**Official** Personal Financial Thread

[spiritGate]

Lai lai, come share your personal net worth and your financial planning so all of us can learn from each other.

For me, I started saving when I was young and currently only manage to save $70K++ (pure cash and shares).

My strategy is to save around 60% of my money every month and save all my bonus in OCBC and UOB bank account for high interest every month.

I also open a Maybank shared account with my fiancee, where every month we deposit $50 each into the account.

Although I hope to hit $100k next year but have to take out around $25k for wedding. Also I aim to purchase condo by mid 2017 - hopefully can get a $600k 2 bedroom condo.

Of course different people m got different method of counting their own net worth and no one is right or wrong, just that how we perceive it.

This is for pure sharing of tips and share your current net worth and it would be great if you can share the tips with us.

 

[limster]

Lai lai, come share your personal net worth and your financial planning so all of us can learn from each other.

+1 waiting for mummy1234, yyhwin and other HNW people.

+2 Seannie say that yyhwin is jin sakti

+3 followed by frenchbriefs and MrCanberra commenting on how many rich people in HWZ

+4 followed by Mod

All these 'show me the money thread' got pattern already.

 

[spiritGate]

+1 waiting for mummy1234, yyhwin and other HNW people.

+2 Seannie say that yyhwin is jin sakti

+3 followed by frenchbriefs and MrCanberra commenting on how many rich people in HWZ

+4 followed by Mod

All these 'show me the money thread' got pattern already.

As long as it is healthy discussion, i dont mind ppl showing off their wealth and at the same time share some tips with us on how they manage to save that much

Sent from sent from gagt using GAGT

 

[shared]

why buy condo, not HDB?

ask your gf to pass the condo back to her parents, then u both can buy HDB already

 

[havetheveryfun]

$70k called only before u even started really working ? jin sakti..

 

[arigatoast]

omg.. not again this kind of thread. previous one got closed by mod liao....

 

[Perisher]

I do hope I don't have to do anything here and the discussion can be a peaceful one...

 

[wondrdoggie]

Now I am curious, what happened to the earlier thread that got shutdown by mod?

 

[Perisher]

Now I am curious, what happened to the earlier thread that got shutdown by mod?

Here you go.
http://deluxeforums.hardwarezone.com.sg/money-mind-210/how-much-you-have-age-30-male-5256424.html

Basically the last few pages.

 

[wondrdoggie]

Here you go.
http://deluxeforums.hardwarezone.com.sg/money-mind-210/how-much-you-have-age-30-male-5256424.html

Basically the last few pages.

I see. Fireworks sia. Haha

 

[Genosis]

omg.. not again this kind of thread. previous one got closed by mod liao....

In Singapore's context, this type of thread usually ends in heated arguments/ fights about 3 main topics.

1. Property
2. CPF
3. Insurance

Let's see if this comes true

 

[QNH1013]

Although I hope to hit $100k next year but have to take out around $25k for wedding. Also I aim to purchase condo by mid 2017 - hopefully can get a $600k 2 bedroom condo.

Don't know what the trend is now, but I think $25k is a lot of money to spend on a wedding. I'd think it makes more sense to have a small wedding (skip the dinner if possible), and save the money..or spend it on the house if you really feel like spending it.

Just my 2 cents worth

 

[cupidsux]

Don't know what the trend is now, but I think $25k is a lot of money to spend on a wedding. I'd think it makes more sense to have a small wedding (skip the dinner if possible), and save the money..or spend it on the house if you really feel like spending it.

Just my 2 cents worth

I think the most ideal situation will always boil down to wedding banquet being held at realistic location thus the affordability and inviting the right people sadly that is how it is + I think he meant the overall wedding stuff like engagement ring, wedding band , pre wedding photoshoot, actual day wedding shoots and all related misc stuff , so I guess 25 k is a rather conducive figure to begin with and I feel you cause I'm in the midst of this as well . Lol ~

If you and your wife is high stable income earner , a condo shouldn't be a concern but I think the key point is stability in a unstable economic situation. You need to pay 5% in cash ; which is around 30k, calculating everything in , I think you are a bit tight cause still need to get some furniture and stuff like that ..

 

[RayOfLight]

a bit off topic but just wanna shall my views..

I personally feel that we shouldn't see money so "heavily". it's good to save and have financial plans but I personally think we shouldn't over do it. yes, no one will say that money is enough and no one will mind to have more. one may think and plan far to have early retirement, etc. not trying to say that it's not good, but like I say don't over do it. end of the day, money can't bring into coffin. we don't know when we will rip, could be tomorrow or anytime.

money can't buy love but it could somehow buy happiness.. so pamper yourself with occasional good food, gadgets, clothes.. vacation.. etc.. of course don't overspend.. it will bring you no where and you could be miserable trying to compare with others or trying hard to save money..

we live for many reasons, but we definitely don't want to live for money.. YOLO!

 

[Perisher]

a bit off topic but just wanna shall my views..

I personally feel that we shouldn't see money so "heavily". it's good to save and have financial plans but I personally think we shouldn't over do it. yes, no one will say that money is enough and no one will mind to have more. one may think and plan far to have early retirement, etc. not trying to say that it's not good, but like I say don't over do it. end of the day, money can't bring into coffin. we don't know when we will rip, could be tomorrow or anytime.

money can't buy love but it could somehow buy happiness.. so pamper yourself with occasional good food, gadgets, clothes.. vacation.. etc.. of course don't overspend.. it will bring you no where and you could be miserable trying to compare with others or trying hard to save money..

we live for many reasons, but we definitely don't want to live for money.. YOLO!

Not to worry, I think most here have an idea of how to enjoy life. Even if they focus on wealth accumulation, that might be because that is their hobby.

 

[spiritGate]

why buy condo, not HDB?

ask your gf to pass the condo back to her parents, then u both can buy HDB already

Cannot leh cause her parent already got quite a nunber of properties liao so hard for them to digest one more

$70k called only before u even started really working ? jin sakti..

No la, work for one year + le. Total saving now is 70k

Don't know what the trend is now, but I think $25k is a lot of money to spend on a wedding. I'd think it makes more sense to have a small wedding (skip the dinner if possible), and save the money..or spend it on the house if you really feel like spending it.

Just my 2 cents worth

For me ok la, cause is once in a lifetime event. So spend this amount is ok de. Ours is quite small also cause less than 15 tables, but now each table cost (average) 1k++, but we manage to get below 900 per table de, so is quite cheap liao. That's why we try to find cheaper alternatives for every item on the list

Sent from sent from gagt using GAGT

 

[spiritGate]

a bit off topic but just wanna shall my views..

I personally feel that we shouldn't see money so "heavily". it's good to save and have financial plans but I personally think we shouldn't over do it. yes, no one will say that money is enough and no one will mind to have more. one may think and plan far to have early retirement, etc. not trying to say that it's not good, but like I say don't over do it. end of the day, money can't bring into coffin. we don't know when we will rip, could be tomorrow or anytime.

money can't buy love but it could somehow buy happiness.. so pamper yourself with occasional good food, gadgets, clothes.. vacation.. etc.. of course don't overspend.. it will bring you no where and you could be miserable trying to compare with others or trying hard to save money..

we live for many reasons, but we definitely don't want to live for money.. YOLO!

Yea thats true. But like what perisher says some people may treat savings as their hobby. Other people might be amliming for early retirement so that they can enjoy life when they are in their mid 30s or older. So is depend on how each individual's goals are

Sent from sent from gagt using GAGT

 

[spiritGate]

I think the most ideal situation will always boil down to wedding banquet being held at realistic location thus the affordability and inviting the right people sadly that is how it is + I think he meant the overall wedding stuff like engagement ring, wedding band , pre wedding photoshoot, actual day wedding shoots and all related misc stuff , so I guess 25 k is a rather conducive figure to begin with and I feel you cause I'm in the midst of this as well . Lol ~

If you and your wife is high stable income earner , a condo shouldn't be a concern but I think the key point is stability in a unstable economic situation. You need to pay 5% in cash ; which is around 30k, calculating everything in , I think you are a bit tight cause still need to get some furniture and stuff like that ..

yea will be quite tight but luckily for the first two years (after I buy a 2 bedroom condo), the interest repayment is quite little (around few hundred dollars) which enable me to save more before the actual payment hits in.

After we move into the 2 bedroom, then my wife will either sell her condo (for profit) or keep it for rental. If she able to rent her place, then her installment and maintenance fee will be covered by the rental.

Then I calculated that if I managed to get a 600k condo, my installment per month plus maintenance will be around 2.5k. By that time, my salary will be around (according to my projection) 5k (not inclusive of bonus). So every month, I will spend around 3.8k and will save around few hundred dollars per month plus bonus.

My fiancee and I will need to plan our financial properly before we buy the 2 bedroom condo.

 

[NewInvestor]

yea will be quite tight but luckily for the first two years (after I buy a 2 bedroom condo), the interest repayment is quite little (around few hundred dollars) which enable me to save more before the actual payment hits in.

After we move into the 2 bedroom, then my wife will either sell her condo (for profit) or keep it for rental. If she able to rent her place, then her installment and maintenance fee will be covered by the rental.

Then I calculated that if I managed to get a 600k condo, my installment per month plus maintenance will be around 2.5k. By that time, my salary will be around (according to my projection) 5k (not inclusive of bonus). So every month, I will spend around 3.8k and will save around few hundred dollars per month plus bonus.

My fiancee and I will need to plan our financial properly before we buy the 2 bedroom condo.

Well done! This is a nice, viable and sensible plan.

 

[havetheveryfun]

a bit off topic but just wanna shall my views..

I personally feel that we shouldn't see money so "heavily". it's good to save and have financial plans but I personally think we shouldn't over do it. yes, no one will say that money is enough and no one will mind to have more. one may think and plan far to have early retirement, etc. not trying to say that it's not good, but like I say don't over do it. end of the day, money can't bring into coffin. we don't know when we will rip, could be tomorrow or anytime.

money can't buy love but it could somehow buy happiness.. so pamper yourself with occasional good food, gadgets, clothes.. vacation.. etc.. of course don't overspend.. it will bring you no where and you could be miserable trying to compare with others or trying hard to save money..

we live for many reasons, but we definitely don't want to live for money.. YOLO!

And the reason why people don't want to live for money is precisely the reason why they see money so "heavily" and have to overdo savings when they are still young. So that they can really not live for money anymore sometime later and work just because they like to, and not work because they have to.