23-06-2013 10:31 PM | ||
Unregistered |
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300k is like the life savings of my retired father. but then there are many levels of wealth. i remember at some point our president Nathan was making 300k PER MONTH! |
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23-06-2013 10:21 PM | ||
Unregistered |
Do not be concerned for these people. With a net worth of $4.5m, and some more at 49 yrs old, they are more than ready to retire. No need to deleverage. Loan interest rate is only 1%. They are probably collecting rent from their 2nd property. Looking at their income and expense, they are saving $300k pa. Within 3 yrs, they can comfortably pay off their loan of $750k. And I think they can actually pay off the loan now if they want. Worry for yourself |
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23-06-2013 07:54 PM | ||
Unregistered | Guess if anyone needs a guideline, I think a 1.5m condo (eg small studio in good district or a bigger 3 roomer mass market condo) and a 200k car (eg 2nd hand BMW or Mercedes) is ok for a family with 2m net assets. | |
23-06-2013 01:58 PM | ||
Unregistered |
Age: Early 30s + late 30s Income: 110K + 60K Dividend income: close to 0. Terrible, terrible with shares Properties: 1 condo home, remaining debt 425K, mkt value 1M 1 investment property, remaining debt 462K, mkt value 600K. Rented at 6% yield Cash + shares: 40K. Low cash due to relatively recent purchase of investment property CPF not counted. Expenses:110K per annum due to parental maintenance, shopping, holidays, eating out. No car Small fries. Looking at this, our expenditure is too high considering we have no car! Love shopping, eating and holidays too much. |
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23-06-2013 12:52 PM | ||
Unregistered |
age: 37 and 35 work income: $190K (single income) dividend income: $11K net worth: $2.7M (cash, stocks plus home value net of loan) home: freehold terrace car: used bmw 523 our net worth is high relative to income due to profits from property and stock investments |
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23-06-2013 12:47 PM | ||
Unregistered |
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23-06-2013 12:03 PM | ||
kong |
More info from me: Age - 40 & 41 Combined income - $400k pa Net worth including primary residence - $2.5m Housing type - HDB executive apartment 4 bedrooms (bought at $500k, now worth $800k) Car - Honda stream (bought at $80k, fully paid) Family expenses - estimated $80k pa As we are comparing housing type and car type wrt to income and net worth, it will be good if we include purchase & current prices of condo/hdb/landed and car make & model. |
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23-06-2013 11:02 AM | ||
Unregistered |
Don't be too happy. I suggest you deleverage. Sell your condos and buy a HDB flat. You and your wife are now at the highest risk of being retrenched and replaced by foreigners. Take care. Quote:
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23-06-2013 10:43 AM | ||
Unregistered |
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23-06-2013 10:01 AM | ||
Unregistered |
To have a more complete picture, you should also state your household expenses, either monthly or yearly. My family: Age - 49 Salary - $220k + $120k Passive income - $63k Condo (primary) - $1.6m (fully paid) Condo (2nd property) - $1.3m (loan 750k) 2 cars - 1 MPV & 1 sedan (fully paid) Total net worth - $4.5m(incl. stocks, other investments) Household expense - $100k pa Quote:
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