How much are you earning per annum?

You are lucky to be in the top 5%.

In Singapore, if you have the 5 Cs, you are deemed wealthy and considered a success.

They are

1. Condo
2. Car
3. Cash
4. Credit card
5. Country club

Originally Posted by Unregistered

We are currently 50 and 47 years old. Our total household income is $160k pa. We are debt free. We own a paid up big car (more than 2000 cc) and go for overseas holidays twice a year. We eat at expensive restaurants occasionally. We enjoy the good life.

We plan to retire in 2025 in our fully paid up 3 bedroom condo unit. By 2025, we should have about $600k cash, enough for us to retire in our current condo home without the need to downgrade.

We will set aside the most $4k pm for our retirement expenses over the ten years from 55 to 65 years old, after taking inflation into consideration. This amounts to the most $480k. $4k pm is more than what we need in our retirement years. We will still have some savings after the ten years.

Our expected expenses per month (for two retired persons) will be:

Food, groceries, utilities, condo fees, internet, mobile phone $1500
Public transport $100
Medical fees & insurance $800
Holidays (pro rated) $400
Misc $700
Total $3500 pm ($42k pa)

We are heavily insured so that we don't have to worry about any big medical expenses in our old age.

Our CPF Life annuity (ERS) will give us passive income of $48k pa ($4k pm) starting from age 65 until we die.

We are very happy with our success. We came from humble backgrounds, worked very hard in school and at work and have successfully upgraded from a HDB flat to a modern luxury 3 bedroom private condominium.

We are contented and feel very fortunate and grateful to be in the top 5% of Singapore's society social economic status. To fully own and retire in a 3 bedroom condo unit is a big achievement in Singapore.

We have achieved the Singapore Dream.

Originally Posted by Unregistered

Need to work on weekends?

Yes accounting, personally would prefer a different job to suit my lifestyle.

Originally Posted by Unregistered

Seeing all the similar type of postings, there is likely a grand total of 3 active posters in this thread who keep posting the same things over and over again.

Actually there are a few hundred thousand well to do households out there, from statistics, there are 1.3 million households, if we assume the top 20% have net worth above 1 mil, that will be 260000 households. Equally miserable there will also be 260000 households who are struggling, the rest are in between.

So I think most people who post their financial status here are not bluffing.

Originally Posted by Unregistered

Actually there are a few hundred thousand well to do households out there, from statistics, there are 1.3 million households, if we assume the top 20% have net worth above 1 mil, that will be 260000 households. Equally miserable there will also be 260000 households who are struggling, the rest are in between.

So I think most people who post their financial status here are not bluffing.

Which is why the govt is still busy targeting at the poorer families through various aids n subsidies schemes, just look at how many cleaners and security guards out there who still try to secure 2 jobs now. Will be interesting if we see some postings of their net worth. They may have 300 to 400k too thanks to hdb n cpf but low cash to sustain their daily expenses.

Originally Posted by Unregistered

Yes accounting, personally would prefer a different job to suit my lifestyle.

How many years have you been in accounting?

Am in accounting too, most of my cash (90%) is in sgx shares

So far about 6+% annual return through dividends and capital gains, mostly our local blue chips and the index itself

There are many millionaires in Singapore, close to 200,000. There are a few millionaires in this forum alone. The most successful is the high flyer who retired in his mid 40s. Salute to him for his super success.

We are a middle class family, living a simple but comfortable life. My spouse and I earn a combined income of $120k pa. This amount is very modest for a couple in their early 50s but we are happy. We live in a humble home which is mortgage free. We are debt free. We don’t like debt. Being debt free feels good.

We can still afford cheap year end holidays as well as going out to family restaurants occasionally. We also support our old parents financially, on both sides.

Our combined net worth (home + cpf + cash) is $1 mil ($500k each). The average wealth per adult in Singapore in 2018 is $390k. So, we are above average. We have done quite well actually.

How about you? Is your net worth higher or lower than us? Are you debt free too or still have a big debt to clear?

Actuary
6 years
158k

40 this year.

Salary: 135K per annum
Equities: 200K, earning 4% dividends each year.
Cash: another 250K here and there waiting on the sideline
Property: Probably 650K, 50% with the wife, fully paid
CPF: 300K, can smell cannot touch

No plans to upgrade to condo, prefer to keep investing prudently to become financially free in 10 years.

Originally Posted by Unregistered

40 this year.

Salary: 135K per annum
Equities: 200K, earning 4% dividends each year.
Cash: another 250K here and there waiting on the sideline
Property: Probably 650K, 50% with the wife, fully paid
CPF: 300K, can smell cannot touch

No plans to upgrade to condo, prefer to keep investing prudently to become financially free in 10 years.

How do u manage to earn 135K?