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Whats your net worth

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  #1751 (permalink)  
Old 12-11-2013, 02:42 PM
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I am 58 years old, net worth $1.5m, including my HDB Exec flat.

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  #1752 (permalink)  
Old 13-11-2013, 06:49 AM
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$1.5m for a single person means you can live very comfortably at $5k pm or $60k pa. Your money will run out in about 25 yrs at age 73. If still alive then, no home no money.

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


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  #1753 (permalink)  
Old 13-11-2013, 07:55 AM
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$1.5m for a single person means you can live very comfortably at $5k pm or $60k pa. Your money will run out in about 25 yrs at age 73. If still alive then, no home no money.
I plan to sell my Exec flat and buy a studio flat for the elderly at S$100k. I will then invest the balance S$1.4m to give me dividends of 5% pa or S$70k pa, which is more than enough as I only spend S$24k pa. This will continue and my annual dividends and portfolio value will grow. By the time I die, maybe at 104 years old, my net worth will be worth at least S$3m and I will donate all my wealth to an old folks home.

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  #1754 (permalink)  
Old 18-11-2013, 04:11 PM
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Total income per annum - $210k. Me and wife in our late 40s. Condo worth $2m. Total net worth $2.5m. Drives a European car. Holidays twice a year to Europe, ANZ, Americas. We are just your average Singaporean couple, unlike many in this forum who have net worth of at least $5m.
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  #1755 (permalink)  
Old 19-11-2013, 12:57 PM
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Total income per annum - $210k. Me and wife in our late 40s. Condo worth $2m. Total net worth $2.5m. Drives a European car. Holidays twice a year to Europe, ANZ, Americas. We are just your average Singaporean couple, unlike many in this forum who have net worth of at least $5m.
is the average household net worth $5m in this forum?
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  #1756 (permalink)  
Old 19-11-2013, 02:41 PM
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is the average household net worth $5m in this forum?
Should be about $8m average. One guy even mortgage his landed and punt in stocks. Scary. Overconfident. If market crash, this guy will be begging on the streets. When market crash his stocks will crash by 90% and his house will crash by 60%. he cannot repay the bank cos his stocks will be of no value by then.
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  #1757 (permalink)  
Old 22-11-2013, 05:53 PM
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Default Still feel poor

45, married, cash:50million, stocks:50million, mostly thru inheritance. Around me, I know many frens and relatives more wealthy than me. Even my wife is wealthier, so the article on "Sg has most number of millionaires" is true, bcos I seen with my own eyes.
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  #1758 (permalink)  
Old 22-11-2013, 06:22 PM
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I fell poor. 44 jobless. Luckily got passive income from stocks $70k pa. Also luckily wife still have a job $90k pa, and I paid off my condo's mortgage. Nowadays lead a simple life, family spending $110k pa. Last time spend a lot on clubbing, high class restaurants, dining, wining, cigars, gambling, etc. Now, very low profile, no money to do all these. So difficult to get a new job, I think I too old. Should I drive taxi or become security guard?
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  #1759 (permalink)  
Old 22-11-2013, 11:13 PM
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I would suggest do both taxi driving and security guard. The 2 jobs complement each other. Also the combined income can bring it closer to fresh grad starting salary, so can hold your head high among them.

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I fell poor. 44 jobless. Luckily got passive income from stocks $70k pa. Also luckily wife still have a job $90k pa, and I paid off my condo's mortgage. Nowadays lead a simple life, family spending $110k pa. Last time spend a lot on clubbing, high class restaurants, dining, wining, cigars, gambling, etc. Now, very low profile, no money to do all these. So difficult to get a new job, I think I too old. Should I drive taxi or become security guard?
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  #1760 (permalink)  
Old 23-11-2013, 07:18 AM
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I fell poor. 44 jobless. Luckily got passive income from stocks $70k pa. Also luckily wife still have a job $90k pa, and I paid off my condo's mortgage. Nowadays lead a simple life, family spending $110k pa. Last time spend a lot on clubbing, high class restaurants, dining, wining, cigars, gambling, etc. Now, very low profile, no money to do all these. So difficult to get a new job, I think I too old. Should I drive taxi or become security guard?
Why do you need to get a job? Your family is already saving $50k pa. Just treat your situation as early retirement. Be happy that you don't have to struggle to work every morning and go back late at night. Tell your friends that you are now a successful person who is retired.

But I think your expenses is high for a person who has paid off mortgage. Here are ways to reduce your expenses further.

1. Sell your car and take public transport. You can save $2k per month ($24k pa).
2. Stop the maid. You can save $1k per month ($12k pa).
3. Stop going for expensive holidays. You can save $10k pa.

Here is what your expenses can be:

1. Food and utilities - $2,000 pm
2. Parents allowances - $1,000 pm
3. Kids expenses - $500 pm
4. Public transport - $200 pm
5. Insurance - $500 pm
6. Miscellaneous - $800 pm

Total - $5,000 pm or $60k pa

So, with your total income of $160k pa and spending of $60k pa, you can save $100k pa.
Over 20 years, you can save $2m.
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