It is not so important as to where you stand now, what is more important is your growth/career potential.
Let me explain. I grew up in a kampung at a time where if you have completed "O" level your parents expected to go out and work and support the family.
My neighbours did just that. After "O" levels they started work. Within a few years, you can see them buying new TVs, sofas and other household appliances. For us, my parents believed we should continue with our studies where our results permitted. And study we did, all the way up to our honours degree, all this while still living in our old home with all the old appliances.
When we graduated and started work, some of our neighbours even managed to own cars. In their eyes, we were very far behind in status. I remembered one of my neighbours even told my mother "what's the use of studying so much? Look at my son, got his own flat already and bought a car also".
Fast forward 30 yrs, the kampung is no longer around, all of us resettled to HDBs. We are now staying in a condo, have 2 cars and our net worth is above $5m. My neighbours are still staying in their 4 room HDBs and the sons have been drifting from job to job with long stretches of unemployment. I am not saying this to look down on them, but to highlight that measuring your success at one point in time is not indicative of where you will head in future. Your career potential, investments and health are other important factors. You may be ahead today, but tomorrow, you will fall behind.
In fact, don't compare with others, just do your best, don't rest on your laurels, but enjoy the journey!
Quote:
Originally Posted by Unregistered
Our assets (both husband (42) and wife (40)):
1. 2 bedroom condominium unit $1m
2. CPF funds and cash $500k
3. Stocks $300k
Liabilities:
1. Mortgage $250k
2. Car loan $50k
Net worth $1.5m
Income $160k pa
How are we doing?
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