Age 50, what is a respectable income and net assets

[explorerX]

For a couple 6mil.

 

[focus1974]

if you hv close to S$5mil net assets, u’re in the top 1% in Asia and in Singapore.

https://www.knightfrank.com/researc...ow-much-wealth-gets-you-into-the-global-top-1

I am the top 1% !
here got a few.

 

[MoeLanYong]

A generalization I suppose?

For some others it is after age 40 that you get enough experience both in life and in expertise to then command higher earnings and positions.

Depends on the industry I guess?

https://www.asiaone.com/money/media...pore-here-what-people-these-roles-are-earning

Google yourself rah. I thought you are the young one and I am the old one...??

 

[PARKRANGER]

So many big canon fairies

 

[Jdm4ever]

You can have $1.2k per mth income working part-time at Mac but still be very respectable if you have $10m asset...

ya wash toilet bowl with 10m in bank

stupid or what

 

[Dinoboyboy]

according to moi financial calculator, by 50 i will have a nw of sgd 21305.21


Read HWZ Forum Rules!

 

[Yowe55 mini]

Dear Top 1%,

Could you all please help providing guidance and support me gaining employment?

Confidence for the future. More good years ahead...
Thank you.

 

[1982-1994]

Earns at most $4500 at 50yo doing 8h job including 1.5h break time, off 6 days a month

Net assets $300k

 

[souldude]

most here think no $10M no talk.

most here will also pin their hopes on toto to reach that target.

 

[itedino]

Note: ish NET asset...

Maybe I think around 5m

 

[cyke69sg]

I am aged 50+.

Let me tell you a secret. After 40s, your income starts to drop. Because employers see you like see ghost. Avoid you. Sometimes even make cross sign at you to ward off evil spirits. You can find all these data in any respectable salary survey.

Hey bro

You said after 40s income starts to drop. I think you meant after maybe age 45 lah....

My eyes something wrong? Looks like from 35-39 to 40-44 is still a jump leh.

More accurate to say after age 45. And into 50s.

Yes I am younger than you.

 

[MoeLanYong]

Since I am 50+ and around the age, let me tell you what is a good estimate, and a respectable net worth. Don't anyhow cannon fairy.

This person should have a 5 room hdb fully paid up by then. Not necessarily at prime location. So its about $700k. The whole Singapore don't live inside Bishan.

He would have brought up 2 kids. Close to uni age. Because this is where my kids are at now.

If he and his wife each can achieve FRS, this will be a good achievement. Because someone need to give up his/her career to bring the kids up.

Home: $700k
FRS x2: $400k
Some savings: $50k

$1.15m between him and his wife. This a respectable sum.

They can retire at 65 with dignity and not depend on their kids for allowance (like many kids here have reported giving to their parents)

 

[MoeLanYong]

Hey bro

You said after 40s income starts to drop. I think you meant after maybe age 45 lah....

My eyes something wrong? Looks like from 35-39 to 40-44 is still a jump leh.

More accurate to say after age 45. And into 50s.

Yes I am younger than you.

See the yellow box. Median. 40s drop

 

[cyke69sg]

Since I am 50+ and around the age, let me tell you what is a good estimate, and a respectable net worth. Don't anyhow cannon fairy.

This person should have a 5 room hdb fully paid up by then. Not necessarily at prime location. So its about $700k. The whole Singapore don't live inside Bishan.

He would have brought up 2 kids. Close to uni age. Because this is where my kids are at now.

If he and his wife each can achieve FRS, this will be a good achievement. Because someone need to give up his/her career to bring the kids up.

Home: $700k
FRS x2: $400k
Some savings: $50k

$1.15m between him and his wife. This a respectable sum.

They can retire at 65 with dignity and not depend on their kids for allowance (like many kids have reported giving to their parents)

I don't know why Singaporeans like to have such discussions and thoughts. But I do agree with your assessment above.

In reality, people just live. They make decisions. They work. They choose to retire. They do some work that makes money. They donate. They volunteer. They travel. They get sick. They recover. They help their kids. They dont bother about their kids.

There is NO STANDARD.

There are also high earner who spend lots and don't have any savings cannot retire but live a damn good life while making their income. Would anyone prefer to be that person? Can travel lots. Business first class flights. But his bank account might be smaller.

There are also rich people who live like paupers. Stingy. Scrimp. Everyday eat $3 cai png. But got $10m in assets.

Let be lah.

 

[Darth_Yang]

Respectable is no need ask.. but know no worries about expenses...

 

[EdenHazard]

to not be a laughing stock, at least 3m sgd ba....

 

[gnoes85]

Fully paid house any car, with kids is more respectable.
At 55yo can just withdraw excess from cpf and treat the funds as retirement more than enough.

 

[1982-1994]

Earns at most $4500 at 50yo doing 8h job including 1.5h break time, off 6 days a month

Net assets $300k

@EdenHazard why shock reaction?

 

[PikaPika33]

sinkapor3ans all minimun 1 millions tanks to hdb huat ah

 

[chuah23]

Since I am 50+ and around the age, let me tell you what is a good estimate, and a respectable net worth. Don't anyhow cannon fairy.

This person should have a 5 room hdb fully paid up by then. Not necessarily at prime location. So its about $700k. The whole Singapore don't live inside Bishan.

He would have brought up 2 kids. Close to uni age. Because this is where my kids are at now.

If he and his wife each can achieve FRS, this will be a good achievement. Because someone need to give up his/her career to bring the kids up.

Home: $700k
FRS x2: $400k
Some savings: $50k

$1.15m between him and his wife. This a respectable sum.

They can retire at 65 with dignity and not depend on their kids for allowance (like many kids here have reported giving to their parents

this look correct