monthly - $7k (my wife saves all of hers)
Other assets <$5k .. yes, hardly any o.O Why? I bear all cost for kids/car loan/utilities etc My wife better off than me o.O as she keeps her salary/rental income etc..... House/condo/shophouse (under her name) - $6m~$8m cash/stock/share - IDK... nvr ask. So, yes, she's from a well to do family. But as I a man, i need to bring in the bread and butter. And I'm proud of it, although my net worth is miserably low....... |
Average Family
Omg…How could you guys be saving THAT MUCH???
I am female, hitting 30 this year, Local Uni Grad…Annual Income about $70K (is this considered ok??) After deduction of CPF and monthly expenses, I only save about $25K a month… And the first few years of work, I barely save much as I was earning a pittance…. Now I only have about $85K in cash…oh dear! Think about it this way, given a combined income of $10K, with 2 kids and a car and a maid, how much can a couple save?? If you include about $1000 to parents ($500 each side), plus insurance for the whole family…I think we are looking at only about $3000 in savings… |
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I think a couple with kids needs to earn combined at least 16k to be able to build up retirement savings comfortably. |
Average Family
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Your world will be different with children. You won't understand until you experience it yourself. Seeing your friends' children or your nieces and nephews are different. |
Average Family
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And I do think that's fairly reasonable... |
Average Family
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I know, a few of my friends who have kids told me the same too...But they also did tell me the truth regarding sleepless nights, $$ out and stress increasing with kids...Anyway it's a personal choice at the end of the day...I know fairly well if I do have a kid or two...my savings will definitely diminish...Either that or I have to cut back on holidays (maybe once in 5 years) ...We are not even driving a 'premium' car now...It's only a Jap model...7 years old... And I definitely will not be able to hit the amount of savings most pple in this forum claim to have....Childcare rates are about $1000 a mth now (for the slightly more premium chains)...Even if I send them to a 'normal' childcare, it would cost $500...and if I have 2 kids, it would be $1000!....Most likely I have to hire a maid if I have kids, so that would be about $600 gone...(excluding the expenses for the maid like food etc)... Not to mention I would have to save another $50K for my kids education (assuming they are hardworking and make it to a local Uni)...if not, I have to cough out another $100K+ for their overseas education....:( True? |
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