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16-03-2016, 07:58 AM
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At 42, we had almost zero $ in our CPF OA. Whatever $ we have were in our MA and SA. Cash wise we had about $15k.
Not only that, we were also $400k+ in debt because we were holding onto 2 condos at that time. Our mortgage payment was $60k a year of which $20k+ was due to interest payment.
After one of the condos went enbloc, our finances improved dramatically.
Now, in our 50s, we again have 2 condos, almost $2m in our CPF (combined total of OA, SA, MA and RA), $1m in stocks and $500k in FDs and bonds and $50k cash.
To reward ourselves we have a car each.
Quote:
Originally Posted by Unregistered
me 42 yo this year and and my net worth is now $787k ( CPF, Cash, investments).
and 1 rolex watch worth about 5K
no car, no house, no women
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17-03-2016, 04:52 PM
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You are amomg the lucky few who benefited from the enbloc frenzy. You must be grateful and donate your gains to the poor and needy. Don't waste your wealth on wasteful things.
Had you not got the enbloc, you will just be ordinary.
Quote:
Originally Posted by Unregistered
At 42, we had almost zero $ in our CPF OA. Whatever $ we have were in our MA and SA. Cash wise we had about $15k.
Not only that, we were also $400k+ in debt because we were holding onto 2 condos at that time. Our mortgage payment was $60k a year of which $20k+ was due to interest payment.
After one of the condos went enbloc, our finances improved dramatically.
Now, in our 50s, we again have 2 condos, almost $2m in our CPF (combined total of OA, SA, MA and RA), $1m in stocks and $500k in FDs and bonds and $50k cash.
To reward ourselves we have a car each.
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18-03-2016, 10:14 PM
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my net worth:
cash 5,000+++
1 burberry sport watch 1,240
1 burberry steel watch 770
1 burberry travel watch 3740
1 prada small purse 400
1 LV coin purse 550
1 Bottega purse 530
1 macbook pro 1500
1 iPhone 5s 800
1 toshiba HDD 100
1 New balance trainer 150
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19-03-2016, 11:42 AM
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Quote:
Originally Posted by Unregistered
my net worth:
cash 5,000+++
1 burberry sport watch 1,240
1 burberry steel watch 770
1 burberry travel watch 3740
1 prada small purse 400
1 LV coin purse 550
1 Bottega purse 530
1 macbook pro 1500
1 iPhone 5s 800
1 toshiba HDD 100
1 New balance trainer 150
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Your 5K jsm
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04-04-2016, 03:55 PM
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Congratulations on reading your life story.
I am in a similar position as yours. Coming from a poor background makes me understand the need to save for a rainy day. I used to watch my parents struggling with unpaid bills with pink notices, quarrels over insufficient household income and yet squander money away in gambling. The desire never to be end up in such situation drives me to study and work hard and saves money to maintain a lifestyle that is comfortable for my family yet sufficient to provide for unplanned event. With a single income of 200 plus k in secured job, money aside, I think what is important is to live life meaningful and spend quality time with one's family. We all need to balance family and work life and yet can contribute to meaningful course.
There are many families out there that are struggling du to poor financial planning and catching up with increasing cost of living. We need to teach our children personal finance - a critical life skill which the school is not paying sufficient attention.
Quote:
Originally Posted by Unregistered
Growing up for us was not so easy as we were from low income families living in small flats. However, with sheer determination we managed to do well in school. Fast forward, we are now both 50 and count ourselves as successful based on where we came from. It feels like going from Third World to First World. We have good jobs with a current household income of $150k per year.
We upgraded from our flat to a condominium unit a few years ago. We sold our flat and bought the condo. We have since paid off the mortgage. For our family's comfort and convenience, we own a car. Sometimes we bought new while sometimes we bought used ones. As long as it can bring us from one place to another, we are happy.
In terms of combined net worth, it is about $1.6m, not a very high amount but certainly above average. We count ourselves lucky as we get to live in a nice condominium project as well as owning a car. These are assets which are considered highly here. We have achieved what we never thought was possible.
As for retirement at age 65, we will retire in our condo where we have many friends. Our neighbours are our good friends. Our retirement income will be from cpf life and annuities.
If you are in your 50s, what's your journey like?
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04-04-2016, 04:30 PM
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Married couple 50/48 with 2 kids at lower primary level.
Cash 355k
Combined CPF 567k
Stocks 300k
Insurance value 119k
Condo 820k (fully paid)
1 Car Loan 55k
Wife not working. Annual package 210k.
Annual savings excluding CPF contribution about 90k
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10-04-2016, 10:33 PM
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Quote:
Originally Posted by Unregistered
Don't keep so much cash at hand. Value eroding day by day. Put in BOC 1.9% one year FD better.
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Even better to put into private equity. Get 12 percent per annum. Only drawback is illiquidity for 6-8 years. But if you have no commitments, why not? Any top tier private bank can help u
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12-04-2016, 10:03 AM
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As below:
Married with 2 kids (7 and 2yrs old)
Asset
HDB flat 5bdrm Fully paid for valued at 450k
Cash in Fixed Deposit - $1mio
Stocks - $75k
Insurance - $100k (endowment))
CPF combined OA btw myself and wife = $70k
CPF SA combined = $150k
Liabilities
Car Loan $90k
Looking to buy another propoerty but the second ABSD is a pain. Rental market being soft not helping too and donno where to buy.
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