Whats your net worth

Today's ST reported there are now 101,000 millionaires in Singapore (net worth of US$1m or more, excluding primary residence, collectibles and consumables).

I'm happy to announce I am one of the people who has just joined the ranks of millionaires in Singapore (top 2% of the Singapore population). Excluding my condo where I am staying, my net worth is now S$1.3m. Including my condo, which I share with my wife, my personal net worth is more.

I am happy with my achievement so far as my net worth 10 years ago in 2003 was only about $250k. I am now 44 years old. Within 10 years, my net worth multiplied by many folds. My wealth comes from my salary, bonuses and astute, timely investments.

Coming from a poor background, I really do appreciate our Singapore government and system. I fully support our excellent Singapore government.

Is the $1.3m all yours or include your wife's portion?

anyway, by the time you are 60, your net worth would reach $6m.

This is what most professional couples would have when they continue to work till 60.

Originally Posted by Unregistered

Today's ST reported there are now 101,000 millionaires in Singapore (net worth of US$1m or more, excluding primary residence, collectibles and consumables).

I'm happy to announce I am one of the people who has just joined the ranks of millionaires in Singapore (top 2% of the Singapore population). Excluding my condo where I am staying, my net worth is now S$1.3m. Including my condo, which I share with my wife, my personal net worth is more.

I am happy with my achievement so far as my net worth 10 years ago in 2003 was only about $250k. I am now 44 years old. Within 10 years, my net worth multiplied by many folds. My wealth comes from my salary, bonuses and astute, timely investments.

Coming from a poor background, I really do appreciate our Singapore government and system. I fully support our excellent Singapore government.

Originally Posted by Unregistered

Is the $1.3m all yours or include your wife's portion?

anyway, by the time you are 60, your net worth would reach $6m.

This is what most professional couples would have when they continue to work till 60.

The $1.3m is just mine. My wife's net worth (also excluding our home) is about $0.5k.
Including our primary home, our combined net worth is much, much more.
For our retirement, if we can afford, we will continue to stay in our condo. If we can't afford, we will just sell our condo and buy a small HDB flat. Our target net worth (including our condo, which is located in the prestigious Upper Bukit Timah District) by 60 is $7m.

The two sides to the same coin. On one side, there are the posters who claimed / boasted their million dollars in net worth, on the other side there are posters who do not believe all the claims/boast based on their own situation / peers.

Well, this is really the two sides to the same coin, and it all depends on which side you are in.

Singapore is really a place which has the highest percentage of millionaires in the world:
Singapore No. 1 For Millionaires ? Again - Southeast Asia Real Time - WSJ

Like you, I am also a millionaire, at least for now. However, I live in a 4 room HDB flat, which is paid up. Since my wife feels we are successful and wants her friends to know she is successful, she is urging me to buy a condo. So, I will be buying a condo which will cost me $1.5m and since I don't like the idea of having a mortgage for our home, I will be paying in full. So, after the sale of my flat, I will use the sale proceeds plus my cash to pay for the condo. Since the definition of a millionaire doesn't include our primary home, after I buy the condo, I will no longer be a millionaire as the amount of investable asset I will then have will be less than US$1. So sad, I can't tell my friends I'm a millionaire any more, the only consolation I have is that I can tell them I now live in a condo with nice big swimming pool, gym and tennis court. My wife will be very happy as she can tell her friends that she now lives in a condo.

Originally Posted by Unregistered

Today's ST reported there are now 101,000 millionaires in Singapore (net worth of US$1m or more, excluding primary residence, collectibles and consumables).

I'm happy to announce I am one of the people who has just joined the ranks of millionaires in Singapore (top 2% of the Singapore population). Excluding my condo where I am staying, my net worth is now S$1.3m. Including my condo, which I share with my wife, my personal net worth is more.

I am happy with my achievement so far as my net worth 10 years ago in 2003 was only about $250k. I am now 44 years old. Within 10 years, my net worth multiplied by many folds. My wealth comes from my salary, bonuses and astute, timely investments.

Coming from a poor background, I really do appreciate our Singapore government and system. I fully support our excellent Singapore government.

Like you, I am also a millionaire, at least for now. However, I live in a 4 room HDB flat, which is paid up. Since my wife feels we are successful and wants her friends to know she is successful, she is urging me to buy a condo. So, I will be buying a condo which will cost me S$1.5m and since I don't like the idea of having a mortgage for our home, I will be paying in full. So, after the sale of my flat, I will use the sale proceeds plus my cash to pay for the condo.

Since the definition of a millionaire doesn't include our primary home, after I buy the condo, I will no longer be a millionaire as the amount of investable asset I will then have will be less than US$1m. So sad, I can't tell my friends I'm a millionaire any more, the only consolation I have is that I can tell them I now live in a condo with nice big swimming pool, gym and tennis court. My wife will be very happy as she can tell her friends that she now lives in a condo. We are also changing our car to a new conti car. She says it is part of her image building. What to do? We men just follow ...

Originally Posted by Unregistered

Today's ST reported there are now 101,000 millionaires in Singapore (net worth of US$1m or more, excluding primary residence, collectibles and consumables).

I'm happy to announce I am one of the people who has just joined the ranks of millionaires in Singapore (top 2% of the Singapore population). Excluding my condo where I am staying, my net worth is now S$1.3m. Including my condo, which I share with my wife, my personal net worth is more.

I am happy with my achievement so far as my net worth 10 years ago in 2003 was only about $250k. I am now 44 years old. Within 10 years, my net worth multiplied by many folds. My wealth comes from my salary, bonuses and astute, timely investments.

Coming from a poor background, I really do appreciate our Singapore government and system. I fully support our excellent Singapore government.

$4m is nothing these days, I am also $4m net worth, $3.98m fully paid up at 49, still feel poor as a church mouse, eat $2 lunch only.

Wah so many rich & successful people here! I am 28 and only have 450k worth of investments. Hope to hit millionaire in 5 years.

Originally Posted by Unregistered

Wah so many rich & successful people here! I am 28 and only have 450k worth of investments. Hope to hit millionaire in 5 years.

Are you married yet? If not, better get a wife fast. You will then need to buy a condo. So if you buy a $2m condo, your $450k can be used for downpayment. And you cannot be millionaire.

My father is going to be 65 next year. His only assets are his Bukit Timah semi D, which is worth $5m today, and cash of about $1m. I told him that he cannot retire with just $1m. So I advised him to sell his house and buy one of the new condos in the Hillview/ Petir Road area. He can get a nice 2 bedroom brand new unit for only $1m, this is very cheap compared to the condos in Bukit Timah, which is only a few km away. So after selling his house and buying a condo, he will have about $5m to invest. He can easily get 5% annual dividend, which gives him a passive income of $250k per year. He can relax, and travel the world with that kind of income. If he stays in his expensive house, he can't retire.