Whats your net worth

Originally Posted by Unregistered

I used to live in a terrace house. Sold it for $2.5m and bought a $1.2m condo, fully paid. Plus my savings, I now have about $1.6m of an investment portfolio which gives me an annual dividend of $80k. While I have retired from my corporate job, my wife is still working, earning $90k pa. So we earn a total income of $170k pa, while we spend $130k pa. I am now a multi-millionaire debt-free retiree investor at the age of 48 and I aim to be a multi-millionaire with a net worth of $5m by the time I reach 65 and $10m at 85.

I need help. I am tired from the bankers.
I am 36 year old single.
My story: Everytime i go to my banks, DBS, POSB or UOB, they will keep forcing me to invest money. One of them put it in such lucarative fashion saying I have nothing to lose only gains that convinced me and i put 500$ per month. Heck, every month pay 500$ for next 15 years. And at end of 15 years, I get the same money I gave them + some interest/bonus. WTF. Is this considered investment?

I am able to spend a max of another 500$ from my take home salary. What should I do?

I don't get it. How often do you need to go the banks, some more so many different banks! You sounded like a big time person but yet you say you have $500 per month to spare?

I only go the banks during CNY to get new notes, everything else is either online or ATM.

Strange indeed. Also, you can always politely say no thanks to them. No stress at all

Originally Posted by Unregistered

I need help. I am tired from the bankers.
I am 36 year old single.
My story: Everytime i go to my banks, DBS, POSB or UOB, they will keep forcing me to invest money. One of them put it in such lucarative fashion saying I have nothing to lose only gains that convinced me and i put 500$ per month. Heck, every month pay 500$ for next 15 years. And at end of 15 years, I get the same money I gave them + some interest/bonus. WTF. Is this considered investment?

I am able to spend a max of another 500$ from my take home salary. What should I do?

Originally Posted by Unregistered

I don't get it. How often do you need to go the banks, some more so many different banks! You sounded like a big time person but yet you say you have $500 per month to spare?

I only go the banks during CNY to get new notes, everything else is either online or ATM.

Strange indeed. Also, you can always politely say no thanks to them. No stress at all

i go about 2-3 times a month. Mostly to get documents signed or withdraw cash as my atm card cannot withdraw high amount. Only at counter can. I am a normal guy maybe lost thats why have opened so many saving accounts in different bank. I use different bank account for different purpose.

Account 1 - I keep saving for future and use it when i need to buy something very costly. I transfer part of my salary to this account.
Account 2 - for my monthly expenses.
Account 3 - Kept 5k. I dont touch it or use it for anything. It is more like a fixed deposit for me. Only thing is if I really need it (after zeroing my Account 1), I can easily take out money from this account too.

After all my deductions and transfers to my Account 1 and my monthly expenses, i can put 500$ aside. It is a huge amount for me. I dont how how to use this money wisely.

A school principal can accumulate $3m. So what is $4m for a relatively high earner?

Former school principal bequeaths $1 million to her maid

There you go. A professional couple could easily accumulate $5m by their 40s or early 50s given today's salaries. And the principal was single.

Many younger couples are catching up fast too.

Originally Posted by Unregistered

A school principal can accumulate $3m. So what is $4m for a relatively high earner?

Former school principal bequeaths $1 million to her maid

Originally Posted by Unregistered

There you go. A professional couple could easily accumulate $5m by their 40s or early 50s given today's salaries. And the principal was single.

Many younger couples are catching up fast too.

We are in our late 40s but our net worth, including our condo, is only $2.6m. Looks like we are poor by comparison since many our age already has $10m net worth. How can we apply for financial assistance?

You are sick. I'm in my early fifties but our net worth is barely $1m. We just finished paying off our 5 room HDB mortgage. Now our flat is worth $600k, plus our savings and CPF, we only have $900k in total net worth. Both of us are graduates, mind you. Our earnings go into basic expenses such as food, utilities, paying the mortgage, paying the car loan of our 3 series, car maintenance, oil, road tax, holidays to Europe and US to reward our hard work, ballet and swimming classes for our kids, tuition, etc. how to save so much? You are in your dream world.

Originally Posted by Unregistered

There you go. A professional couple could easily accumulate $5m by their 40s or early 50s given today's salaries. And the principal was single.

Many younger couples are catching up fast too.

I suggest you cut down on your oil expenses. Wonder what you use the oil for. That would help you save a lot towards your first million by the time you reach 70.

Graduate Couples Should Have No Problem Saving $1Million | Salary.sg - Your Salary in Singapore

Originally Posted by Unregistered

You are sick. I'm in my early fifties but our net worth is barely $1m. We just finished paying off our 5 room HDB mortgage. Now our flat is worth $600k, plus our savings and CPF, we only have $900k in total net worth. Both of us are graduates, mind you. Our earnings go into basic expenses such as food, utilities, paying the mortgage, paying the car loan of our 3 series, car maintenance, oil, road tax, holidays to Europe and US to reward our hard work, ballet and swimming classes for our kids, tuition, etc. how to save so much? You are in your dream world.

You can improve your chances of financial aid if you stay in a 3 rm HDB flat. The gahmen will look bad giving financial assistance to condo owners, even a small shoe box one.

Originally Posted by Unregistered

We are in our late 40s but our net worth, including our condo, is only $2.6m. Looks like we are poor by comparison since many our age already has $10m net worth. How can we apply for financial assistance?

I am 58 years old, net worth $1.5m, including my HDB Exec flat.