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-   -   Car / House for Net Worth / Income (https://forums.salary.sg/investments-net-worth/2861-car-house-net-worth-income.html)

kong 23-06-2013 12:42 AM

Car / House for Net Worth / Income
 
I'm curious to know about the cars and housing types for the different levels of net worth / income we see in this forum.

I'll start with my humble family:

Age - 40 & 41
Combined income - $400k pa
Net worth including primary residence - $2.5m
Housing type - HDB exec
Car - Honda stream

Many people tell us we live way below our means, but we're comfortable with our way of life.

Unregistered 23-06-2013 10:01 AM

To have a more complete picture, you should also state your household expenses, either monthly or yearly.

My family:
Age - 49
Salary - $220k + $120k
Passive income - $63k

Condo (primary) - $1.6m (fully paid)
Condo (2nd property) - $1.3m (loan 750k)

2 cars - 1 MPV & 1 sedan (fully paid)

Total net worth - $4.5m(incl. stocks, other investments)

Household expense - $100k pa

Quote:

Originally Posted by kong (Post 38992)
I'm curious to know about the cars and housing types for the different levels of net worth / income we see in this forum.

I'll start with my humble family:

Age - 40 & 41
Combined income - $400k pa
Net worth including primary residence - $2.5m
Housing type - HDB exec
Car - Honda stream

Many people tell us we live way below our means, but we're comfortable with our way of life.


Unregistered 23-06-2013 10:43 AM

Quote:

Originally Posted by Unregistered (Post 38999)
To have a more complete picture, you should also state your household expenses, either monthly or yearly.

My family:
Age - 49
Salary - $220k + $120k
Passive income - $63k

Condo (primary) - $1.6m (fully paid)
Condo (2nd property) - $1.3m (loan 750k)

2 cars - 1 MPV & 1 sedan (fully paid)

Total net worth - $4.5m(incl. stocks, other investments)

Household expense - $100k pa

What model / make are your cars?

Unregistered 23-06-2013 11:02 AM

Don't be too happy. I suggest you deleverage. Sell your condos and buy a HDB flat. You and your wife are now at the highest risk of being retrenched and replaced by foreigners. Take care.


Quote:

Originally Posted by Unregistered (Post 38999)
To have a more complete picture, you should also state your household expenses, either monthly or yearly.

My family:
Age - 49
Salary - $220k + $120k
Passive income - $63k

Condo (primary) - $1.6m (fully paid)
Condo (2nd property) - $1.3m (loan 750k)

2 cars - 1 MPV & 1 sedan (fully paid)

Total net worth - $4.5m(incl. stocks, other investments)

Household expense - $100k pa


kong 23-06-2013 12:03 PM

More info from me:

Age - 40 & 41
Combined income - $400k pa
Net worth including primary residence - $2.5m
Housing type - HDB executive apartment 4 bedrooms (bought at $500k, now worth $800k)
Car - Honda stream (bought at $80k, fully paid)
Family expenses - estimated $80k pa

As we are comparing housing type and car type wrt to income and net worth, it will be good if we include purchase & current prices of condo/hdb/landed and car make & model.

Unregistered 23-06-2013 12:47 PM

Quote:

Originally Posted by kong (Post 39006)
More info from me:

Age - 40 & 41
Combined income - $400k pa
Net worth including primary residence - $2.5m
Housing type - HDB executive apartment 4 bedrooms (bought at $500k, now worth $800k)
Car - Honda stream (bought at $80k, fully paid)
Family expenses - estimated $80k pa

As we are comparing housing type and car type wrt to income and net worth, it will be good if we include purchase & current prices of condo/hdb/landed and car make & model.

Kong, don't be disillusioned with your high pay. Both you and your wife can get retrenched any time as you both are now in your 40's. I used to earn $300k pa, but was retrenched. Luckily I stay in my HDB flat which was fully paid up and I have some cash to tie me ober for a few months. Now I am just a lowly paid tutor. Stay in your HDB flat and save as much as possible for the imminent retrenchment.

Unregistered 23-06-2013 12:52 PM

age: 37 and 35
work income: $190K (single income)
dividend income: $11K
net worth: $2.7M (cash, stocks plus home value net of loan)
home: freehold terrace
car: used bmw 523

our net worth is high relative to income due to profits from property and stock investments

Unregistered 23-06-2013 01:58 PM

Age: Early 30s + late 30s
Income: 110K + 60K
Dividend income: close to 0. Terrible, terrible with shares
Properties:
1 condo home, remaining debt 425K, mkt value 1M
1 investment property, remaining debt 462K, mkt value 600K. Rented at 6% yield
Cash + shares: 40K. Low cash due to relatively recent purchase of investment property
CPF not counted.

Expenses:110K per annum due to parental maintenance, shopping, holidays, eating out.
No car

Small fries. Looking at this, our expenditure is too high considering we have no car! Love shopping, eating and holidays too much.

Unregistered 23-06-2013 07:54 PM

Guess if anyone needs a guideline, I think a 1.5m condo (eg small studio in good district or a bigger 3 roomer mass market condo) and a 200k car (eg 2nd hand BMW or Mercedes) is ok for a family with 2m net assets.

Unregistered 23-06-2013 10:21 PM

Do not be concerned for these people. With a net worth of $4.5m, and some more at 49 yrs old, they are more than ready to retire. No need to deleverage. Loan interest rate is only 1%. They are probably collecting rent from their 2nd property. Looking at their income and expense, they are saving $300k pa. Within 3 yrs, they can comfortably pay off their loan of $750k. And I think they can actually pay off the loan now if they want.

Worry for yourself



Quote:

Originally Posted by Unregistered (Post 39002)
Don't be too happy. I suggest you deleverage. Sell your condos and buy a HDB flat. You and your wife are now at the highest risk of being retrenched and replaced by foreigners. Take care.



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