Is your Net Wealth 300k? - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Investments and Net Worth

Investments and Net Worth Talk all about money making exploits, shares, property and building net worth




Is your Net Wealth 300k?

Reply
 
Thread Tools
  #1 (permalink)  
Old 23-11-2008, 02:25 PM
Salary.sg
Guest
 
Posts: n/a
Default Is your Net Wealth 300k?

The average household has a net wealth of $710,400, says an interesting article in New Paper on Sunday.
Quote:
"Total Assets: $859,970
Currency & Deposits $157,930
Shares & Securities $120,360
Life Insurance Equity $76,820
CPF/Pension Funds $119,930
Residential Property $384,920

Total Liabilities: $149,570
Mortgage Loans $110,390
Personal Loans $39,180

Net Wealth: $710,400"
But that figure applies to the average household. What about the average person?

To keep things simple, let's assume that each household has 2 breadwinners. So, roughly, each income-earning individual has an average net wealth of about $300k.

$300k wealth, on average.

Is your net wealth above average?

See this Salary.sg post on how to calculate your net wealth, or net worth, and compare it against a benchmarking formula based on your age.

Note: The TNP writer derived the $710,400 figure based on end-2006 data in the Yearbook of Statistics Singapore, 2008.

http://www.salary.sg/2008/is-your-net-wealth-300k/

Reply With Quote
  #2 (permalink)  
Old 23-11-2008, 11:58 PM
5m10y--
Guest
 
Posts: n/a
Default 3420

This --> "Shares & Securities $120,360" will go way down next time you're posting this again

Reply With Quote
  #3 (permalink)  
Old 24-11-2008, 09:57 AM
low-paid--
Guest
 
Posts: n/a
Default 3422

How many peopl actually have a net wealth of 300k?

Way over skwewed

Reply With Quote
  #4 (permalink)  
Old 24-11-2008, 10:12 AM
adiemuso--
Guest
 
Posts: n/a
Default 3423

over 50% of Singaporeans earn less than $3000 per month..minus the daily and monthly neccessities and expenses..at best u are left with $500.

anyway the figures are wrongly skewed...but it does highlight one important fact..the income disparity or wealth distribution is badly skewed here in SG....
Reply With Quote
  #5 (permalink)  
Old 24-11-2008, 12:26 PM
SGDividends--
Guest
 
Posts: n/a
Default 3424

Does it include Permanent Residents? Anyway Shares and Securities are not accurate. It could be more as singaporeans buy US shares and these US shares are not custodised with CDP(SGX) but in US custodians.

Singaporeans are either filthy rich or super savers...!


Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


Bursa Stocks Android App - check share prices
Bursa Stocks [Android] App - check latest share prices on the go


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #6 (permalink)  
Old 24-11-2008, 01:54 PM
Charles--
Guest
 
Posts: n/a
Default 3426

The *average* has no meaning whatsoever.
What matters is *median*.
Reply With Quote

  #7 (permalink)  
Old 24-11-2008, 09:10 PM
5m10y--
Guest
 
Posts: n/a
Default 3429

100% agree with Charles. With "average", 1 person with a net worth of 100 million can bring the average up even though the overwhelming majority earn way less than the resulting average.

What we're looking for is median, correct.
Reply With Quote
  #8 (permalink)  
Old 29-11-2008, 12:40 AM
broadmind--
Guest
 
Posts: n/a
Default 3462

700K per household looks pretty high, probably skewed by the ultra wealthy. nonetheless, it does go to show how wealthy singaporeans are as a whole, due to super saving habits and rapid economic progress
Reply With Quote
  #9 (permalink)  
Old 29-11-2008, 07:56 AM
5m10y--
Guest
 
Posts: n/a
Default 3469

Do you think most Singaporeans have super saving habits? Quite a number of my friends actually live paycheck to paycheck leh. How about yours?
Reply With Quote
  #10 (permalink)  
Old 30-11-2008, 03:48 PM
broadmind--
Guest
 
Posts: n/a
Default 3488

Most of my peers are good savers. I save around 50% of my income
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Are you a Prodigious Accumulator of Wealth? Salary.sg Investments and Net Worth 7 29-07-2009 04:23 PM
Ex-Engineer now Makes 300k doing Sales Salary.sg Income and Jobs 0 28-07-2008 11:11 PM
High IQ does not equal Wealth Salary.sg Investments and Net Worth 0 25-04-2007 11:13 AM

» 30 Recent Threads
Career as Teacher ( 1 2 3... Last Page)
11,837 Replies, 7,274,804 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,595 Replies, 1,276,882 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
1,011 Replies, 514,094 Views
Compare civil service salary ( 1 2 3... Last Page)
16,540 Replies, 13,031,926 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
18,744 Replies, 5,610,732 Views
How much are you earning per annum? ( 1 2 3... Last Page)
14,394 Replies, 6,673,206 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
6,135 Replies, 4,968,317 Views
GovTech ( 1 2 3... Last Page)
6,681 Replies, 2,673,897 Views
SLA (Singapore Land Authority) ( 1 2)
10 Replies, 11,345 Views
Lawyer Salary ( 1 2 3... Last Page)
21,497 Replies, 10,925,106 Views
Factual Local Bank Salaries - DBS... ( 1 2 3... Last Page)
1,966 Replies, 1,582,495 Views
Roles in accenture singapore ( 1 2 3... Last Page)
8,194 Replies, 2,608,488 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,611 Replies, 4,033,062 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,696 Replies, 1,522,561 Views
Any Ministry or Statboard still... ( 1 2 3... Last Page)
31 Replies, 15,219 Views
ST Electronics ( 1 2 3... Last Page)
3,976 Replies, 1,719,316 Views
Stat board tiers ( 1 2 3... Last Page)
79 Replies, 149,750 Views
MFA- Foreign Service... ( 1 2 3... Last Page)
69 Replies, 91,909 Views
How is life as a doctor in... ( 1 2 3... Last Page)
7,640 Replies, 3,681,708 Views
PSA International ( 1 2 3... Last Page)
112 Replies, 106,095 Views
Best Stat board/Ministry ( 1 2 3)
25 Replies, 39,724 Views
when you quit how many days do you... ( 1 2)
19 Replies, 8,032 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
2,357 Replies, 1,203,420 Views
For those with 2-5 YOE, what is... ( 1 2 3... Last Page)
1,209 Replies, 483,785 Views
Rakuten Software Engineer (Fresh... ( 1 2)
14 Replies, 6,829 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
930 Replies, 496,783 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,441 Replies, 732,911 Views
JP Morgan ( 1 2 3... Last Page)
215 Replies, 196,452 Views
New Employer asked for CPF...
5 Replies, 19,546 Views
Keppel Associate Programme 2018 ( 1 2 3... Last Page)
42 Replies, 53,345 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 12:08 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2