How is life as a doctor in Singapore?

Originally Posted by Unregistered

Net worth so basic also people dunno?
$1.6m in sg is not much considering the price of property in sg
Problem is people have to live on very expensive property assets
Cost of housing
Whats your debt to asset ratio?
Debt to equity ratio?
Debt to current assets ratio?

I am late 40s as well. Net worth $3m. Debt free. No mortgage.
All the ratios 0.
A
My net worth when I was MO living in HDB during SARS was 20k

Good for u. How did u grow yr networth? Can share for the benefit of the young Drs?
U specialised and invested in properties?

I am also debt and mortgage free. But I didn't specialise , just a normal GP with GDFM. I also worked normal hrs mostly, didn't chiong and work long hrs. Enjoyed life going for regular yearly tours.

My peers mostly earn more than me too.

But I am contented as I have a 2 boys and can retire now if I want to.

Originally Posted by Unregistered

Very much so.
Low rates.
Plus govts were paying people money.
Giving money to businesses
The nunber of bankruptcies globally DECREASED during covid
Where does the cash given out to people go to if they cannot spend?
Banks.
Banks had to decide what to do with the extra billions of deposits
They lowered mortgage rates.
Property went up. People wanted bigger home offices to work from
Also banks invested the cash deposits into T bills.
But when fed raised rates the yields from the T bills bought during covid
Were no longer attractive.
Some us banks like svb ran into liquidity problems when clients withdrrw all their cash
They had to sell their T bills. But mo one would pay what the bank paid for it.
The yield had to be higher and thus the value of the T bills halved.
Simple math. If $100k of T bills yield 2%. Now yield are 4%. So for those old T bills the value has to be 50k for the same yield to be now 4%.
Bank go bankrupt.
Sg banks have higher reserve ratios than US banks.

So do u foresee a financial crisis likeLehman Bros coming soon?

My networth alone may be only S$1.6 mil but combined with hubby is S$3.5 mil.

So for the people who have homemaker wives with lower networth,maybe is better to calculate household networth as a couple.

But of course I know there are many high flyer couples too with much higher networth than us.

Originally Posted by Unregistered

So do u foresee a financial crisis likeLehman Bros coming soon?

There is way too much gamma squeeze at the moment. So no.
All eyes on Fed now.
If they do cut rates market will rally. But then inflation looms once more
I see markets going nowhere.
Sideways range bound.

Wah cheem. What is gamma squeeze? U seem quite knowledgeable about the economy. U studied Economics before?

Originally Posted by Unregistered

Good for u. How did u grow yr networth? Can share for the benefit of the young Drs?
U specialised and invested in properties?

I am also debt and mortgage free. But I didn't specialise , just a normal GP with GDFM. I also worked normal hrs mostly, didn't chiong and work long hrs. Enjoyed life going for regular yearly tours.

My peers mostly earn more than me too.

But I am contented as I have a 2 boys and can retire now if I want to.

Lol.
I migrated.

Originally Posted by Unregistered

Lol.
I migrated.

I wanted to migrate in my 30s with my 2 young boys but my hubby didn't want.

Originally Posted by Unregistered

Wah cheem. What is gamma squeeze? U seem quite knowledgeable about the economy. U studied Economics before?

No lah. Just MBBS NUS.
But have been reading and learning lots since 2007.
Like I said dont waste your time and brain space on useless medical
Knowledge.

Originally Posted by Unregistered

I wanted to migrate in my 30s with my 2 young boys but my hubby didn't want.

Too bad. Fam Med pays a lot better in the West.
Housing is much cheaper too. Same for cars.
I can retire already. But want to work another 5 years then I
Can help kids buy their homes.
Also set up family trust for grandkids.
In sg some people net worth could be $2m but they live in the 1.5m asset
Meaning only have 500k disposable cash/liquid assets.
Different if you live in 700k landed single family home and have 1.3m liquid assets.

Originally Posted by Unregistered

Too bad. Fam Med pays a lot better in the West.
Housing is much cheaper too. Same for cars.
I can retire already. But want to work another 5 years then I
Can help kids buy their homes.
Also set up family trust for grandkids.
In sg some people net worth could be $2m but they live in the 1.5m asset
Meaning only have 500k disposable cash/liquid assets.
Different if you live in 700k landed single family home and have 1.3m liquid assets.

U have sons? They r skipping NS?