Am I doing ok??

Actlikewhat · #1 (**permalink**) 28-06-2012, 06:25 PM

Hi.. Jus Wana check if I'm in line... Sigh or at least at my age if I'm doing ok..

Age 32
Male - married.
Sales line
5.5k per month salary.
60k cash
Fully paid 4room HDB
No car .. Take bus, mrt...
No credit card debt, always pay in full. No personal loan.

#2 (**permalink**) 28-06-2012, 08:36 PM

Zero debt! Of course you're ok.

#3 (**permalink**) 28-06-2012, 10:41 PM

Not bad. what and where did u get your degree?

Quote:

Originally Posted by Actlikewhat

Hi.. Jus Wana check if I'm in line... Sigh or at least at my age if I'm doing ok..

Age 32
Male - married.
Sales line
5.5k per month salary.
60k cash
Fully paid 4room HDB
No car .. Take bus, mrt...
No credit card debt, always pay in full. No personal loan.

Actlikewhat · #4 (**permalink**) 28-06-2012, 11:29 PM

Quote:

Originally Posted by Unregistered

Not bad. what and where did u get your degree?

I major in BA from Edith Cowan University...

I think I'm ok comparing to what some people my age has... Nice cars... Or at least a qtr million savings.. Some properties or even some investment portfolio..

I have none of these.. I'm rather safe with my cash... Jus sitting in the bank sleeping...

#5 (**permalink**) 29-06-2012, 09:10 AM

doesn't matter where you are now. what or where do you want to be in 10 years time.
target salary?
cash on hand?
net worth?

it helps to set a target which is more important than where you are now.

Quote:

Originally Posted by Actlikewhat

Hi.. Jus Wana check if I'm in line... Sigh or at least at my age if I'm doing ok..

Age 32
Male - married.
Sales line
5.5k per month salary.
60k cash
Fully paid 4room HDB
No car .. Take bus, mrt...
No credit card debt, always pay in full. No personal loan.

#6 (**permalink**) 29-06-2012, 11:02 AM

No debt and you got more than you need! House, a family, job. And only 32 years old.

You are doing fine!

#7 (**permalink**) 29-06-2012, 04:39 PM

Quote:

Originally Posted by Actlikewhat

Hi.. Jus Wana check if I'm in line... Sigh or at least at my age if I'm doing ok..

Age 32
Male - married.
Sales line
5.5k per month salary.
60k cash
Fully paid 4room HDB
No car .. Take bus, mrt...
No credit card debt, always pay in full. No personal loan.

Did your parents or somebody help you pay for your HDB? I am very sceptical that someone at your age drawing 5.5k (I assume last time is lower) can fully pay a 4 room HDB even if it is in Jurong West or Woodlands.

Actlikewhat · #8 (**permalink**) 29-06-2012, 06:47 PM

Quote:

Originally Posted by Unregistered

Did your parents or somebody help you pay for your HDB? I am very sceptical that someone at your age drawing 5.5k (I assume last time is lower) can fully pay a 4 room HDB even if it is in Jurong West or Woodlands.

Thanks for all the kind advise...

Oh I was lucky to have bought a BTO around SK area in 2008...It was only 158k... After our Cpf deduction we only took up about 30k loan... Then about 3 years later me and wife decided to pay up the remaining with our savings..So that's how it is fully paid...

No special aid or ways... Jus sacrifice on savings so we have no other liabilities...

Actlikewhat · #9 (**permalink**) 29-06-2012, 06:53 PM

Quote:

Originally Posted by Unregistered

doesn't matter where you are now. what or where do you want to be in 10 years time.
target salary?
cash on hand?
net worth?

it helps to set a target which is more important than where you are now.

I'm targeting to save up at least 500-800k before I retire excluding my CPF...

But its so hard... After paying up the remaining HDB loan I have only left with what I posted earlier...

I think I can't make it le... If I save 2k a month... At best I get 24k per annum..

Assume everything smooth sailing.. 10 yrs I only save 240k .. 20yrs.. 480k.. By then I'm already 52...

I think I gotta re-access my dream of early retirement ... Sigh...

Every time I think about this scenario.. It makes me sad...

Actlikewhat · #10 (**permalink**) 29-06-2012, 07:05 PM

Quote:

Originally Posted by Unregistered

No debt and you got more than you need! House, a family, job. And only 32 years old.

You are doing fine!

I don't think I'm doing fine at all.. I had a lovely wife whom started savings with me when we are dating 10 yrs back... We always had a common dream of early retirement with no liabilities at all... We scrimp and save, sacrifice our quality of life, it always work, coffee shop dinner and home... Weekend we splurge abit by going for ajisen ramen or a movie... Holiday would be batam or bintan, or JB... And that's 10yrs of our youthful years...

Now we are both in our 30s... And we realize something is very wrong...

I had friends driving nice German cars.. Living in good area HDB and claim can still have 200-300k savings... I ask them how they do it.. They jus say "savings lor"

I don't know man... I think I'm doing it the wrong way...