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-   -   How much savings do you have? (https://forums.salary.sg/investments-net-worth/1199-how-much-savings-do-you-have.html)

Unregistered 06-04-2012 07:23 PM

Happy
 
3 properties - one big landed, 2 condos

looking for another property

live a simple life

Unregistered 07-04-2012 09:45 AM

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

Unregistered 07-04-2012 06:30 PM

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:)

Unregistered 09-04-2012 05:01 PM

Quote:

Originally Posted by Unregistered (Post 23422)
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.

Unregistered 10-04-2012 07:26 AM

Quote:

Originally Posted by Unregistered (Post 23422)
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?

Unregistered 10-04-2012 10:32 AM

Quote:

Originally Posted by Unregistered (Post 23520)
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?

Unregistered 10-04-2012 10:30 PM

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!

Unregistered 11-04-2012 10:34 AM

Quote:

Originally Posted by Unregistered (Post 23606)
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????

Unregistered 11-04-2012 09:35 PM

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'

Unregistered 13-04-2012 05:12 PM

Quote:

Originally Posted by Unregistered (Post 9268)
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

Unregistered 07-05-2012 12:12 PM

Very nice numbers and assets being mentioned here.

But with a plate of chicken rice coming to $5 nowadays, I still recall not long ago it was like $1.20 per plate.

Savings will never be enuff have to work harder!

Sion3011 07-05-2012 12:44 PM

I am wondering, how come you all can save so much money. Isn't Sg pay only Around 2K-5K only.

Unregistered 07-05-2012 12:50 PM

Initially I find it kind of demoralising to know that so many millionaires in this forum.
I was stuck at 2.5k salary as a diploma holder after working for 5yrs.

But i slowly realise many people are talking cock over here. LOLz

Sion3011 07-05-2012 01:17 PM

One month save 3k, 1 year save 36K. 10 years Save 360K. Is it how you all save money in Sg?

Unregistered 07-05-2012 02:47 PM

Quote:

Originally Posted by Sion3011 (Post 24546)
One month save 3k, 1 year save 36K. 10 years Save 360K. Is it how you all save money in Sg?

Yes. In fact more than 3k. And we don't anyhow invest even during high inflation despite what "experts" say. Cos the worst is losing the hard earned money if the investment fails.

During times of high inflation, it's best to aim to "lose less" than others.

Unregistered 07-05-2012 03:58 PM

Savings is very impt in order to have the first pot of gold, for investing. And one should start to save early. Just 10 years ago, if you had saved $50K cash and $50K in CPF, you would be able to afford a 20% downpayment and buy a 1200 sqf suburban condo for $0.5m. This condo will be worth $1m now and you would have made at least $300-400K (after deducting for interest, stamp duty, other misc costs) from your $50K cash and $50K CPF. Few years ago, many shares including blue chips are selling below their NRV but many are too fearful to buy. Those who bought the shares then would have made at least a few folds by now.

I believe some of the stories and claims are true although I also find it rather increduous that there are so many millionaires contributing their success stories in this forum.

Unregistered 07-05-2012 04:05 PM

Quote:

Originally Posted by Unregistered (Post 24549)
Savings is very impt in order to have the first pot of gold, for investing. And one should start to save early. Just 10 years ago, if you had saved $50K cash and $50K in CPF, you would be able to afford a 20% downpayment and buy a 1200 sqf suburban condo for $0.5m. This condo will be worth $1m now and you would have made at least $300-400K (after deducting for interest, stamp duty, other misc costs) from your $50K cash and $50K CPF. Few years ago, many shares including blue chips are selling below their NRV but many are too fearful to buy. Those who bought the shares then would have made at least a few folds by now.

I believe some of the stories and claims are true although I also find it rather increduous that there are so many millionaires contributing their success stories in this forum.

I agree. If you are young and managed to save some money, use the money to invest wisely instead of spending it on a car.

Unregistered 07-05-2012 04:25 PM

A word of advise (this is genuine not tcss), to everyone who wants to scale the wealth ladder (at least it worked for me).

Its not just working hard, you have keep a lookout for opportunities to grow your wealth, could be a better job, could be good performance and the boss rewards you, could be investments, could be start new biz, etc

The key is to constantly keep a look out, widen your social contact (you never who u might know next that can help you do something better or intro opportunity to you), always work harder and better than your colleagues, always set aims, e.g. grow income by 50% in 3 years, and set clear steps on how to get there.

There are many means to any end and the guiding attitude is to stay positive, work hard, look for opportunities and dont expect things to drop from the sky.

Unregistered 10-05-2012 12:31 PM

Quote:

Originally Posted by Unregistered (Post 24552)
A word of advise (this is genuine not tcss), to everyone who wants to scale the wealth ladder (at least it worked for me).

Its not just working hard, you have keep a lookout for opportunities to grow your wealth, could be a better job, could be good performance and the boss rewards you, could be investments, could be start new biz, etc

The key is to constantly keep a look out, widen your social contact (you never who u might know next that can help you do something better or intro opportunity to you), always work harder and better than your colleagues, always set aims, e.g. grow income by 50% in 3 years, and set clear steps on how to get there.

There are many means to any end and the guiding attitude is to stay positive, work hard, look for opportunities and dont expect things to drop from the sky.

Strongly agreed. Rather than daydreaming about how to get rich. In fact most of the time opportunities is there, but many did not realise it or make use of it.

Sadly I passed many opportunities, therefore still stuck at 2k job. But u have to try it out right

Sion3011 10-05-2012 12:58 PM

Enough is enough. I think if a person life have accumulate passive income. Then the person shall concentrate on God totally. Life is not just about seeking money and compare whose accumulate most wealth. But to understand why we are here; I recently study NDE (near death experience) and found out that after we die, the journey still move on. U may look for scientifc research. Evidence of the Afterlife. The Science of Near-Death Experiences or youtube it.

Unregistered 10-05-2012 01:20 PM

Quote:

Originally Posted by Sion3011 (Post 24647)
Enough is enough. I think if a person life have accumulate passive income. Then the person shall concentrate on God totally. Life is not just about seeking money and compare whose accumulate most wealth. But to understand why we are here; I recently study NDE (near death experience) and found out that after we die, the journey still move on. U may look for scientifc research. Evidence of the Afterlife. The Science of Near-Death Experiences or youtube it.

don't bring religion into this forum. it is disrespectful to those of other faiths.

Unregistered 10-05-2012 06:22 PM

Quote:

Originally Posted by Unregistered (Post 24549)
Savings is very impt in order to have the first pot of gold, for investing. And one should start to save early. Just 10 years ago, if you had saved $50K cash and $50K in CPF, you would be able to afford a 20% downpayment and buy a 1200 sqf suburban condo for $0.5m. This condo will be worth $1m now and you would have made at least $300-400K (after deducting for interest, stamp duty, other misc costs) from your $50K cash and $50K CPF. Few years ago, many shares including blue chips are selling below their NRV but many are too fearful to buy. Those who bought the shares then would have made at least a few folds by now.

I believe some of the stories and claims are true although I also find it rather increduous that there are so many millionaires contributing their success stories in this forum.

Just three years ago, with an average 150K/annum combined salary (spouse and I) and without borrowing from relatives, we managed to get a 2rm suburban condo for << 1M.

Recently we bought a second property (not residential) which is tenanted. Its achievable for an average graduate couple. Of course, there are sacrifices: no car, no expensive hobbies. And of course, there is risk involved, property can come down, it does not always go up. No risk, no gain, what shld be done is to take a calculated and considered risk.

The totally risk adverse, would have bought one HDB and stayed put, never buying private property, putting savings in the bank. But where would that lead to? Zero risk, but hardly any gain.

Unregistered 10-05-2012 06:59 PM

Quote:

Originally Posted by Unregistered (Post 24670)
Just three years ago, with an average 150K/annum combined salary (spouse and I) and without borrowing from relatives, we managed to get a 2rm suburban condo for << 1M.

Recently we bought a second property (not residential) which is tenanted. Its achievable for an average graduate couple. Of course, there are sacrifices: no car, no expensive hobbies. And of course, there is risk involved, property can come down, it does not always go up. No risk, no gain, what shld be done is to take a calculated and considered risk.

The totally risk adverse, would have bought one HDB and stayed put, never buying private property, putting savings in the bank. But where would that lead to? Zero risk, but hardly any gain.

How much is your outstanding loan for the 2 properties?

Property investment is indeed risky, especially now when prices are at record high (Tharman said we're at the unhappy part of the property cycle). Many graduate couples were burnt in 1997-98 when their property investments turned bad.

Good luck!

Venture capital 10-05-2012 09:32 PM

36 year old professional, married with 2 kids

450K cash
450K reits
2.4M landed property (monthly loan of 2.5K is being repaid by reits dividends)

Unregistered 12-05-2012 09:32 AM

Quote:

Originally Posted by Unregistered (Post 24671)
How much is your outstanding loan for the 2 properties?

Property investment is indeed risky, especially now when prices are at record high (Tharman said we're at the unhappy part of the property cycle). Many graduate couples were burnt in 1997-98 when their property investments turned bad.

Good luck!

Outstanding loan for two properties in total, is slightly less than 1M.

Percentage of combined income, to service the loan for the two properties (condo home + non residential property), is around 30%. But if factor in that the non-residential is tenanted, its much less than that.

Is this high? I don't think so.

Income divide 12-05-2012 11:10 PM

Be aware
 
Quote:

Originally Posted by Unregistered (Post 24545)
Initially I find it kind of demoralising to know that so many millionaires in this forum.
I was stuck at 2.5k salary as a diploma holder after working for 5yrs.

But i slowly realise many people are talking cock over here. LOLz

I believe many Singaporeans have their heads in the sand. They are either not aware or not accepting of the growing income gap. The problem is severe enough for eminent Prof Lim Chong Yah to come out & propose (but not accepted) a drastic salary model to increase low wage workers' salary & keep high income earners' pay fixed. The gahmen is acutely aware of this income divide but is it doing enough to narrow the gap?

You only have to see how with high COE prices and yet people are buying cars, only this time they are buying mainly luxury ones. Also after so many rounds of cooling measures, property sales do not seem to abate. There are (many) rich people around. You are obviously on the wrong side of the income divide.

Question is how to get onto the right side of the divide?

Unregistered 13-05-2012 11:07 AM

Quote:

Originally Posted by Income divide (Post 24728)
I believe many Singaporeans have their heads in the sand. They are either not aware or not accepting of the growing income gap. The problem is severe enough for eminent Prof Lim Chong Yah to come out & propose (but not accepted) a drastic salary model to increase low wage workers' salary & keep high income earners' pay fixed. The gahmen is acutely aware of this income divide but is it doing enough to narrow the gap?

You only have to see how with high COE prices and yet people are buying cars, only this time they are buying mainly luxury ones. Also after so many rounds of cooling measures, property sales do not seem to abate. There are (many) rich people around. You are obviously on the wrong side of the income divide.

Question is how to get onto the right side of the divide?


For all Singaporeans who are unhappy with their pay, and the widening income gap, this is what the government has to say :

SM Goh acknowledged the situation has resulted in many unhappy Singaporeans, and he sought to put things in perspective.

"Those who missed out, those who can't buy this, who can't upgrade and so on, so we are really feeling the unhappiness, question is was the policy good?

"Unhappiness, those who are happier, in total there's net happiness, there's no such thing called total happiness, don't believe in it. It's whether we create net happiness in all this," said SM Goh.

He added it is "very difficult to satisfy everybody" and in politics, trying to make everybody happy is "impossible".

They key, said SM Goh is to "make the most number of people happy, the most number of times".

Unregistered 17-05-2012 09:32 PM

Age 39 w spouse
$500k cpf/srs
$700k cash/shares/ut
$600k equity value of property

jason78 28-05-2012 03:29 PM

Cash or Asset
 
Many people have assets which is not only a hedge against inflation but provides passive income and capital appreciation and with cost of borrowing so low those who buy assets such as property are paying close to no interests.








www.propertylaunch.org

45 year old professional 29-05-2012 01:01 AM

Investments and net worth
 
Together with wife

9m landed prop (4m mtge outstanding)
6m condo (3m mtge outstanding)
2.5m apartment (300k mtge outstanding)


My own

800k stocks
900k cash and bonds

Unregistered 29-05-2012 09:22 AM

Quote:

Originally Posted by 45 year old professional (Post 25160)
Together with wife

9m landed prop (4m mtge outstanding)
6m condo (3m mtge outstanding)
2.5m apartment (300k mtge outstanding)


My own

800k stocks
900k cash and bonds

Wah! Your mortgage payment is $50K per month! You must have very good job.

Unregistered 29-05-2012 10:35 AM

Quote:

Originally Posted by Unregistered (Post 9631)
Age:26 , retired , cash: 50k , Stocks: 100k, Unit trust: 150k, SGS Bond: 350k. Living by myself at fully paid condo.

seriously?? retires at 26?? your life must be damn meaningless now.

leehom 29-05-2012 01:36 PM

Quote:

Originally Posted by Unregistered (Post 24542)
Very nice numbers and assets being mentioned here.

But with a plate of chicken rice coming to $5 nowadays, I still recall not long ago it was like $1.20 per plate.

Savings will never be enuff have to work harder!

jus a chicken rice and u piss off?

Unregistered 30-05-2012 03:16 PM

Quote:

Originally Posted by Income divide (Post 24728)
I believe many Singaporeans have their heads in the sand. They are either not aware or not accepting of the growing income gap. The problem is severe enough for eminent Prof Lim Chong Yah to come out & propose (but not accepted) a drastic salary model to increase low wage workers' salary & keep high income earners' pay fixed. The gahmen is acutely aware of this income divide but is it doing enough to narrow the gap?

You only have to see how with high COE prices and yet people are buying cars, only this time they are buying mainly luxury ones. Also after so many rounds of cooling measures, property sales do not seem to abate. There are (many) rich people around. You are obviously on the wrong side of the income divide.

Question is how to get onto the right side of the divide?

Most people do not know their financial position and usually borrowed more than they should. But one can only push his luck that far...

Unregistered 10-06-2012 11:11 PM

Age late 30s with spouse no kid. household profile:

1 hdb $500k (fully paid)
1 pc $1.7m ($1.3m mortgage)
cpfoa+srs $110k
cash $270k
stocks+funds $375k
annual income $450k

Unregistered 10-06-2012 11:18 PM

Quote:

Originally Posted by Unregistered (Post 25601)
Age late 30s with spouse no kid. household profile:

1 hdb $500k (fully paid)
1 pc $1.7m ($1.3m mortgage)
cpfoa+srs $110k
cash $270k
stocks+funds $375k
annual income $450k

i so sad now. spent 5-6 years sick no work mostly hospital
then start work slowly work part time
now only got 1st full time job at 32 year

how to do savings :(

Unregistered 10-06-2012 11:23 PM

Quote:

Originally Posted by Unregistered (Post 25602)
i so sad now. spent 5-6 years sick no work mostly hospital
then start work slowly work part time
now only got 1st full time job at 32 year

how to do savings :(

head down, work and live a prudent life, and u'll just be fine :)

Poorkid 11-06-2012 09:54 AM

I'm 28 and married.

Have 10k in cash, 50k in stocks, one rolex GMT, 300k endowment policies (fully paid with one cum payment), one BTO (not ready yet).

Considered myself an less than average joe as compared the postings in thie forum.

But would like to seek constructive comments on how i did.

Ms Poverty 13-06-2012 07:24 PM

How I wish!
 
Quote:

Originally Posted by Sion3011 (Post 24546)
One month save 3k, 1 year save 36K. 10 years Save 360K. Is it how you all save money in Sg?

One month earn 2k, 1 year save $0, 10 years save $0, 100 years still save $0. That's how I don't save any money in SG. Oh my.... seems to me that I am the only poor Singaporean on this forum?

Hermit 14-06-2012 06:20 PM

Quote:

Originally Posted by Poorkid (Post 25609)
I'm 28 and married.

Have 10k in cash, 50k in stocks, one rolex GMT, 300k endowment policies (fully paid with one cum payment), one BTO (not ready yet).

Considered myself an less than average joe as compared the postings in thie forum.

But would like to seek constructive comments on how i did.

Young man, you have just started in life. And you already have one more Rolex than me, as I have none. :)

Long way to go so work hard.


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