Whats your net worth

Being happy is more important than having a high paying job but unhappy. I have seen many people just stuck in their job but unhappy. These people lead sad lifes.

Good that you take charge of your life. Now you are a millionaire, which makes you at the top 1% of Singapore residents in terms of wealth. In terms of income, your $150k family income puts you at the top 30%. You are the man.

Originally Posted by Unregistered

I did likewise. Quit my job. No more office politics. I sold my fully paid up terrace for $1.9m and bought a $400k 4 room HDB flat in Bukit Batok. Now I am my own boss, actively managing $1.5m worth of equities investments. I get about $80k of equities dividends per year, while the value of my investment appreciated by 10% in 2013. I now have more free time to take care of my family. My wife is working, earning $70k pa. So with $150k pa family income, we survive. I hope to grow my investment to $5m over the next 20 years, so that my wife and I can retire at 65.

There are millions of jobless and homeless people in the world. Be happy even if you are earning $2k per month. Just work hard and don't overspend. You will be ok.

Yes we should be thankful for what we have, but we should not put the less fortunate down further by comparing ourselves against them and use their plight to make ourselves feel good.

Also any "comparison" is only meaningful if it is done in the context of where you live. If you live in a high cost city like here, earning only S$2k pm and supporting a family of 4 puts you close to the poverty level. On the other hand, the S$2k pm will provide a family of 4 living in a village in Indonesia or Thailand a very comfortable life. In this sense, people in those countries although earning less could actually be leading a better and more comfortable life than a family living here with higher pay.

Even a family with a household of $5k pm will find it a struggle here especially with the children going for higher education.

I grew up in a poor neighbourhood. Although we were poor, we didn't feel it so acutely then because everyone else was equally poor. In our estate only 1 or 2 families had TVs and cars were few. Nowadays, children compare mobile phones, talked about their holidays overseas, have maids to do their chores, driven to and from school etc. The children from less well off families will feel the difference more starkly. Their parents will feel it too when their children start to ask for those thing that their friends have. This is the reality and it does not away by telling ourselves that there are millions of destitute in the world.

Originally Posted by Unregistered

There are millions of jobless and homeless people in the world. Be happy even if you are earning $2k per month. Just work hard and don't overspend. You will be ok.

Wise words. Yes, we must always compare with others around you.

I am feeling miserable too. I come from a rich family, with many of my relatives living in bungalows. I only live in a small 2 bedroom unit. Many of my cousins earn more than $500k pa, whereas I only earn $90k pa and we are all in our 40s.

So, you are absolutely right. It is understandable that I should feel miserable even though I live in a condo cos others around me live in huge properties and earn much more. I'm a failure in their eyes.

Originally Posted by Unregistered

Yes we should be thankful for what we have, but we should not put the less fortunate down further by comparing ourselves against them and use their plight to make ourselves feel good.

Also any "comparison" is only meaningful if it is done in the context of where you live. If you live in a high cost city like here, earning only S$2k pm and supporting a family of 4 puts you close to the poverty level. On the other hand, the S$2k pm will provide a family of 4 living in a village in Indonesia or Thailand a very comfortable life. In this sense, people in those countries although earning less could actually be leading a better and more comfortable life than a family living here with higher pay.

Even a family with a household of $5k pm will find it a struggle here especially with the children going for higher education.

I grew up in a poor neighbourhood. Although we were poor, we didn't feel it so acutely then because everyone else was equally poor. In our estate only 1 or 2 families had TVs and cars were few. Nowadays, children compare mobile phones, talked about their holidays overseas, have maids to do their chores, driven to and from school etc. The children from less well off families will feel the difference more starkly. Their parents will feel it too when their children start to ask for those thing that their friends have. This is the reality and it does not away by telling ourselves that there are millions of destitute in the world.

Originally Posted by Unregistered

Wise words. Yes, we must always compare with others around you.

I am feeling miserable too. I come from a rich family, with many of my relatives living in bungalows. I only live in a small 2 bedroom unit. Many of my cousins earn more than $500k pa, whereas I only earn $90k pa and we are all in our 40s.

So, you are absolutely right. It is understandable that I should feel miserable even though I live in a condo cos others around me live in huge properties and earn much more. I'm a failure in their eyes.

your cousins earn >500k pa? are they all at CEO level?

Originally Posted by Unregistered

your cousins earn >500k pa? are they all at CEO level?

Top bankers, lawyers and surgeons. I'm just a social worker. I followed my passion in Uni, wanted to change the world to help the poor. I could have gone into banking and law courses but didn't. Now I am poor in their eyes. Can't help it, but to feel miserable.

I feel that the younger generation of students were brainwashed into chasing after their passions and their interests be it in the arts or some other abstract subjects only to find out the hard truths when they couldn't find jobs or jobs that pay peanuts.

They eschewed the more established professions like law, accountancy, medicine, engineering etc...forgetting the most basic of supply and demand. They have to ask themselves - why would anyone want to pay you for doing what you want to do? People pay you to do what they want, not what you want.

Originally Posted by Unregistered

Top bankers, lawyers and surgeons. I'm just a social worker. I followed my passion in Uni, wanted to change the world to help the poor. I could have gone into banking and law courses but didn't. Now I am poor in their eyes. Can't help it, but to feel miserable.

Originally Posted by Unregistered

Top bankers, lawyers and surgeons. I'm just a social worker. I followed my passion in Uni, wanted to change the world to help the poor. I could have gone into banking and law courses but didn't. Now I am poor in their eyes. Can't help it, but to feel miserable.

Several lessons to learn from this:

1. Just be happy with what you like to do and what you have. Stop comparing with people, including friends and relatives, who have more than you. There will always be who are wealthier, smarter, prettier, taller, etc than you. Just be a good person and lead an honest life. Avoid sins such as gambling, womanizing, drinking, gluttoning, back stabbing, cheating, stealing, etc.

2. Being born in a rich family can be a curse.

3. Life is short, stop whining and start doing good for humanity. Save the world. Help the poor and destitute. Every time you put a piece of meat in your mouth, just think of the millions of hungry souls in the world out there.

4. Be thankful that we are Singaporeans. We are the luckiest people in the world.

I will be 50 years old next year while my wife will turn 52. Our current combined income is not much by Singapore's standards, only $167k pa. However we are able to save and invest in stocks over many years. We were also lucky enough to be able to buy a condo in our younger years when it was a lot cheaper. We have lived in the condo for over 20 years, now it is worth $1.5m, and we have paid up our mortgage.

Today our combined net worth, including the condo, stocks and cash savings, amount to $2.3m. We hope to grow our net worth to $2.6m by the time we retire in our 60s. If we achieve $2.6m by then, and if we decide to sell our properties and stocks, and migrate to KL, we would have at least RM 6.6m. We will be multi millionaires in Malaysia. If we retire in Thailand, we will be super rich.

Good idea. With RM6.6m, you can retire in a big condo in KL. Everyday can eat in high class restaurants. Well done.

Originally Posted by Unregistered

I will be 50 years old next year while my wife will turn 52. Our current combined income is not much by Singapore's standards, only $167k pa. However we are able to save and invest in stocks over many years. We were also lucky enough to be able to buy a condo in our younger years when it was a lot cheaper. We have lived in the condo for over 20 years, now it is worth $1.5m, and we have paid up our mortgage.

Today our combined net worth, including the condo, stocks and cash savings, amount to $2.3m. We hope to grow our net worth to $2.6m by the time we retire in our 60s. If we achieve $2.6m by then, and if we decide to sell our properties and stocks, and migrate to KL, we would have at least RM 6.6m. We will be multi millionaires in Malaysia. If we retire in Thailand, we will be super rich.