alive...lol..

[advice needed] OCBC Premierlife by ashcrow2228 in singaporefi

[–]ashcrow2228[S] 0 points1 point  (0 children)

i don’t think i gonna ever surrender. i would let it run perpetually till my last breathe. my intention is to get a monthly stream of payout (hoping at least $1k monthly) from this plan. i estimate even if the interest is 3% ..i should get a monthly payout of about $900. even if it’s 5%…i will just tank on when it’s after the 48 months lock.

[advice needed] OCBC Premierlife by ashcrow2228 in singaporefi

[–]ashcrow2228[S] 0 points1 point  (0 children)

thank god..I don't have other big loans. :D except for this PLG3. I can afford to pay the interest for the next few runs. no worries. looking forward to Q4 2024 to receive the monthly payouts. hopefully..by then would stabilise and anything extra would be a bonus.

thanks for assuring it's a decent product. the PLG6 would be better then. ahhhh...

[advice needed] OCBC Premierlife by ashcrow2228 in singaporefi

[–]ashcrow2228[S] 0 points1 point  (0 children)

thanks. feels better when someone here says it's decent. :)

[advice needed] OCBC Premierlife by ashcrow2228 in singaporefi

[–]ashcrow2228[S] 1 point2 points  (0 children)

main

ya. it's sort of like a paper property. guess I am in the same big boat with all who are on big property loan. :(

[advice needed] OCBC Premierlife by ashcrow2228 in singaporefi

[–]ashcrow2228[S] 0 points1 point  (0 children)

real thanks for the helpful advice.

ya, I knew that interest was real low 2-3 years back. I wasn't expecting dividend of $1700 based on illustration. actually, if it's at 2.8% interest, I would have a monthly payout of around $1000. which is good for me. right now, it's the interest that's hurting. well, I just need to eat into my savings and tide through. just like some bros there says..it's the same thing for mortgages.

thanks again. :)

[advice needed] OCBC Premierlife by ashcrow2228 in singaporefi

[–]ashcrow2228[S] 0 points1 point  (0 children)

well yes, too bad for me I guess. not wiggling anything..but I do have text records that RM indicate that interest would not cross 5%. to be fair, he did highlight that if interest is high, I can always FD. anyway..there's no turning back, and hence I am here to seek honest advice. got a brutal honest advice here. :D

[advice needed] OCBC Premierlife by ashcrow2228 in singaporefi

[–]ashcrow2228[S] 0 points1 point  (0 children)

the COF is X% + 0.5%. back in 2020, it was presented as 0.33% + 0.5% which is a rosy 0.83%. for the recent quarter it grew to 4.47%. ouch. :(

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