How much savings do you have?

Originally Posted by Unregistered

Ok, this is mine and its the honest truth.

Me - 31 yr old
wife - 29 yrs old

cash - 40k
stock - 0k
car - worth 90k now - 50k of loan left
condo - worth 1.2 mil...700k of loan left
commercial property - worth 300k - 200k of loan left

is this stupid? with so little cash

I am the one who post the above.

I remember saving only 300 dollars every month for the first 2 years of work.
could only save up on bonuses....and it was 4 months of bonus. so how did the guy who post after me save so much in a year???

Originally Posted by Unregistered

I am the one who post the above.

I remember saving only 300 dollars every month for the first 2 years of work.
could only save up on bonuses....and it was 4 months of bonus. so how did the guy who post after me save so much in a year???

Because he obviously talking cock lar. Here everyone can say what he like mah, either all of Singapore's best and brightest investment banker all posting in forums.salary.sg or we have a lot of losers who are trap in a rat race with no way to get out. So come here to fantasize lor.

I am quite lucky as I have a good bonus (cash and stocks) and healthy increments. Base pay to start off is quite high also. I travel a fair bit, so on other company's TE, so that explains why I can save more =)

I am a normal Singaporean boy, not a superstar. My friends who are IBs and lawyers earn more than me, but I am satisfied. I live a very normal lifestyle and I enjoy it. I save $$$ to buy property and use it as my investment vehicle. Both properties have since gained value from the point I bought them. I am not a speculator but am put off by the governments' tough measures and will diversify soon, to the dismay of my tenants as I am a good landlord.

My advise is to see property as investment and not love nest, and to cut down on unnecessary expenses and to save up as soon as possible so that you have more options. Do an audit If you do not have high salary, it's imperative that you start earlier, so that you will spend less time in the rat race.

Just my 2 cents. Hope this helps all of you.

Originally Posted by Unregistered

I am the one who post the above.

I remember saving only 300 dollars every month for the first 2 years of work.
could only save up on bonuses....and it was 4 months of bonus. so how did the guy who post after me save so much in a year???

I find that owning a car is an necessary expense for me. Without that, I can easily save $1000/month. I feel difficult to convince myself to owning one still when I am in Singapore.

Originally Posted by Unregistered

there are... office spaces (1000 sq ft) at launch prices from developers

Any more good deals like this now? You must have made a lot from this if you divest now. rental should be holding up too.

Originally Posted by Unregistered

Ok, this is mine and its the honest truth.

Me - 31 yr old
wife - 29 yrs old

cash - 40k
stock - 0k
car - worth 90k now - 50k of loan left
condo - worth 1.2 mil...700k of loan left
commercial property - worth 300k - 200k of loan left

is this stupid? with so little cash

Properties are not very liquid in times of emergencies.

Wife and I both mid 30s

Condo - worth 1.8m 400k loan left
Cash 550k
Stocks 1m

Just divested over the CNY, current status is

Cash: 175K
Stocks:50K
CPF:130K
Condo: Worth 1.1 M (loan left 800K)

Will be channeling more cash into the stock market and waiting for the right moment to divest the other property, and then enter the property market again. Should be selling the other one before the next measure.

Happy CNY!

Originally Posted by Unregisteredtounreg

Wow how did you manage to get a commercial property at 300K?

Mine (honest truth)

Age: 31(me)/28(wife)

Cash: 25K
Stocks: 50K
Condo: Worth 900K (loan left 500K)
Condo: Worth 1.1 M (loan left 800K)

Easy to save for down payment before start of cool down measures. I save around 50K every year ever since graduation.

Originally Posted by Unregistered

I find that owning a car is an necessary expense for me. Without that, I can easily save $1000/month. I feel difficult to convince myself to owning one still when I am in Singapore.

I find myself unable to give up the car too.
Sigh.
That's giving up 2k+ worth of savings per month. Sad.

I am 34.

Cash: 159k
UT & Stocks: 0 at the moment.

sigh... actually in year 2010 (last year), my total expenses were around $80-100k. Otherwise, I would have $250k now.

Have been working for 10 years and actually could have saved $1k per mth easily, and that would mean about $120k till now. And the total projected savings should be $370k at current age.

Impossible? Not really. As mentioned, it is possible to save $1k per mth, and based on current age (10 years later), I will have $120k. Nothing surprising. I don't drive, don't smoke, social drinker. But during my early years of working, I indulged in gambling and lost every single cent I earned. Greed is the common word here.

Up to four years ago, my bank account was only $20k, but something very fortunate happened to me: the financial meltdown in 2008. I bought 3 lots of las vegas at $1.50 and sold them recently at $50 - which explains my current cash holdings at $159k.

I'm sorry for those who suffered during the crisis, but it brought me new life and I am treasuring it more.