Whats your net worth

Originally Posted by Unregistered

With over $4m net worth at the age of 41 and you are sighing? Get a perspective!!!!

With $4m, he can retire in Malaysia like a tycoon. $4m = RM10m.

Originally Posted by Unregistered

With $4m, he can retire in Malaysia like a tycoon. $4m = RM10m.

If I have 4m, I will go to bed every nite smiling to myself....

Yes and no. Once you reached it you will know what I mean.

Yes - if the money dropped from the sky (like striking TOTO) then yes, you will be smiling and feeling light headed, and generous. Yes, you will have this feeling with money coming your way that you dont have to work hard for.

No - if you worked hard (blood and sweat) for every cent, you will not be smiling. You will think to yourself, wah, this money I have, I nearly sold my soul, my health, my youth to get it. You will be very aware how hard it was to accumulate the wealth but how easy to lose it, and thus developed a little paranoia about losing it.

And if you built up this wealth throughout your life and now in your 50s, like myself, you will not feel rich because you dont always have the money in cash as they could be spread over the various commitments you made - your house, your car, your shares, your children's education fund etc.... Basically your lifestyle has been the same for many years, and you dont feel any different when your net worth grow to $4m or more.

For us, we will be thinking if we have $10m, we will go to bed smiling, but I think the $10m guy may not be smiling if he had built it up through his hard work.

Originally Posted by Unregistered

If I have 4m, I will go to bed every nite smiling to myself....

I'm 58 and I am perfectly happy since my net worth with my wife is now $2.6m. We are going to be multi millionaires soon when we retire in JB.

Originally Posted by Unregistered

A friend of mine got a windfall of $1.5m from enbloc at 45 yrs old, 10 yrs ago. He bought a HDB at $500k and invested the rest in shares for $50k - $60K pa dividends, and promptly retired. Initially the dividend was sufficient for his family expenses, but the family expenses increased year by year due to inflation.

He is now caught in a difficult situation where he had to sell down his shares to supplement his dividends. But as he sold down his shares, his dividends also dropped leading to a "death spiral". He started looking for work again at 55.

If he bought $1m of stocks in 2004, it would be worth $2m now. To save $1m over 10 years, you have to save $100K per year, which is not easy working. Dividends also rise with inflation. Congratulations to your friend.

50, net worth $1.7m.
Wife, 38, net worth $1m.
I hope to retire at 75.

I hope you enjoy your work. And don't forget to take time off once in a while to smell the roses. 25 more years of work is a long long time to go.

By the way what profession are you in now? Do you see yourself doing the same work as you get older?

Originally Posted by Unregistered

50, net worth $1.7m.
Wife, 38, net worth $1m.
I hope to retire at 75.

Originally Posted by Unregistered

50, net worth $1.7m.
Wife, 38, net worth $1m.
I hope to retire at 75.

you must be joking! retire at 75! you could be dead at that age!

you should retire early and enjoy life. dont need to leave behind so much wealth for your kids. let them work on their own to accumulate their own wealth.

you should retire at 60, the latest. i'm 48 and i'm already retired. i worked hard in my younger years and now i am a millionaire with passive income enough for my family.

I'm 35, male, no house, no car and thus no outstanding liabilities

Cash in bank: SGD1.18m
CPF-OA: SGD160k
CPF-SA: SGD63k

Annual salary: SGD150k

Living in 3 room HDB with mum... is this okay for my age?

Originally Posted by Unregistered

I'm 35, male, no house, no car and thus no outstanding liabilities

Cash in bank: SGD1.18m
CPF-OA: SGD160k
CPF-SA: SGD63k

Annual salary: SGD150k

Living in 3 room HDB with mum... is this okay for my age?

It's more than ok. How did you accumulate so much with a rather modest income?