Whats your net worth

Originally Posted by Unregistered

Wow, that's amazing. How did your wealth rise 6x? Did you sell any of your properties away? How much is your passive income now?

It seems obvious. He bought a primary residence cheap, which has jumped in value, but is still in debt for the two condos that he bought. So if you take out the primary residence, which he is consuming at a high rate, after you subtract the mortgages, he isn't worth very much.

Originally Posted by whizzard

Why not? I don't see any reason why you should feel otherwise.

There will always be societal expectations but everyone's circumstances is different. Build upon and enjoy this new phase of life you are embarking upon now.

I would also like to call it quits some day. However, I havent the faintest idea what I would do with my life if I were to stop working.

Good luck and keep mentally and physically active.

WHIZZARD you are back!!! Welcome back!! It's been a long 2 years old friend.

PS: i don't know you personally but i read your posts =)

Originally Posted by Unregistered

Wow, that's amazing. How did your wealth rise 6x? Did you sell any of your properties away? How much is your passive income now?

After retiring, focus on investing in equities. Got lucky with one stock, and plough proceeds into RE. Now, own four properties including primary residence. Passive income from RE is about $12,000 per month. About $6,500 from equities.

In response to the other poster - net worth is defined as total asset less owner-occupied. Owner-occupied has no debt and is worth about $1.6 mil.

[whizzard]

Originally Posted by Unregistered

WHIZZARD you are back!!! Welcome back!! It's been a long 2 years old friend.

PS: i don't know you personally but i read your posts =)

Hi hi ..... yeah, have been a little preoccupied over the past few years. Back here hoping to learn, hear and share ideas and experiences with fellow forumers.

Cheers!

I'm a poor guy and I want to be rich. I only earn $50k pa.
I live in a small HDB flat with wife and kids.
What should I do? What can I invest in to be rich?
Can any guru here please help advise?
Thank you.

What is your current profession? If you look at your current company now and see that even the top man is not earning much, then quickly get out of it. Meaning that no matter how hard you work and how high you rise, your pay will not be much.

People who earn a lot of money belong largely to two groups. One group are those who are highly skilled and their skills are in high demands - lawyers, engineers, doctors, bankers, etc... The other group are the business people - entrepreneurs who take risks and hugely rewarded for it.

You gotta think out of your comfort zone

Originally Posted by Unregistered

I'm a poor guy and I want to be rich. I only earn $50k pa.
I live in a small HDB flat with wife and kids.
What should I do? What can I invest in to be rich?
Can any guru here please help advise?
Thank you.

Originally Posted by Unregistered

What is your current profession? If you look at your current company now and see that even the top man is not earning much, then quickly get out of it. Meaning that no matter how hard you work and how high you rise, your pay will not be much.

People who earn a lot of money belong largely to two groups. One group are those who are highly skilled and their skills are in high demands - lawyers, engineers, doctors, bankers, etc... The other group are the business people - entrepreneurs who take risks and hugely rewarded for it.

You gotta think out of your comfort zone

Engineers should be excluded. the top engineers make about half a million only, and these are few and far between. On the other hand, there are relatively many more top lawyers, doctors and bankers (especially), who make multiple millions.

I happened to chance upon this forum. Found the sharings very interesting, didn't know there are so many local folks who are so rich. Who says Sporeans are not rich? The locals are indeed rich.

As for my family, we are below average in net worth. My wife and I have a combined net worth of only $2m. Our condo is now worth $1m, with loan of $250k left. The balance is our CPF, savings and investments. We are in our forties. We are in the lower income group among our grads friends.

Originally Posted by Unregistered

I happened to chance upon this forum. Found the sharings very interesting, didn't know there are so many local folks who are so rich. Who says Sporeans are not rich? The locals are indeed rich.

As for my family, we are below average in net worth. My wife and I have a combined net worth of only $2m. Our condo is now worth $1m, with loan of $250k left. The balance is our CPF, savings and investments. We are in our forties. We are in the lower income group among our grads friends.

What is the average net worth for your age group, and for your group of grad friends?

48 & 50 yo couple, earning S$150k pa combined. Net worth including home S$2.4m. Drives a 6 yo European car. We consider ourselves below average. Many people in our age group has net worth of S$4m or more. But we are contented if compared to billions of poor people in the world, even those in US, Europe. Just look at Greece. We are very fortunate, very happy living in Singapore.