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28-09-2011, 06:51 AM
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Quote:
Originally Posted by Unregistered
Seems to me that your savings are relatively low given your income level. What % of your income do you save per month or per year?
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Yes, probably savings on the low side, as we have just clear off the housing loan and looking to clear the car loan few months time.
Generally I would say we save about 30-40% of take home, and some of it actually went into insurance premiums.
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30-09-2011, 05:12 PM
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Net worth is not as important as having a pool of assets which generate sufficient passive income to cover your expenses.
This is probably one of the best ways to living the life you want
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01-10-2011, 06:42 AM
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Junior Member
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Join Date: Sep 2011
Posts: 1
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Age: early 40s
Annual income 300k+
3 properties
Valued 3m, loan 1.5m
Passive income 6k per mth / 72k p.a
Mutual funds 100k
Stocks 300k (200k after recent crash)
Cash 100k (waiting to invest)
Emergency cash 40k (3 mths expenses as standby)
Mthly Savings : 25 percent of take home pay
Net worth: about 1.9m
Am from the 1st batch of normal stream students (aka 5 years secondary school). Didn't think I would have a good future... I used to feel sorry for myself & adopted a victim mentality until I decided to be CEO of my own life & take responsibility.
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01-10-2011, 08:49 AM
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34 years old. Property 2M, loan 800K. Cash and stocks 1.1M. Annual salary close to 200K.
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01-10-2011, 09:34 AM
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Age: 40
Annual income for me and wife: $340,000
Property: $1,400,000 (no loan)
CPF : used to pay off property
Cash: $1,060,000
Car: fully paid
Waiting right time to invest in shares or another property.
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01-10-2011, 02:44 PM
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Millionaire Member
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Join Date: Jul 2010
Posts: 49
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You guys are all bull-shitting.......If you are only in your 30s or early 40s and have used your cash to pay up your property loans.....there us now way you can still have 1 million cash....especially if your income is only in the 200k region....
a quick calcuation shows that you are blowing your own trumpet....unless you are telling me you started earning 200k annually from your first day at work!
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01-10-2011, 06:02 PM
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Quote:
Originally Posted by Wiseman1
You guys are all bull-shitting.......If you are only in your 30s or early 40s and have used your cash to pay up your property loans.....there us now way you can still have 1 million cash....especially if your income is only in the 200k region....
a quick calcuation shows that you are blowing your own trumpet....unless you are telling me you started earning 200k annually from your first day at work!
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The explanation is simple. Obviously not all of it came from savings. I was lucky to buy a private property before 2006 for a low price and sold for more than double during the 2007 boom. Flipped 2 more after the market dropped in 2009  for more profits. If the market crashes again i will have a chance to make another 500k to 1M
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01-10-2011, 09:26 PM
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40s
net worth only $800K
no job - just got retrenched due to office politics
so how?
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01-10-2011, 11:16 PM
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Quote:
Originally Posted by poor guy
40s
net worth only $800K
no job - just got retrenched due to office politics
so how?
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Though 800k may seem like a lot to many people, getting retrenched at age 40 may mean it's harder to get a similarly high-paying job. How's your job search so far?
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