How much are you earning per annum?

Income from work $80k pa, income from stocks dividends $15k pa.
Wife is a housewife, focusing on bringing up the children and tutoring them. Both kids now doing very well in school, thanks to my wife's diligence and discipline. Hoping that both kids will eventually go to the gifted program and then to the top secondary schools and JCs.
Annual savings $30k pa. Drives a small old car. Lives in a 4 room HDB flat.

[lazyplane]

Originally Posted by Unregistered

There are about 12 million millionaires in the world today.
.

Ya .. but there a billion of them here in this forum !

Good that you prioritize your children. There are families with working couples, but their children are neglected. They are rude and rotten and lousy in their studies. These families can be living in condos and have big cars but the family is unhappy as their children and parents always quarrel about the behavior, the bad company they keep and their hopeless academic performance. You make the right choice for your wife to be nurturing your children. Congratulations.

Originally Posted by Unregistered

Income from work $80k pa, income from stocks dividends $15k pa.
Wife is a housewife, focusing on bringing up the children and tutoring them. Both kids now doing very well in school, thanks to my wife's diligence and discipline. Hoping that both kids will eventually go to the gifted program and then to the top secondary schools and JCs.
Annual savings $30k pa. Drives a small old car. Lives in a 4 room HDB flat.

Originally Posted by Unregistered

Income from work $80k pa, income from stocks dividends $15k pa.
Wife is a housewife, focusing on bringing up the children and tutoring them. Both kids now doing very well in school, thanks to my wife's diligence and discipline. Hoping that both kids will eventually go to the gifted program and then to the top secondary schools and JCs.
Annual savings $30k pa. Drives a small old car. Lives in a 4 room HDB flat.

How old are u now?
I am also the sole breadwinner. My wife is housewife taking care of our little baby boy.
I not earning that much but for my baby's benefit, we chose this route.
Just hope to do some investment (stocks etc) to provide some support to the household income.

[lordlad]

Originally Posted by lazyplane

Ya .. but there a billion of them here in this forum !

LOL...yup...from reading through this forum/thread, you've guess like 75% of the singaporeans are millionaires, the next 24% are billionaires and only 0.75% are middle class and 0.25% poor people....

People have tendency to blow horn when they achieved some success. So it should be no surprise that those who blew their horns here are the more successful ones. The ones who blew the loudest are probably those who were newly "rich".

I observed this kind of behavior in my class reunion. The first two reunions saw very good turnout. Somehow over the years, I was told, the number dwindled to a just a handful of regulars who were holding high management positions in their respective work places.

So, yes 75% of the posters here could indeed be millionaires. Doubt billionaires would be bothered. Not too sure about 0.25% poor! think there are probably busy earning money just to survive.

Originally Posted by lordlad

LOL...yup...from reading through this forum/thread, you've guess like 75% of the singaporeans are millionaires, the next 24% are billionaires and only 0.75% are middle class and 0.25% poor people....

working in poly. joined last year.
basic is $5100.
age - 39 year old
wife 3 kids

[lordlad]

i think the most important thing is your total net asset needs to be at least positive....

no point earning 15k monthly but having a monthy expenses of 20k....

It's always like those banks shouting them having 500 million revenue but whispering that they made a net loss of 25 million.....this is not good business. Having high revenue and asset doesn't mean anything if you still end up having a net loss of profit.

This is very true. Let's look at two examples:

Guy A:

Earns $60k pa. Live a simple life, no car, take public transport, cheap holidays. Saves $20k pa. Live in a 4 room flat, which is fully paid and worth $400k. Current net worth $500k.

Guy B:

Earns $150k pa. Lavish lifestyle, likes partying with girls, drives a flashy sports car, lives in a condo, frequent high end restaurants, European holidays. Every year deficit of $30k, takes loan to cover deficit. Condo valued at $1.5m, outstanding mortgage $1.2m. Current net worth $500k.

Who is better off after 20 years? The answer is obvious.

Originally Posted by lordlad

i think the most important thing is your total net asset needs to be at least positive....

no point earning 15k monthly but having a monthy expenses of 20k....

It's always like those banks shouting them having 500 million revenue but whispering that they made a net loss of 25 million.....this is not good business. Having high revenue and asset doesn't mean anything if you still end up having a net loss of profit.

Originally Posted by Unregistered

This is very true. Let's look at two examples:

Guy A:

Earns $60k pa. Live a simple life, no car, take public transport, cheap holidays. Saves $20k pa. Live in a 4 room flat, which is fully paid and worth $400k. Current net worth $500k.

Guy B:

Earns $150k pa. Lavish lifestyle, likes partying with girls, drives a flashy sports car, lives in a condo, frequent high end restaurants, European holidays. Every year deficit of $30k, takes loan to cover deficit. Condo valued at $1.5m, outstanding mortgage $1.2m. Current net worth $500k.

Who is better off after 20 years? The answer is obvious.

There's a Guy C who earns like B but spends like A.