Originally Posted by Unregistered (Post 47807)

Dont know what job you and your friends are having but dont mislead the people here. On average the relatively successful grad couples should have 12 million net worth by 40 years old. It is no big deal and if you cant hit that, you need to rework your portfolio. I based this on what my peers and I are having.

Originally Posted by Unregistered (Post 47556)

Hmm not really, we took a HDB loan so it'll be deducted from our cpf. Luckily for us, we decided to get a cheaper 3-room (before we hit the income ceiling of 10k in a few years) so there won't be any cash top-ups for our loans.

Honestly, is 28k combined savings a good amount for our age? And yes, we try to save more if possible, so it's not unusual for us to hit 1k in savings a month :)

As for drinking out... trying to cut down! But it's one of our few vices, along with an annual long-haul trip (we're headed to new york next month, spending about 4.5k all in including accomodation and airfare).

Originally Posted by EC73 (Post 48419)

Hi,

Am 41 this year, married with a 6mth old son. Below is my wife and I savings these years...

Wife and I cash savings: $300,000
Wife and I investment: $160,000
Both CPF (OA, SA, MS): $500,000
5 Room flat bought at $245,000 in 2003 without gov grant, now worth: $600,000 (fully paid since 2007)
Toyota left 1.5 years of driving duration (fully paid, since 2006)
Excluding our living policy, medical, term insurances...

Originally Posted by Unregistered (Post 47796)

Your net worth is on the low side. On average a successful graduate couple should have a net worth of $8m by the time they reach their 40s. You should consider selling your property and downgrade to a $400k HDB flat. The rest of your wealth can use to buy dividend stocks which give you 3% pa in dividends. Then you can get $140k pa in passive income.

Originally Posted by Unregistered (Post 48458)

build up your passive income using your CPF OA and cash, buy a 2nd property for rental.

Originally Posted by EC73 (Post 48419)

Hi,

Am 41 this year, married with a 6mth old son. Below is my wife and I savings these years...

Wife and I cash savings: $300,000
Wife and I investment: $160,000
Both CPF (OA, SA, MS): $500,000
5 Room flat bought at $245,000 in 2003 without gov grant, now worth: $600,000 (fully paid since 2007)
Toyota left 1.5 years of driving duration (fully paid, since 2006)
Excluding our living policy, medical, term insurances...

Originally Posted by Unregistered (Post 48462)

Congratulations! I think you both have done well as a graduate couple. Your combined net worth is more than $1.5m, this is higher than most Singapore couples. Your priority now is to raise your son well. May I know which Uni did both of you go to? How much are you both earning per year? Thanks.

Originally Posted by EC73 (Post 48464)

Thank you. We're both Ngee Ann diploma holders but went for further studies in Open University part time for 5 years. (Completed since 2002)

Currently, wife has not been working for past 3 years. So income comes from me of $126K per year.

We could have saved even more but decided to spend some time traveling while working at the same time after completing of OU studies.

Been to 33 countries so far, will continue after our son reach certain age.