Target networth

Status
Not open for further replies.

malthead

Member
Joined
Sep 2, 2018
Messages
281
Reaction score
7
Do you guys have a target networth and stick to it? Once attained, do you relax in any way like changing your job for something that you wanted tor try?

Or do you revise your target when you hit it?

The reason I am asking is that I wonder if I am able to tell myself "that's enough" and stop fretting or at least fret less about whether I have enough. Obviously there are other considerations like if you are single, married or with kids. The last scenario will definitely complicates matters in terms of the budgeting for their future expenses.
 

limster

Arch-Supremacy Member
Joined
Oct 31, 2000
Messages
11,423
Reaction score
2,432
Do you guys have a target networth and stick to it? Once attained, do you relax in any way like changing your job for something that you wanted tor try?

Or do you revise your target when you hit it?

The reason I am asking is that I wonder if I am able to tell myself "that's enough" and stop fretting or at least fret less about whether I have enough. Obviously there are other considerations like if you are single, married or with kids. The last scenario will definitely complicates matters in terms of the budgeting for their future expenses.

8-Stages-of-Wealth.png


I got 3 different targets:

target 1: wealth machine generates passive income that pays for my basic expenses
target 2: wealth machine generates passive income that pays for my standard of living
target 3: wealth machine generates passive income that pays for my standard of living + extra life goals.

I have reached target 1 and working towards target 2. At the minimum I want to achieve 2. Achieving 3 is optional for me.
 

d9_lives

Senior Member
Joined
Feb 15, 2008
Messages
1,747
Reaction score
169
Yep xxxx amount by xx years old.
I only revised it once, to 5 years earlier and slightly higher amount.

If we can hit the target even earlier, that'll be it.
We can't be young forever.
35y, DINK.
 

revhappy

Arch-Supremacy Member
Joined
Mar 19, 2012
Messages
11,451
Reaction score
2,063
I don't have such a target. But my attitude towards work has changed significantly as my networth has increased. Now I don't give **** about anything at work. I kind of take no initiative and have become very lazy at work. I just slack whole day and leave at 6 sharp. I am not sure if that is a good thing.

I am now bored of getting bored.

Sent from Dont Take Any Of My Statment As Investment Advice. Do Your Own Due Diligence. using GAGT
 

TabascoSauce

Master Member
Joined
May 7, 2017
Messages
2,833
Reaction score
2
yea.

250k by 30
550k by 35

the eventual goal is to reach 2mil before 50 and retire early
 

malthead

Member
Joined
Sep 2, 2018
Messages
281
Reaction score
7
I got 3 different targets:

target 1: wealth machine generates passive income that pays for my basic expenses
target 2: wealth machine generates passive income that pays for my standard of living
target 3: wealth machine generates passive income that pays for my standard of living + extra life goals.

I have reached target 1 and working towards target 2. At the minimum I want to achieve 2. Achieving 3 is optional for me.

I would like to think I am at stage 5. My biggest unknown is the cost of raising my kids, the youngest being only 5.
 

malthead

Member
Joined
Sep 2, 2018
Messages
281
Reaction score
7
I don't have such a target. But my attitude towards work has changed significantly as my networth has increased. Now I don't give **** about anything at work. I kind of take no initiative and have become very lazy at work. I just slack whole day and leave at 6 sharp. I am not sure if that is a good thing.

I am now bored of getting bored.

Sent from Dont Take Any Of My Statment As Investment Advice. Do Your Own Due Diligence. using GAGT

my attitude toward work has definitely changed in a way that i am less inclined to take risk. I don't think I am a worse employee, just less motivated.

Sometimes I do ponder if I could be more ambitious in climbing the corp ladder but then again, isn't the end goal financial stability?
 

T-Mobile

Member
Joined
May 16, 2015
Messages
190
Reaction score
3
It will never be enough . I am in stage 4 ( edit * should be stage 3 ) Been less hardworking lately . Spend more time with my 2 kids and my wife .

Just passed my 32th bday :)

My target was to reach 1mill networth by 40 years old

I made this target 10 year ago

By 26yo I was at 200k
I just managed to break 600k this month

Most likely I won't be able to reach 1 mil by age 40 . But I am pretty sure I should be somewhere near there :)

Relax and spend sometime doing things u have never tried before . Who knows , u could increase your networth faster than you could have thought
 
Last edited:

revhappy

Arch-Supremacy Member
Joined
Mar 19, 2012
Messages
11,451
Reaction score
2,063
It will never be enough . I am in stage 4 . Been less hardworking lately . Spend more time with my 2 kids and my wife .

Just passed my 32th bday :)

My target was to reach 1mill networth by 40 years old

I made this target 10 year ago

By 26yo I was at 200k
I just managed to break 600k this month

Most likely I won't be able to reach 1 mil by age 40 . But I am pretty sure I should be somewhere near there :)

Relax and spend sometime doing things u have never tried before . Who knows , u could increase your networth faster than you could have thought
Wow 2 kids at 32, you already seem to be on a very fast track.

So your 40 is actually somebody else's 50. You are 10 years ahead in everything :)

Sent from Dont Take Any Of My Statment As Investment Advice. Do Your Own Due Diligence. using GAGT
 
Last edited:

T-Mobile

Member
Joined
May 16, 2015
Messages
190
Reaction score
3
Wow 2 kids at 32, you already seem to be on a very fast track.

So your 40 is actually somebody else's 50. You are 10 years ahead in everything :)

Sent from Dont Take Any Of My Statment As Investment Advice. Do Your Own Due Diligence. using GAGT


Ya too fast until got 2 kids now . Haha
 

heavenandearth88

Senior Member
Joined
Sep 29, 2017
Messages
1,131
Reaction score
0
It will never be enough . I am in stage 4 ( edit * should be stage 3 ) Been less hardworking lately . Spend more time with my 2 kids and my wife .

Just passed my 32th bday :)

My target was to reach 1mill networth by 40 years old

I made this target 10 year ago

By 26yo I was at 200k
I just managed to break 600k this month

Most likely I won't be able to reach 1 mil by age 40 . But I am pretty sure I should be somewhere near there :)

Relax and spend sometime doing things u have never tried before . Who knows , u could increase your networth faster than you could have thought

care to share investment or saving method?
 

T-Mobile

Member
Joined
May 16, 2015
Messages
190
Reaction score
3
at 26 with 200k, i am not sure how you did it man.

Can be done when u stay with parents . No kids . No commitment.no bad habits .

I saved most of my income , invested in some REITs . Blue chips . REITs were depressed then .
e commerce during that time has a high margin . I was selling something that was profitable and demand was high . Margin was good .
 
Last edited:

ocs_woodlands

Supremacy Member
Joined
Feb 2, 2011
Messages
9,556
Reaction score
928
My HH target net worth varies between 3.2m to 4.4m depending on retirement scenarios in SG.

rwvD70w.jpg
.

For the high end, should be able to hit around 54 yo. For Low end should be in 3 years..

I am ahead of the pace by about 100k due to gains in property value this year and well behaved stock prices.

 

malthead

Member
Joined
Sep 2, 2018
Messages
281
Reaction score
7
My HH target net worth varies between 3.2m to 4.4m depending on retirement scenarios in SG.

rwvD70w.jpg
.

For the high end, should be able to hit around 54 yo. For Low end should be in 3 years..

I am ahead of the pace by about 100k due to gains in property value this year and well behaved stock prices.



You include property in your net worth? I assume it's your investment property rather than your home?

How old are you may I ask?
 

ocs_woodlands

Supremacy Member
Joined
Feb 2, 2011
Messages
9,556
Reaction score
928
You include property in your net worth? I assume it's your investment property rather than your home?

How old are you may I ask?

Yep include everything- all cpf accounts, all property equity, all insurance surrender values, all SRS balances

Mid 40s
 
Last edited:

Incognito1979

Junior Member
Joined
Apr 22, 2018
Messages
55
Reaction score
0
You include property in your net worth? I assume it's your investment property rather than your home?

How old are you may I ask?

Shouldn t net worth include property you're staying in? I mean from a technical point of view net worth should literally include everything. Cash, cpf, house etc minus liabilities

That's why I prefer to set my target in cash
 

malthead

Member
Joined
Sep 2, 2018
Messages
281
Reaction score
7
Shouldn t net worth include property you're staying in? I mean from a technical point of view net worth should literally include everything. Cash, cpf, house etc minus liabilities

That's why I prefer to set my target in cash

Many have debated on whether to include residence into net worth. My view is depends on the value. Say it's a small flat which you can't monetize (eg rent out a room or downgrade), then I prob won't include. But if you stay in a 10m bungalow, it doesn't make sense not to include.
 

ocs_woodlands

Supremacy Member
Joined
Feb 2, 2011
Messages
9,556
Reaction score
928
Many have debated on whether to include residence into net worth. My view is depends on the value. Say it's a small flat which you can't monetize (eg rent out a room or downgrade), then I prob won't include. But if you stay in a 10m bungalow, it doesn't make sense not to include.

My opinion is that one can do either but the important thing is to compare Apple to Apple and orange to orange.

So when one says so and so amount "shall liberate thou" make sure you know whether the amount is including or excluding primary residence.
 

malthead

Member
Joined
Sep 2, 2018
Messages
281
Reaction score
7
My opinion is that one can do either but the important thing is to compare Apple to Apple and orange to orange.

So when one says so and so amount "shall liberate thou" make sure you know whether the amount is including or excluding primary residence.

For me at the moment, I think my liberation amount will be S$8m. This figure, which is meant for my wife's and my retirement includes

1) cash
2) CPF
3) equities and bonds

Unfortunately do not have any investment properties.

The amount however would exclude
1) surrender values of insurance policies (viewed it as bequest)
2) wife's net worth (cash, cpf , etc) (viewed it as bonus)
3) my residence because hopefully I can continue staying there during retirement
 
Status
Not open for further replies.
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top