Your friend is in the rich class group because he owns two properties and a car.
His HH income of $230k pa is very high as the median HH income is only $104k pa.
Quote:
Originally Posted by Unregistered
My fren have this scenario:
Husand Income: $120k pa (44 yrs)
Wife income: $110k pa (41 yrs)
Savings = $30k pa
Car paid up
5 room HDB flat fully paid up
2 bedrm private condo: loan $600k (intend to rent out)
Two schooling children around 10 yrs old
Combined HH (husband & wife) savings ( CPF & cash) = $650k
Is it sufficient?
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