Age 50, what is a respectable income and net assets

[EdenHazard]

@EdenHazard why shock reaction?

300k can retire confortably liao

 

[Dilemma6]

HDB crowd - normal people, $1mil networth .. (assets - liabilities)
can sit at kopitiam or food court daily to past time.. and eat $6 dollar meals.. and no need work .. is already a winner.

Condo crowd - maybe need $3mil networth.

Landed crowd - maybe need $5mil networth

this is rather reasonable

 

[1982-1994]

300k can retire confortably liao

errr that includes CPFSA leh

 

[SBC]

1M cash or fully paid 4rm hdb, for a 50yo asset

You meant a fully paid HDB that is worth 1-mil?

 

[highsulphur]

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

Congrats!

 

[highsulphur]

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 is a fair post

 

[standarture]

50+ means you director lvl liao. $10-$20k range for normal director. Condo and car. 2 kids. Liquid savings around 500k.

 

[BennyQ]

By the time u old and unattractive, u will have more money than u ever did, but u will get less satisfaction from spending it.
If only life happens in reverse.

 

[snowblaze]

Note: ish NET asset...

About $5-6m asset

 

[MoeLanYong]

About $5-6m asset

Someone already posted $5m is top 1% in Asia. Asia has 4.5 billion people. Aim so high for what.

No wonder you are the chief of Negative Club and always depressed.

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

 

[cyke69sg]

50+ means you director lvl liao. $10-$20k range for normal director. Condo and car. 2 kids. Liquid savings around 500k.

That's on the low side if you ask me for my opnion.

But maybe low average is that.

 

[PaprikaSG]

 

[Pohpiahskin]

Really depends la, some 50 year old, whole life work as a cleaner, respectable means a roof over his head and cai png with fish every day is very good.

Company CEO, respectable is drive Lambo, stay landed, have 3 maids.

Why don't you just live comfortably and not compare with others?

 

[rodimus_prime]

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)

I actually think this is bare minimum. It’s entry level retirement. At least 80% can attain this but would it be the lifestyle you really want ?

To me, it’s about not having to ask money for permission to live the life you’re used to whilst at pinnacle of your career. Not what you can or cannot afford, but what you are used to and the lifestyle would like to have.

I’ve posted many times on this. $3m remains my estimate and it will still not buy you a luxury retirement . Just a respectable one.

 

[homer123]

If you have 2 mil liquid asset that can generate 6% return annually and stay in a paid off HDB, life is very comfortable already in Spore..

 

[cyke69sg]

If you have 2 mil liquid asset that can generate 6% return annually and stay in a paid off HDB, life is very comfortable already in Spore..

I guess for some Singaporeans the idea of staying in a HDB flat is not "comfortable".

Singaporeans live with needing to have "face".

It's not just about comfort in the true sense. But also how they are perceived.

 

[Nevereatrice]

Ts 50 yo? I tot is nus xdd?

 

[jericho75]

Should be 50 billions

 

[Redberries]

HDB crowd - normal people, $1mil networth .. (assets - liabilities)
can sit at kopitiam or food court daily to past time.. and eat $6 dollar meals.. and no need work .. is already a winner.

Condo crowd - maybe need $3mil networth.

Landed crowd - maybe need $5mil networth

Got house got kids...I dont think easy to have 1mill retirement money. Lol!

 

[ramlee]

I guess for some Singaporeans the idea of staying in a HDB flat is not "comfortable".

Singaporeans live with needing to have "face".

It's not just about comfort in the true sense. But also how they are perceived.

Whole life stay in HDB where got meaning?