Whats your net worth

Wife net worth $700k
My net worth $1.7m
Kids net worth $50k
Total net worth $2.45m
Live in condo, own a European car, has a maid.
Mid 40s couple

Quite average for a Singaporean professional couple in their mid-40s.
The top performers have net worth of at least $10m.

Looks like you need to downgrade to a HDB flat upon retirement.
Alternatively, you can retire in third world countries.
You can retire in KL, JB, Bangkok and live in a condo there.

Originally Posted by Unregistered

Wife net worth $700k
My net worth $1.7m
Kids net worth $50k
Total net worth $2.45m
Live in condo, own a European car, has a maid.
Mid 40s couple

Originally Posted by Unregistered

Quite average for a Singaporean professional couple in their mid-40s.
The top performers have net worth of at least $10m.

Looks like you need to downgrade to a HDB flat upon retirement.
Alternatively, you can retire in third world countries.
You can retire in KL, JB, Bangkok and live in a condo there.

Are you so sure about top performers having at least 10M? Consider the property values at prime locations such as orchird and sentosa. A condo would cost at least 12M, and a landed property at 15M and beyond. Now consider how many residents reside there. At least 40,000 at prime locations, and that is only about a notch below a percent of singapore's population.

An average actual "top" performer would have at least 20M by my guess - around equity 7M-15M in property (not including mortgage ) and 5M and beyond in financial assets.

The median wealth in singapore is only about 30K in 2010, while gdp per capita was 50K.
You or anyone else would find that the life savings of the average or the poor at a mere 30K, lacklustre against the supposed fair average earnings of a single person,if we were to take gdp and evenly distribute it per person at 50K. The top 1% earns an estimated average of 800K a year, and that is only the average. Taking into account the skew caused by those earning even more, a 0.1% earner could be making upwards of 2M. Thats around 3,000 people in Singapore making that amount if we take the working population at 3M.

We are all poor losers in this capitalist-autocratic nation.

Among the best cities to retire, you can look at KL. JB is not so safe in comparison.

Jannah - Eternal Home - YouTube

In KL, areas worth looking at are Mont Kiara, Bangsar and KLCC.

Originally Posted by Unregistered

Quite average for a Singaporean professional couple in their mid-40s.
The top performers have net worth of at least $10m.

Looks like you need to downgrade to a HDB flat upon retirement.
Alternatively, you can retire in third world countries.
You can retire in KL, JB, Bangkok and live in a condo there.

Originally Posted by Unregistered

Are you so sure about top performers having at least 10M? Consider the property values at prime locations such as orchird and sentosa. A condo would cost at least 12M, and a landed property at 15M and beyond. Now consider how many residents reside there. At least 40,000 at prime locations, and that is only about a notch below a percent of singapore's population.

An average actual "top" performer would have at least 20M by my guess - around equity 7M-15M in property (not including mortgage ) and 5M and beyond in financial assets.

The median wealth in singapore is only about 30K in 2010, while gdp per capita was 50K.
You or anyone else would find that the life savings of the average or the poor at a mere 30K, lacklustre against the supposed fair average earnings of a single person,if we were to take gdp and evenly distribute it per person at 50K. The top 1% earns an estimated average of 800K a year, and that is only the average. Taking into account the skew caused by those earning even more, a 0.1% earner could be making upwards of 2M. Thats around 3,000 people in Singapore making that amount if we take the working population at 3M.

We are all poor losers in this capitalist-autocratic nation.

Most of them living in condos more than $10M and drive super sports cars are not locals..

Most professional couples who have a decent manager job should be able to retire with household net worth of $5mil comfortably. Be content and dont keep compare with the super rich in Sentosa.

True. I think by 55, most average professional couples should have $5m net worth. If they continue working, this could grow to $6.5m by 60.

The super rich earn $1m to $2m yearly. No comparison.

Originally Posted by Unregistered

Most professional couples who have a decent manager job should be able to retire with household net worth of $5mil comfortably. Be content and dont keep compare with the super rich in Sentosa.

Originally Posted by Unregistered

True. I think by 55, most average professional couples should have $5m net worth. If they continue working, this could grow to $6.5m by 60.

The super rich earn $1m to $2m yearly. No comparison.

how do you accumulate $5m if husband and wife are both managers earning a total (at peak) of only 200k pa? if they work for 30 years, the manager couple has to save an average of $166k per year. $2.5m is a more realistic figure.

Those who are >30 and benefit from speculating property can easily retire with >5mil net worth by 50 yrs old. My cousin made close to $4mil by flipping property in 10 years.

The problem is the young ones who about to or just graduate miss the property boom, they will have to find another way to make quick money, otherwise retirement will be a big problem.

Originally Posted by Unregistered

Those who are >30 and benefit from speculating property can easily retire with >5mil net worth by 50 yrs old. My cousin made close to $4mil by flipping property in 10 years.

The problem is the young ones who about to or just graduate miss the property boom, they will have to find another way to make quick money, otherwise retirement will be a big problem.

$4M is quite impressive.

I made only $1.8M from property in the last 10 years, started with capital of $200K.