Age 30 .. Appropriate net worth?
 

Hi all,

Just wondering how much should a 30 years old should have....Some brief description of person, local uni grad, not a high flyer (average joe), single....

Is the following appropriate and reasonable?

CPF: $100,000
Life Insurance/Savings Plan: $50,000
Cash: $100,000

Just wanna seek your views and what do you is appropriate if differ from the above? thanks..

u are fine.

Your assets and savings will increase at an increasing rate as you advance in your career.

What you have sounds average for a graduate who starts work at 25. Assuming your starting salary is close to $4k pm and increases by 5% average per year, including 1 promotion. Your CPF of $100k after 5 yrs is about right.

Do not be too caught up in counting the $$$. There are more important things in life like getting married and starting a family. I was already married with 1 child when I was 30. We bought a small pte apt when HDB told us we had to wait 2.5 yrs for our flat. That was almost 25 yrs ago. Once our first child was born, we also got a car. As of now, money wise, I don't think we are worse than our peers who remained single. In fact they looked directionless and lost to me.

With dual income, you share the burden of bringing up the family, less stress that way. Some more, our yearly expenses is less than either of our salary, meaning we save more than 1 yr's salary every year for the longest time.

Sorry for the digression, but I thought it was necessary to highlight other important things in life than just money.

Your net worth is a meaningless concept in this worldly life. What is important is your preparation for the after life.

You should focus on getting married, have children and lead a meaningful life, contributing to the larger society through your good deeds and charity.

This is probably somewhere average for a typical uni grad, so just continue along and you'll be fine.

This is a typical profile of a successful 30 year old guy:

1. Married to a beautiful wife with a cute baby.
2. Earns $250k pa.
3. Lives in a condo.
4. Drives a big continental car.
5. Net worth of $3m.

Not easy to achieve though.

i suppose u are someone who has not achieved much in life.

yes, that is quite reasonable

You are ok. The only thing you lack is a wife, kids and your own home. Buying a BTO HDB flat is the best investment you can make in your life. The government builds beautiful new HDB estates, better than private apartments in other countries, and the value of your flat will 101% guaranteed appreciate after you have serviced your loan after 25 years. For instance, if you buy a 3 room flat for $150k, the value of your flat will at least doubled to $300k in 25 years time (can even go to $400k or more) and your net worth will rise. When you retire, you can rent the whole unit out to FTs (we need FTs to rent our flats) and you can stay with your own kid. So, the strategy to live successfully - get married, apply BTO HDB flat and have two kids (hopefully at least one of them will take care of you in your old age). So, instead of wasting time playing computer games or watching TV, go out and hunt for a wife now. Avoid the outgoing and havoc kind. Find those homely and motherly kind. There is one forumer here, she sounds ok but she's old (35 years already) but still ok I think.

When I was 30, I earned $60K pa, owned nothing, rented a HUDC flat, had a Mitsubishi Lancer and net worth of about $130K

When I was 40, I earned $210K pa, owned a 3-bedroom condo, had a BMW 316 and net worth of about $1m

At 50, I earned $700K pa, owned a landed property, had a Porsche 911 and net worth of about $4m

Today I have net worth of $12.5m

Point is, things can change dramatically over time. What you have at 30 is little reflection of how things will turn out.