Before:

Met Wilson during Oct 15 and he was currently staying in a 4 room Punggol HDB. During the initial sharing, he had no plans of any upgrading and intend to continue staying in the HDB till retirement. In fact his main objective was to fully pay his loan and remain debt free, thinking that it is the safest bet.

This is definitely a common mindset among Singaporeans and ironically, it can be the riskiest move. One of the main culprit is the use of a big bulk of CPF Funds plus accrued interest that will kill off his cash savings as he grow older.

After:

As usual, I stressed the importance of Assets Progression and after a detailed financial plan, I advised him to apply for another new BTO flat with the right entry price. This will at least ensure that he will have another potential capital gain of $150,000 – $200,000 for the second time.