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29-08-2021 02:11 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
I think you need to aim for promotion or change job. 30 years plus and drawing 5k is actually very low.
Change of job comes with risk. New job different boss, different culture, different job security. Worse is join new company then didn't get confirmed or get retrenched after 1 year. $5k job to jobless.
25-08-2021 07:29 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
I think you need to aim for promotion or change job. 30 years plus and drawing 5k is actually very low.
You should invest. Saving without investing is just letting inflation erode your money. You cant retire early without investing
25-08-2021 06:54 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
I think you need to aim for promotion or change job. 30 years plus and drawing 5k is actually very low.
Please dont look down on others.
25-08-2021 09:32 AM
Unregistered
Quote:
Originally Posted by Actlikewhat View Post
I don't think I'm doing fine at all.. I had a lovely wife whom started savings with me when we are dating 10 yrs back... We always had a common dream of early retirement with no liabilities at all... We scrimp and save, sacrifice our quality of life, it always work, coffee shop dinner and home... Weekend we splurge abit by going for ajisen ramen or a movie... Holiday would be batam or bintan, or JB... And that's 10yrs of our youthful years...

Now we are both in our 30s... And we realize something is very wrong...

I had friends driving nice German cars.. Living in good area HDB and claim can still have 200-300k savings... I ask them how they do it.. They jus say "savings lor"

I don't know man... I think I'm doing it the wrong way...
I think you need to aim for promotion or change job. 30 years plus and drawing 5k is actually very low.
16-08-2021 07:21 PM
Unregistered I am married and 49 this year with wife same age
1m cash
1m equity
500k cpf
Home loan 3m
Home equity 500k recently bought

wife salary cover loan expense. my salary cover all home expense
very little savings left over except for bonus which is a swing factor
stable jobs

did i make a bad decision to purchase a property now ?
may downgrade in 5 years time
03-07-2012 08:00 PM
Unregistered
Quote:
Originally Posted by okcan8808 View Post
Is it just me or is everyone painfully insecure...
Just you.....
03-07-2012 05:51 PM
Unregistered
Am I doing ok?

Hi,

Yes I honestly think u r doing fine.Comparing is important but sometimes frustrating.When I was your age,my net worth was half a million.But I did not do it as savings alone.it was combination of savings and investment in properties during downturns.But at that time I included my own residential property that I stay in my calculation of net worth.Fast forward now at age of 39,my net worth with wife combined is $1.8M excluding property that we stay in.We both earn incomes of $200,000 per year combined.
03-07-2012 03:32 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
My friend, all is pretty on the surface but dig deep and you find that your friends are relying on debt.

To be honest with you, I also drive a german car. I'm 30 yrs old. My monthly installment + season parking+petrol is close to 3k. Excludes the Insurance and Road Tax per year (and I just remembered the hefty servicing fees). I earn 6k a month.

Like you, I also saw my friends driving german cars. With financing, you can get those things. But when you lose your job, all the cards come tumbling down...
so enjoy while you can! who knows, the cards may never tumble down....
03-07-2012 02:55 PM
Unregistered My friend, all is pretty on the surface but dig deep and you find that your friends are relying on debt.

To be honest with you, I also drive a german car. I'm 30 yrs old. My monthly installment + season parking+petrol is close to 3k. Excludes the Insurance and Road Tax per year (and I just remembered the hefty servicing fees). I earn 6k a month.

Like you, I also saw my friends driving german cars. With financing, you can get those things. But when you lose your job, all the cards come tumbling down...



Quote:
Originally Posted by Actlikewhat View Post
I don't think I'm doing fine at all.. I had a lovely wife whom started savings with me when we are dating 10 yrs back... We always had a common dream of early retirement with no liabilities at all... We scrimp and save, sacrifice our quality of life, it always work, coffee shop dinner and home... Weekend we splurge abit by going for ajisen ramen or a movie... Holiday would be batam or bintan, or JB... And that's 10yrs of our youthful years...

Now we are both in our 30s... And we realize something is very wrong...

I had friends driving nice German cars.. Living in good area HDB and claim can still have 200-300k savings... I ask them how they do it.. They jus say "savings lor"

I don't know man... I think I'm doing it the wrong way...
01-07-2012 01:38 PM
Unregistered
Quote:
Originally Posted by Actlikewhat View Post
I don't think I'm doing fine at all.. I had a lovely wife whom started savings with me when we are dating 10 yrs back... We always had a common dream of early retirement with no liabilities at all... We scrimp and save, sacrifice our quality of life, it always work, coffee shop dinner and home... Weekend we splurge abit by going for ajisen ramen or a movie... Holiday would be batam or bintan, or JB... And that's 10yrs of our youthful years...

Now we are both in our 30s... And we realize something is very wrong...

I had friends driving nice German cars.. Living in good area HDB and claim can still have 200-300k savings... I ask them how they do it.. They jus say "savings lor"

I don't know man... I think I'm doing it the wrong way...
You should also ask them what are their liabilities, i.e. how much debt do they have.

With your net worth, though not a lot, I'm sure you could also have lived it up like them, i.e. buy a beemer / Audi, live in a mass market condo, and still have 200k cash.

Except that you have chosen the conservative route. I believe your friends are "richer" because they bet on property in the past decade. In times of rising property prices, many people have gotten a lot richer simply by upgrading from one apartment to another.

But will property prices continue to rise? That's a question you have to answer yourself. Nobody knows for sure.
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