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Old 31-05-2016, 03:04 PM
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This is an objective assessment

1. You own & live in a condo. This makes you among the top 20% of the population as 80% lives in public housing.
2. You own a car.
3. Your HH income is above the median HH income.
4. Your HH net worth is above the median HH net worth.

In conclusion, you are in the upper high class of society. Well done! Congratulations!

You can retire very comfortably.


Quote:
Originally Posted by Unregistered View Post
Middle class family, 48 & 49 year old.

Our expenses

Condo mortgage $2150 pm or $25,800 pa
Car loan $800 pm or $9,600 pa
Car petrol, road tax, car insurance, parking, etc $700 pm or $8,400 pa
Groceries, restaurants & utilities $2000 pm or $24,000 pa
Medical Insurance $1700 pm or $20,400 pa
Holiday travels $800 pm or $9,600 pa
Children $500 pm or $6,000 pa
Parents allowance & gifts $1600 pm or $19,200 pa
Others $500 pm or $6,000 pa
Total expenses $10,750 pm or $129,000 pa

Total income, including bonuses $164,000 pa
Total savings $35,000 pa

Net worth

Condo equity $800k
Cash & CPF $650k
Stocks $50k
Total net worth $1.5mil

How are we doing? How do we fare compared to our contemporaries?
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