How will I advise my clients if they want to buy properties?
First, I always encourage my clients to pay off their loan as soon as
possible for their own residential home. It can be HDB or private it
does not matter. I encourage them regardless of the interest rate
environment to pay off their residential mortgage because they need a
physical place call home which is safe and not subject to any kind of
risk such as foreclosure. For a fully paid up HDB, the property is
protected from creditors. However, I will not advocate paying off the
debt in a single lump sum as it can create a liquidity crisis. So I’ll
have a proper pre-payment strategy in place for them. Say, if their loan
was a 30 years loan, I’ll have a schedule of pre-payments over the
next 10 years so that their mortgages will be cleared by 10 years
Createwealth8888 Is your only residential home loan your investment loan? Think again!
Last updated : 14 Sep 2020
I am 64 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016.
Single household income since 1995 with three children.
Currently, two sons and one daughter are working.
I have been doing 21 years of long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that so-called Panda or Koala in the investment world.
I am currently executing my Three Taps solution model to maintain sustainable retirement income for life till 2041 @ 85 yrs old.
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