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-   -   How much savings do you have? (https://forums.salary.sg/investments-net-worth/1199-how-much-savings-do-you-have.html)

toto 10-11-2015 06:42 PM

Quote:

Originally Posted by Unregistered (Post 74921)
How old are they? Where do they get the money to pay for household expenses? Do they have passive income or they draw down on their savings?

60+. From savings..

Unregistered 10-11-2015 06:59 PM

Quote:

Originally Posted by toto (Post 74923)
60+. From savings..

What's your household expenses like per month?

168 10-11-2015 07:02 PM

Quote:

Originally Posted by toto (Post 74917)
They are not working and I have a sister who is still studying. I also wish my parents have the ability to pay for my studies :(

In your 20s low savings is ok as long as you work hard and make sacrifices to gain valuable skills that are relevant to the market and not some dead end job.

In your 30s then build up a strong financial base which you can then leverage wisely in your 40s to get wealthy and gain financial freedom by 50.

toto 10-11-2015 07:35 PM

Quote:

Originally Posted by Unregistered (Post 74924)
What's your household expenses like per month?

Hmm.. I don't know?

toto 10-11-2015 07:37 PM

Quote:

Originally Posted by 168 (Post 74926)
In your 20s low savings is ok as long as you work hard and make sacrifices to gain valuable skills that are relevant to the market and not some dead end job.

In your 30s then build up a strong financial base which you can then leverage wisely in your 40s to get wealthy and gain financial freedom by 50.

Thanks for the advice. I will work hard for my future.

Unregistered 10-11-2015 09:24 PM

Quote:

Originally Posted by toto (Post 74930)
Hmm.. I don't know?

I suppose they have enough to provide food for everyone at home, including you? They must have lots of savings to last them until 85 at least. If annual expenses is $30k pa, if they need for 25 years, their savings should be $750k. What were they doing before retirement? Were they office workers or doing business? Do you live in a 4 or 5 room HDB flat?

Unregistered 10-11-2015 09:43 PM

35 years old with 770k. Have a 100k per annum job. Don't own a car. Only a 5 room HDB. Savings rate already over 100 percent as the returns from my investment is enough for my expenditure.

Unregistered 10-11-2015 10:29 PM

Quote:

Originally Posted by Unregistered (Post 74935)
35 years old with 770k. Have a 100k per annum job. Don't own a car. Only a 5 room HDB. Savings rate already over 100 percent as the returns from my investment is enough for my expenditure.

How much does your wife earn?

Unregistered 10-11-2015 11:03 PM

Quote:

Originally Posted by Unregistered (Post 74936)
How much does your wife earn?

Wife is not working.

Unregistered 11-11-2015 01:07 AM

I am 45, married with about 8m in net worth. We both don't work, live off passive income from investments. No children so we have little commitments. Travel a lot though and spend time with family and friends.


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