Whats your net worth - Page 231 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Investments and Net Worth

Investments and Net Worth Talk all about money making exploits, shares, property and building net worth




Whats your net worth

Reply
 
Thread Tools
  #2301 (permalink)  
Old 20-04-2015, 10:21 AM
Unregistered
Guest
 
Posts: n/a
Default Sahm

Quote:
Originally Posted by Unregistered View Post
Well done. It is good to be free of debt on your home. You can sleep in peace.

May I know whether you are both grads and what work do you both do?



I think living in a debt free home and being pleased about it depends on your age.
If you are in your 20-30s and living in a set free hdb home doesn't quite cut it.

If you have a $2m house with a $1m debt, and the house value will probably increase to $2.5m or $3m in twenty years when you retire or during the boom of the property market
(Which may come sooner than in 20 years), then you will be able to sell your house at a tidy profit, be loan free and still be able to afford a hdb flat with no mortgage or even better, a condo with no mortgage, when you retire.

The appreciation of property, is something that you failed to account for.

Reply With Quote
  #2302 (permalink)  
Old 20-04-2015, 10:24 AM
Unregistered
Guest
 
Posts: n/a
Default Sahm

Quote:
Originally Posted by Unregistered View Post
This is the right attitude to have in life. Be contented with what you have. Be happy. Happiness is not about material wealth nor status. It is about being good to others, having meaningful relationships with your family members and being a responsible son, father and husband. If you are rich but abandon your old parents, you are a lousy son. If you earn lots of money but have no time for you children to nurture them with high moral values, you are a failure as a father. Money and status are meaningless if you have not been a responsible son, father and husband.


I didn't realize it but money does help you to help other people.

Because we are high income earners and have amassed a bit during the last property boom (by leveraging, no less), we are able to do the following,

1) bought a house for my parents in law overseas (price of a three room flat here) - paid in full
2) paid for my parents hdb renovations here ($20k)
3) donated $10k usd to charity

And still enjoy my Birkin bags!

Reply With Quote
  #2303 (permalink)  
Old 20-04-2015, 10:29 AM
Sahm
Guest
 
Posts: n/a
Default Sahm

Quote:
Originally Posted by Unregistered View Post
I didn't realize it but money does help you to help other people.

Because we are high income earners and have amassed a bit during the last property boom (by leveraging, no less), we are able to do the following,

1) bought a house for my parents in law overseas (price of a three room flat here) - paid in full
2) paid for my parents hdb renovations here ($20k)
3) donated $10k usd to charity

And still enjoy my Birkin bags!
And I forgot to mention that we did all these but still have a big loan on our big house.
We sleep very well at night because we really don't mind downgrading to a small condo and not have to climb up and down the stairs in our big house, should we ever have to default on our big loan and have the bank take away our big house.

More importantly, we know how to use the right loans (housing loans only), mind you we have no other loans, to fund our purchases and help the people we love and then more.

We don't believe in buying the house that we can afford to pay in full or the loan off very quickly and not be able to do these things for our loved ones and for charity.

I think we live life to the fullest rather worry worry worry all day about not paying off our housing loan.

It's the rich dad , poor dad mindset.

Reply With Quote
  #2304 (permalink)  
Old 20-04-2015, 12:52 PM
Unregistered
Guest
 
Posts: n/a
Default

Sahm,

Since you are not working and your hubby is the sole breadwinner, I suggest you don't overleverage. What if he lost his job? It is better for you to buy a property whether a hdb flat or an OCR condo, paid in full. Better be safe than sorry. Just because you have profited from property in the past does not mean property will do the same in the future. Nothing is guaranteed.


Quote:
Originally Posted by Unregistered View Post
I think living in a debt free home and being pleased about it depends on your age.
If you are in your 20-30s and living in a set free hdb home doesn't quite cut it.

If you have a $2m house with a $1m debt, and the house value will probably increase to $2.5m or $3m in twenty years when you retire or during the boom of the property market
(Which may come sooner than in 20 years), then you will be able to sell your house at a tidy profit, be loan free and still be able to afford a hdb flat with no mortgage or even better, a condo with no mortgage, when you retire.

The appreciation of property, is something that you failed to account for.
Reply With Quote
  #2305 (permalink)  
Old 02-05-2015, 12:43 AM
Unregistered
Guest
 
Posts: n/a
Default

Couple 45,46. Both SAHM/D. 3 kids - 1 in JC, 2 in Sec. Net worth $8m. Of which, prop $4.0m, cash $2.5m, equities $3m. Mortgage o/s $1.5m.

Thinking if I should pay off the mortgage or hold cash since we are both unemployed.
Reply With Quote
  #2306 (permalink)  
Old 05-05-2015, 09:49 AM
Unregistered
Guest
 
Posts: n/a
Default

Couple 40/41 , Both Working. 2 kids below 10
Combine Salary 600 K per annual
Total Debt : 2.15M
Cash : 1.5M
Equity : 100K
CPF : 550 K ( 350 K lock in SA and MA)
Property : 5M (landed)

One of the job is not secured, if that is gone , salary will be half.
Intend to keep propery for long tern investment before considering to cash out in 10 to 15 years time and downgrade if necessary.

Should I explore more equity investment or reduce total debt?


Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


Bursa Stocks Android App - check share prices
Bursa Stocks [Android] App - check latest share prices on the go


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote

  #2307 (permalink)  
Old 05-05-2015, 10:24 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Couple 45,46. Both SAHM/D. 3 kids - 1 in JC, 2 in Sec. Net worth $8m. Of which, prop $4.0m, cash $2.5m, equities $3m. Mortgage o/s $1.5m.

Thinking if I should pay off the mortgage or hold cash since we are both unemployed.

Reduce Mortage by 1 M , don't need to pay off.
cash 1.5M invest fix income yield 4%.
Interest should be more than sufficient to cover the loan payment and some.
Reply With Quote
  #2308 (permalink)  
Old 05-05-2015, 11:23 AM
Unregistered
Guest
 
Posts: n/a
Default

42,40
Annual:140k, 80k
Passive p.a:85k

Property Debt: $1.15mil (vs equity of maybe $2.1 mil, conservatively)
No car loans at the mo.

Cash + stocks+ OA CPF: around 400k

Realised in my 30s that counting just on employment income is a big risk. Started to work on getting a passive income stream. Involves making some decisions to delay gratification.
Reply With Quote
  #2309 (permalink)  
Old 05-05-2015, 12:06 PM
Unregistered
Guest
 
Posts: n/a
Default

What's your combined net worth with your wife?


Quote:
Originally Posted by Unregistered View Post
42,40
Annual:140k, 80k
Passive p.a:85k

Property Debt: $1.15mil (vs equity of maybe $2.1 mil, conservatively)
No car loans at the mo.

Cash + stocks+ OA CPF: around 400k

Realised in my 30s that counting just on employment income is a big risk. Started to work on getting a passive income stream. Involves making some decisions to delay gratification.
Reply With Quote
  #2310 (permalink)  
Old 04-07-2015, 11:18 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Well done. It is good to be free of debt on your home. You can sleep in peace.

May I know whether you are both grads and what work do you both do?
I'm impressed. managed to accumulate $600k at a relatively young age and on $130k/pa income
Reply With Quote
Reply

Bookmarks

Tags
net wealth, net worth, networth

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Calculate Net Worth and Benchmark It Salary.sg Investments and Net Worth 16 23-09-2023 10:41 PM
legal profession not worth it? alarme Income and Jobs 3 05-04-2010 03:35 PM

» 30 Recent Threads
Career as Teacher ( 1 2 3... Last Page)
10,851 Replies, 6,670,821 Views
Why Is Having a Google Virtual...
1 Replies, 6,764 Views
How is life as a doctor in... ( 1 2 3... Last Page)
7,240 Replies, 3,399,773 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,805 Replies, 1,045,389 Views
JP Morgan ( 1 2 3... Last Page)
199 Replies, 173,413 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,319 Replies, 4,984,846 Views
GovTech ( 1 2 3... Last Page)
5,163 Replies, 2,164,770 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,050 Replies, 440,778 Views
Mining Industry ( 1 2 3... Last Page)
80 Replies, 74,514 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,340 Replies, 4,772,541 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
171 Replies, 309,560 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
680 Replies, 388,769 Views
Compare civil service salary ( 1 2 3... Last Page)
16,343 Replies, 12,458,031 Views
Lawyer Salary ( 1 2 3... Last Page)
21,015 Replies, 10,331,194 Views
ST Electronics ( 1 2 3... Last Page)
3,768 Replies, 1,545,289 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,457 Replies, 784,776 Views
Is getting a PMP worth it ?
4 Replies, 7,171 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
207 Replies, 134,722 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,922 Replies, 2,903,563 Views
Nparks ( 1 2 3... Last Page)
39 Replies, 34,435 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,828 Replies, 4,657,490 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
309 Replies, 369,376 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 814,027 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,828 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,385 Replies, 2,324,966 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 358,782 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,375,751 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 613,893 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,739,058 Views
MX12 reappointed at MX11
8 Replies, 851 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 03:42 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2