How much are you earning per annum?

Originally Posted by Unregistered

Wife 26 kid 6 yo. Your wife married you at 19? Having college education? Fantastic for her to earn 50k. Believe she must be doing her own business.

Lol.. She is not self employed, well we got married while she is young and pursued higher education to complete her double degree in Biz Management and HR. Grown pretty well in her career so far, 50k pa is not much compared to many successful posters here though.

Originally Posted by Fiery

Lol.. She is not self employed, well we got married while she is young and pursued higher education to complete her double degree in Biz Management and HR. Grown pretty well in her career so far, 50k pa is not much compared to many successful posters here though.

Btw, salaries are inclusive of AWS excluding any other bonuses as they varies on market situations. Wife has completed her double degree as mentioned through distant study after marriage while I am only with PSLE education. Being in the Retail line, experience, skills and performance records go a long way so I do not suffer as much due to the lack of academic qualifications.

Originally Posted by Unregistered

middle class couple, 46 & 44 years old, with two teenage kids.
makes $169k pa. saves $40k pa.
owns a condo in the OCR, worth $1m, loan outstanding $240k.
drives a small car, no loan.
total net worth $1.1m.

how are we doing financially?

hope gurus in this forum can share your comments on our financial standing.
thanks.

if you are in the same age group as us, can you share your own situation? thanks.

We are few years younger than you, me 41 and my wife 40 years old. Singaporean. Two kids, one in top tier local high school and one in primary school. Made some $100k pa. Save some $15k pa.

Own a condo in D3 worth close to $2m and a 5-room HDB flat in same D3 worth close to $900k. Outstanding loan about $1m.

Own two other properties overseas worth some $1.2m, no loan.

Other cash and investments of $650k. CFP insignificant for both (less than $20k).

No car, but have a maid to take care of the kids.

Simple life, holiday once a year for the whole family and eat home cook food (by maid).

Hope to retire by late 50s.



Please advise if we can

What's your combined net worth?

How did you manage to accumulate so much with $100k pa salary?

Originally Posted by Unregistered

We are few years younger than you, me 41 and my wife 40 years old. Singaporean. Two kids, one in top tier local high school and one in primary school. Made some $100k pa. Save some $15k pa.

Own a condo in D3 worth close to $2m and a 5-room HDB flat in same D3 worth close to $900k. Outstanding loan about $1m.

Own two other properties overseas worth some $1.2m, no loan.

Other cash and investments of $650k. CFP insignificant for both (less than $20k).

No car, but have a maid to take care of the kids.

Simple life, holiday once a year for the whole family and eat home cook food (by maid).

Hope to retire by late 50s.



Please advise if we can

Originally Posted by Unregistered

What's your combined net worth?

How did you manage to accumulate so much with $100k pa salary?

Oh yes forgot to mention. Just partly inherited from my parents and made an one-off fortune few years ago. We were lucky to purchase the properties when market was down.

Current net worth is around $2.5 m.

Originally Posted by Unregistered

Oh yes forgot to mention. Just partly inherited from my parents and made an one-off fortune few years ago. We were lucky to purchase the properties when market was down.

Current net worth is around $2.5 m.

That explains it. You are very lucky then.

You can retire any time as long as your passive income is greater than your expenses.

Some people retire young by staying in 3rd world countries as expenses there are very low.

Originally Posted by Unregistered

Oh yes forgot to mention. Just partly inherited from my parents and made an one-off fortune few years ago. We were lucky to purchase the properties when market was down.

Current net worth is around $2.5 m.

I calculated that your net worth is $3.75m. Did I miss something?

Originally Posted by Unregistered

I calculated that your net worth is $3.75m. Did I miss something?

Yes some $1m (more or less) from future sale proceeds of inherited property will be given to our sisters, out of goodwill but not compulsory. Hence our combined net worth (husband and wife) is around $2.5m.

Our concern is that we are not making regular hefty income and could not save as much as most of middle class families here.

Originally Posted by Unregistered

Yes some $1m (more or less) from future sale proceeds of inherited property will be given to our sisters, out of goodwill but not compulsory. Hence our combined net worth (husband and wife) is around $2.5m.

Our concern is that we are not making regular hefty income and could not save as much as most of middle class families here.

That's kind of you. May I know how much you earn and how much does your wife earns per year? What kinds of jobs are you both doing? Are you grads?

No need to wonder. Let me share my perspectives. Our passive income reached $100k last year. This year we are expecting $130k as we reinvest the passive income year after year since we are still working. The amount came from 3 main sources - dividends, rental and bonds.

When we first started building the passive income streams, it was primarily to establish a source of income to sustain our lifestyle when we retire. Our target was $100k pa which we achieved last year. Did we think that $100k pa passive income was not enough? No, we felt it would be enough for us when we retire. So why are still reinvesting and injecting new funds into investment? This was because investment for passive income has become like our little personal and private project, it has become like a hobby for us.

Every week we spent a few hours reviewing our investments, totalling up the passive incomes and searching out new investment opportunities. We enjoy this very much and there is a community of people doing this. Some of these people also share their experiences through blogs. You just have to type in key words like "passive income" on google and you will find the blogs.

Believe me, it has nothing to do with pride, greed, status or ego. As a hobby, investment for passive income can be quite absorbing. You derive tremendous satisfaction and sense of achievement when you hit one target after another.

It definitely helps that we are still working as our work incomes provide us more funds to invest more. We can really see the compounding returns!

You should try it - investing for passive income. It can be addictive!

Originally Posted by Unregistered

Very enlightening post. Makes me wonder why some people with passive income of $100k pa still thinks this is not enough. I think the problem is not the amount be their greed and attachment to this world. Attachment to wealth, status, pride, ego. A truly rich person is one with less needs, no need for status, wealth, pride and ego.