How much savings do you have?

Although luck plays an important part in a person's success, I think we should also acknowledge a person's capability, hardwork and other qualities in their success.

So your statement below made it sound like luck was the only factor for his success.

Originally Posted by Unregistered

You are very lucky to be able own a flat, a car and you can afford a maid.
Your salary is also quite high. How much is your total net worth?

Originally Posted by Unregistered

You are very lucky to be able own a flat, a car and you can afford a maid.
Your salary is also quite high. How much is your total net worth?

HDB now worth 700K (outstanding mortgage of 300k/25yr)
Savings + Stocks 60K
Physical Gold ~12k
Insurance 240K

Lucky as you thought i may be, and we consider ourselves very comfortable too, but still it is so hard to save $$, only 50K saved in 6 years, and they are mainly leftover of whatever bonuses that we recieved. Its money in and money out almost every month

40, $1m cash savings

48, Hdb flat worth $600k, paid up.
Cash and CPF, $400k.
Millionaire with net worth of $1m.
Middle manager, $95k pa only.

27 Years Old

Stocks 8K
Cash 1K
CPF 58K

29 years old

SGD 75k in Ordinary Account
SGD 13k in Cash Savings

- should have more money in savings account but lost a sum when I decided to back of out marriage (lost money in executive condo downpayment and got to pay bank loan penalty)

- looking to increase cash savings to SGD 40k by next year (based on JP Morgan retirement savings projection, that's the amount I should have by 30 years old)

Monthly mandatory expenses SGD1330 (parents' allowance, school loan, insurance etc.)
Monthly flexible expenses SGD 800-1000

It is good to back out of marriage if the guy was unfaithful to you. well done.
btw, how much do you make per annum?

Originally Posted by Bubbles

29 years old

SGD 75k in Ordinary Account
SGD 13k in Cash Savings

- should have more money in savings account but lost a sum when I decided to back of out marriage (lost money in executive condo downpayment and got to pay bank loan penalty)

- looking to increase cash savings to SGD 40k by next year (based on JP Morgan retirement savings projection, that's the amount I should have by 30 years old)

Monthly mandatory expenses SGD1330 (parents' allowance, school loan, insurance etc.)
Monthly flexible expenses SGD 800-1000

Do u have other investment? Having just cash is not giving u real returns.

Originally Posted by Unregistered

40, $1m cash savings

28 going on 29 in a few months.
Single, Male

Fundsupermarket investments: 128k (includes 13k in SRS)
Stock Market Account: 5k
Cash: 29k
CPF OA: 38k
CPF SA: 10k
CPF MA: 12k

How am I doing?

Originally Posted by Unregistered

Secrets of saving:

1. Buy a home you can afford. Be happy with a BTO HDB flat. This is very cheap. If you are a graduate couple who bought your BTO flat for $200k, you can easily pay it off within 5 years from your annual combined bonus. If you have a $150k loan, if your take home bonus combined is $30k pa, you can clear within less than 5 years.

2. Do not buy a car, take MRT and bus. You can save as much as $2000 per month.

3. Do not eat at expensive restaurants. Just buy $3 meals from hawker centers. Take away and you will save on drinks.

4. Do not gamble. Gambling is stupid as you will definitely lose money, for sure.

5. Do not smoke or drink. Total waste of money as well as incurring medical cost in the future as you will get lung cancer, liver cancer, etc.

5. Do not womanize. You will be in a costly divorce. You will also get all sorts of sexually transmitted diseases, AIDs, and you will spend so much money on medicines and doctor fees.

6. Do not sodomize and be a gay. You will get AIDs and will incur huge medical bills and will die young.

7. Do not be a glutton. Eat in moderation and fast. You will get diabetes, heart diseases, etc.

A monk?......perhaps not