How much are you earning per annum?

Originally Posted by Unregistered

My fren have this scenario:

Husand Income: $120k pa (44 yrs)
Wife income: $110k pa (41 yrs)

Savings = $30k pa
Car paid up
5 room HDB flat fully paid up
2 bedrm private condo: loan $600k (intend to rent out)
Two schooling children around 10 yrs old

Combined HH (husband & wife) savings (CPF & cash) = $650k

Is it sufficient?

Of course sufficient as their Two kids can give them steady stream of allowance in 12 years time. This will generate another source of passive income.

Your friend is in the rich class group because he owns two properties and a car.
His HH income of $230k pa is very high as the median HH income is only $104k pa.

Originally Posted by Unregistered

My fren have this scenario:

Husand Income: $120k pa (44 yrs)
Wife income: $110k pa (41 yrs)

Savings = $30k pa
Car paid up
5 room HDB flat fully paid up
2 bedrm private condo: loan $600k (intend to rent out)
Two schooling children around 10 yrs old

Combined HH (husband & wife) savings (CPF & cash) = $650k

Is it sufficient?

Sole breadwinner earning $140k pa. 4 RM HDB flat, paid up. Household total net worth (i.e. HDB flat, cash and CPF savings) $1.1m. Luxury car, paid up. No debt. Cash savings $25k pa. 46 & 44 years old.

Daughter doing well in school due to good upbringing and close monitoring at home by spouse.

Is this a successful middle class profile?

Originally Posted by tanghao

32 this year.

I earn a basic of 5k a month. Then I work around 1 to 2 evenings a week for an additional 1.2k. Including bonus and all, around 90K per annum.

I work around 55 hours a week on an average. Finally a truthful post eh?

very curious.. what do you do on evenings to earn 1.2k a week?

Originally Posted by Unregistered

very curious.. what do you do on evenings to earn 1.2k a week?

I teach sideline tuition to Sec sch kids. Teach 2 kids in all.

Your profile is definitely considered a successful Upper middle class.

Your household income is above the median household income.

You have no debt, owns your home and car in full. You are also a millionaire household.

There are people your age still paying their mortgage, especially those who bought condo.

Originally Posted by Unregistered

Sole breadwinner earning $140k pa. 4 RM HDB flat, paid up. Household total net worth (i.e. HDB flat, cash and CPF savings) $1.1m. Luxury car, paid up. No debt. Cash savings $25k pa. 46 & 44 years old.

Daughter doing well in school due to good upbringing and close monitoring at home by spouse.

Is this a successful middle class profile?

Assistant Engineer (Diploma) ,first job after NS.

2016 income: $50k.

Originally Posted by Unregistered

Sole breadwinner earning $140k pa. 4 RM HDB flat, paid up. Household total net worth (i.e. HDB flat, cash and CPF savings) $1.1m. Luxury car, paid up. No debt. Cash savings $25k pa. 46 & 44 years old.

Daughter doing well in school due to good upbringing and close monitoring at home by spouse.

Is this a successful middle class profile?

you are very lucky no more loan to pay now interest rate going up better to have no loan those who buy property now worry because got to pay higher interest better keep cash

Upper middle class couple, 48 & 45. Combined income, $160k pa. Saves $30k pa cash.

Upper middle class lifestyle
- Eat at restaurants twice a week.
- Overseas holidays twice a year.
- Owns a good, reliable car. Paid up.
- Owns a 3 bedroom private condo, worth $900k. Paid up, using our CPF and cash.

Combined CPF $400k.
Combined Cash $100k.
Combined net worth $1.4 mil.

We plan to retire in ten years time.

How about you? What's your financial profile? When are you retiring?

Originally Posted by Unregistered

Upper middle class couple, 48 & 45. Combined income, $160k pa. Saves $30k pa cash.

Upper middle class lifestyle
- Eat at restaurants twice a week.
- Overseas holidays twice a year.
- Owns a good, reliable car. Paid up.
- Owns a 3 bedroom private condo, worth $900k. Paid up, using our CPF and cash.

Combined CPF $400k.
Combined Cash $100k.
Combined net worth $1.4 mil.

We plan to retire in ten years time.

How about you? What's your financial profile? When are you retiring?

Hey thanks for resurfacing this forum. I was away for the last 2 months and couldnt find this forum when I came back. Thought it had been removed or became dormant.

It is inevitable that the postings will become stale after a while as there is only so much variation in income and wealth of the typical Singaporean household. The very poor and the extremely wealthy will not be sharing here. So what we see posted here will be the bounds of the middle class Singaporean household.

Even then, when posters shared that their household incomes were above $400k pa, you get incredulous responses from readers. By any measure, household incomes of $400k pa or thereabout is within the bounds of the middle income class. People in the upper classes earn beyond $500k pa INDIVIDUALLY.

Likewise, household wealth of $5M is within the middle class range. The next bound would be household wealth of $10M and more - the upper middle class. The wealth of the upper classes start at $50M and above.

So why is it that readers prefer to believe postings of people with lower incomes and not of people sharing their higher incomes eg. $400k pa and above? Surely there are quite a lot of households with that kind of income and they do come here to share.

You get a couple, husband earns $250k pa, and wife earns $180k pa, already their household income is $430k pa. The husband or wife comes here and share their household income and everyone cries foul saying it is a bogus post. I mean, open your eyes people. There are a fair number of middle income households with this kind of incomes.

Furthermore, for older couples (eg those in their 50s), they would have meaningful (read significant) passive incomes eg $100k pa, their total household income would easily cross $500k pa.

I have shared my household income, networth and passive income here before and it was not believed. In a way, I am relieved.