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-   -   How rich/poor am I compared to people my age(27)? (https://forums.salary.sg/investments-net-worth/7290-how-rich-poor-am-i-compared-people-my-age-27-a.html)

icyboy 17-05-2016 11:34 PM

How rich/poor am I compared to people my age(27)?
 
I am just wondering how much savings I have compared to my peers?
How much do you have when you are 27yo?

I just reached 27yo, im male I have about 40k in my bank account and 35k in CPF. I know this is not a big amount by any means but still a small fortune. I spent alot on miscellaneous things though, could have been much more.

Unregistered 18-05-2016 11:44 PM

1 year older, 70k cash savings

Unregistered 19-05-2016 08:46 AM

I am 24 years old, in my final year of Uni. Through investments, savings from young etc I have 43k in bank, stocks, bonds. But almost all of my peers are nowhere close, many have no savings and some prudent ones have about 10k.

Good job on saving 40k at 27 YO though, already pretty difficult. Let's say one saves 2k a month (which is a lot), you need 1.5 years to save that amount. Double that if you only save 1k a month.

Maybe the next step would be to start investing. You can start off safe by investing in corporate bonds available on the SGX which can easily net you a 4-5% per annum. After 5 years, you would earn at least 25% of what you invested (5 x 5%). Slowly build up a portfolio and you can have passive income of a few hundred dollars a month.

Unregistered 19-05-2016 10:34 AM

Quote:

Originally Posted by Unregistered (Post 85755)
I am 24 years old, in my final year of Uni. Through investments, savings from young etc I have 43k in bank, stocks, bonds. But almost all of my peers are nowhere close, many have no savings and some prudent ones have about 10k.

Good job on saving 40k at 27 YO though, already pretty difficult. Let's say one saves 2k a month (which is a lot), you need 1.5 years to save that amount. Double that if you only save 1k a month.

Maybe the next step would be to start investing. You can start off safe by investing in corporate bonds available on the SGX which can easily net you a 4-5% per annum. After 5 years, you would earn at least 25% of what you invested (5 x 5%). Slowly build up a portfolio and you can have passive income of a few hundred dollars a month.

Thanks, but I think passive investments are too slow a way to make money unless you have alot of money to invest. I feel it is more for older people. We should look for more ways to actively make money at this age.

Unregistered 19-05-2016 03:07 PM

I am 25 this year (female). Just entered workforce for 9 months only.

Cash $30k, CPF $9K, Investment $22K

Have worked when studying and earned some money adding to current savings.

I am still staying with parents so can save practically 90% of salary every month.

Unregistered 19-05-2016 06:51 PM

Quote:

Originally Posted by Unregistered (Post 85767)
Thanks, but I think passive investments are too slow a way to make money unless you have alot of money to invest. I feel it is more for older people. We should look for more ways to actively make money at this age.

Many youngsters think that bonds are too slow, so many go into forex trading or trying to flip shares. The vast majority lose money, ending up losing 20-50% in a year. Especially given the recent market conditions.

Unregistered 21-05-2016 02:30 PM

i am same age as you, born in 1989...$140k in FD, gold, watches, cash etc and $60k in cpf....

Unregistered 21-05-2016 04:35 PM

Same age. 140k cash and one luxury watch worth 40k. 30k cpf.

Unregistered 21-05-2016 09:06 PM

30 yr old male, 90k savings, investments. 70k cpf

Unregistered 21-05-2016 09:32 PM

For a more realistic view, I have many friends at your age who have little to no savings. Maybe 20k cash.

Unregistered 15-06-2016 03:44 PM

At 27, you should be focusing on your career and opportunities for growth cos with that comes money in the form of higher salaries etc..

You should focus on making more money rather than how much you have, how much you can save or cut expenses ..that's more for retirees ..IMO

Unregistered 17-06-2016 03:38 PM

Can anyone advice how to become forex trader?

Unregistered 17-06-2016 05:11 PM

Quote:

Originally Posted by Unregistered (Post 87328)
Can anyone advice how to become forex trader?

Just graduated from local uni, owe bank 10k plus, current asset only 20k.

Unregistered 13-07-2016 09:46 AM

I work for 2 years only, and I also save around 40K++ (from employment) with lesser CPF as compared to you. I also spend unnecessary amount of money on misc stuff. But is never to late to change your spending habit. you are around the same age as me, so still got enough time to catch up. You should be able to hit 100K target (most common goal for people under 30) before 30 years old.

jia you!

You can follow me on my blog as I will report my progress in reaching my goal

://jyklmoneyblog.blogspot.sg/

Unregistered 31-07-2016 01:22 AM

125K in liquid assets. Just turned 30 years old.

Unregistered 31-07-2016 06:20 PM

Quote:

Originally Posted by Unregistered (Post 88973)
125K in liquid assets. Just turned 30 years old.

What's your total net worth (yours + wife's)?

What's your assets? HDB flat? Shares? Cash? Etc

Unregistered 01-08-2016 11:10 AM

28f

$92k in cash (stocks, investment) ,$8k CPF.

Renovation + wedding done. 1 child.

Bulk of cash came from the year when I was a property agent after I grad from Uni.

But right now my income is probably 20-30% lower than my peers. Will take v long to be on par with them.. I chose an 'easier' career so that I can focus more on my family. Wish to be stress free and go home on the dot kind.

Male will probably have lower savings at the beginning but later on, their salary and career likely to overtake their female friends by a lot.

Unregistered 06-08-2016 04:53 PM

Quote:

Originally Posted by Unregistered (Post 85783)
Many youngsters think that bonds are too slow, so many go into forex trading or trying to flip shares. The vast majority lose money, ending up losing 20-50% in a year. Especially given the recent market conditions.

Young people under 30 should start to work hard and earn money through their job, rather than trying to make easy money from flipping shares and property investments...

Unregistered 11-08-2016 04:18 PM

yes this is true, but savings and investment is VERY important when you are young.

With the magic of compounding, you are much more likely to have more wealth at a faster rate as compared to one who started late.

Read this article to see the magic of compounding:

://.businessinsider.sg/amazing-power-of-compound-interest-2014-7/?r=US&IR=T#THbEEd1t7uBORwF6.97

Unregistered 14-08-2016 10:07 AM

4.4 million. I just strike toto

Unregistered 23-08-2016 08:26 PM

Currently 26. Will be 27 next month.
Married with one kid and another on the way.
Private diploma holder.

Current personal net worth $245,000+ with no liabilities. Car fully paid for. Currently renting a condo unit awaiting BTO completion before moving in.

Used to work for others but owns my own business now.

Owns a couple of watches worth approx. $25,000.

I'm very grateful for the opportunities and help I've encountered and garnered during my down time. I don't think I'm doing exceptionally well but I think I'm doing better than most of my peers, though I've known many high flyers that have achieved much more than I have. But comparison is a thief of joy. So working hard now to achieve my dreams.

Ultraman 16-09-2016 10:10 PM

Quote:

Originally Posted by Unregistered (Post 89781)
Currently 26. Will be 27 next month.
Married with one kid and another on the way.
Private diploma holder.

Current personal net worth $245,000+ with no liabilities. Car fully paid for. Currently renting a condo unit awaiting BTO completion before moving in.

Used to work for others but owns my own business now.

Owns a couple of watches worth approx. $25,000.

I'm very grateful for the opportunities and help I've encountered and garnered during my down time. I don't think I'm doing exceptionally well but I think I'm doing better than most of my peers, though I've known many high flyers that have achieved much more than I have. But comparison is a thief of joy. So working hard now to achieve my dreams.

WOAH.. What do you work as dude?

Unregistered 27-10-2016 09:39 PM

30/m, single. 3rd class honours from a private uni.

Worked for others for a while. Went into business and endured 2 failed partnerships. Lost all my savings after the last failed business.

Have been running my own business for 3 years.

About 400+k in cash, 25k in stocks and bonds.
About 200k of assets in the business.
Less than 30k in CPF though.
No liabilities.

Living with parents and driving an entry level continental car, fully paid.

前路茫茫 31-10-2016 09:07 AM

Interesting topic,
BTW, WHAT business you running >

Unregistered 07-11-2016 03:45 PM

30M
education. private diploma.
Cash $400k.
6 rolex $80k.
CPF $10k
Rent condo no car.
Rides e-bike.
Occupation: runs own business. put it nicely its talent management firm. actual biz is social escort services and etc etc.. :)
Monthly income 20k-30k depends on season.

olafkong 27-11-2017 02:46 PM

when i am 25 years old i got like 2k in my bank account, and that is 9 years ago, i was yolo back then , really good job you got there

icyboy 27-11-2017 04:57 PM

Quote:

Originally Posted by Unregistered (Post 89781)
I'm very grateful for the opportunities and help I've encountered and garnered during my down time. I don't think I'm doing exceptionally well but I think I'm doing better than most of my peers, though I've known many high flyers that have achieved much more than I have. But comparison is a thief of joy. So working hard now to achieve my dreams.

Actually the happiest times are when I was a teen with no money to my pocket. Even if you have money doesn't necessary mean you are happy. Happiness is a state of mind.

Btw quick update, now im 28 years old. My total cash+CPF+investments about $110k already. Next step aiming to be a millionaire before 35. :D

Unregistered 27-11-2017 06:59 PM

29 y o, M, single.

Cash + CPF OA = 122k

That is approxomately what I have. I dont invest,no shares,no house and have spent money on further studies and repayment of school loan from 2012 to 2016, amounting to 41k.

olafkong 27-11-2017 10:57 PM

Wah u guys start to save so much when young ? I only started to save when my baby gal is 1 year old , before that every month just party and left with less than 10 k in bank then splurge again .

Supwarrior 06-12-2017 07:23 AM

It is always good to save early.

motmaria 26-12-2017 04:48 AM

Hi, everybody!
From my point of view, the estimation of your capital state can be approved by your investing activities. Most probably it is hard to accept when you are 27, but if your investment activity is on....it can tell many things)
For example, if you buy property somewhere in Europe or States, it can be the factore which ifluence youe financial state!
Have a nice day)

Unregistered 27-12-2017 11:24 AM

30 yo

213K net worth, spread out in FDs and SSBs.

Unregistered 03-01-2018 03:24 PM

26 y/o. 270k networth - 170k in cash + SSBs + stocks and 100k in CPF.

Unregistered 07-01-2018 11:05 PM

28yo (as of 2017)
$500k networth

$350k investment assets, $110k CPF, $40k cash

Unregistered 11-01-2018 09:09 PM

My networth
 
22 Years old

$1.6 million networth (Crypto worth)
$600K networth (Cash out from crypto) XD

Unregistered 11-02-2018 09:08 AM

36yo

4.9million Networth

4 million in 3 small condos, 0.9 million in REITs + Stocks

No car. Take bus to work.

Unregistered 28-02-2018 03:42 PM

How come so many rich people in here?

I just turned 26m at 80k networth (all cash). feel so poor.

Unregistered 05-03-2018 11:57 PM

25 this year, final year undergrad.
45k liquid cash.

Unregistered 10-04-2018 05:05 PM

Wow
 
Wow, you all start running businesses when you are 16?

I only studied all my life. 27m and only $24,000 liquid cash in bank. And this is with frugal lifestyle, no partying, no drinking, no shopping. I dunno I study for what.

Unregistered 20-04-2018 03:25 PM

24(m) here
nitec holder here

bought a car recently so left around 600k+ worth in cash mainly due to toto a few month ago

doing a system admin it job 2.1k

any advice for me, I am quite stupid so maybe would be good to invest in some low risk stuffs that generate more $ than fd , should i get a private dip then move on to degree?


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