You are right. 20% of our resident population lives in private housing (80% lives in public housing) and 45% of households owns a car. Which mean families living in private housing AND owning a car makes up the top 9% of the population (0.20x0.45 = 0.09 = 9%). So you're in the top 9% of our society. Well done! You're in the upper social status.
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Originally Posted by Unregistered
As a couple, we worked hard. We are proud to be able to afford a condominium unit which we had paid for in full. We now earn $140k pa in total. We own a car, also paid up. In total our household net worth is $1.38m. We are a happy family as we managed to clear our debt and liabilities. We are in our late 40s.
Will spend another 15 years or so to save up for our retirement. Will ensure our CPF SA is maximised so that we can opt for the CPF Life ERS. That will be our main source of retirement income (maybe about $3,600 pm for a couple). The other source of retirement income will be from annuities which we will buy using our cash savings. We will retire in our condominium unit.
I think we are considered successful in our local context since we have achieved 5 Cs - condominium, car, cash, credit card and children. Children is the most precious as we cherish our kids a lot. |