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#**7126** (**permalink**) 20-03-2015, 07:58 AM

Quote:

Originally Posted by Unregistered

Lives in a 3 bedroom condo in the North region.
Drives a car to work, to send kids to school & to send wife to her office.
We live a typical middle class family of four. Our children go to neighbourhood schools.
Household income $140k pa. Savings $40k pa.
Condo latest valuation $900k. Loan left $200k. Paying by CPF.
Car loan left $30k.
Our household net worth (including home equity) is $1.2m.
Our assets are condo, cash and CPF savings. No stocks or other financial products.

Can any experts in this forum comment where we stand financially compared to our peers (we are 47/48 years old respectively)?

How can we prepare for our retirement at 65?

IMO, your net worth is good given your HH income.
But to be honest, given your HH income, you may be living beyond your means. Let me explain. Your HH income places you around the 70th percentile of the population. Yet 85% of the people in singapore live in HDB? Also, cars can be a big waste of money although there is not enough info on your need for it eg perhaps your condo is too far away from MRT etc...