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.

Found this interesting chart

http://2.bp.blogspot.com/-WkitcrQjzE...y-age-2012.png

When I was 30, I earned $45k pa. Net worth $100k.

When I was 40, I earned $200k pa. Net worth $1m.

Now I am 48, retired, earning passive income of $80k pa. Net worth, including condo, $3m.
I live a frugal but healthy lifestyle. Exercises everyday and eats healthy food. Doing charity work in various organizations. I'm not greedy to earn more as I believe making a difference to the poor and needy is more valuable than for me to spend on the next sports cars, a bungalow or lavishly disgusting lifestyle.

My friends, in their 50s, are still working, most earning $100k pa. Their net worth, including their HDB flats or condos, on average is about $800k.

So, don't worry about how much net worth you have today. Just work hard.

You are much better than me.
30/male
assets less off gambling debts left with $11,100
CPF OA: $73,000
No car, no house.

I assume your salary is $80K or thereabouts, so it's at or slightly above what your net worth should be.

32, female, single,
$3k per month
Cash $30k
Lives with parents

y TS have so much cash? learn to invest.

It seems that there are more rich people proportionately in Singapore than in the US. Based on this chart, my income puts me at the top 10% of US earners but using the benchmarking tool on salary.sg I'm not in the top 10% of Singapore earners.

Here is the profile of a successful 30 year old:

1. Married to a pretty wife, has two young kids.
2. Staying in a condo.
3. Has a car.
4. Annual income of $100k each.
5. Net worth of $1m.

lifee from.30 may change dramatically. kids come along, you are at your peak at work and investment. ..30is a good Start,
when i was at 30,i was single, high spender with much much less than most of you.
now at 40,married with Kid, staying in a HDB, driving company car, Cash and stocks $1.2million .

believe salary.sg tool only accounts for income earners

As long as you are not staying in a condo, you are not deemed as successful here. Sad but true. You can sell your hdb flat now and upgrade to a condo since you now have $1.2m of spare cash.

but i beg to differ. ..why doi need others to gauge if i am successful? i am happy of my achievement and so are my Blissful happy family.

Cash is for me to invest and Snow ball VIA stocks and property investment, HDB IS MY 山寨SHAN ZHAI

Agree. Anyway, success is relative and is probably a misguided goal to pursue in life.

the definition of this thread is too narrow......as in success is defined by net worth ($$) and other stuff are not considered..

what if an artiste is very successful and recognised even though he is not paid millions for his artwork? A street performer? A hawker that has operated for the past 20 years with a steady stream of customers everyday. Must he become a franchise owner and millionaire in order to be considered and deemed as successful?

The true success is your success in the hereafter.

Do a YouTube search on "Angel of Death" and "Jannah".

This thread is just fine. It specifically and narrowly asked what net worth should a 30 yr old be expected to have. It did not ask about success. It was the other posters who tried to link net worth to success, which I thought was inappropriate to measure for a 30 yr old.

So let's just stick to net worth.

i have a good analogy....

I am sure many will deemed saddam hussein a sucessful leader when he was at his peak of his power (note: Successful leader doesn't mean a good leader). And yet, Saddam Hussein's life as whole? Regardless of where you stand in the Iraq war, Saddam Hussein is a failure of doing what he is supposed to be doing (whatever that is) as US invaded Iraq and he is captured and sentenced by the UN. I'm sure when Saddam is at his peak in the 90s, he felt invincible and never expected his fate to be such an end. And the conclusion of Saddam Hussein's life is that he is a failed dictator.

So for those who think 'they have made it' and is successful when at age 30. Think further. It's not how much you possessed and achieved now and 10 years from now. Success is defined by your entire life. I will much prefer to have a successful life as a whole than a successful adult life (and I'm sure you will agree that both are not necessary relative).

Success a relative concept. A successful father for instance is one who provides for his family just sufficiently and also builds the character of his children to be of a good character. A father who earns a lot but neglect his family until his children become scoundrels is a big failure. He raised children of weak character and loose morals.

i would not put saddam as a failed dictator, even if that's what western press would like to keep saying. He brought stability to a country of political and religious strive in the 70s, 80s. It is 2013 now, and who would say (an impartial, not a sunni or shite or arab) that Iraq is today better than what it would have been if Saddam remained? Saddam didn't even have WMDs.

But I agree success is a personal thing. For me, changing the world for the better, even for a short space of time in history, is success enough.

That's too Simplistic. A father can spend lots of time with his kids and they are of weak character and loose morals too. Anyway, I dont think any doting father or mother thinks their kids have weak character and loose morals. Most of these type of fathers point at other kids or other fathers chastising them.

Further, it is none of your business to judge or care about how others behave as fathers, nor how their kids grow up into.

If you think this is successful, you're not successful.

He will understand one day... hopefully

Hi, can you share on what occupation you are in and the investments you did to accumulate such a portfolio?

Thanks.