|
|
01-02-2014, 02:51 PM
|
|
It never fails, whenever I shared that my net worth is >$5m, it opens the flood gates of super earners. My buddies and I are having a laughing good time by the pool side of my D10 condo sipping lemonade.
Every now & then, one of us will take turn to write something and amuse ourselves with the responses.
Quote:
Originally Posted by Unregistered
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.
|
|
10-02-2014, 02:52 PM
|
Senior Member
|
|
Join Date: Jan 2014
Posts: 84
|
|
Quote:
Originally Posted by Unregistered
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).
|
Actually, I think the both of you are doing okay! I dun really know a lot of married or engaged couples, so I am not qualified to do a comparision, but I still think it is okay!
For me, I am a degree holder with 5 years of experience, but i earn only $3.1K a month (gross); just quit my job without finding a new one. I choose to be thrifty beciz i am single and unattached but if I have a wife or girlfriend, I would also travel around the world with her like you!
|
18-02-2014, 11:21 PM
|
Junior Member
|
|
Join Date: Feb 2014
Posts: 5
|
|
Am I okay?
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...
|
19-02-2014, 07:10 PM
|
|
Quote:
Originally Posted by EC73
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...
|
build up your passive income using your CPF OA and cash, buy a 2nd property for rental.
|
19-02-2014, 08:21 PM
|
Junior Member
|
|
Join Date: Feb 2014
Posts: 5
|
|
Quote:
Originally Posted by Unregistered
build up your passive income using your CPF OA and cash, buy a 2nd property for rental.
|
Yes, thank you for the advise. We're planning to since 2010 but have to wait for the next crash. Now is simply too expensive to go in the market... I would prefer to look for a $600,000 private condo.
|
19-02-2014, 08:25 PM
|
|
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.
Quote:
Originally Posted by EC73
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...
|
|
19-02-2014, 08:39 PM
|
Junior Member
|
|
Join Date: Feb 2014
Posts: 5
|
|
Quote:
Originally Posted by Unregistered
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.
|
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.
|
19-02-2014, 09:09 PM
|
|
You both had a good life, traveling around the world. Your household income is very good, above the median household income in Singapore. Since you are debt free, you should not have much worries. Your flat is an asset you can monetize when you retire. Be careful of property agents telling you to invest in rental property, nowadays difficult to get tenants due to oversupply of properties. If more FTs are not allowed to work here, your condo can be empty for years. I think buying good global blue chips which gives you 6% dividend yield may be a better idea. More liquid also.
Quote:
Originally Posted by EC73
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.
|
|
20-02-2014, 08:48 AM
|
|
40, 38
Combined employment income = 180k pa
Savings= 200 k
CPF OA = 60 k
Debts= $1.2 mil ( Asset value may be $2.3 mil, can't be certain)
Passive Income= 84 k pa
Live in a rented flat.
2 cars, both fully paid
Not a lot, but not starving either. Just wished I could retire!
|
|
|
Posting Rules
|
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» 30 Recent Threads |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|