Whats your net worth - Page 267 - 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
  #2661 (permalink)  
Old 04-04-2019, 11:10 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by lazyplane View Post
Since i started this :

Nope. there is still a cap even if the bequest go CPF. And you cant specify the CPF account for bequest to go to. Pls give CPF a call. And as i said before, we are all CPF fans.

I am not sure about the point you said you can hold 2 jobs and for both jobs to contribute to 37.4k . Why ?
While i didnt hold 2 jobs, i had sign on bonus when i joined a competitor firm and the sign on bonus attracted CPF contributions. From there, my excess CPF from my new job was returned to me in cash. Hence i think there is a max cap of 37.4k (ie annual limit) no matter how many jobs you hold that contribute...And if you hold 2 jobs and both contribute CPF , it will still be capped to annual limit. Anything above will be refunded. And if you are figuring how this can happen, i changed job in dec.



Finally, The idea of business man registering the sons over multiple companies and contributing CPF to the max just to beat the game and get interest is ridiculous lah. Why ?

because if you do it, then the business man basically is declaring that their children is earning income of 102k per year per job. You cant contribute to CPF by stating it is employment income yet declare later to IRAS that all income was paid in CPF only. MOM employment regulations dont allow this. [Of course, if you wish to make false declaration then that is another story]

Imagine the income tax that the business man have to pay just to earn such miserable interest on CPF for their children..... Not a very smart business man.

As i said, i dont doubt you can earn 40k in interest... but as seen in AK71,
it is difficult.. and wife + you have achieved this.. meaning you have a lots of monies in CPF... around 3 m based on rough calculations

And since you got me started... i started to re-read your post.
You mentioned 9 years ago, you had 3.3m .. now above $7m.
With a $3m CPF, your non CPF networth is 4 m.. I dont know how much you had in CPF 9 years ago, but like this discussion thread - everything is possible. So using simple maths to calculate and assume no bequest etc, then it is possible your CPF grew by $800k for both you and wife in last 9 years. That means your non CPF investments 9 years ago $1.1m with CPF at $2m. If you want to share, share about how you grew your non CPF investment from 1.1m to 4m in 9 years. Cos that is truly impressive and will like to learn from you.
This discussion is getting convoluted and complicated because there are at least three different respondents here.

But first, thanks for the clarification on the fact that one CANNOT bequeath CPF monies to your beneficiaries' OA, but only to their SA (if they are below 55, and capped at prevailing FRS), or their RA (if they are above 55, and capped at the prevailing ERS) and MA (capped at the prevailing BHS).

I was not the one who suggested that businessmen contributed monies into their children's CPF accounts although this is a common practice not just among business people but ordinary executives who have spare money left over.

However I was the one who stated that although the maximum CPF contribution per year is $37,740, a person can actually contribute more that amount if he works two or more jobs at the same time. This is a fact. Just call the CPF office or better still write in for a black & white reply.

About my networth growing from $3.3M to over $7M in 9 years? I did mention we suffered paper losses during the GFC. With the strong property & stocks recovery, we made back the paper loss amount and then some. I also accumulated more stocks during the recovery process and the value just grew.

If you read carefully, I also mentioned that although my wife and I were not holding top management positions, we were earning comfortable remuneration. These have allowed us to purchase our rental property with cash and still be able to return to CPF the amounts that we used for our primary residence purchase.

Now, knowing the fact one cannot receive bequests into one's OA, it makes us OA millionaires an even more special achievement.

To be a CPF millionaire is already quite an achievement, but to be a CPF OA millionaire is an even rarer achievement. CW8888 achieved this at 62, I did it at 56.

Just looking at the CPF growth trajectory of AK71, at 48 with $845K in his combined CPF accounts, if he continues to contribute maximum of $37,740 into his CPF, by 55, he should hit $1M in his CPF OA. His overall CPF combined amount would then in the region of $1.3M



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


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
  #2662 (permalink)  
Old 05-04-2019, 12:14 PM
Unregistered
Guest
 
Posts: n/a
Default

39 yrs old
Married with 2 primary schooling kids
Combined :
900k cash in fixed deposit yielding 1.7-1.9% pa
375k in GE 2.80% 3yr plan
115k in SRS : split into 90k in stocks and 25k ssb
330k in cpf OA alone

Hdb fully paid for
Car loan 150k

Reply With Quote
  #2663 (permalink)  
Old 05-04-2019, 05:43 PM
Super Member
 
Join Date: Aug 2010
Posts: 335
lazyplane is on a distinguished road
Default

Congrats ! that is why i am login and u can see my post on who post what.

Interesting pt on the 2jobs -I will need to check why i was refunded in cash previously by CPF board. I was given the impression the annual cap is final and anything above is refunded


Quote:
Originally Posted by Unregistered View Post
This discussion is getting convoluted and complicated because there are at least three different respondents here.

But first, thanks for the clarification on the fact that one CANNOT bequeath CPF monies to your beneficiaries' OA, but only to their SA (if they are below 55, and capped at prevailing FRS), or their RA (if they are above 55, and capped at the prevailing ERS) and MA (capped at the prevailing BHS).

I was not the one who suggested that businessmen contributed monies into their children's CPF accounts although this is a common practice not just among business people but ordinary executives who have spare money left over.

However I was the one who stated that although the maximum CPF contribution per year is $37,740, a person can actually contribute more that amount if he works two or more jobs at the same time. This is a fact. Just call the CPF office or better still write in for a black & white reply.

About my networth growing from $3.3M to over $7M in 9 years? I did mention we suffered paper losses during the GFC. With the strong property & stocks recovery, we made back the paper loss amount and then some. I also accumulated more stocks during the recovery process and the value just grew.

If you read carefully, I also mentioned that although my wife and I were not holding top management positions, we were earning comfortable remuneration. These have allowed us to purchase our rental property with cash and still be able to return to CPF the amounts that we used for our primary residence purchase.

Now, knowing the fact one cannot receive bequests into one's OA, it makes us OA millionaires an even more special achievement.

To be a CPF millionaire is already quite an achievement, but to be a CPF OA millionaire is an even rarer achievement. CW8888 achieved this at 62, I did it at 56.

Just looking at the CPF growth trajectory of AK71, at 48 with $845K in his combined CPF accounts, if he continues to contribute maximum of $37,740 into his CPF, by 55, he should hit $1M in his CPF OA. His overall CPF combined amount would then in the region of $1.3M

Reply With Quote
  #2664 (permalink)  
Old 15-04-2019, 12:25 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
No, I was not being sarcastic.
Do you live in Singapore?
yes i live in Singapore. What about you?
Reply With Quote
  #2665 (permalink)  
Old 05-05-2019, 09:39 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
yes i live in Singapore. What about you?
Me too. How do we get in touch?
Reply With Quote
  #2666 (permalink)  
Old 15-05-2019, 05:53 PM
Unregistered
Guest
 
Posts: n/a
Default Realistic

Quote:
Originally Posted by Tired View Post
In the 40s, wife late 30s, 2 kids.
Combined income $300k+ pa.
Net worth, including stock, CPF, case, and home, around $4m.
2 cars, fully paid.
Working on generating passive income of around 8k a month, currently no where near that amount..
Update, 6 yrs later.
now in the late 40s, wife mid 40s, 2 kids entering teens.
Combined income $500k+ pa (I am still working)
Net worth, including stock, CPF, cash, and home, $5m+.
1 car, fully paid (take the bus sometimes)
Working on generating passive income of around 10k a month, currently nowhere near there still..
Reply With Quote

  #2667 (permalink)  
Old 18-05-2019, 08:53 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Update, 6 yrs later.
now in the late 40s, wife mid 40s, 2 kids entering teens.
Combined income $500k+ pa (I am still working)
Net worth, including stock, CPF, cash, and home, $5m+.
1 car, fully paid (take the bus sometimes)
Working on generating passive income of around 10k a month, currently nowhere near there still..

My wife and I hope to retire when we reach 55 years old. We have been studying and working hard all our life and want to retire very soon to enjoy a more relaxed life. We have paid up our mortgage and we are debt free! We will retire in KL, where we can enjoy city living at a low cost. We have family ties and friends there. We will retire with the income we get from our property which we will rent out plus some dividend income from stocks. Our passive income will be about S$3,000 pm.

If we retire in Malaysia our passive income will be RM9,000 pm. This will enable us to rent a condo in KL for about RM1,500 pm. Our food, car and other expenses will be about RM5,000 pm. So, in total our expenses will be RM6,500 pm. We can still save RM2,500 pm. This is on top our cash savings of S$100,000.

When we reach 65, we will receive a payout of S$4,000 pm (RM12,000) from CPF Life which we will use to travel the world and rent a more expensive, upscale condo in KL. Our passive income at 65 will be S$7,000 pm (RM21,000 pm). We will be rich foreign retirees in KL, where we will live in a posh condo and drive a posh sports car. Life will be wonderful. Our children can visit us twice a year during the holidays.
Reply With Quote
  #2668 (permalink)  
Old 19-05-2019, 11:18 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Me too. How do we get in touch?
Which part of SG do you live in?
Reply With Quote
  #2669 (permalink)  
Old 10-06-2019, 10:26 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Update, 6 yrs later.
now in the late 40s, wife mid 40s, 2 kids entering teens.
Combined income $500k+ pa (I am still working)
Net worth, including stock, CPF, cash, and home, $5m+.
1 car, fully paid (take the bus sometimes)
Working on generating passive income of around 10k a month, currently nowhere near there still..
Typical perpetual drawdown rate is 4%. With 5mil asset, you should have a safe 200k to spend a year, or about 16k a month. You shouldn't have issue to generate 10k a month.
Reply With Quote
  #2670 (permalink)  
Old 18-06-2019, 08:34 PM
Unregistered
Guest
 
Posts: n/a
Default

53 / 43 Married with 2 kids, lower sec n one in primary sch.

Cash 640k
Combined CPF 616k
Stocks 270k
SRS 52k looking for value stocks
insurance value 150k
Condo value 790k fully paid
Car loan 17k
term insurance coverage of 1m plus 430k for other policies
private hospital insurance for 4

Single income, 250k annual
Annual savings around 130k
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 15 20-06-2013 02:58 PM
legal profession not worth it? alarme Income and Jobs 3 05-04-2010 03:35 PM

» 30 Recent Threads
High Finance Thread ( 1 2 3... Last Page)
220 Replies, 62,790 Views
AML/Compliance/KYC professionals... ( 1 2 3... Last Page)
1,434 Replies, 661,283 Views
Banks' Pay and Bonuses ( 1 2 3... Last Page)
241 Replies, 112,619 Views
Compilation of MAs/Analysts Gross... ( 1 2 3... Last Page)
505 Replies, 122,419 Views
Associate salary in Investment...
7 Replies, 500 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
3,197 Replies, 1,439,231 Views
Roles in accenture singapore ( 1 2 3... Last Page)
1,295 Replies, 370,261 Views
Lawyer Salary ( 1 2 3... Last Page)
11,326 Replies, 3,836,073 Views
prospects of a scholar ( 1 2 3... Last Page)
83 Replies, 114,922 Views
ST Electronics ( 1 2 3... Last Page)
2,115 Replies, 441,922 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
3,025 Replies, 1,231,669 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
1,420 Replies, 987,523 Views
How is life as a doctor in... ( 1 2 3... Last Page)
2,080 Replies, 1,203,022 Views
Career as Teacher ( 1 2 3... Last Page)
3,574 Replies, 2,194,429 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
5,930 Replies, 1,541,887 Views
DBS tech seed programme ( 1 2 3... Last Page)
578 Replies, 120,528 Views
Dsta ( 1 2 3... Last Page)
937 Replies, 659,529 Views
Different rank in local banks ( 1 2 3... Last Page)
82 Replies, 141,331 Views
Top 100 Highest-Paid Jobs in...
6 Replies, 4,987 Views
Comp Science Frsh Grad Salary ( 1 2 3... Last Page)
594 Replies, 54,496 Views
How long does it take to hear back... ( 1 2)
18 Replies, 935 Views
UBS Financial Services Industry... ( 1 2 3... Last Page)
251 Replies, 64,615 Views
Preschool & Childcare Teachers ( 1 2)
13 Replies, 5,322 Views
Compare civil service salary ( 1 2 3... Last Page)
11,721 Replies, 6,740,827 Views
Document Specialist/Preparati... ( 1 2)
19 Replies, 2,552 Views
ITE lecturer ( 1 2 3... Last Page)
233 Replies, 179,043 Views
Salary Calculation
5 Replies, 1,804 Views
Factual Local Bank Salaries - DBS... ( 1 2 3... Last Page)
383 Replies, 177,562 Views
GovTech career grade ( 1 2 3... Last Page)
250 Replies, 241,608 Views
GE Water and Process Technologies
2 Replies, 1,504 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 01:44 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2