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How to avoid being property ‘rich’ but cash poor
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Having an extra property is not a sound retirement plan if you don't have enough cash.
PHOTO ILLUSTRATION: ISTOCKPHOTO
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It’s all very well buying a second property to help fund your retirement, but if you deplete your savings in the process and leave yourself without enough cash to meet expenses, you could be forced to sell the property – a fate that befell one couple here recently.
The couple had owned a condo unit for over 10 years while they still lived in their HDB flat.
