How much are you earning per annum?

Eh, dont bring me in into your argument. If you want to defend your claim you should provide further details of your networth to substantiate.

Do you guys find $5.5m a lot? Would you consider household with that networth wealthy? I think its a matter what your own networth is when you compare. Among my friends in my cohort of old men, my household networth is just average. Those of my friends who bought landed property are way ahead with the surge in landed property prices. I remembered years ago they paid around $300k+ for them , spent some money to remodel their houses and now they are comfortably sitting on $4m - $5m properties.

By the way, the $5.5m was last year's figure. It has since grown to $5.8m. Each year that we work, we are able to save $300k+ (inclusive of passive income). Thats why I advocate not to retire too early. At the risk of sounding like a broken record player, the golden period to build up your wealth is from 55 to 65 years of age when your salary peaks and your liabilities taper off or zero liabilities.

Originally Posted by Unregistered

Why ********? There's this old man poster who claimed his combined net worth (he and his wife) is $5.5m in total. Do you think he is ********ting?

To own a condo and a car, both paid in full, is not impossible. If the couple are top performing professionals, not impossible for them to achieve this by the time they reach their fifties.

What's your net worth? What's your wife's net worth? Is it equally shared?

Originally Posted by Unregistered

Eh, dont bring me in into your argument. If you want to defend your claim you should provide further details of your networth to substantiate.

Do you guys find $5.5m a lot? Would you consider household with that networth wealthy? I think its a matter what your own networth is when you compare. Among my friends in my cohort of old men, my household networth is just average. Those of my friends who bought landed property are way ahead with the surge in landed property prices. I remembered years ago they paid around $300k+ for them , spent some money to remodel their houses and now they are comfortably sitting on $4m - $5m properties.

By the way, the $5.5m was last year's figure. It has since grown to $5.8m. Each year that we work, we are able to save $300k+ (inclusive of passive income). Thats why I advocate not to retire too early. At the risk of sounding like a broken record player, the golden period to build up your wealth is from 55 to 65 years of age when your salary peaks and your liabilities taper off or zero liabilities.

The reality of this life is that life in this world is short. The world is just a temporary abode. There is no need to compare with others. If you think you are rich, there will be many more people richer than you. If you think you are poor, there are billions of people who are poorer than you. Do you know that if you have a net worth of S$1m, you are probably in the top 1% of the world's population in terms of global net worth? We are fortunate to be Singaporeans. Just travel the world and you can see for yourself how lucky we are. We all take the plane like taking the bus, yet there are billions of people in this world who has never taken a plane before.

We don't divide our networth into mine and hers. We both don't have any "old" money when we married. That is, we didn't have any inheritance. What we have today is built up through 30 years of continuous employment, savings, investment and some luck.

I would think I have the majority share of our networth as my income has always been (much) higher than my wife throughout our married life together. When filling up the survey form whenever we bought financial products, we always divide up our networth equally.

Cash holding wise, my wife always has more because she doesn't pay for household expenses. She saved all her salary income. She will chip in when we invest or make big ticket item purchases eg car, property and stocks.

Originally Posted by Unregistered

What's your net worth? What's your wife's net worth? Is it equally shared?

Have you ever dreamt of living in a big bungalow with swimming pool?

Originally Posted by Unregistered

We don't divide our networth into mine and hers. We both don't have any "old" money when we married. That is, we didn't have any inheritance. What we have today is built up through 30 years of continuous employment, savings, investment and some luck.

I would think I have the majority share of our networth as my income has always been (much) higher than my wife throughout our married life together. When filling up the survey form whenever we bought financial products, we always divide up our networth equally.

Cash holding wise, my wife always has more because she doesn't pay for household expenses. She saved all her salary income. She will chip in when we invest or make big ticket item purchases eg car, property and stocks.

Wealth should be adjusted against age to determine how well one life is. A person attaining $5m only when he reaches age 55 versus someone who can do so when he's 40 is very different. Time on this world is limited to everyone, and being able to enjoy one's wealth while still young is happiness versus someone who had to work his whole life to achieve wealth at older age, but had limited time and health to enjoy his rewards. Our body ages as we grow old and it is not reversible no matter how much wealth we achieve later in life. Wealth is a journey not an end so most importantly do something you like you life and build your wealth as you progress and enjoy the fruits of your labour along the way.

Actually there are many wealthy people in Singapore. Lots of money locked in properties. Just drive around private estates in districts 9-11 can see already. Not surprising some of them are on this forum.

This thread is about how much you earn per annum... But all come in to flaunt weath or try to act like consultants telling ppl how they sld spend/save their money. Or At what age sld they retire.

Jus stick to the thread and tell ppl how much u earn, what is ur job scope, and how many years of experience.

Was just talking with my colleagues about retirement and networth the other day. Among us, those whose wives were housewives, said they cannot afford to retire before 65. Those of us whose wives are working felt we could retire if we wanted to.

The debate about whether the children will lose out academically or become latchkey children when both parents are working versus one parent staying at home to bring them up is not conclusive. There is no clear trend either way.

However what is clear is that when both husband and wife works, the household networth is much higher than when one spouse is a stay at home partner. Just imagine, if the household can survive just based on a single income, then the household with dual income will minimally save the full income of one of the spouses.

So, for a wife who earns an income of $100k pa and saves the full amount for 30 years, that will be $3m in 30 years when they are 55.

That explains why among those of us whose wives are working, we could afford to retire at 55 if we wanted to.

Early 40s, only me and my wife, no kids. Stay in condo, 2 cars.
Invest my own money, both of us not working anymore.
Made my money through own business, not inheritance or lottery.
$250-450k a year depending on market performance. All passive income.

I know I am lucky but in Singapore, I don't feel rich.