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Whats your net worth

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  #2621 (permalink)  
Old 29-07-2018, 04:12 PM
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I am also a super strong advocate for CPF and because i am one, i also know the journey to build $250 k CPF portfolio.

I just want to clarify why i said it is a bluff to have 250k at age 28.
It is not impossible as the poster set to clarify after my post. In addition, he made a screenshot of the contribution to CPF at age 18 somewhere as he clarified after JC

I just wish to say- at age 18, you are able to "contribute" approx 900 to CPF.
Annual limit for CPF as mentioned by other 37.74k.
So it is possible to hit S$250k . But this limit also means it cannot be easily done at one go.


But to build $250k portfolio in CPF means you must have sufficient means to contribute significantly over the 10 years period. so lets do some rough maths . Lets assume the full balance of the contribution was earning 4% across the full 10 years. So if the poster had 250k after 10 years, what was the size of investment at year 0 ?
Simple financial maths will let you know the initial capital was S$168k.
Again, just to make things simple assume this capital sum was contributed over 10 years, it means 16k per year. I dont even wish to talk about moving OA to SA or how if you contribute later, then the total amount at the back end years will need to be more etc?

I just wish to state
Age 18 - contributing 16 k per year to CPF all the way to 28 on average.
Has to complete study and maybe NS , degree , then work 3-4 years.
is not a normal kid. Somemore , never touch his CPF even to pay for university . Wah - i wish i started my life like you.

Hence i can only conclude-
The poster must have a lot of financial help in other areas or has a way of making money more than what he is saying.

Flipping property can increase because your cpf especially if you dont touch your cpf for your next property. this is especially true for downgraders.

As said, i am strong advocate for CPF. Some poster here, i dont know if saying such large number means more people will say CPF is a real retirement plan. But for me, i have done it and it is working nicely. I am already on track with those whom are like me to get my yearly 20k interest dividend... and i have a few years more to work so should hit some of the target that other have said. but it is not so easy to do it when young.
I also think young people have higher risk tolerance so if you can make money and have already so much, then should take more risk to get better returns. i didnt have much when younger so couldnt take the investment risk so i find myself doing an inverse thing ie taking more equity risk when i am older since my portfolio has enough stable ones . And now i do this equity risk now to build more income stream.

Anyway, i am just an old man rambling...


Quote:
Originally Posted by Unregistered View Post
No reason for bluff. As previous poster has mentioned, based on the CPF contribution limit, it is possible to achieve this amount.

Just consistent and diligent CPF contributions and top ups. I also do transfer from OA to SA so that helps in compounding at higher interest rate. Below is my CPF balance as of today. I have maxed out MA and almost hit FRS in SA. The reason that I have some amount in OA is to act as a buffer for my upcoming property purchase and I intend to transfer the OA funds to SA if I do not need it for my property (highly likely).

As an additional fun fact, I have attached my first CPF contribution in Jun 2008 prior contribution was from my part time job in JC. Lol. Based on my projection, I should be able to reach 1mil CPF by 50 (albeit a conservative estimate). Being able to reach such an amount like the previous poster is one of my retirement goals.

PS: I am a strong advocate of using CPF for retirement planning. That being said, I think I have got some room to brush in terms of my portfolio as I am holding on to too much safe assets which may impede my portfolio growth.




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  #2622 (permalink)  
Old 29-07-2018, 04:23 PM
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Quote:
Originally Posted by Unregistered View Post
Thanks for sharing. May I know how did you invest your SRS funds? I have been toying with the idea of SRS but banks are charging outrageous fees for transactions.
What kind of outrageous fee did you get ?

I am charged 0.25% percent + nominal fee for investing in equity. Just buy STI ETF using SRS when you dividend level of STI hits 5%.

If you dont invest, then SRS is really a cash investment. 0.25% leh . If you hold for 10 years, assume 4% missed growth, the value of this cash is 40% drop in purchasing power.

In fact SRS is my defacto equity account. I hold it to do equity. I prefer this to using my real free cash float which is unrestricted.

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  #2623 (permalink)  
Old 29-07-2018, 06:16 PM
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Married couple
Lives in a condominium unit in the OCR
Our combined net worth is average for our age group
Total net worth only $2.3 mil, including our home
We hope to retire by 55
How about you?

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  #2624 (permalink)  
Old 01-09-2018, 11:36 AM
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mid 40s with 2 kids in primary school (we all living overseas)

income after tax S$140k per annum
passive income: S$50k per annum
cash on hand : S$ 700k
stocks: S$50k
CPF: 0 , used all up to buy HDB more than a decade ago

Singapore Property : value 500K left loan 50k
3 units of Foreign Property : valued in Singapore dollar S$ 2.5 mill
Foreign property Loan : 700K

i am just a mediocre compared to most here...
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  #2625 (permalink)  
Old 01-09-2018, 03:17 PM
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If you live within your means and Do not use CPF to buy house.

CPF is definitely enough for retirement, don't even need to transfer OA to SA

The problem is almost all singaporeans lack discipline. Always tempted by bigger houses
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  #2626 (permalink)  
Old 01-09-2018, 04:15 PM
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Quote:
Originally Posted by Unregistered View Post
If you live within your means and Do not use CPF to buy house.

CPF is definitely enough for retirement, don't even need to transfer OA to SA

The problem is almost all singaporeans lack discipline. Always tempted by bigger houses
Issue is property prices are expensive. We cant withdraw the CPF totally when needed at old age. So might as well use it to buy house now.

If you use CPF to buy house, then make sure that is cash for retirement.
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  #2627 (permalink)  
Old 02-09-2018, 10:55 AM
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Couple, 34 & 32 with a very young kid. Work and live in Singapore.

Total cash ~$260k
Total liquid investment (equity) ~$255k
Total illiquid investment (share options which haven't matured, insurance, fixed deposit etc) ~$200k
Total CPF (OA + SA + MA) ~$360k
Total properties estimated value ~$1.5m
Total liabilities (outstanding loans) ~$880k

Networth is hence ~$1.7m
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  #2628 (permalink)  
Old 03-09-2018, 10:06 AM
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Among my high flying friends, our net worth is nothing to shout about. We are close to reaching our 50s yet our net worth is only about $2m combined. We live in a small two bedroom condo which will be our retirement home. I think we are below average in our age group. What do you think?
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  #2629 (permalink)  
Old 04-09-2018, 06:34 PM
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Quote:
Originally Posted by Unregistered View Post
Among my high flying friends, our net worth is nothing to shout about. We are close to reaching our 50s yet our net worth is only about $2m combined. We live in a small two bedroom condo which will be our retirement home. I think we are below average in our age group. What do you think?
You are doing very well as a couple. You are a couple multi millionaire. Don't need to compare with your friends or other people.

Be happy and contented with your achievements. You are very successful because you have achieved the 5 Cs, especially Condominium, Cash and Car. 80% of Singaporeans live in HDB public housing, so being able to own and live in a private property in Singapore is a big achievement.

Not only that, you can even afford to retire in a condominium, which is again very rare as there are those who may live in a condo but not able to retire in them as they can't afford to clear their condo mortgage by the time they retire.

Well done! By the way, I am 50 and already retired in my 40s.
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  #2630 (permalink)  
Old 21-09-2018, 08:11 AM
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Quote:
Originally Posted by Unregistered View Post
If you live within your means and Do not use CPF to buy house.

CPF is definitely enough for retirement, don't even need to transfer OA to SA

The problem is almost all singaporeans lack discipline. Always tempted by bigger houses
Well said. These 3 avenues or instruments set up by the gahmen are adequate to sustain a person's requirement.

It is inevitable that most people will use their CPF to fund their property purchase. That is ok. Along your career, as you pay down your mortgage and get promoted and thus salary increases, dont be tempted or fall into lifestyle inflation trap.

If you don't elevate your lifestyle as your income grows, you will be able to slowly return the money to CPF, the amount that you withdrew from it to fund your property purchase.

I was able to start returning money to my CPF account in my mid-40s, and completely paid up to my CPF account all that I withdrew for property purchase when I reached 55. By the way, we have 2 condos.

So just based on our CPF, SRS and CPF Life we are expecting the following income stream in our retirement:

From now to 61 yo
CPF Interest : $48k pa

From 62 to 64 yo
CPF Interest : $48k pa
SRS drawdown : $29k pa

From 65 to 71 yo
CPF Interest: $48k pa
SRS Drawdown: $29k pa
CPF life payout: $40k pa

From 72 yo onwards
CPF Interest: $48k pa
CPF Life : $40k pa

We are supplementing the above with shares dividends (~$60k pa) and rental income (~ $36k pa).
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