Whats your net worth

Originally Posted by Originally Posted by Unregistered

Me + wife + 2 kids, mid 30s
Combined net worth ~ 1M
I thought we were doing well but looks like there's lots of highly successful people here

Originally Posted by Unregistered

does your combined net worth include your property that you are staying in?

Yes, includes value of property minus loan remaining for it.

Originally Posted by Unregistered

Yes, includes value of property minus loan remaining for it.

What's your net worth if you exclude stay-in property and CPF?

I am living with my parents right now and retired from the corporate rat race! Age 31. Thinking of doing my own business, but have yet to find something interesting enough. I trade stocks in the night and here is what I have:

1. Condo in CBD worth 1.28M (my cash invested is around 200k SGD and about 1M loan). You can count this as my property, since I live with parents.
2. Cash in the bank of around 700k SGD.
3. Online trading balance of around 200kSGD.
4. Cash in RMB account of around 100k SGD.
5. Cash invested in RMB fund of around 20K SGD.

If I don't count in my property in the CBD, then I have about 1.02M SGD in cash and marketable securities.

Why do I leave the 700k in cash? That's because I would like to buy a bigger property when the market softens and I am too chicken to put that in stocks. Currently all 200k SGD is invested in stocks.

How am I faring. Care to comment? I feel poor.

Originally Posted by Unregistered

Invest in FH landed property and watch your net worth take off.

Hi, I find this quote really interesting. Are you sure of this statement given that you posted it in Q4 2010. Will this hold true for 2011 onwards? I am looking to buy a landed property. Not sure if the current prices will hold though.

Originally Posted by Unregistered

43, married. (Combined Nett Asset Value as follows)

Cash - S$800K

Stock - S$1.5m

Properties (2 apartments + 1 landed) = S$8.7m ((2.5m + 7m + 7.5m)(value today) - (0.4m + 3.1m + 4.8m)(outstanding loan))

Not including CPF and insurance monies.

How smart of you to have accumulated so much - mostly from your properties from what I see prima facie.

Care to share if you bought your properties at the trough or peak or somewhere in between of the property cycle? I am trying to determine if, should i buy a landed property today (say a SEMI-D) at the high, fly-through-roof prices people are asking, will I still be able to enjoy capital appreciation in say 8-10 years time?

Originally Posted by Peasant

Life as a multi-millionaire is lonely.. if you are single.
Yours friends are all working their butts off and they can see you only after office hours.
So lonely that many young millionaires surf the web and just chit-chat.

Sometimes, I meet up with fellow millionaires for coffee at starbucks during office hours at ulu location with no crowd.

Sometimes, I go with fellow millionaires to property showroom. It is kind of a hobby to us.

Sometimes, We go out test-driving cars when the showroom is empty during office hours.

Sometimes, I attend investment seminars to entertain myself. Coz I can get to see "millionaires" or "successful" people talking, yet still selling how to get rich course. I also find joy in seeing suckers rushing to sign up, to enrich the trainers, not the participants.

It's a lonely life and I ask you all to be gainfully employed even if you are a millionaire. Treat it as socialising with people. Treat your job as a hobby too. Don't be like me, I quit and now I have trouble going back to work.

Hey, I am going down the path now, even though my net worth is less than a third of yours. I totally can understand what you mean by lonely!!! My friends all have jobs and I am the bum who stays at home. I trade stocks at night and I make only 5k every few days, since I only have 200k fully invested in stocks right now, whereas you have 1.5M in stocks.

Totally understand what you mean by being too free for your own good and having money that is too "passively earned". I feel that I can't really relate to my friends when they talk about how tough it is working or having to work late (even though I was once like them a few years ago). People do not know that I have this kind of money in my bank because I lead them to think otherwise. So I don't get the kind of respect from people as I used to when I was working with a prestigious bank. It's funny how people change when you quit your job and become a bum.

Originally Posted by Unregistered

I thought you were getting out of here. Anyway, there is more to life than money. The poh piah king may be rich, but he doesn't command a lot of respect except from the uneducated.

i don't agree. I believe any man who is able to build a business so big (single handedly) commands most people's respect. Tell me you don't respect George Quek or Douglas Foo either? Then there are not many people who can command my respect in Singapore then.

Originally Posted by Unregistered

Me+wife 36, about 1.5m+0.5m

here are my two cents worth:

- those good teachers who are sad should not be sad, it's what you do with your life...you can go teach chinese in a UK public school and get paid 3 times more, but that means moving/leaving all your life behind, is that what you want? will it make you happy?

- I used to earn/spend like no 2moro, guess i was younger then, so people earning 10k and driving lexus def possible, i used to earn 15k and blow 15k a month, yes it was a great life (but not as good as some of my friends who earn 15k and blow 20k...)

- i guess when i got older (and wiser) i earn 20k and blow 'only' 5k...and now my credit card bill doesnt even get past 1k...! how life changes! and I feel equally happy...

- those who take some risks get rewarded...if you worry all the time if you buy some stocks/property it will go down etc. then you're never going to get rich. My bro, 5 years older, does that and has stashed hard earned salary in HSBC for 20 years eanring 2% p.a.. I am now double his networth. He is certianly more frugal than me too. The difference is I invest 50% of what i save over 10-15 years on stocks, funds, property, trades, business etc etc..

anyway, more important to find happiness in life..it's worth a lot more, we all only get 1 life each!

Hi, I like your advice. I used to earn very average salary of only 100k SGD a year all in. Whereas my hubby makes close to 300k USD a year or around 400k SGD all in. He managed to have savings of around 400k whereas I have about 1M SGD. That's because he would spend close to 70% of what he earns when I save 70%.

We are eyeing landed property since 2009. However the prices keep moving up. We are wondering if we should buy that semi-d. Since I have another property in Singapore and my husband has one in the states, I will have to put down 40% cash on this landed. It would mean wiping out all my cash and marketable securities! I find it quite painful to go down to zero earnings again, although I foresee my bank loan being only about 1.1M or about 3500 SGD a month and no maintenance fee - hehe!

What should I do? Buy or don't buy?

Originally Posted by Poor millionaire

Hi, I like your advice. I used to earn very average salary of only 100k SGD a year all in. Whereas my hubby makes close to 300k USD a year or around 400k SGD all in. He managed to have savings of around 400k whereas I have about 1M SGD. That's because he would spend close to 70% of what he earns when I save 70%.

We are eyeing landed property since 2009. However the prices keep moving up. We are wondering if we should buy that semi-d. Since I have another property in Singapore and my husband has one in the states, I will have to put down 40% cash on this landed. It would mean wiping out all my cash and marketable securities! I find it quite painful to go down to zero earnings again, although I foresee my bank loan being only about 1.1M or about 3500 SGD a month and no maintenance fee - hehe!

What should I do? Buy or don't buy?

That depends on whether the semi-d you're eyeing is 3000/ 1000 sqft or 1000/ 3000 sqft.

I wouldn't touch the latter with a ten-foot pole.

Originally Posted by Unregistered

That depends on whether the semi-d you're eyeing is 3000/ 1000 sqft or 1000/ 3000 sqft.

I wouldn't touch the latter with a ten-foot pole.

It's a 2500/ 3000 (land/ built up) ... in a prime area. I really need the space (3000), I do recognize what you are saying but i can't afford a 3000 land. However as long as I am paying a lower than market PSF for land, the price should be ok right?