Salary.sg Forums

Salary.sg Forums (https://forums.salary.sg/)
-   Investments and Net Worth (https://forums.salary.sg/investments-net-worth/)
-   -   How much savings do you have? (https://forums.salary.sg/investments-net-worth/1199-how-much-savings-do-you-have.html)

Unregistered 03-06-2016 05:25 PM

Early 20's, about $3k savings left after being jobless for 4 months.

Unregistered 04-06-2016 08:35 PM

31 and 29

before marriage 100k
after marriage 30k for wedding and 60k for renovation.
left 10k. broke but have a great wedding and a cozy home.

Unregistered 04-06-2016 09:05 PM

28 years old, 20K savings, single. Still paying my uni loan.

lazyplane 06-06-2016 10:52 AM

Quote:

Originally Posted by Unregistered (Post 86633)
31 and 29

before marriage 100k
after marriage 30k for wedding and 60k for renovation.
left 10k. broke but have a great wedding and a cozy home.

That is rather the normal. It will be bumpy and your savings will be see sawing with life journeys (eg kids, car, parents etc).

But enjoying the journey is truly impt

Unregistered 06-06-2016 08:01 PM

Quote:

Originally Posted by lazyplane (Post 86672)
That is rather the normal. It will be bumpy and your savings will be see sawing with life journeys (eg kids, car, parents etc).

But enjoying the journey is truly impt

yes enjoying the journey is the most impt for both of us. We hope we are still doing ok with 10k savings after these 2 milestones.

what is the normal amount that people have after marriage and HDB?

lazyplane 07-06-2016 08:52 AM

Quote:

Originally Posted by Unregistered (Post 86703)
yes enjoying the journey is the most impt for both of us. We hope we are still doing ok with 10k savings after these 2 milestones.

what is the normal amount that people have after marriage and HDB?

Normal ? Super -ve networth (if you just consider your HDB debt) vs your free cashflow. My rationale is that HDB "value" is not an asset that can be monetise to free cash flow. Even if u sell, you need to find another place to stay and hence still cash negative.

However, the HDB is a real liability as it has to be paid and will hit CPF savings and free cashflow and will impact networth building.

From now til you achieve a real free cashflow (ie excess cash above your HDB debt), there are many paths to building your networth.

Most conservative - Repay HDB debt aggressively and build CPF to earn interest.

Aggressive - Invest in equities etc.

Super aggressive - Buy another home for rental . Not for the faint hearted especially in these days. May also not be best option now.

The good thing is everyone is on the same track unless they have inheritance.

Unregistered 07-06-2016 12:35 PM

Quote:

Originally Posted by lazyplane (Post 86714)
Normal ? Super -ve networth (if you just consider your HDB debt) vs your free cashflow. My rationale is that HDB "value" is not an asset that can be monetise to free cash flow. Even if u sell, you need to find another place to stay and hence still cash negative.

However, the HDB is a real liability as it has to be paid and will hit CPF savings and free cashflow and will impact networth building.

From now til you achieve a real free cashflow (ie excess cash above your HDB debt), there are many paths to building your networth.

Most conservative - Repay HDB debt aggressively and build CPF to earn interest.

Aggressive - Invest in equities etc.

Super aggressive - Buy another home for rental . Not for the faint hearted especially in these days. May also not be best option now.

The good thing is everyone is on the same track unless they have inheritance.

hdb loan at 250k. cpf 30k. so we are -210k nett savings

Unregistered 10-06-2016 12:30 AM

28 years old.

Cash In bank = $35,000

CPF = $72,000

Monthly Gross Salary = $2800

Annual Bonus = $11,000

Qualification = Diploma holder

Currently working in Civil Service.

Unregistered 10-06-2016 01:44 AM

these last few posts of young singaporeans savings are surprisingly low. given the gloomy economic outlook, life is going to be tougher for all.

GDP is dwindling Quarter to Quarters and govt is trying to keep GDP growth by getting people to get into to more debts diving in to buying cars with lower upfront payment and increasing loan quantum.

I wonder what will become of young overstretched Singaporeans heavily DEBT Ridden.......

Unregistered 10-06-2016 10:59 PM

Quote:

Originally Posted by Unregistered (Post 86916)
these last few posts of young singaporeans savings are surprisingly low. given the gloomy economic outlook, life is going to be tougher for all.

GDP is dwindling Quarter to Quarters and govt is trying to keep GDP growth by getting people to get into to more debts diving in to buying cars with lower upfront payment and increasing loan quantum.

I wonder what will become of young overstretched Singaporeans heavily DEBT Ridden.......

To build up savings efficiently, best is to go for savings plan + FD + bonds. Seen pple buying one savings plan every three years. Within 10 to 20 years, reap all returns.

FD and bonds are also safe sure win bets.


All times are GMT +8. The time now is 09:07 AM.

Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2