Whats your net worth

Lower income couple in our 50s. Combined income only $103,000 per year. Live in an old condo, luckily we paid off the mortgage as we bought it only for $520,000 many, many years ago. We have $700,000 cash in the bank. Did not invest in anything as we are scared of losing our hard earned money. Luckily we did not invest, if we did, we could lose a lot of money during the 1998 and 2008 global crisis. When we reach 62, we will retire somewhere cheap in Asia. Could be JB, Penang, Malacca, KL, Bangkok, Chiang Mai or Phuket.

For me

age 34 in 2014

Myself and wife:
Combined savings of 500k in cash

Myself:
SRS = 80k in stocks
CPF OA = 34k
SA = 55k
Value of Insurance life policies maturiing in 20yrs thereabt = 200k
Stock options = 30k

Wife :
CPF OA = 38k
SA = 40k
Value of insurance life policy maturing in 20yrs thereabt = 150k


Liabilities :
HDB flat = 5brm, outstanding 97k which can clear in 4yrs
Car : Conti car with 4yrs left, can get ard 30k on scrap


one kid 4yrs old

Hoping to get to a mio in cash by 36. Current income ard 350k pa for myself. wife ard 90k pa

with your income, you should upgrade to a $5m bungalow. go for it.

Originally Posted by Unregistered

For me

age 34 in 2014

Myself and wife:
Combined savings of 500k in cash

Myself:
SRS = 80k in stocks
CPF OA = 34k
SA = 55k
Value of Insurance life policies maturiing in 20yrs thereabt = 200k
Stock options = 30k

Wife :
CPF OA = 38k
SA = 40k
Value of insurance life policy maturing in 20yrs thereabt = 150k


Liabilities :
HDB flat = 5brm, outstanding 97k which can clear in 4yrs
Car : Conti car with 4yrs left, can get ard 30k on scrap


one kid 4yrs old

Hoping to get to a mio in cash by 36. Current income ard 350k pa for myself. wife ard 90k pa

Good income, saving, investment and HDB.

Contiune work hard and wait for the opportunity to buy property when cooling measure reduce and price going down.

No worry about retirement and get set for another child .

Originally Posted by Unregistered

For me

age 34 in 2014

Myself and wife:
Combined savings of 500k in cash

Myself:
SRS = 80k in stocks
CPF OA = 34k
SA = 55k
Value of Insurance life policies maturiing in 20yrs thereabt = 200k
Stock options = 30k

Wife :
CPF OA = 38k
SA = 40k
Value of insurance life policy maturing in 20yrs thereabt = 150k


Liabilities :
HDB flat = 5brm, outstanding 97k which can clear in 4yrs
Car : Conti car with 4yrs left, can get ard 30k on scrap


one kid 4yrs old

Hoping to get to a mio in cash by 36. Current income ard 350k pa for myself. wife ard 90k pa

Guess i can only say the income is good when it lasts.. my job has not my longevity so am trying to be very prudent going forward.

wasnt too much of a saver in the earlier days and of course been spending rather extravagantly.

Originally Posted by Unregistered

Guess i can only say the income is good when it lasts.. my job has not my longevity so am trying to be very prudent going forward.

wasnt too much of a saver in the earlier days and of course been spending rather extravagantly.

Likewise for me, I amin my 40s. Annual pay is around 250k. I keep my expenses low because there are so much uncertainty about my job.

Looking for a second stream of income.

So far, I have 600 k in stocks, giving me 24 k dividend a year
Cash 150 k, CPF - OA 265 k, SA 105 k

Any advice?

While there is a benchmarking tool for salary, it seems there is no benchmaking tool for family net worth.

My wife and I are in our late 40s. Our home, a condo, is worth $1.2m and fully paid up. Our stocks are worth $800k. Our other assets (cash, CPF) are worth $500k. So our combined total family net worth is $2.5m. We are millionaire couples.

We are just wondering where we stand in Singapore society, in terms of family net worth. Are we in the top 10%?

Does anyone know?

This will give a rough feel of where you stand among fellow workers in S'pore. Assuming we have 3 million workers here, and according to this report: 174 000 millionaires in Singapore, set to increase to 235 000 by 2018 | The Real Singapore, there are 174,000 millionaires here. That is 5.8% of the number of workers.

So you and your wife, each with $1.25m will put you among the top 6% of S'pore workers in terms of wealth.

However, $1m today is not what it used to be before. I recalled when we graduated in 1980, we challenged each other to be the first to earn $1m by 35. Some even swore that if they can accumulate $1m, they would retire immediately.

The $1m in 1980 is eroded by inflation, and it's value over the years is as follows (assuming inflation rate of 2.5%)
1980 - $1m
1990 - $776k
2000 - $602k
2010 - $468k
2014 - $423k

Conversely, if you want to have the same $1m value of 1980, you will need $2.83m today.

Nowadays, I don't hear of people saying they will retire if they have a million. It's just not enough.

I think to be really rich, you will need to have $5m.

Originally Posted by Unregistered

While there is a benchmarking tool for salary, it seems there is no benchmaking tool for family net worth.

My wife and I are in our late 40s. Our home, a condo, is worth $1.2m and fully paid up. Our stocks are worth $800k. Our other assets (cash, CPF) are worth $500k. So our combined total family net worth is $2.5m. We are millionaire couples.

We are just wondering where we stand in Singapore society, in terms of family net worth. Are we in the top 10%?

Does anyone know?

Thanks for sharing this info. I'm glad we are now in the top 6%. This is a big achievement for us since we were both from poor families. We used to stay in 2 room HDB flats with many people in them. We were in the bottom 20%. We feel lucky to be born in Singapore. Our fate would not be the same if we were born in other countries.

Originally Posted by Unregistered

This will give a rough feel of where you stand among fellow workers in S'pore. Assuming we have 3 million workers here, and according to this report: 174 000 millionaires in Singapore, set to increase to 235 000 by 2018 | The Real Singapore, there are 174,000 millionaires here. That is 5.8% of the number of workers.

So you and your wife, each with $1.25m will put you among the top 6% of S'pore workers in terms of wealth.

However, $1m today is not what it used to be before. I recalled when we graduated in 1980, we challenged each other to be the first to earn $1m by 35. Some even swore that if they can accumulate $1m, they would retire immediately.

The $1m in 1980 is eroded by inflation, and it's value over the years is as follows (assuming inflation rate of 2.5%)
1980 - $1m
1990 - $776k
2000 - $602k
2010 - $468k
2014 - $423k

Conversely, if you want to have the same $1m value of 1980, you will need $2.83m today.

Nowadays, I don't hear of people saying they will retire if they have a million. It's just not enough.

I think to be really rich, you will need to have $5m.

Originally Posted by Unregistered

Thanks for sharing this info. I'm glad we are now in the top 6%. This is a big achievement for us since we were both from poor families. We used to stay in 2 room HDB flats with many people in them. We were in the bottom 20%. We feel lucky to be born in Singapore. Our fate would not be the same if we were born in other countries.

I agree with you. I grew up in a 2 room HDB flat with 7 of us squeezed in it. Today, all my siblings and their spouses are graduates, making decent living.

We are definitely lucky to be in Singapore.