Whats your net worth

55, net worth only $2m, including HDB flat worth $800k. Below average. All my friends have net worth of more than $4m. Any advice how I can retire now? My health not that great now, worked too long and too hard for many years. Please advise. Thanks.

Originally Posted by Unregistered

55, net worth only $2m, including HDB flat worth $800k. Below average. All my friends have net worth of more than $4m. Any advice how I can retire now? My health not that great now, worked too long and too hard for many years. Please advise. Thanks.

There are too many multi-millionaires staying in HDB.

Hi, me (27) girlfriend (26) planning to buy a car, house and get married in the next 2 -3 years.
She currently works around AMK/Yishun area and she stays with my parents on the east side. Planning to buy a car ~100K with 50% downpayment, and rest for 5year loan... Should we?

Background: We are 180K (liquid) in cash, stocks and CPF combined. No debt, no credit cards. All schooling was funded by scholarships/part-time work. Both our monthly take home pay combined is around 12.5K. Not elligible for HDB. Too many restrictions for exec condo. But condo is too high right now...haiz

Should we go ahead and buy the car? Monthly repayment about 1.2K+ and maybe 500+ for expenses. Shouldn't be a problem. Any older experienced folks care to advise?

just wondering what other Singaporean at my age is doing in Singapore with family of 2 kids.

Cold hard cash: S$1.1million
Stocks: S$30K



(+)After Tax Annual income:S$120K (exclude bonus)
(+)Home 3 room HDB valued at S$400+K (rent out nett income 16k per annum)
(-) Pure expenditure: S$20k - 35K per annum
(=) annual savings S$116K - S$101K per annum

Originally Posted by Unregistered

just wondering what other Singaporean at my age is doing in Singapore with family of 2 kids.

Cold hard cash: S$1.1million
Stocks: S$30K



(+)After Tax Annual income:S$120K (exclude bonus)
(+)Home 3 room HDB valued at S$400+K (rent out nett income 16k per annum)
(-) Pure expenditure: S$20k - 35K per annum
(=) annual savings S$116K - S$101K per annum

Are these numbers combined wealth, income and combined expenditure?

If so, it's already very good. My wife and I earn much more, but are only slightly above you in wealth.

If not, you're way ahead of us. How did you accumulate so much cash?

Originally Posted by Unregistered

Are these numbers combined wealth, income and combined expenditure?

If so, it's already very good. My wife and I earn much more, but are only slightly above you in wealth.

If not, you're way ahead of us. How did you accumulate so much cash?

wow! how do you keep your expenditure so low with 2 children??

Though your savings are high for your age I wouldn't commit to a depreciating liability until you got a income generating asset.

Once you got a car you have to factor in the cost of insurance, car parking (near office/HDB), ERP, modification (every guys dream), servicing etc which will easily add another couple of hundreds to your monthly cost.

At this age now with this kind of cash it’s a make or break factor IMO, for instance you could buy a resale flat with 180K and aggressively payback then save for investment? Or you could save and wait for the property market to dip and buy investment property etc, all the options available unless you have less cash and furthermore monthly obligation.

Don't forget when you get married you're gonna have to set aside maybe 30 plus K for wedding dinner etc, if you buy a house renovation cost easily another 30K not to mentioned down payment etc.

Give you an personal example when I was about your age I made 150K windfall from a punt in the market, I so wanted to and buy my dream car went to see the car, did my sums etc. At the end I could justify the depreciation and ended buying an apartment for investment with my parents. That apartment which I still have now gives me positive income yield and also has risen price wise has gain 80% of its purchase value.

So what I am trying to say is that hold the money be patient and invest wisely, the money you make while you are 25 - 35 could very well determine how comfortable you lead your life when you are 45 – 60 (won’t you feel good if your career at 45/50 was at risk but you have an investment to fall back on?). If you must go for a cheaper car, 2nd hand and reliable. This way if things go south you can always lose it with no regrets.

Good luck

Originally Posted by MiddleClass

Hi, me (27) girlfriend (26) planning to buy a car, house and get married in the next 2 -3 years.
She currently works around AMK/Yishun area and she stays with my parents on the east side. Planning to buy a car ~100K with 50% downpayment, and rest for 5year loan... Should we?

Background: We are 180K (liquid) in cash, stocks and CPF combined. No debt, no credit cards. All schooling was funded by scholarships/part-time work. Both our monthly take home pay combined is around 12.5K. Not elligible for HDB. Too many restrictions for exec condo. But condo is too high right now...haiz

Should we go ahead and buy the car? Monthly repayment about 1.2K+ and maybe 500+ for expenses. Shouldn't be a problem. Any older experienced folks care to advise?

Originally Posted by Unregistered

wow! how do you keep your expenditure so low with 2 children??

My kids are still young thus not much spending.... yet! but expecting this to rise exponentially.
BTW, i have no maid nor car to burden.

Originally Posted by Unregistered

Are these numbers combined wealth, income and combined expenditure?

If so, it's already very good. My wife and I earn much more, but are only slightly above you in wealth.

If not, you're way ahead of us. How did you accumulate so much cash?

u are ahead of us, my wife not working.

Originally Posted by Unregistered

Are these numbers combined wealth, income and combined expenditure?

If so, it's already very good. My wife and I earn much more, but are only slightly above you in wealth.

If not, you're way ahead of us. How did you accumulate so much cash?

and the figures are combined figures.