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How much savings do you have?

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  #241 (permalink)  
Old 06-04-2012, 07:23 PM
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Default Happy

3 properties - one big landed, 2 condos

looking for another property

live a simple life

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  #242 (permalink)  
Old 07-04-2012, 09:45 AM
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Default 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



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  #243 (permalink)  
Old 07-04-2012, 06:30 PM
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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

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  #244 (permalink)  
Old 09-04-2012, 05:01 PM
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Quote:
Originally Posted by Unregistered View Post
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.
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  #245 (permalink)  
Old 10-04-2012, 07:26 AM
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Quote:
Originally Posted by Unregistered View Post
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?
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  #246 (permalink)  
Old 10-04-2012, 10:32 AM
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Quote:
Originally Posted by Unregistered View Post
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?
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  #247 (permalink)  
Old 10-04-2012, 10:30 PM
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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!


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  #248 (permalink)  
Old 11-04-2012, 10:34 AM
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Quote:
Originally Posted by Unregistered View Post
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????
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  #249 (permalink)  
Old 11-04-2012, 09:35 PM
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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'
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  #250 (permalink)  
Old 13-04-2012, 05:12 PM
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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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