Whats your net worth

Originally Posted by Unregistered

You are truly amazing.

With your income (already combined) of just $120k pa, you have achieved a net worth of $2.4m and more admirably, a passive income of $47k pa. Would you care to provide some clarity on the breakdown to your net worth?

a. Property - $862k
b. CPF -
c. Investment -
d. Cash -

Your achievement easily put many veterans here to shame.

How did u get such high passive income, unless u have lots of shares and an investment property? With a Very Average combined salary of 120K pa, how did u afford the (presumably) many shares and/or investment property.

Originally Posted by Unregistered

have been lurking in this forum for a while. just sharing about myself.

37 male. married with a 2 yr old son.
executive in a hospital (estate management),
external rmit degree (obtained in sg)
pay $4200 or $67200 pa.
4 rm hdb.
savings about $480k.

well, i managed to buy few lots of LVS shares when it was US$2 in year 2009, and sold it when it hit $70. count it as a good fortune for me. i also bought sembmarine and wilmar in 2009. but LVS has the most incredible gains.

i always asked around and from my own group of friends, it seems my circle of friends are having problems saving $10-20k per year.

even on my own, as a salaried guy, i couldn't save more than $500 per month.

how do some guys generate the wealth here? is it property?

I'm trying hard to multiply my money, but have lost money in side business, ventures, even shares recently, and decided to call it a stop before the savings run out. well, ... LVS wont go back to $2 again i suppose.

I am in my early thirties, earning 110K pa, can comfortably (did not really try) save 30K pa, despite a luxurious lifestyle of condo home, another investment property, eating out 2-3x a week in nice restaurants, grooming and massage every week, frivolous shopping at least 1K per month.... My spouse is earning 80K. Its a combination of med-to-high salary, no kids and no car. Its a lot easier to save when the salary is high. 8 years ago my salary was around 35K pa and this lifestyle and savings rate would have been impossible. I think the key is to increase massively your income, with that u can get a sizeable savings, plonk it down to an investment property, ensure its always rented out (else u lose money doubly fast). Then things will snowball from there. (income increase, can save more, can buy more shares and property, repeat, repeat, repeat)

29 going on 30

Annual Salary Package 105k

Current savings
SRS : 27k
Cash: 38k
OCBC Blue chip investment plan: 17k
Unit Trust: 115k
CPF OA: 48k
overseas retirement account(used to work overseas): 20k

Total Net worth: 264k

I save about 50-60% of my take home pay every month.

Currently my saving plan is 3.4k to OCBC BCIP every month and max out the 12.75k in SRS contributions a year. I used to invest in Unit Trust but have recently switched over to investing in ETFs.

I don't have to pay rent and my parents pay for my car so I am able to save a lot.

Don't have a steady gf but I go out with different girls 2-3 times a week. Go on vacations by myself about 4 times a year.

I keep track of every single expense I make using an iphone app.

I am trying to save as much as I can while I am young. I have seen senior managers in their 40s being cut at work even when the company is making record profits because they are too expensive(corporate america culture) so I am weary about overspending. I know that I might be like them in 10+ years.

Thoughts?

I grew our net worth through savings and investments. I took high but calculated risks and they paid off big time. I also have lots of guts. For instance, during the 2008 global crisis, while most people got very scared, I plunged into the markets big time. The rest was history.

Originally Posted by Unregistered

You are truly amazing.

With your income (already combined) of just $120k pa, you have achieved a net worth of $2.4m and more admirably, a passive income of $47k pa. Would you care to provide some clarity on the breakdown to your net worth?

a. Property - $862k
b. CPF -
c. Investment -
d. Cash -

Your achievement easily put many veterans here to shame.

Is it so difficult to provide the breakdown? And what stocks did you pick up that paid off big time? I presumed it was stocks and not property when you said "markets".

Originally Posted by Unregistered

I grew our net worth through savings and investments. I took high but calculated risks and they paid off big time. I also have lots of guts. For instance, during the 2008 global crisis, while most people got very scared, I plunged into the markets big time. The rest was history.

Originally Posted by Unregistered

Is it so difficult to provide the breakdown? And what stocks did you pick up that paid off big time? I presumed it was stocks and not property when you said "markets".

Condo home $862k
Stocks $500k
Equity in private business $500k
Balance is cash n CPF

There were many stocks in Spore and US market selling at a fraction of their price today. You can look at their historical charts. Too many to list here.

Originally Posted by Unregistered

29 going on 30

Annual Salary Package 105k

Current savings
SRS : 27k
Cash: 38k
OCBC Blue chip investment plan: 17k
Unit Trust: 115k
CPF OA: 48k
overseas retirement account(used to work overseas): 20k

Total Net worth: 264k

I save about 50-60% of my take home pay every month.

Currently my saving plan is 3.4k to OCBC BCIP every month and max out the 12.75k in SRS contributions a year. I used to invest in Unit Trust but have recently switched over to investing in ETFs.

I don't have to pay rent and my parents pay for my car so I am able to save a lot.

Don't have a steady gf but I go out with different girls 2-3 times a week. Go on vacations by myself about 4 times a year.

I keep track of every single expense I make using an iphone app.

I am trying to save as much as I can while I am young. I have seen senior managers in their 40s being cut at work even when the company is making record profits because they are too expensive(corporate america culture) so I am weary about overspending. I know that I might be like them in 10+ years.

Thoughts?

Salary is high for your age. Savings are not bad. This is your effort.
Your parents must be rich, to buy a car for you and let u stay rent free. This is your good luck.
Lifestyle is unconventional. The impression is that of a smart, and privileged young man who wants to have fun with no obligations, live life the way he wants.

Originally Posted by Unregistered

29 going on 30

Annual Salary Package 105k

Current savings
SRS : 27k
Cash: 38k
OCBC Blue chip investment plan: 17k
Unit Trust: 115k
CPF OA: 48k
overseas retirement account(used to work overseas): 20k

Total Net worth: 264k

I save about 50-60% of my take home pay every month.

Currently my saving plan is 3.4k to OCBC BCIP every month and max out the 12.75k in SRS contributions a year. I used to invest in Unit Trust but have recently switched over to investing in ETFs.

I don't have to pay rent and my parents pay for my car so I am able to save a lot.

Don't have a steady gf but I go out with different girls 2-3 times a week. Go on vacations by myself about 4 times a year.

I keep track of every single expense I make using an iphone app.

I am trying to save as much as I can while I am young. I have seen senior managers in their 40s being cut at work even when the company is making record profits because they are too expensive(corporate america culture) so I am weary about overspending. I know that I might be like them in 10+ years.

Thoughts?

Bro, can share what BCIP you investing in? How often do u get dividends?

[lazyplane]

Any reason why u r plonking down on srs at such a young age ?

SRS is a deferred tax tool.
If you are like any of the posters here , you r looking to invest your srs n grow it. Early termination of srs gets penalty and since you have 30+ yrs to go, the savings/investment now will like grow beyond the 50% tax deduction benefit n if u r making really good returns on your srs, likely to get you even more tax charges then your tax savings.

I will consider stopping investing in srs til u r in the late thirties or if you salary increases to a level that this is really disposable cash .

My 2 cents suggestion

Originally Posted by Unregistered

29 going on 30

Annual Salary Package 105k

Current savings
SRS : 27k
Cash: 38k
OCBC Blue chip investment plan: 17k
Unit Trust: 115k
CPF OA: 48k
overseas retirement account(used to work overseas): 20k

Total Net worth: 264k

I save about 50-60% of my take home pay every month.

Currently my saving plan is 3.4k to OCBC BCIP every month and max out the 12.75k in SRS contributions a year. I used to invest in Unit Trust but have recently switched over to investing in ETFs.

I don't have to pay rent and my parents pay for my car so I am able to save a lot.

Don't have a steady gf but I go out with different girls 2-3 times a week. Go on vacations by myself about 4 times a year.

I keep track of every single expense I make using an iphone app.

I am trying to save as much as I can while I am young. I have seen senior managers in their 40s being cut at work even when the company is making record profits because they are too expensive(corporate america culture) so I am weary about overspending. I know that I might be like them in 10+ years.

Thoughts?

Originally Posted by lazyplane

Any reason why u r plonking down on srs at such a young age ?

SRS is a deferred tax tool.
If you are like any of the posters here , you r looking to invest your srs n grow it. Early termination of srs gets penalty and since you have 30+ yrs to go, the savings/investment now will like grow beyond the 50% tax deduction benefit n if u r making really good returns on your srs, likely to get you even more tax charges then your tax savings.

I will consider stopping investing in srs til u r in the late thirties or if you salary increases to a level that this is really disposable cash .

My 2 cents suggestion

Contributing 12.75k to SRS saves me about ~$900 in taxes yearly. That's why I am doing it.

Without SRS: $3407
With 12.75k SRS contribution: $2492

I intend to keep the money there till I am 62 then withdraw them over 10 years. SRS+CPF will be my retirement fund.

The 3.4k I save monthly will be eventually used for investments/buying house.

Right now I am ploughing 100% into nikko am sti etf via OCBC BCIP.

I previously tried to do my own stock picking but I found it too time consuming and too high-risk. I was making money on some bets and losing money on others.

After doing reading, I have come to the conclusion that index funds are the best way to go.

I have not liquidated my unit trust because they are giving me good monthly dividends.

In 2015, I will probably shift my monthly savings plan to:
50% nikko AM STI ETF
50% SPDR S&P 500 ETF (non-BCIP)