How much savings do you have? - Page 64 - 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
  #631 (permalink)  
Old 01-02-2014, 02:51 PM
Unregistered
Guest
 
Posts: n/a
Default

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 View Post
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.

Reply With Quote
  #632 (permalink)  
Old 10-02-2014, 02:52 PM
Senior Member
 
Join Date: Jan 2014
Posts: 84
darkstar is on a distinguished road
Default

Quote:
Originally Posted by Unregistered View Post
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!

Reply With Quote
  #633 (permalink)  
Old 18-02-2014, 11:21 PM
Junior Member
 
Join Date: Feb 2014
Posts: 5
EC73 is on a distinguished road
Default 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...

Reply With Quote
  #634 (permalink)  
Old 19-02-2014, 07:10 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by EC73 View Post
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.
Reply With Quote
  #635 (permalink)  
Old 19-02-2014, 07:14 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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.
Seriously? $8m by 40s? That is really pathetic. My uni friends and I have achieved $20m by 30s, now about $x00m, mainly from our listed company value. i have to admit this is nothing compared to our facebook founder/friend.
Reply With Quote
  #636 (permalink)  
Old 19-02-2014, 08:21 PM
Junior Member
 
Join Date: Feb 2014
Posts: 5
EC73 is on a distinguished road
Default

Quote:
Originally Posted by Unregistered View Post
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.
Reply With Quote

  #637 (permalink)  
Old 19-02-2014, 08:25 PM
Unregistered
Guest
 
Posts: n/a
Default

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 View Post
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...
Reply With Quote
  #638 (permalink)  
Old 19-02-2014, 08:39 PM
Junior Member
 
Join Date: Feb 2014
Posts: 5
EC73 is on a distinguished road
Default

Quote:
Originally Posted by Unregistered View Post
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.
Reply With Quote
  #639 (permalink)  
Old 19-02-2014, 09:09 PM
Unregistered
Guest
 
Posts: n/a
Default

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 View Post
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.


Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #640 (permalink)  
Old 20-02-2014, 08:48 AM
Unregistered
Guest
 
Posts: n/a
Default

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!
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
Career as Teacher ( 1 2 3... Last Page)
6,676 Replies, 4,240,741 Views
DBS tech seed programme ( 1 2 3... Last Page)
2,742 Replies, 842,023 Views
CSA (Cyber Security Agency) ( 1 2 3... Last Page)
641 Replies, 269,877 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
9,765 Replies, 3,188,359 Views
Lawyer Salary ( 1 2 3... Last Page)
18,474 Replies, 7,612,143 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,315 Replies, 638,085 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
4,827 Replies, 2,689,630 Views
NTU (non-faculty) ( 1 2 3... Last Page)
133 Replies, 164,319 Views
Compare civil service salary ( 1 2 3... Last Page)
14,986 Replies, 10,010,416 Views
Singtel Management Associate... ( 1 2 3... Last Page)
1,146 Replies, 367,981 Views
Standard Chartered International... ( 1 2 3... Last Page)
364 Replies, 164,426 Views
GovTech ( 1 2 3... Last Page)
3,462 Replies, 1,127,574 Views
Civil Service Bonus 2022 Year End ( 1 2)
13 Replies, 2,689 Views
Roles in accenture singapore ( 1 2 3... Last Page)
5,613 Replies, 1,318,698 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
4,780 Replies, 3,474,223 Views
IMDA (under MCI) ( 1 2 3... Last Page)
399 Replies, 207,051 Views
High Finance Thread ( 1 2 3... Last Page)
1,472 Replies, 381,507 Views
How much are you earning per annum? ( 1 2 3... Last Page)
13,461 Replies, 5,498,809 Views
How is life as a doctor in... ( 1 2 3... Last Page)
4,499 Replies, 2,261,489 Views
Factual Local Bank Salaries - DBS... ( 1 2 3... Last Page)
1,060 Replies, 739,672 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
4,251 Replies, 3,330,589 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,248 Replies, 995,650 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
360 Replies, 134,298 Views
Bnp paribas graduate ( 1 2 3... Last Page)
205 Replies, 122,927 Views
Ex-MOE Teachers ( 1 2 3... Last Page)
351 Replies, 315,524 Views
Officer Role in Bank of Tokyo -... ( 1 2 3... Last Page)
273 Replies, 223,015 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
269 Replies, 175,820 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,100 Replies, 764,750 Views
Anyone work in JPM/GS/Morgan... ( 1 2 3... Last Page)
300 Replies, 75,921 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 07:57 AM.


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