Whats your net worth

Wow just stumbled upon these forums since I'm mulling about resigning from my current company & jumping ship to another (foreign based) firm.

29y.o
Cash - 65k
CPF - approx 35k?
Stocks/ Gold - 50k
Car - Fully Paid 06 Ford Focus/ Fully paid 09 Kia Carens (shared 1/2 cost with sis, for parents use)
Housing - Staying with mom/pops in HDB, bought real estate overseas value approx SGD300k (loan amt approx SGD60k) - hope the price doubles %*^&$#

Year end performance bonuses used to be really good at the firm that I'm working at but last year's was a shocker for me (i got 25% of my previous year's bonus). If 2011's is still crap I'm going.

$25m

Ex-foreign minister of a small country.

Now on pension till I die.

Possibility of becoming President of that small country or mayor of a big GRC

Originally Posted by Unregistered

$25m

Ex-foreign minister of a small country.

Now on pension till I die.

Seriously go troll elsewhere. Salary forum is NOT for your stupid politics. GY is a great person and doesn't deserve malicious comments.

Let's keep Salary.sg POLITICS FREE.

Originally Posted by Unregistered

Seriously go troll elsewhere. Salary forum is NOT for your stupid politics. GY is a great person and doesn't deserve malicious comments.

Let's keep Salary.sg POLITICS FREE.

Are you sure he's a GREAT PERSON? You know him personally? Have you seen his "sorry also must explain" video clip during the James Gomez affair?

800k cash and stocks. Quitting job to start business. Wish me luck.

This forum is full of millionaires... so inspiring....seems that most of them made it through stocks and property.

But stocks are volatile, did you simply hold on all the way? What about between end 2008 and early 2009 when the market was at the bottom, did all of you millionaires simply stay cool and hold your stocks?

As for property... it also goes up and comes down. Although when the market is rising, the money made is very large, property can also be risky as it involves leveraging myself and paying off the loans for decades. Its ok if the property can be rented out at breakeven, but there is no guarantee there will always be a tenant! Not to mention the new draconian cash upfront requirements for second properties.

Any advice on how I can become a self-made millionaire like some of you too? Is stocks and property still the best way? Its my goal and dream to achieve financial freedom and a comfortable retirement, to be asset rich and cash rich.

Age: 30
Property: Condo (950k value now. Outstanding loan 460k)
Cash: 55k
Stocks: 20k
CPF: 37k (OA & SA)
Income: 5k monthly

I don't intend to buy a car unless public transport becomes intolerable.

Stupid moves when I was younger involved 4k realised loss and 8k paper loss on shares, 7k on useless branded goods, 15k on holidays, 30k on wedding. Looking back I was such a spendthrift. This has to change.

Originally Posted by Unregistered

This forum is full of millionaires... so inspiring....seems that most of them made it through stocks and property.

But stocks are volatile, did you simply hold on all the way? What about between end 2008 and early 2009 when the market was at the bottom, did all of you millionaires simply stay cool and hold your stocks?

As for property... it also goes up and comes down. Although when the market is rising, the money made is very large, property can also be risky as it involves leveraging myself and paying off the loans for decades. Its ok if the property can be rented out at breakeven, but there is no guarantee there will always be a tenant! Not to mention the new draconian cash upfront requirements for second properties.

Any advice on how I can become a self-made millionaire like some of you too? Is stocks and property still the best way? Its my goal and dream to achieve financial freedom and a comfortable retirement, to be asset rich and cash rich.

Age: 30
Property: Condo (950k value now. Outstanding loan 460k)
Cash: 55k
Stocks: 20k
CPF: 37k (OA & SA)
Income: 5k monthly

I don't intend to buy a car unless public transport becomes intolerable.

Stupid moves when I was younger involved 4k realised loss and 8k paper loss on shares, 7k on useless branded goods, 15k on holidays, 30k on wedding. Looking back I was such a spendthrift. This has to change.

it's simple.

Step 1: work hard and smart to get a higher income (at least 10K per month) so you have a good cash flow

Step 2: live frugally and build up savings (aim for at least 80K per year)

Step 3: use your war chest (min 500K) to buy property or stocks when there is a recession (example in 2003 after sars and 2009 after AFC).

Originally Posted by 2M in assets at 35

it's simple.

Step 1: work hard and smart to get a higher income (at least 10K per month) so you have a good cash flow

Step 2: live frugally and build up savings (aim for at least 80K per year)

Step 3: use your war chest (min 500K) to buy property or stocks when there is a recession (example in 2003 after sars and 2009 after AFC).

Agreed. That's what I did. Perhaps the hardest step is the first one.

Originally Posted by 2M in assets at 35

it's simple.

Step 1: work hard and smart to get a higher income (at least 10K per month) so you have a good cash flow

Step 2: live frugally and build up savings (aim for at least 80K per year)

Step 3: use your war chest (min 500K) to buy property or stocks when there is a recession (example in 2003 after sars and 2009 after AFC).

Thanks for the advice, it makes sense. The tough part for me is to increase my income streams, to more than just the monthly 5k pay. The thought of being so dependant on my employer and the measly increments, and obviously never going to retire comfortably on pay alone, makes me v uncomfortable. Sadly I only woke up to this reality in 2009.

To increase income, I tried forex and stocks with no success, lost money instead! Thought about having an internet business on the side, but can't think of a product or service that I am interested to sell. Currently still working on my trading psychology to become better at forex and stocks.

Yes, definitely I need to be more frugal. Currently my spouse and I save 30% of our income, we should be able to do better, although it would be a challenge when the kids come, and if I buy a car its goodbye to my savings

If I can save up a few hundred thousand when the next property and stocks crash come, this is my opportunity to make it, and become like some of you, self made millionaires! Till then I will continue working at it and keeping my goal in mind.