Quote:
Originally Posted by Unregistered
50/ 52 middle income couple, annual income $180k pa. Saves $50k pa.
Bought our condo in 2003 at $600k, now paid up and worth $1.2m.
Own a one year old car, paid up. Current market value $100k.
Cash and CPF savings in total $500k.
Total net worth $1.8m.
How do we fare when compared to our peers? |
There seem to be no data on wealth by age group so we can't do peer comparison. However you could compare yourself against the whole Singapore population. I think about 18% lives in condos, many are still paying their mortgage. Let's assume only 20% of those living in condos have cleared their mortgage loan. This means only the top 3.6% (i.e. 0.18 x 0.2 = 0.036 or 3.6%) of the population lives in a fully paid condo and you are one of them. So, you are among the top 3.6% in Singapore in terms of economic standing. This is awesome!