Whats your net worth

And not forgetting that there's survivorship bias. Winners tend to show off much more than losers.

We are are an average Singaporean family.
We are in our forties and have two teenagers.
Our total net worth, including our primary home, is about $2m.
Our total household income per year is about $150k per year.
Will need to work until 65. By then our savings and passive income should be about $5k a month, enough to survive for an old couple with no car. Luckily our home is next to an MRT station.

Life in Singapore is good if you compare with those living in other parts of the world.
We enjoy cheap BTOs and pay low personal income taxes.

We hope to die peacefully in retirement.

Originally Posted by Average Sporean family

We are are an average Singaporean family.
We are in our forties and have two teenagers.
Our total net worth, including our primary home, is about $2m.
Our total household income per year is about $150k per year.
Will need to work until 65. By then our savings and passive income should be about $5k a month, enough to survive for an old couple with no car. Luckily our home is next to an MRT station.

Life in Singapore is good if you compare with those living in other parts of the world.
We enjoy cheap BTOs and pay low personal income taxes.

We hope to die peacefully in retirement.

I am in two minds on what you wrote. On the one hand, I want to commend and applaud you for you probably personify the typical family man anywhere in the world who has secured a good job, and bring a comfortable standard of living to your family. And at the same time you are fully aware that to maintain this state of affairs, you would have to continue working till 65.

On the other hand, you seemed resigned to the fact this is your station in life and are accepting of your fate. This should not be the way especially when one is living in a dynamic city state like Singapore where "new normals" are set every so often.

I still remember the time when we as new entrants to the job market were very impressed and awed with our seniors (around 35 yrs of age) earning $100K a year. Fast foward to today, the new normal or expectation is $200k a year. I also know of people who are saving $200K to $300K yearly. For these people, they can buy a european car every year or a condo every 5 years.

Below is the reality in Singapore (based on 2012 data):

Average household income (5 rm and Exec): $10,160 per month
Average household income (condo): $19,026 per month
Average household income (landed) : $25,419 per month.

My point is dont get caught on the wrong side of the wealth divide.

And there people are still wondering why people are still buying condos and cars with their seemingly high prices.

I remembered reading a recent news paper article that 34,000 HDB owners also owned condos.

Age: 44, married with 3 teens.
Salary: $215k basic
Cash: 650k
Insurance policies cash value : $150k
Dividends: approx $300k per year (co-owner of business)
Assets: one semi-D ($4.2m valuation), cars ($460k mkt value)
Job: Entrepreneur
Experience: 19 yrs
Debt: about $1.5m (mortgage)

What should I do ? Considering stocks, overseas properties, bonds etc AND...retirement in 3 years hopefully.

Age: 37, married with 2kid
Salary: 17k mthly
Cash: 300k
Stocks: 720k
Unit Trust: 350k
House: Condo ($1.9m valuation, 400k loan outstanding)
Job: Mgt Consultant

40, SME boss
$450k pa
Live in a small bungalow, worth $6m, fully paid up
Owns 3 investment condo
Total net worth about $15m
Hope to grow net worth to $25m by 60 years old

[lazyplane]

Originally Posted by Unregistered

40, SME boss
$450k pa
Live in a small bungalow, worth $6m, fully paid up
Owns 3 investment condo
Total net worth about $15m
Hope to grow net worth to $25m by 60 years old

so what the heck u doing here

You should at least try to maximize your cash which is not doing anything to repay the mortgage interest and even the loan. Also keep 30% of the cash as emergency funds and take a diversified portfolio of stocks and bonds. In that way, you are sheltered from any tail risk market movement

Originally Posted by Unregistered

Age: 44, married with 3 teens.
Salary: $215k basic
Cash: 650k
Insurance policies cash value : $150k
Dividends: approx $300k per year (co-owner of business)
Assets: one semi-D ($4.2m valuation), cars ($460k mkt value)
Job: Entrepreneur
Experience: 19 yrs
Debt: about $1.5m (mortgage)

What should I do ? Considering stocks, overseas properties, bonds etc AND...retirement in 3 years hopefully.

Age 23, Have Yet to Graduate one more year left. Studying Econs and Finance

cash - $25k+
stocks/trading account - $440k+
various funds & endowment - $90K+
CPF - $10k+
No Assets

I started learning about trading at 17 from my parents got addicted/passionate about it. took about 1.5 years to actually master or be fully discipline about it, i cant trade before 18. Starting was hard cause i lost nearly all my savings about 80% it really hurt at that time. I was aggressive and thought i could be a millionaire like in a week. :/

Started Trading properly at 19 with starting amount of $2k with compounding rate of 0.5-1.5% per week. Focus on Indices and forex. I have been told countless time to withdraw but because of its compounding rate i decide to keep it in there as long as possible. But i did withdraw about 40k. Age 20 i paused for about 3 months and then went into HFT and worked with Raptor Co and increase my weekly income to 3-4%(currently $12k to $15k per week) and got 14 friends and family investors, all this while in the army . Hoping to Open a Hedge Fund at the age or 27-28. Right After Graduating I intend to work in Merrill Lynch(SG) for about 2 years and learn more about managing and starting one. Plus i have been told that i am going to need 2 different certs before i can start one. So yeah. thats basically what i feel passionate. I know i am passionate about this is because i don't mind waking up early or sleeping late and i could look at charts and read news all day and still feel alert. I do have a life but before 7pm, to avoid trading hours, i would still hangout my friends Plus My HFT gives me more time.

Its nice to read that there are many millionaires in SG and i hope to be one soon. Plus the cost of living in SG is top 6 in the world. I noticed when i was 19, that surviving in SG with an income below 6-8k is really hard. And now I see it would be close to impossible to own a house without a debt if i didn't started trading at an early age and most people would be working half their life to pay of that debt and leaving them nothing for retirement. And what the new generation failed to realised is the inflation. which is currently at 3-5% per year and employers are still paying the $6 wages per hour,which was 8 years ago,and by right this year should be a minimum of $9.7/hr. Sadly SG has no minimum wage because they want to maintain the low unemployment rate. Well there are many pros and cons.

Lastly, May the Pips Be with you