How much are you earning per annum?

Thank you for sharing. We can't save $100k pa as our income is not that high and we have lots of obligations. Our combined income is only $140k pa while our expenses amount to $110k pa. Most of our expenses go to supporting both our parents financially and on the kids. We want to give the best for our kids so that that will be successful in life.

How do you save so much? Don't you have parents to support? We give about 25% of our income to our parents. How about you?

Originally Posted by Unregistered

I thought the more important question is how do you see your net worth growing. For eg., what will it be when you hit 55?

Let's say you are now 42, and your combined net worth is $1.7m, and if on average, you and spouse are able to squirrel away $100k a year. In 15 yrs time, you will have another $1.5m bringing your total net worth to $3.2m.

For our case, our rate of savings was around $100k a year from age 40 - 45. From 45 - 50 it was $180k pa on average. Then 50-55 it hit $250k pa. The higher savings came with the help from passive income of about $50k pa. This year (1 more month to go), we will save a total of $300k pa. Our highest by far.

58 & 55 year old retired corporate exec couple in the investment banking sector. Sold our landed property (fully paid) last year and bought 3 condos (fully paid) - one for my wife and I (our retirement home), one for my son (banker) and one for my daughter (lawyer). Decided to give part of our wealth to our kids now rather than wait till we die. Let them enjoy earlier.

Our children are so happy that they each gives us $2k pm in allowance or $48k pa. Our passive income from our investments $120k pa. So total passive income $168k pa. Our expenditure is $68k pa. We save $100k pa. Our investments in our career, stocks, landed property and even children (not expecting anything from them actually) have paid off nicely.

With the year end bonus to be received by workers next month, demand for new cars will rise significantly.

Cat A COE will most likely rise to $72,000 at least while Cat B will likely rise to $75,000 at least in the first Dec bidding. In the 2nd Dec bidding, Cat A will likely rise further to $76,000 while Cat B will rise to $80,000.

By Dec 2015, Cat A should rise to $90,000 while Cat B should rise to $95,000.

Cat A and Cat B COEs reached $90,000 plus in Jan 2013 and this should be achieved again soon.

The high demand for new cars are due to many factors such as:

1. 100,000 current car owners changing to new cars in 2015.

2. Another 100,000 current car owners changing to new cars in 2016.

3. Rise in salaries over the last 10 years. A dual income family would have witnessed a big increase in their household income over the last 10 years.

4. Rise in property prices over the last 10 years which allows many families to flip their BTO flats and make profits of at least $150,000 or more.

5. Young graduates earning more over the last 10 years.

6. Increase in population and aspiring car owners.

7. NEW cars are STATUS SYMBOLS.

8. Many families owning more than one car. Many have two cars while others can have 3 or 4 cars in a household.

9. Cars as a percentage of family's wealth is now smaller. 10 years ago, a family's net worth could be $500,000 and a $100,000 car is 20% of net worth. Today, the family's net worth could rise to $1m and so the $100,000 car is only 10% of net worth so it is more affordable.

10. Cars as a percentage of household income is now smaller. 10 years ago, a family's household income could be $50,000 pa and the $100,000 car is 2x annual income. Today, the family's household income could be $100,000 and the $100,000 car is only 1x annual income. So cars are becoming more affordable today.

Originally Posted by Unregistered

58 & 55 year old retired corporate exec couple in the investment banking sector. Sold our landed property (fully paid) last year and bought 3 condos (fully paid) - one for my wife and I (our retirement home), one for my son (banker) and one for my daughter (lawyer). Decided to give part of our wealth to our kids now rather than wait till we die. Let them enjoy earlier.

Our children are so happy that they each gives us $2k pm in allowance or $48k pa. Our passive income from our investments $120k pa. So total passive income $168k pa. Our expenditure is $68k pa. We save $100k pa. Our investments in our career, stocks, landed property and even children (not expecting anything from them actually) have paid off nicely.

Sounds like a troll

Congrats? How many bankers made big bucks from selling junk bonds and lehman bonds. enjoy here on earth. judgement will come later.

Originally Posted by Unregistered

58 & 55 year old retired corporate exec couple in the investment banking sector. Sold our landed property (fully paid) last year and bought 3 condos (fully paid) - one for my wife and I (our retirement home), one for my son (banker) and one for my daughter (lawyer). Decided to give part of our wealth to our kids now rather than wait till we die. Let them enjoy earlier.

Our children are so happy that they each gives us $2k pm in allowance or $48k pa. Our passive income from our investments $120k pa. So total passive income $168k pa. Our expenditure is $68k pa. We save $100k pa. Our investments in our career, stocks, landed property and even children (not expecting anything from them actually) have paid off nicely.

Originally Posted by Unregistered

With the year end bonus to be received by workers next month, demand for new cars will rise significantly.

Cat A COE will most likely rise to $72,000 at least while Cat B will likely rise to $75,000 at least in the first Dec bidding. In the 2nd Dec bidding, Cat A will likely rise further to $76,000 while Cat B will rise to $80,000.

By Dec 2015, Cat A should rise to $90,000 while Cat B should rise to $95,000.

Cat A and Cat B COEs reached $90,000 plus in Jan 2013 and this should be achieved again soon.

The high demand for new cars are due to many factors such as:

1. 100,000 current car owners changing to new cars in 2015.

2. Another 100,000 current car owners changing to new cars in 2016.

3. Rise in salaries over the last 10 years. A dual income family would have witnessed a big increase in their household income over the last 10 years.

4. Rise in property prices over the last 10 years which allows many families to flip their BTO flats and make profits of at least $150,000 or more.

5. Young graduates earning more over the last 10 years.

6. Increase in population and aspiring car owners.

7. NEW cars are STATUS SYMBOLS.

8. Many families owning more than one car. Many have two cars while others can have 3 or 4 cars in a household.

9. Cars as a percentage of family's wealth is now smaller. 10 years ago, a family's net worth could be $500,000 and a $100,000 car is 20% of net worth. Today, the family's net worth could rise to $1m and so the $100,000 car is only 10% of net worth so it is more affordable.

10. Cars as a percentage of household income is now smaller. 10 years ago, a family's household income could be $50,000 pa and the $100,000 car is 2x annual income. Today, the family's household income could be $100,000 and the $100,000 car is only 1x annual income. So cars are becoming more affordable today.

Hey, which showroom do you work at?

Thanks for the insights. I got my COE last month before prices started to rise. I have the same analysis as you, that was why I changed to a new car. What you said about rising income is true. 10 years ago I was in my mid 30s and our family income was not that high. Today our family income almost doubled. We have no problem paying for a new car.

Originally Posted by Unregistered

With the year end bonus to be received by workers next month, demand for new cars will rise significantly.

Cat A COE will most likely rise to $72,000 at least while Cat B will likely rise to $75,000 at least in the first Dec bidding. In the 2nd Dec bidding, Cat A will likely rise further to $76,000 while Cat B will rise to $80,000.

By Dec 2015, Cat A should rise to $90,000 while Cat B should rise to $95,000.

Cat A and Cat B COEs reached $90,000 plus in Jan 2013 and this should be achieved again soon.

The high demand for new cars are due to many factors such as:

1. 100,000 current car owners changing to new cars in 2015.

2. Another 100,000 current car owners changing to new cars in 2016.

3. Rise in salaries over the last 10 years. A dual income family would have witnessed a big increase in their household income over the last 10 years.

4. Rise in property prices over the last 10 years which allows many families to flip their BTO flats and make profits of at least $150,000 or more.

5. Young graduates earning more over the last 10 years.

6. Increase in population and aspiring car owners.

7. NEW cars are STATUS SYMBOLS.

8. Many families owning more than one car. Many have two cars while others can have 3 or 4 cars in a household.

9. Cars as a percentage of family's wealth is now smaller. 10 years ago, a family's net worth could be $500,000 and a $100,000 car is 20% of net worth. Today, the family's net worth could rise to $1m and so the $100,000 car is only 10% of net worth so it is more affordable.

10. Cars as a percentage of household income is now smaller. 10 years ago, a family's household income could be $50,000 pa and the $100,000 car is 2x annual income. Today, the family's household income could be $100,000 and the $100,000 car is only 1x annual income. So cars are becoming more affordable today.

Originally Posted by Unregistered

Thanks for the insights. I got my COE last month before prices started to rise. I have the same analysis as you, that was why I changed to a new car. What you said about rising income is true. 10 years ago I was in my mid 30s and our family income was not that high. Today our family income almost doubled. We have no problem paying for a new car.

Hmmm... And which car showroom are you from? Same or different than the earlier one?

Probably the same person who is trying to spread fear by telling everyone that COE will rise. But the fact is that with the avalanche of COEs coming up, it will drop like a rock back to $30k.
Just have to be patient.

Originally Posted by Unregistered

Probably the same person who is trying to spread fear by telling everyone that COE will rise. But the fact is that with the avalanche of COEs coming up, it will drop like a rock back to $30k.
Just have to be patient.

Hi, our family has two old cars which need to be replaced with two new ones, both about one year to go. I hope your prediction of $30k COE is right. Until when should we wait?