How much savings do you have? - Page 3 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Investments and Net Worth

Investments and Net Worth Talk all about money making exploits, shares, property and building net worth




How much savings do you have?

Reply
 
Thread Tools
  #21 (permalink)  
Old 02-02-2011, 10:08 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Ok, this is mine and its the honest truth.

Me - 31 yr old
wife - 29 yrs old

cash - 40k
stock - 0k
car - worth 90k now - 50k of loan left
condo - worth 1.2 mil...700k of loan left
commercial property - worth 300k - 200k of loan left

is this stupid? with so little cash

I am the one who post the above.

I remember saving only 300 dollars every month for the first 2 years of work.
could only save up on bonuses....and it was 4 months of bonus. so how did the guy who post after me save so much in a year???

Reply With Quote
  #22 (permalink)  
Old 02-02-2011, 10:20 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I am the one who post the above.

I remember saving only 300 dollars every month for the first 2 years of work.
could only save up on bonuses....and it was 4 months of bonus. so how did the guy who post after me save so much in a year???
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.

Reply With Quote
  #23 (permalink)  
Old 02-02-2011, 11:36 AM
Unregistered
Guest
 
Posts: n/a
Default

I am quite lucky as I have a good bonus (cash and stocks) and healthy increments. Base pay to start off is quite high also. I travel a fair bit, so on other company's TE, so that explains why I can save more =)

I am a normal Singaporean boy, not a superstar. My friends who are IBs and lawyers earn more than me, but I am satisfied. I live a very normal lifestyle and I enjoy it. I save $$$ to buy property and use it as my investment vehicle. Both properties have since gained value from the point I bought them. I am not a speculator but am put off by the governments' tough measures and will diversify soon, to the dismay of my tenants as I am a good landlord.

My advise is to see property as investment and not love nest, and to cut down on unnecessary expenses and to save up as soon as possible so that you have more options. Do an audit If you do not have high salary, it's imperative that you start earlier, so that you will spend less time in the rat race.

Just my 2 cents. Hope this helps all of you.

Reply With Quote
  #24 (permalink)  
Old 02-02-2011, 11:39 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I am the one who post the above.

I remember saving only 300 dollars every month for the first 2 years of work.
could only save up on bonuses....and it was 4 months of bonus. so how did the guy who post after me save so much in a year???
I find that owning a car is an necessary expense for me. Without that, I can easily save $1000/month. I feel difficult to convince myself to owning one still when I am in Singapore.
Reply With Quote
  #25 (permalink)  
Old 02-02-2011, 11:45 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
there are... office spaces (1000 sq ft) at launch prices from developers
Any more good deals like this now? You must have made a lot from this if you divest now. rental should be holding up too.
Reply With Quote
  #26 (permalink)  
Old 02-02-2011, 11:57 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Ok, this is mine and its the honest truth.

Me - 31 yr old
wife - 29 yrs old

cash - 40k
stock - 0k
car - worth 90k now - 50k of loan left
condo - worth 1.2 mil...700k of loan left
commercial property - worth 300k - 200k of loan left

is this stupid? with so little cash
Properties are not very liquid in times of emergencies.
Reply With Quote

  #27 (permalink)  
Old 03-02-2011, 01:50 PM
Unregistered
Guest
 
Posts: n/a
Default

Wife and I both mid 30s

Condo - worth 1.8m 400k loan left
Cash 550k
Stocks 1m
Reply With Quote
  #28 (permalink)  
Old 03-02-2011, 09:55 PM
Unregistered
Guest
 
Posts: n/a
Default

Just divested over the CNY, current status is

Cash: 175K
Stocks:50K
CPF:130K
Condo: Worth 1.1 M (loan left 800K)

Will be channeling more cash into the stock market and waiting for the right moment to divest the other property, and then enter the property market again. Should be selling the other one before the next measure.

Happy CNY!

Quote:
Originally Posted by Unregisteredtounreg View Post
Wow how did you manage to get a commercial property at 300K?

Mine (honest truth)

Age: 31(me)/28(wife)

Cash: 25K
Stocks: 50K
Condo: Worth 900K (loan left 500K)
Condo: Worth 1.1 M (loan left 800K)

Easy to save for down payment before start of cool down measures. I save around 50K every year ever since graduation.
Reply With Quote
  #29 (permalink)  
Old 03-02-2011, 09:56 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I find that owning a car is an necessary expense for me. Without that, I can easily save $1000/month. I feel difficult to convince myself to owning one still when I am in Singapore.
I find myself unable to give up the car too.
Sigh.
That's giving up 2k+ worth of savings per month. Sad.
Reply With Quote
  #30 (permalink)  
Old 04-02-2011, 06:22 PM
Unregistered
Guest
 
Posts: n/a
Default

I am 34.

Cash: 159k
UT & Stocks: 0 at the moment.

sigh... actually in year 2010 (last year), my total expenses were around $80-100k. Otherwise, I would have $250k now.

Have been working for 10 years and actually could have saved $1k per mth easily, and that would mean about $120k till now. And the total projected savings should be $370k at current age.

Impossible? Not really. As mentioned, it is possible to save $1k per mth, and based on current age (10 years later), I will have $120k. Nothing surprising. I don't drive, don't smoke, social drinker. But during my early years of working, I indulged in gambling and lost every single cent I earned. Greed is the common word here.

Up to four years ago, my bank account was only $20k, but something very fortunate happened to me: the financial meltdown in 2008. I bought 3 lots of las vegas at $1.50 and sold them recently at $50 - which explains my current cash holdings at $159k.

I'm sorry for those who suffered during the crisis, but it brought me new life and I am treasuring it more.
Reply With Quote
Reply

Bookmarks

Tags
condo, cpf, house, retirement, savings, shares, stocks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Not enough savings for retirement Salary.sg Investments and Net Worth 0 14-05-2007 07:59 PM

» 30 Recent Threads
For those with 2-5 YOE, what is... ( 1 2 3... Last Page)
489 Replies, 95,149 Views
GovTech ( 1 2 3... Last Page)
1,755 Replies, 489,681 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
2,146 Replies, 639,548 Views
Suitable job recommendations
3 Replies, 193 Views
Mid career switch - social worker
4 Replies, 2,138 Views
Cybersecurity/Info security career ( 1 2 3... Last Page)
354 Replies, 66,279 Views
Lawyer Salary ( 1 2 3... Last Page)
15,658 Replies, 5,382,081 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
2,837 Replies, 2,237,490 Views
Htx ( 1 2 3... Last Page)
62 Replies, 8,633 Views
Cpf senior manager ( 1 2)
10 Replies, 2,877 Views
Changi Airport Group ( 1 2 3... Last Page)
446 Replies, 420,937 Views
Singtel Management Associate... ( 1 2 3... Last Page)
532 Replies, 192,905 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,089 Replies, 800,574 Views
NUS (National University of... ( 1 2 3... Last Page)
163 Replies, 137,070 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
5,302 Replies, 1,700,186 Views
CSA (Cyber Security Agency) ( 1 2 3... Last Page)
393 Replies, 134,368 Views
Work culture in IHiS ( 1 2 3... Last Page)
216 Replies, 166,154 Views
High Finance Thread ( 1 2 3... Last Page)
489 Replies, 146,919 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
4,216 Replies, 1,982,463 Views
Compare civil service salary ( 1 2 3... Last Page)
13,382 Replies, 7,904,768 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
4,509 Replies, 2,770,334 Views
OCBC Graduate Talent Programme... ( 1 2 3... Last Page)
956 Replies, 319,125 Views
Career as Teacher ( 1 2 3... Last Page)
4,359 Replies, 2,823,408 Views
infosys, cognizant ( 1 2 3... Last Page)
36 Replies, 3,398 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
3,200 Replies, 1,382,100 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
640 Replies, 503,069 Views
ST Electronics ( 1 2 3... Last Page)
2,487 Replies, 696,118 Views
Standard Chartered International... ( 1 2 3... Last Page)
127 Replies, 86,276 Views
DBS tech seed programme ( 1 2 3... Last Page)
1,293 Replies, 361,660 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 01:05 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2