wow. what does you and your wife do to earn so much at 36?

By defination of debt free, it means I would like to have sufficient cash to pay off loans if I need to.
However I do agree with your idea of passive income. Just that houses are expensive for this route nowadays.

27 years old this year

stocks :100k
cash :5k

manage to save this 100k when I change job from a engineer 2 years ago into front line banking.. Had $0 in my bank account when I change into banking

You really made the right move.. I've been engineering for 10 years... my savings also $0.. How did you managed to enter banking?? Can help save a fellow engineer from hell??

41, male

$160k 401k (maximizing annual limit)
$40k pension
$3k roth ira (maximizing annual limit)
$5k savings
$80k mortgage for $170k townhome
no other debt

tip: prolong marriage and kids

401k? Are you from USA? Your houses are super cheap compared to ours in Singapore! Our smallest government apartments cost at least $200k SGD each, and they are tiny in size.

Hi,

I'm a singaporean based in the US too. Just started working here. Are you planning to get a green card? If i'm not planning to get one, would you still recommend taking advantage of the 401k, IRA etc.? Right now I'm close to maximizing my first year Roth IRA contribution, and am wondering whether I should plough more money into my 401k. At present I'm contribution 12%, split half and half between traditional and roth, but am looking to increase that to 16%. Would you recommend traditional or roth or neither?

Thanks.
Singaporean in Boston.

All,

Interesting reads, esp from common_man. Good, hard working guy. You are lucking that you and your wife both work. I am same age as common_man ... maybe we know each other in primary school. :)

My honest situation:

50 (me), 42 (wife - not working), 3 teenage kids (16, 15, 11)

Condo (staying in) - $1.2m (paid up)
Cash - $200K
Stock - abt $1.1m
CPF - Ord $290K, Sp abt $120K, SRS abt $55K
Car - Jap 6yr old, paid-up, value left abt $28K, I think

To add more:

Passive income: abt $5.5K/mth
Income abt $12K/mth
CPF interest - not sure/yr

Hi, I am posting anonymously but I would like any constructive advice from any of you, not necessarily in financial planning. I will appreciate a tip or two from men around my age or older on how to manage my life from this point onwards. My wife and I are in our mid 40s.

Assets
- 3 private properties (includes the one we live in) worth about $4.5M, 2 totally paid up and one with a $1M mortgage outstanding
- $1M in the bank and some stocks
- 2 simple cars with no or minimal loans
- Nett business income $1M-$1.5M a year after tax
- 2 boys still in primary school, doing above average - I would like to send them abroad to study mainly for the more global exposure

We have no expensive hobbies, no parties or horse riding or watches or wines. We eat mostly at home or at coffeeshops and sometimes at a cafe. Almost no one knows how much we make because we dress very simply and do not talk about money very much.

If you are posting in response to me, please address your post to MeePokMan.

Grateful for your time. : )