Honestly speaking you are doing not that well with such high total annual income.
Although your mortgage finance is prudent, family expenses, insurance premium are respectable, your saving is definitely not strong.
Either you have just reached this income level or you have overspent some other area.
Quote:
Originally Posted by Unregistered
Late 40s, married couple, living in a private condominium, paying a mortgage of $1200 pm. Earning a total income of $208k pa. Mortgage service ratio (MSR) of only 7%. Financially very prudent.
Supporting old parents on both sides ($1400 pm) as well as own children. Spends quite a lot on family insurance too ($1600 pm). Also reward ourselves with year end overseas holidays. Owns a good car too.
Enjoying an upper middle class lifestyle. We are happy to spend on our parents and children so that they can enjoy a good life.
Our total net worth $1.48m, including condo (home equity), cash, stocks and CPF.
How are we doing when compared with our peers of the same age group? |