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? |
There is really no need to compare. But if you really want to compare, actually it is more meaningful to compare with your circle of friends. If most of your friends and relatives are not doing as well as you, you will feel good about your achievement. But if most of them are doing better than you, then you will feel that you could have done better. If we take the whole population, there is no doubt that you are above average.