How much are you earning per annum?

Wow! You're among the lucky top few. 80% of Singapore residents live in HDB flats (public housing) while the top 20% live in condos and landed properties (private accommodation). You're also free from any loans! You own a condo and a car! That's a big achievement! Well done! Enjoy your retirement, young man!

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?

[houmaidog]

26YO
48K (Includ Bonus)
Finance Industry

about 105k gross for last year.

28 yo, 4 yrs experience.

male. local uni.

not sure if that's very high, but i guess i'm comfortable.

[QUOTE=Unregistered;98402]about 105k gross for last year.

28 yo, 4 yrs experience.

male. local uni.

not sure if that's very high, but i guess i'm comfortable.[/QUOTE

That's rather good. May I know which industry are you in?

Originally Posted by Unregistered

about 105k gross for last year.

28 yo, 4 yrs experience.

male. local uni.

not sure if that's very high, but i guess i'm comfortable.

$105k pa is a respectable amount for anyone not to mention a 28 yo. If divided over 12 months, your monthly salary is $8.75k. There are about 2,200 people earning this salary at this age group - according to the MOM website. Good job.

The important thing now is to grow this income as well as build up your wealth. Many young people who earn well in their younger years got intoxicated with their high incomes and started to live the high life forgetting to save for the future. Nowadays iron rice bowl jobs that pay well are very rare. So it is always good to save and prepare for uncertainties.

If you have not done so, try and aim to save your first $1M. After the first $1M is achieved, the subsequent millions become easier to reach especially when you invest it - that is, make your money work for you. Investment helps you build up other sources of income.

In our case, our passive income sources have given us over $1M in accumulated total over the last 6 years. We are still working and aiming to hit $8M in networth by our 60th birthday.

Slow and steady.

Thanks for the good advice. Can you share what do you intend to do with all your wealth? Are you going to donate them away to charity, just like the many rich and generous billionaires are doing? Or are you giving all to your children? Do you plan to upgrade your home?

Originally Posted by Unregistered

$105k pa is a respectable amount for anyone not to mention a 28 yo. If divided over 12 months, your monthly salary is $8.75k. There are about 2,200 people earning this salary at this age group - according to the MOM website. Good job.

The important thing now is to grow this income as well as build up your wealth. Many young people who earn well in their younger years got intoxicated with their high incomes and started to live the high life forgetting to save for the future. Nowadays iron rice bowl jobs that pay well are very rare. So it is always good to save and prepare for uncertainties.

If you have not done so, try and aim to save your first $1M. After the first $1M is achieved, the subsequent millions become easier to reach especially when you invest it - that is, make your money work for you. Investment helps you build up other sources of income.

In our case, our passive income sources have given us over $1M in accumulated total over the last 6 years. We are still working and aiming to hit $8M in networth by our 60th birthday.

Slow and steady.

I am planning to donate to you since u are so concern.

Originally Posted by Unregistered

Thanks for the good advice. Can you share what do you intend to do with all your wealth? Are you going to donate them away to charity, just like the many rich and generous billionaires are doing? Or are you giving all to your children? Do you plan to upgrade your home?

Originally Posted by Unregistered

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.

I believe you. I am 50, single bread winner in my HH with a networth of slightly over SGD8m. My passive income last year (excluding CPF) was about SGD180k, generated from dividend, interest and HDB rental income. Please share again your HH income, networth and passive income. More importantly what do you invest in to generate your passive income. Thanks.

Originally Posted by Unregistered

I believe you. I am 50, single bread winner in my HH with a networth of slightly over SGD8m. My passive income last year (excluding CPF) was about SGD180k, generated from dividend, interest and HDB rental income. Please share again your HH income, networth and passive income. More importantly what do you invest in to generate your passive income. Thanks.

But I dont believe you.

Work and save harder little boy, then you would believe that you can do it.

Originally Posted by Unregistered

But I dont believe you.