Originally Posted by Unregistered

A lot of misconception about net worth here. Net worth is actually asset minus liabilities. Let's say you have bought a condo for 1M and only pay 100K, your net worth is only 100K not 1M! Your liability is 900K. Even though your asset is 1M, but you're basically 90% borrow money from the bank. So you are not actually richer than your neighbor hawker seller who already paid of his hdb last year which cost him total 200K.

So my point here is even you have multiple condo/apartments doesn't mean you are doing better then the other. You have to mention how much is your liability as well. Furthermore as asset is increasing by the time, those who already near retirement age are well of in term of net worth as compare to those who just started to work. If your point is only to compare the asset, then it's easy to increase your asset immediately. Just borrow 10M buy seashore landed property and yacht, and you became sudden millionaire. Yet if later you can't pay and bank posses it all then you only temporary millionaire. Pointless.