The average household has a net wealth of $710,400, says an interesting article in New Paper on Sunday.
Quote:
"Total Assets: $859,970
Currency & Deposits $157,930
Shares & Securities $120,360
Life Insurance Equity $76,820
CPF/Pension Funds $119,930
Residential Property $384,920
Total Liabilities: $149,570
Mortgage Loans $110,390
Personal Loans $39,180
Net Wealth: $710,400"
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But that figure applies to the average
household. What about the average person?
To keep things simple, let's assume that each household has 2 breadwinners. So, roughly, each income-earning individual has an average net wealth of about $300k.
$300k wealth, on average.
Is your net wealth above average?
See this Salary.sg
post on how to
calculate your net wealth, or
net worth, and compare it against a benchmarking formula based on your age.
Note: The TNP writer derived the $710,400 figure based on end-2006 data in the
Yearbook of Statistics Singapore, 2008.
http://www.salary.sg/2008/is-your-net-wealth-300k/