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Whats your net worth

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  #1151 (permalink)  
Old 10-07-2013, 04:33 PM
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Originally Posted by currents ityngg View Post
So many bullshiter here claimed their networth worth million dollars. Infact, avg Singapore networth is just $300k-400k. Many are just desperate debtors, considering the fact that Singapore living cost are pretty expensive, and low quality of life.

What's makes you better off by having a $50m of GCB? While neighbouring countrymen also can build a beautiful bungalow at fraction of cost. What's makes you enjoy better by having $5m condos while average peoples in other country could also get it at much lower price. What's the point of having $1m asset in the bank and you're walking on foot, while those who has fraction of money in another country could have a car.

I mean this is life. You don't need to collect a lot of money and you couldn't even enjoy it until you die. A house is just a house, to protect you from rain and shine, a car is also just a car to move you from point A to B. You need to enjoy the life, which by itself is a blessing. Having more zero in your banks doesn't make your life different from others. You just need all these basic things as normal and most important is happiness, joy, and health.
dun be childish, most rich mega millionaires have multiple PRs, vacation villas and cars overseas. they only keep sg passport for tax and security reason. u really think anyone with $2-3mil passive income stay and walk around in sg like u?

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  #1152 (permalink)  
Old 10-07-2013, 05:08 PM
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Originally Posted by currents ityngg View Post
So many bullshiter here claimed their networth worth million dollars. Infact, avg Singapore networth is just $300k-400k. Many are just desperate debtors, considering the fact that Singapore living cost are pretty expensive, and low quality of life.

What's makes you better off by having a $50m of GCB? While neighbouring countrymen also can build a beautiful bungalow at fraction of cost. What's makes you enjoy better by having $5m condos while average peoples in other country could also get it at much lower price. What's the point of having $1m asset in the bank and you're walking on foot, while those who has fraction of money in another country could have a car.

I mean this is life. You don't need to collect a lot of money and you couldn't even enjoy it until you die. A house is just a house, to protect you from rain and shine, a car is also just a car to move you from point A to B. You need to enjoy the life, which by itself is a blessing. Having more zero in your banks doesn't make your life different from others. You just need all these basic things as normal and most important is happiness, joy, and health.
What low quality of life in Singapore? Most of our neighbors dare not buy landed property in case they get broken into and robbed by criminals carrying parangs. Or go collect car in shopping mall and get raped and killed. What's the point in being rich when you can't go out with your jewelry or rolex in case someone on a motorcycle chops off your hand to get it. What's the point in having a cheap proton car in KL if you have constant jam. But better to have car stuck in jam otherwise it's PMI 2.5 in hazardous range 365 days of the year.

Having more zeros in your bank account means fine dining, traveling to exotic destinations in style, first class medical care, best education overseas for your children. If you are happy at hawker center, trips to Batam and polyclinic and polytechic, then fine, don't work hard.

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  #1153 (permalink)  
Old 10-07-2013, 05:14 PM
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dun be childish, most rich mega millionaires have multiple PRs, vacation villas and cars overseas. they only keep sg passport for tax and security reason. u really think anyone with $2-3mil passive income stay and walk around in sg like u?
Hi come on, I'm not walking anyway. I've 2 SUV cars. My point is what is consider as "net worth" are investable asset, not including primary resident, and not including your debt. By definition, you will be consider as HNWI only if your "net worth" are more than $1M USD. And this probably less than 10% of Singapore population. And what make me sick in this forums is seems like >80% are HNWI, so kind of difficult to get the truth. Its doesn't represent the sampling at all.

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  #1154 (permalink)  
Old 10-07-2013, 05:31 PM
currents ityngg
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What low quality of life in Singapore? Most of our neighbors dare not buy landed property in case they get broken into and robbed by criminals carrying parangs. Or go collect car in shopping mall and get raped and killed. What's the point in being rich when you can't go out with your jewelry or rolex in case someone on a motorcycle chops off your hand to get it. What's the point in having a cheap proton car in KL if you have constant jam. But better to have car stuck in jam otherwise it's PMI 2.5 in hazardous range 365 days of the year.

Having more zeros in your bank account means fine dining, traveling to exotic destinations in style, first class medical care, best education overseas for your children. If you are happy at hawker center, trips to Batam and polyclinic and polytechic, then fine, don't work hard.
Do you read the news or see the reality. Hundred millions of peoples overseas bought landed properties. It's not even a luxury things there. Talking about crime rate, Sg crime rate are just equals to Malaysia. Only the news hides the fact. So you get the same chance of getting rape/robed here. Which big cities that don't have traffic jam anyway?

How much fine dining can you go when you get old and have health problem, why you need to pay extra to go exotic places where most of those location are in third world countries. Best uni is only for smart student, not for rich parents. So many good and cheap hospital, why you need to pay lux bed when your whole body can't even feel the comfort.
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  #1155 (permalink)  
Old 10-07-2013, 05:42 PM
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Originally Posted by currents ityngg View Post
How much fine dining can you go when you get old and have health problem, why you need to pay extra to go exotic places where most of those location are in third world countries. Best uni is only for smart student, not for rich parents. So many good and cheap hospital, why you need to pay lux bed when your whole body can't even feel the comfort.
This kind of logic might as well say we will all die one day so might as well live like African refugee.
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  #1156 (permalink)  
Old 10-07-2013, 08:56 PM
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My wife and I are in our early 60's. We have just retired. We live in a big HDB flat which we bought for $80k many years ago and now it is worth $800k. Our investment in the flat has grown by 10 times, so we strongly support our country's asset enhancement policy. We will give our flat to our son when we both die.

We are both very keen savers and over the years, our CPF and cash grew to about $1m each. While many of our friends incur more debt by upgrading to landed and condos, we stick to our HDB flat. These friends are still working because they don't have much cash savings and they can't bring themselves to downgrade to public housing due to face issue. They also buy big cars while we use public transport. Today, my wife and I are retiring comfortably from the monthly payout of our annuities. $1m each of annuity gives a decent amount every month.
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  #1157 (permalink)  
Old 10-07-2013, 09:14 PM
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My wife and I are in our early 60's. We have just retired. We live in a big HDB flat which we bought for $80k many years ago and now it is worth $800k. Our investment in the flat has grown by 10 times, so we strongly support our country's asset enhancement policy. We will give our flat to our son when we both die.

We are both very keen savers and over the years, our CPF and cash grew to about $1m each. While many of our friends incur more debt by upgrading to landed and condos, we stick to our HDB flat. These friends are still working because they don't have much cash savings and they can't bring themselves to downgrade to public housing due to face issue. They also buy big cars while we use public transport. Today, my wife and I are retiring comfortably from the monthly payout of our annuities. $1m each of annuity gives a decent amount every month.
May I know how much is the monthly payout from a 1m annuity?
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  #1158 (permalink)  
Old 11-07-2013, 11:37 AM
currents ityngg
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You're so lucky that your house price is increase by 10x. But I have a question to you. How are you going cash out those $800k and still maintain the same standard of life? If you sell it out you also need around $800k to buy a new one for you to live.

So that's the reason why "net worth" should not include your primary resident, and your debt.

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Originally Posted by Unregistered View Post
My wife and I are in our early 60's. We have just retired. We live in a big HDB flat which we bought for $80k many years ago and now it is worth $800k. Our investment in the flat has grown by 10 times, so we strongly support our country's asset enhancement policy. We will give our flat to our son when we both die.
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  #1159 (permalink)  
Old 11-07-2013, 11:45 AM
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Originally Posted by currents ityngg View Post
You're so lucky that your house price is increase by 10x. But I have a question to you. How are you going cash out those $800k and still maintain the same standard of life? If you sell it out you also need around $800k to buy a new one for you to live.

So that's the reason why "net worth" should not include your primary resident, and your debt.
he and wife combine have $2mil cash / CPF, cash out the $800k house for what?
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  #1160 (permalink)  
Old 11-07-2013, 12:13 PM
currents ityngg
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You should ask yourself, $2mil cash on the bank, for what? I means, for those 60 years of savings, no holiday, no fine dining, no car, no entertainment, nothing to enjoy, just working-working and collects money. Simply I couldn't live with this kind of lifestyle. And after we are 60 years old we have no appetite for all these things anymore, we only need basic stuff.

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he and wife combine have $2mil cash / CPF, cash out the $800k house for what?


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