Whats your net worth

Age: 29
Cash: 600k
Stocks: 1.7m (this year dropped by 400k)
Bonds (SSB): 100k (max mah)

Waiting to buy ppty this yr or next (most likely HDB).

Originally Posted by Unregistered

Age: 29
Cash: 600k
Stocks: 1.7m (this year dropped by 400k)
Bonds (SSB): 100k (max mah)

Waiting to buy ppty this yr or next (most likely HDB).

Given another chance to do it again, will you still invest in stocks?

Originally Posted by Unregistered

Age: 29
Cash: 600k
Stocks: 1.7m (this year dropped by 400k)
Bonds (SSB): 100k (max mah)

Waiting to buy ppty this yr or next (most likely HDB).

Hi friend, Can i ask how to save 600K in 5-6 years of working by age 29? I'm 26 and planing to do an MBA after 1 year to restart my career. Currently earning 5k per month. Hope to enter the banking industry after MBA as it seems to be the only place where fresh grads can score 100K p.a jobs.

Originally Posted by Unregistered

Hi friend, Can i ask how to save 600K in 5-6 years of working by age 29? I'm 26 and planing to do an MBA after 1 year to restart my career. Currently earning 5k per month. Hope to enter the banking industry after MBA as it seems to be the only place where fresh grads can score 100K p.a jobs.

Put 100K man city win premier league

As a couple, we worked hard. We are proud to be able to afford a condominium unit which we had paid for in full. We now earn $140k pa in total. We own a car, also paid up. In total our household net worth is $1.38m. We are a happy family as we managed to clear our debt and liabilities. We are in our late 40s.

Will spend another 15 years or so to save up for our retirement. Will ensure our CPF SA is maximised so that we can opt for the CPF Life ERS. That will be our main source of retirement income (maybe about $3,600 pm for a couple). The other source of retirement income will be from annuities which we will buy using our cash savings. We will retire in our condominium unit.

I think we are considered successful in our local context since we have achieved 5 Cs - condominium, car, cash, credit card and children. Children is the most precious as we cherish our kids a lot.

Originally Posted by Unregistered

As a couple, we worked hard. We are proud to be able to afford a condominium unit which we had paid for in full. We now earn $140k pa in total. We own a car, also paid up. In total our household net worth is $1.38m. We are a happy family as we managed to clear our debt and liabilities. We are in our late 40s.

Will spend another 15 years or so to save up for our retirement. Will ensure our CPF SA is maximised so that we can opt for the CPF Life ERS. That will be our main source of retirement income (maybe about $3,600 pm for a couple). The other source of retirement income will be from annuities which we will buy using our cash savings. We will retire in our condominium unit.

I think we are considered successful in our local context since we have achieved 5 Cs - condominium, car, cash, credit card and children. Children is the most precious as we cherish our kids a lot.

How old are your kids? Taken into consideration piano classes, ballet classes, private tuition fees?

You are right. 20% of our resident population lives in private housing (80% lives in public housing) and 45% of households owns a car. Which mean families living in private housing AND owning a car makes up the top 9% of the population (0.20x0.45 = 0.09 = 9%). So you're in the top 9% of our society. Well done! You're in the upper social status.

Originally Posted by Unregistered

As a couple, we worked hard. We are proud to be able to afford a condominium unit which we had paid for in full. We now earn $140k pa in total. We own a car, also paid up. In total our household net worth is $1.38m. We are a happy family as we managed to clear our debt and liabilities. We are in our late 40s.

Will spend another 15 years or so to save up for our retirement. Will ensure our CPF SA is maximised so that we can opt for the CPF Life ERS. That will be our main source of retirement income (maybe about $3,600 pm for a couple). The other source of retirement income will be from annuities which we will buy using our cash savings. We will retire in our condominium unit.

I think we are considered successful in our local context since we have achieved 5 Cs - condominium, car, cash, credit card and children. Children is the most precious as we cherish our kids a lot.

Why is your net worth so low? Does it include your house...if not then I think you are OK? What is your cash and cpf amount?

Originally Posted by Unregistered

You are right. 20% of our resident population lives in private housing (80% lives in public housing) and 45% of households owns a car. Which mean families living in private housing AND owning a car makes up the top 9% of the population (0.20x0.45 = 0.09 = 9%). So you're in the top 9% of our society. Well done! You're in the upper social status.

you are assuming that the 45% of households owning a car is evenly distributed across all income groups. i highly doubt that is the case, the more likely scenario being that this 45% distribution is heavily skewered toward the higher income group (i.e. the 20% living in private housing)

TLDR: Well done! You live in private housing which means you are probably within the top 20% of society

Congratulations on achieving the 5 Cs. All your hard work has paid off. Just don't forget to help the poor and needy. Volunteer your time at charities. Don't be snobbish.

Originally Posted by Unregistered

As a couple, we worked hard. We are proud to be able to afford a condominium unit which we had paid for in full. We now earn $140k pa in total. We own a car, also paid up. In total our household net worth is $1.38m. We are a happy family as we managed to clear our debt and liabilities. We are in our late 40s.

Will spend another 15 years or so to save up for our retirement. Will ensure our CPF SA is maximised so that we can opt for the CPF Life ERS. That will be our main source of retirement income (maybe about $3,600 pm for a couple). The other source of retirement income will be from annuities which we will buy using our cash savings. We will retire in our condominium unit.

I think we are considered successful in our local context since we have achieved 5 Cs - condominium, car, cash, credit card and children. Children is the most precious as we cherish our kids a lot.