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19-12-2014, 04:34 PM
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adviseandadvices.blogspot.sg
Quote:
Originally Posted by lazyplane
wow. u got married /had kids rather early. not the norm for grad couple
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Sounds ok.
Maybe the kids are 13/14?
Husband was 29 and wife was 25 when they got married and had their first child.
Husband would have graduated for 4/5 years at 24/25 and wife would have graduated for 2/3 years at 22/23.
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20-12-2014, 09:51 AM
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Millionaire couple, 37/38, with combined net worth of $1m.
5 room HDB flat, $600k, cleared our mortgage.
CPF savings and cash, $400k in total.
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20-12-2014, 05:40 PM
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Middle class couple, 43/47.
Total income, both husband and wife together, S$145k pa.
Lives in a 3 BR condo worth $1.2m, mortgage S$600k.
Cash, stocks and cpf S$800k in total.
Combined net worth S$1.4m.
Are we doing ok? Appreciate comments.
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20-12-2014, 08:51 PM
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38/36 yo couple
Home value net of loan: $1.8M
Cash: $500K
Stocks: $300K
Others (unit trust, savings plans, cpf, car): $400K
Total $3M
Started with zero 15 years ago
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21-12-2014, 12:09 AM
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Quote:
Originally Posted by Unregistered
Millionaire couple, 37/38, with combined net worth of $1m.
5 room HDB flat, $600k, cleared our mortgage.
CPF savings and cash, $400k in total.
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Excellent , though you are probably underleveraged for your age and net worth.
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21-12-2014, 01:52 PM
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Owns and lives in a 5 room HDB flat located near the city centre, now worth $800k, fully paid up 20 years ago. Bought very cheap. Retired two years ago at age 57, earning passive income from stocks dividends, $60k pa. No car and no maid. Children living in their own BTO flats. Expenses for both my wife, 59, and I are $36k pa in total. We are happy and spend time together at home reading books and watching TV.
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21-12-2014, 04:06 PM
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Quote:
Originally Posted by Unregistered
Owns and lives in a 5 room HDB flat located near the city centre, now worth $800k, fully paid up 20 years ago. Bought very cheap. Retired two years ago at age 57, earning passive income from stocks dividends, $60k pa. No car and no maid. Children living in their own BTO flats. Expenses for both my wife, 59, and I are $36k pa in total. We are happy and spend time together at home reading books and watching TV.
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Well done sir. You are my idol. I have the same plan as you. I will first focus on paying off my BTO flat mortgage and fulfill my CPF min sum. After that I will grow my stocks portfolio so that by the time reach 55, I can have enough dividends to finance my retirement.
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22-12-2014, 07:16 PM
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Married couple 48/38 with 2 kids at lower primary level.
Cash 340k
Combined CPF 511k
Stocks 220k
Insurance value 124k
Condo 860k (fully paid)
Car fully paid
Wife not working. Annual package 200k.
Annual savings excluding CPF contribution about 90- 100k
How do we fare?
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22-12-2014, 07:25 PM
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Quote:
Originally Posted by Unregistered
A good plan is one where you start with achievable small steps. You will build up your confidence when you achieved the small targets. Also assess whether you really need that much money. Setting an unrealistic target will only mean disappointment for yourself and prevent you from enjoying the little gains you made in the process.
Thus, instead of setting a target of $20m, aim to save $100k each year. If already achieved, then raise the bar to $200k and so on.
For our case, early in our career, we were thrilled when we were able to meet our savings target of $50k pa. We then upped the target by another $50k for the next year. To cut the long story short, we are now achieving $350k savings each year. Thanks also to a healthy passive income stream.
I can imagine that we will be miserable if we stupidly set $20m as our target from the start knowing that it will be almost impossible to meet. As it is, with our small targets each year, we will always celebrate whenever we achieved one.
Try it and you will not feel so miserable and bitter.
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It is true, I start with 650k networth and has been tracking since then. In 8 years, my networth is now 2.1m. Not great, but take one step at a time and be patient.
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22-12-2014, 08:14 PM
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You are doing very well. You are now a millionaire. Are you planning to upgrade to a better condo?
Quote:
Originally Posted by Unregistered
Married couple 48/38 with 2 kids at lower primary level.
Cash 340k
Combined CPF 511k
Stocks 220k
Insurance value 124k
Condo 860k (fully paid)
Car fully paid
Wife not working. Annual package 200k.
Annual savings excluding CPF contribution about 90- 100k
How do we fare?
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