49yo grad couple with $1.5m net worth feeling "poor".

[hwarzoner]

they are earning 160K per annum and feeling poor, then i am more jialat ...

 

[reinphd]

i earning below average salary after 14 yo also can accumulate $750K net worth cash+share+CPF...

but no car and house.

two grad combine 1.5mil is achievable.

true. a couple earning 5k for 20 years starting from now. each save up 2.5k for investment with a paltry 4% return also can hit 2m combined...... they probably did not invest in the market early or none at all.

bottomline is to be contented with what we have.

 

[hwarzoner]

true. a couple earning 5k for 20 years starting from now. each save up 2.5k for investment with a paltry 4% return also can hit 2m combined...... they probably did not invest in the market early or none at all.

bottomline is to be contented with what we have.

yup agreed.

 

[Bombermankid]

i earning below average salary after 14 yo also can accumulate $750K net worth cash+share+CPF...

but no car and house.

two grad combine 1.5mil is achievable.

can share more on how u did it ???

 

[FreedomAngelz]

KNS....reading this only made me more depress

 

[coloumbiaGames]

KNS....reading this only made me more depress

Treat it as a motivation to work harder instead.

Sent from the sky using GAGT

 

[bigpelican]

they got car, got condo and can travel yearly still dare to say "poor".

 

[cybercom8]

they are really quite "poor" considering their net worth includes the home they are living in.

they are earning $160k man, they must be spending a lot so some csb there about their spending habits

 

[Shiny Things]

Once-a-year overseas holidays, household income more than one-and-a-half times the Singapore average, and a million-dollar apartment?

Nope, these people are rich. They might not want to believe it, but they're rich.

Sing it, Anderson:

 

[hwarzoner]

can share more on how u did it ???

mostly are savings from salary (pay increment, bonuses and overtime works), nothing special, some gain from share bought many years ago and dividends gain.

minimally money put in mmf and some high interest deposits.

the rest are cpf.., no car and no house.

 

[OngHuatHuat]

A lot of people in EDMW are earning 20 k per month at least.

Some even comment earn 100 k per month is so simple.

mostly are savings from salary (pay increment, bonuses and overtime works), nothing special, some gain from share bought many years ago and dividends gain.

minimally money put in mmf and some high interest deposits.

the rest are cpf.., no car and no house.

 

[Perisher]

A lot of people in EDMW are earning 20 k per month at least.

Some even comment earn 100 k per month is so simple.

I rather believe those in the CC forum than the EDMW crowd...

 

[hwarzoner]

but there are millionaire in edmw

 

[Bombermankid]

mostly are savings from salary (pay increment, bonuses and overtime works), nothing special, some gain from share bought many years ago and dividends gain.

minimally money put in mmf and some high interest deposits.

the rest are cpf.., no car and no house.

to get 750k.. means ur salary is above average leh

 

[Mr.Canberra]

they are really quite "poor" considering their net worth includes the home they are living in.

Primary residence (non performing asset) cannot be considered as net worth even fully paid up.
That's why some people stretch their loan to maximum tenure to leverage even if they can fully pay up.

Technically to up your net worth you must rent out condo for passive income.
Rent a luxury condo in JB to leverage gains plus lifestyle maintain status quo minus the stupid long queues at immigration!
Staying in Johor Bahru is a form of leveraging.

Car is also a depreciative asset so every year net worth become less but offset by income if any.

To boost net worth must be like bro hwarzoner.
Zero hard assets but cash rich.

CPF wise can see but cannot touch until 55.
If CPF also considered as net worth many Singaporeans are multi millionaires.

I estimate in 5 years time bro hwarzoner could see his first million but subject to stock gains or losses.

 

[OngHuatHuat]

This is provided there isn't any need for him to buy homes.

Let say a retiree, owns a 8 million bungalow, 0 stock, 0 income, and that bungalow is his primary house. He is living off cpf life payout every month. So he also considered as zero net worth??

Primary residence (non performing asset) cannot be considered as net worth even fully paid up.
That's why some people stretch their loan to maximum tenure to leverage even if they can fully pay up.

Technically to up your net worth you must rent out condo for passive income.
Rent a luxury condo in JB to leverage gains plus lifestyle maintain status quo minus the stupid long queues at immigration!
Staying in Johor Bahru is a form of leveraging.

Car is also a depreciative asset so every year net worth become less but offset by income if any.

To boost net worth must be like bro hwarzoner.
Zero hard assets but cash rich.

CPF wise can see but cannot touch until 55.
If CPF also considered as net worth many Singaporeans are multi millionaires.

I estimate in 5 years time bro hwarzoner could see his first million but subject to stock gains or losses.

 

[Mecisteus]

This is provided there isn't any need for him to buy homes.

Let say a retiree, owns a 8 million bungalow, 0 stock, 0 income, and that bungalow is his primary house. He is living off cpf life payout every month. So he also considered as zero net worth??

primary residence cannot be considered as net worth. this is debatable.

but confirm you don't need 8 primary residences unless you got 8 wives and you rotate to reside every other day. so you still can consider the other 7 as net worth.

 

[Soul77]

When comparing to others, people will always feel inferiors.
Based on my experience, those who boast about their wealth, salary, home, etc. are actually the poorer ones or deep in debts. Those really rich ones are the more humble ones.

 

[OngHuatHuat]

Let say I only have a super expensive primary home, to get the house, I sold all stocks + used all cash on hand, then at the end I am
Considered zero net worth right according to that definition?
By the way, most Europe countries/ USA don have similar asset appreciation speed and they have huge capital taxes. That's why their primary home is a liability rather than asset for
Them.

primary residence cannot be considered as net worth. this is debatable.

but confirm you don't need 8 primary residences unless you got 8 wives and you rotate to reside every other day. so you still can consider the other 7 as net worth.

 

[OngHuatHuat]

Like moi, owe bank a lot of money, everyday need to worry.

When comparing to others, people will always feel inferiors.
Based on my experience, those who boast about their wealth, salary, home, etc. are actually the poorer ones or deep in debts. Those really rich ones are the more humble ones.