How much are you earning per annum?

After hearing all the rich stories and the sarcasm above, heres my typical Singaporean life.

Young Couple, Both 27
Total Income 92k pa
Married 1 year, no childen. Planning first child by 30yo
Car installment $800/mth, Parents $800/mth combined. No other financial commitments.
Awaiting 4BR HDB in 3 years time
Holiday in SEA once/twice a year, with every 2-3 years Ang Moh/North Asian country one time.
Total Savings about $40k

Still comfy enough for us but saving up for future children and new BTO reno. Will be tight once these 2 things come into the picture.

Originally Posted by Unregistered

After hearing all the rich stories and the sarcasm above, heres my typical Singaporean life.

Young Couple, Both 27
Total Income 92k pa
Married 1 year, no childen. Planning first child by 30yo
Car installment $800/mth, Parents $800/mth combined. No other financial commitments.
Awaiting 4BR HDB in 3 years time
Holiday in SEA once/twice a year, with every 2-3 years Ang Moh/North Asian country one time.
Total Savings about $40k

Still comfy enough for us but saving up for future children and new BTO reno. Will be tight once these 2 things come into the picture.

This poster sounds more realistic for the 80% of the common Singaporeans .

Age 32 and 29 with one child age 3
Single income family - $117k pa
Staying in a 4-room HDB with no car and maid
Expenses roughly $45k pa with one or two holidays to Asian countries

Looking to upgrade to EC in the coming months.

Originally Posted by Unregistered

After hearing all the rich stories and the sarcasm above, heres my typical Singaporean life.

Young Couple, Both 27
Total Income 92k pa
Married 1 year, no childen. Planning first child by 30yo
Car installment $800/mth, Parents $800/mth combined. No other financial commitments.
Awaiting 4BR HDB in 3 years time
Holiday in SEA once/twice a year, with every 2-3 years Ang Moh/North Asian country one time.
Total Savings about $40k

Still comfy enough for us but saving up for future children and new BTO reno. Will be tight once these 2 things come into the picture.

40k savings including CPF savings?

hard to imagine the expense for 2 + car is less than 1200 a month.

Originally Posted by Unregistered

40k savings including CPF savings?

hard to imagine the expense for 2 + car is less than 1200 a month.

40k cash. We didnt have a big wedding so brought over about $24k savings from our single lives and been consciously saving $1200 combined as a couple for the past year or so for our future baby n house. We bring home abt $5.2k after cpf so minus car, petrol, parents money, bills n savings, insurance, household stuff still have about $1200 combined. I drive my wife to work cos we work near each other so no need ezlink top up and budget our workday lunch to $10 day per person (basically 50 bucks a week), dinner eat at home (still sponsored by mother or MIL for this haha) but occasionally eat out. Whatever balance we have is for movie or nice weekend food or other entertainment.

I mentioned still comfy cos got no children and we realise if we try live within our means, we still enjoy proper food and have money for leisure. Will definitely be tighter if our planned baby comes in in 3 years, hopefully increment over that time can cover.

Originally Posted by Unregistered

40k cash. We didnt have a big wedding so brought over about $24k savings from our single lives and been consciously saving $1200 combined as a couple for the past year or so for our future baby n house. We bring home abt $5.2k after cpf so minus car, petrol, parents money, bills n savings, insurance, household stuff still have about $1200 combined. I drive my wife to work cos we work near each other so no need ezlink top up and budget our workday lunch to $10 day per person (basically 50 bucks a week), dinner eat at home (still sponsored by mother or MIL for this haha) but occasionally eat out. Whatever balance we have is for movie or nice weekend food or other entertainment.

I mentioned still comfy cos got no children and we realise if we try live within our means, we still enjoy proper food and have money for leisure. Will definitely be tighter if our planned baby comes in in 3 years, hopefully increment over that time can cover.

i see. tot u meant u saved 40k a year out of ur 92k combined income

Late 40s, married couple, living in a private condominium, paying a mortgage of $1200 pm. Earning a total income of $176k pa.

Supporting old parents on both sides ($1600 pm) as well as own children ($1000 pm). Spends quite a lot on family insurance too ($1700 pm). Also reward ourselves with year end overseas holidays ($10k pa). Owns a good car too ($1800 pm).

With such high commitment to parents and children and living a good life, our expenses are quite high. We only manage to save $30k pa. However, we are happy to spend on our parents and children so that they can enjoy a good life.

We will retire after our children grow up, start working, got married and living in their own BTO flats. We can then sell our current three bedroom condo and buy a one bedroom condo, which will be easier to maintain. We will use our cash savings to buy private annuities for our retirement. We also have our CPF Life annuity.

30yo single
300K in cash + stocks + bonds
No car, take public transport
Haven't buy house. Will look for 2BR EC soon.
Sal: 98.5K pa
Monthly give parents 1550, spend 500 on food and entertainment on myself.

I supposed you are not curious to know what the other 20% of Singaporeans earn and own?

The top 20% of Singaporeans are actually quite spread out in their income and net worth. The bottom half of the top 20% have networth of between $8m to $15m. The top 10% have upwards of $15m to $billions.

For a typical professional couple, if both work continuously for 30 to 40 years (by 55 to 65 yo), they will build up a combined networth of $6m to $10m.

Originally Posted by Unregistered

This poster sounds more realistic for the 80% of the common Singaporeans .

Married couple both 32 and 29
No kids, stay in 4rm HDB. Low installment, slowly pay.
My income: 99k, wife: 80k.
Budget to spend within wife salary so yearly savings is at least 70k+ ( take home)
Cash plus investment assets excluding CPF: 250k. Aiming to build up for 2nd property