If you count those "landed plots" at Lim Chu Kang... proportion goes way up.

People can be as rich as they want on the internet

Many working-professionals couples have $1m net worth combined by age 40.

20% of Singaporeans stay in private housing. Most private housing have past the S$1m mark, or at least pretty close. Add in cash savings + cpf money... $1m net worth is pretty common.

Even a 5 RM HDB now in heartland area is $600-700k. Assume you finish paying off your loan at 50 years old, your CPF + HDB house should be enough to make you a millionaire.

So once the Older Generation of Singaporean die off.. our younger generation will automatically inherit the million dollar and there will be EVEN more S$1m net worth couples...

Sad thing is life expectancy going.. so these older generation don't die as fast as they used to :(

What if you don't count residence property? It's not easily convertible to cash unless you sell and stay with your kids.

Home net worth = $800K

CPF and cash = $200K

Stocks = $30K

Total = $1.3 mil

Annual salary only $80K a year

Worried I dont have enough for retirement. I am now 50 years old.

Excluding residence, you only have 500k. Maybe sufficient, but not a lot.

Couple almost 50
 

Property 2 mil
Loan outstanding 1.3 mil

Cash 825k
CPF 950k
Stock 68k

2 cars
Car loan outstanding 37k

Please share your secret. Lots of middle class couples aspire to be like you. Can you help us a little?

Couple almost 50
 

Quote:
Originally Posted by Unregistered
Property 2 mil
Loan outstanding 1.3 mil

Cash 825k
CPF 950k
Stock 68k

2 cars
Car loan outstanding 37k

I must say we made some small fortunes with our homes so far. Not on speculation. Our 1st property a hdb we stayed for 5 yrs, we sold n made $230k. Our 2nd property private stayed for 10 yrs, sold and made 400k. Current condo in prime district has appreciated by 300k.

We are both graduates n been working since 1989. Our salary have grown over the years. Our salary plus bonus combined for last year was 315k. So that enable us to accumulate cash n CPF over the years.