Quote:
Originally Posted by Unregistered
Hey, You guys are scary. I am 31 this year. Single. But monthly income has been about SGC 4.5 - 5.5k/mth for the last few years. But I have only managed to save the following:
Cash: $110K
CPF: $130K (including SA and medisave)
Stocks, Preference Shares, Bonds: $30K
Endowment funds: $40K
I will be hopping on to another job that pays me an annual package of $90K per annum. But I have no idea how you guys can have a net worth of close to SGD 1 million when you are older than me by 5 to 6 years. Are you guys sure you are talking about SGD and not some other currencies?
Would like to hear more from you guys.
Thanks |
for people with above average (but not super high) salaries, you need some luck with investments.
here's how my wife and i did it (we are mid-30s):
SGD 800K in cash and
cpf savings over 11+ years of working (this is probably quite achievable for most graduate couples with consistent promotion and increments). i tried to save as much as possible during my earlier working days
SGD 850K realized profit from property investment between 2004 and 2007 (dumped all our cash into property in 2004 with quite a bit of leverage, and selling high in 2007 when prices more than doubled)
SGD 500K realized profit from property investment between 2009 and 2011 (bought and sold 2 condos when the property market started recovering after mid-2009)
right now we own 1 property for own stay, with about 750K in cash on standy for the next crash