How much are you earning per annum?

I'm earning a 32 yr old ops manager with a degree in information systems. I earn 5.4K/mth.
Currently working at a large local bank

You seemed so eager to be classified as a millionaire (couple). Why is this so? Do you actually feel rich? You know if the bulk of the wealth is tied up in your primary residence, and CPF, so what does that leave you?

You should only count your disposable wealth - money you can use for investment or for spending.

Anyway at 40, time is on your side. Your combined $1.2m asset is a little on the low side considering that it included your primary residence. Lets say you can save $110k pa, in another 20 years, it would give you another $2.2m. That should be enough to provide you and wife a comfortable retirement. Watch out for the deleterious effect of inflation though.

In 20 years, an inflation of 3% pa will reduce a $1m today to just $500K+ in terms of purchasing power.

Originally Posted by Unregistered

I'm 40 years old graduate, earn only $220k pa. Wife is housewife, takes care of twins, parents and household chores. We live in exec apartment, paid up. Besides our home, other assets include MPV, cash, CPF and some stocks. My net worth is $800k, my wife's net worth is $400k. We are a millionaire couple.

Wife, 46, earns $110k pa. I, 40, earns $90k pa.
Home is a 2 bedroom condo, worth $800k, Mortgage loan left $300k.
Car, 8 year old, 1.6l, paid up.

I'm a full time investor, trading the global markets. I love the excitement of the financial markets. I earn about $115k pa, both from dividends and trading profits. I love doing this, compared to my previous boring job. My wife earns $130k pa. Our household expenses is about $100k pa, and we share these expenses equally. Our target is to retire at 60, another 15 years time. By then, my dividends should be about $100k pa. This is more than enough as our kids will independent by then. Being debt free and less commitment means our expenses will be much lower. Our penthouse where we are staying is fully paid.

property agent
$240k per annum

Originally Posted by skye

property agent
$240k per annum

What's your name and mobile number?
I need to ask you about purchase of a property.
Thanks.

Originally Posted by Unregistered

What's your name and mobile number?
I need to ask you about purchase of a property.
Thanks.

He will not tell you his real life identity or else the whole world will know how much he earns.

Hi just wondering if anyone has experience working at visa (Singapore)? What's the bonus and salary like for a fresh grad with like 1-2 years experience?

Graduate couple, 41 & 47, earning a combined $200k pa.
Condo bought in 2006 for $500k, now worth $1m, fully paid up.
We own a Jap car, 9 years old. Will take MRT once COE expires.
We dont have much savings, only $400k in CPF and cash.
We are just your typical middle income graduate Singaporean family.

We will downgrade to a 2 room HDB flat when we have no income at retirement age 65.
We hope to enjoy the many rebates from the annual budget which are given to those staying in HDB flats.

If you are living a simple life now it will be easier to downgrade to HDB, when the time comes.

My wife and I have our own cars. Once we tried living with one car, we simply could not adjust. With only one car, I have to fetch her to her workplace and then send our children to school. It was very taxing on me as my work schedule not very flexible and also at times I had to be in office very early. So they had to wake up very early to take public transport or taxi. We were all tired and stressed each day. So after 2 months, we went back to having 2 cars.

Likewise for the maid, we tried not having a maid after our children reached secondary school level. We had food delivery for dinners, and we took turns to clean the house every evening. Again it was terrible as we were always tired out when we reached home at night from work! Our clothes were not ironed for that period without a maid, and most weekends were spent cleaning up the house. We promptly got ourselves a maid.

Living in a condo has uplifted our quality of life - privacy, facilities and exclusiveness. We upgraded from HDB, so we know what life would be like if we downgrade back to HDB. Adjusting from HDB to condo living was the easy part. Going the other way around would be a pain, I am sure.

Originally Posted by Unregistered

Graduate couple, 41 & 47, earning a combined $200k pa.
Condo bought in 2006 for $500k, now worth $1m, fully paid up.
We own a Jap car, 9 years old. Will take MRT once COE expires.
We dont have much savings, only $400k in CPF and cash.
We are just your typical middle income graduate Singaporean family.

We will downgrade to a 2 room HDB flat when we have no income at retirement age 65.
We hope to enjoy the many rebates from the annual budget which are given to those staying in HDB flats.