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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)

Unregistered 06-04-2012 07:23 PM

Happy
 
3 properties - one big landed, 2 condos

looking for another property

live a simple life

Unregistered 07-04-2012 09:45 AM

average couple
 
graduate couple, early thirties
combined income 150K
one condo (home)
another property (rented out)
negligible cash after purchasing the other property

Alright but not particularly happy

Unregistered 07-04-2012 06:30 PM

curious, where do you get all your wealth from?

do you have initial wealth or working in really good jobs?

always wondered how come people had so much assets. please share.

am a early twenties kid. still in school.

thanks:)

Unregistered 09-04-2012 05:01 PM

Quote:

Originally Posted by Unregistered (Post 23422)
graduate couple, early thirties
combined income 150K
one condo (home)
another property (rented out)
negligible cash after purchasing the other property

Alright but not particularly happy

To answer your question.

I'm not that well-off, as u can tell above. Also rather average salary for a graduate couple, would not say the job pays that well. Family is also average, we acquired both properties ourselves, did not borrow from relatives.

My assets were acquired the boring way: graduate, get a steady job, don't spend money unnecessarily e.g. don't keep upgrading your lifestyle/holidays/cars/shopping as your income increases, save money, find a good investment opportunity within budget, don't be afraid to invest. Maintain a good credit rating, this enabled us to get loans for property investments. Throughout it all, don't over-stretch your budget, ensure u are financially strong enough and cater for the event where there is no rental income for a few months.

The more spectacularly successful forumers can probably advise you better.

However considering the rather average salary of my spouse and I, we are doing alright though not fantastic. The more you can earn, the more disposable income you have for investments, the better you could do. I do admire those who have such high income, their life must be so comfortable. Good luck.

Unregistered 10-04-2012 07:26 AM

Quote:

Originally Posted by Unregistered (Post 23422)
graduate couple, early thirties
combined income 150K
one condo (home)
another property (rented out)
negligible cash after purchasing the other property

Alright but not particularly happy

Is the second property a mickey-mouse condo? It's all the rage recently. How much rent is it fetching?

Unregistered 10-04-2012 10:32 AM

Quote:

Originally Posted by Unregistered (Post 23520)
To answer your question.

I'm not that well-off, as u can tell above. Also rather average salary for a graduate couple, would not say the job pays that well. Family is also average, we acquired both properties ourselves, did not borrow from relatives.

My assets were acquired the boring way: graduate, get a steady job, don't spend money unnecessarily e.g. don't keep upgrading your lifestyle/holidays/cars/shopping as your income increases, save money, find a good investment opportunity within budget, don't be afraid to invest. Maintain a good credit rating, this enabled us to get loans for property investments. Throughout it all, don't over-stretch your budget, ensure u are financially strong enough and cater for the event where there is no rental income for a few months.

The more spectacularly successful forumers can probably advise you better.

However considering the rather average salary of my spouse and I, we are doing alright though not fantastic. The more you can earn, the more disposable income you have for investments, the better you could do. I do admire those who have such high income, their life must be so comfortable. Good luck.

that's not doing too badly. your net worth should be at least 1M?

Unregistered 10-04-2012 10:30 PM

Other than HDB and condo, there is another type of property. Nope, its not a shoebox unit. Rental yield shld increase to better than 5%, when I renew the tenancy agreement.

Net worth taking into account the debt (property loans), is much less than 1M. So I don't consider myself well off. Not yet.

Anyone with private property is a millionaire in SG, if u exclude the outstanding debt!

Unregistered 11-04-2012 10:34 AM

Quote:

Originally Posted by Unregistered (Post 23606)
Other than HDB and condo, there is another type of property. Nope, its not a shoebox unit. Rental yield shld increase to better than 5%, when I renew the tenancy agreement.

Net worth taking into account the debt (property loans), is much less than 1M. So I don't consider myself well off. Not yet.

Anyone with private property is a millionaire in SG, if u exclude the outstanding debt!

Landed????

Unregistered 11-04-2012 09:35 PM

Other than residential properties, there is one other large category of property.
Its so obvious ! Need I spell it out?

Anyway, this seems to be sidetracking from the topic 'how much savings do u have'

Unregistered 13-04-2012 05:12 PM

Quote:

Originally Posted by Unregistered (Post 9268)
Because he obviously talking cock lar. Here everyone can say what he like mah, either all of Singapore's best and brightest investment banker all posting in forums.salary.sg or we have a lot of losers who are trap in a rat race with no way to get out. So come here to fantasize lor.

agree with u


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