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Whats your net worth

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  #961 (permalink)  
Old 27-05-2013, 01:28 AM
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Came across this forum by chance. I found the sharings here interesting. Makes me wonder how far I am from those in this forum. I hope most people out there are not like those who shared here. In this forum, many seems to be rich, at least from my standard.

Let me share mine. My wife are I are in our mid 40s, earning a combined income of $158,000 per year. We live in a condo, owns a car and have 2 teenage children. We enjoy going to holidays to Australia, China, Thailand, Vietnam, Korea, Japan, etc.

Our net worth, both husband and wife, including our home is about $1.98 million.

Comparing to those posting in this forum, we are nothing but I think we are doing quite well if you compare with families in our age group. What do you think?
How did you manage to accumulate so much net worth given your relatively low combined income? Did you make some significant investment gains?

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  #962 (permalink)  
Old 27-05-2013, 09:38 AM
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How did you manage to accumulate so much net worth given your relatively low combined income? Did you make some significant investment gains?
Yes, it is through investment gains.

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  #963 (permalink)  
Old 27-05-2013, 09:44 AM
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Originally Posted by Unregistered View Post
Came across this forum by chance. I found the sharings here interesting. Makes me wonder how far I am from those in this forum. I hope most people out there are not like those who shared here. In this forum, many seems to be rich, at least from my standard.

Let me share mine. My wife are I are in our mid 40s, earning a combined income of $158,000 per year. We live in a condo, owns a car and have 2 teenage children. We enjoy going to holidays to Australia, China, Thailand, Vietnam, Korea, Japan, etc.

Our net worth, both husband and wife, including our home is about $1.98 million.

Comparing to those posting in this forum, we are nothing but I think we are doing quite well if you compare with families in our age group. What do you think?
Don't worry, you are doing very well. Assuming you are now a millionaire, you are in the top 1% of Singapore residents. Congratulations! Those who shared here are only those who are successful in their own right, so they deserve the bragging rights. We shouldn't be jealous of them but learn from how they did it. Useful pointers for the younger generation. Thanks for sharing your inspirational story.

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  #964 (permalink)  
Old 27-05-2013, 09:52 AM
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Don't worry, you are doing very well. Assuming you are now a millionaire, you are in the top 1% of Singapore residents. Congratulations! Those who shared here are only those who are successful in their own right, so they deserve the bragging rights. We shouldn't be jealous of them but learn from how they did it. Useful pointers for the younger generation. Thanks for sharing your inspirational story.
You are far from being the top 1% of Singapore residents. If the report (in Straigts Times 27 May 13) is true, there are 91000 Singapore residents / citizens with more than US$1M (or S$1.28M) investible funds. This amount excludes their primary property.

91,000 is about 2% of the population.

Some more your $1.98M is for both husband and wife, not yours alone and includes your home.

Bear in mind, below this 91000 millionaires, there are hundreds of thousands more that are near to being millionaires.
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  #965 (permalink)  
Old 27-05-2013, 11:07 PM
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As I told you before many forumer here doesn't know to calculate their net worth. Many are just quoting highly crap figure. Statistic shows that average Singapore net worth is only around $100K-200K figures. But a lot of forumer here quoting million dollar of net worth. It's really unbelievable fantastic. Please noted that Singapore household are highly debted as compared to another countries, this due to high house price as compared to their income.

Please see the following links

http://www.singstat.gov.sg/publicati...eet/op-e24.pdf
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  #966 (permalink)  
Old 27-05-2013, 11:28 PM
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As I told you before many forumer here doesn't know to calculate their net worth. Many are just quoting highly crap figure. Statistic shows that average Singapore net worth is only around $100K-200K figures. But a lot of forumer here quoting million dollar of net worth. It's really unbelievable fantastic. Please noted that Singapore household are highly debted as compared to another countries, this due to high house price as compared to their income.

Please see the following links

http://www.singstat.gov.sg/publicati...eet/op-e24.pdf
Hongkies are averegely twice as richer as most of Singaporean ...

World distribution of wealth - Wikipedia, the free encyclopedia


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  #967 (permalink)  
Old 27-05-2013, 11:42 PM
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Originally Posted by Unregistered View Post
As I told you before many forumer here doesn't know to calculate their net worth. Many are just quoting highly crap figure. Statistic shows that average Singapore net worth is only around $100K-200K figures. But a lot of forumer here quoting million dollar of net worth. It's really unbelievable fantastic. Please noted that Singapore household are highly debted as compared to another countries, this due to high house price as compared to their income.

Please see the following links

http://www.singstat.gov.sg/publicati...eet/op-e24.pdf
This report shows average Singapore net wealth is around $300k however the median net wealth is only $30K, yes only $30K!!!

Is Your Net Worth Above US$255,488? | Salary.sg - Your Salary in Singapore
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  #968 (permalink)  
Old 27-05-2013, 11:43 PM
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Originally Posted by Unregistered View Post
As I told you before many forumer here doesn't know to calculate their net worth. Many are just quoting highly crap figure. Statistic shows that average Singapore net worth is only around $100K-200K figures. But a lot of forumer here quoting million dollar of net worth. It's really unbelievable fantastic. Please noted that Singapore household are highly debted as compared to another countries, this due to high house price as compared to their income.

Please see the following links

http://www.singstat.gov.sg/publicati...eet/op-e24.pdf
i just read the pdf. from my understanding, if you include children and old people, the per capita net wealth is ~$170k, as you said. HOWEVER, the average net wealth figure is ~$610k PER HOUSEHOLD (see table 4).

and note that these numbers are more than a decade old. with inflation and high income through the years, a $1m net wealth for an average household here isn't all that surprising.

moreover, the people who brag here are most definitely not your average person, due to survivorship bias (or the hao lian factor). let's say these people are in the top quartile. then all the more, the figures of $2-4m of combined net worth is definitely plausible (i.e. no bull).

2c
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  #969 (permalink)  
Old 28-05-2013, 01:13 AM
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Originally Posted by Unregistered View Post
Came across this forum by chance. I found the sharings here interesting. Makes me wonder how far I am from those in this forum. I hope most people out there are not like those who shared here. In this forum, many seems to be rich, at least from my standard.

Let me share mine. My wife are I are in our mid 40s, earning a combined income of $158,000 per year. We live in a condo, owns a car and have 2 teenage children. We enjoy going to holidays to Australia, China, Thailand, Vietnam, Korea, Japan, etc.

Our net worth, both husband and wife, including our home is about $1.98 million.

Comparing to those posting in this forum, we are nothing but I think we are doing quite well if you compare with families in our age group. What do you think?
my wife and i have a combined net worth of $2.75M. i would not say we are doing well even though we are relatively young (36 and 34 years old), what we have only provides for a standard upper middle class lifestyle (freehold newly renovated terrace house and one car). in fact, i am holding back on buying a second car to be able to save more for rainy day and also for investment opportunities.
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  #970 (permalink)  
Old 28-05-2013, 06:53 AM
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my wife and i have a combined net worth of $2.75M. i would not say we are doing well even though we are relatively young (36 and 34 years old), what we have only provides for a standard upper middle class lifestyle (freehold newly renovated terrace house and one car). in fact, i am holding back on buying a second car to be able to save more for rainy day and also for investment opportunities.
May I know your combined income?
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