Savings in 40s

[itedino]

Why not?
Savings in cash gives peace of mind. Also optionality to buy assets in times when market is down instead of panic selling when overexposed

Now bank and government many layers of policies scrutiny and prevent the younger generation from getting rich.

Everything also ask. Bank asking a lot withdraw cash why so much. My own money to explain to them. Transferring 200k in and out also ask. Need invoice, documents

Government policies tax and tax. U want to buy any properties, must pass the tdsr, absd. Buy commercial still ok

上岸 already. Got strong passive income and asset then really lucky now. Pity the young generation unless u president scholar or degree holder. Non degree holder very very hard. I can see from the situation

 

[Spike]

Not normal? What is normal?

As long as you are trying your best already, there is no need to bother about others.

Having knowledge will not help, change or improve your life if circumstances are different. Or if you don't aim to change anything.

 

[Acetone]

Quite normal… by 40s should at least have close to 500-700k excluding your own property.

 

[sellbuyboy]

Covered call etf Bo jiak one huh. How does it works

 

[cyke69sg]

Now bank and government many layers of policies scrutiny and prevent the younger generation from getting rich.

Everything also ask.

Like what?
I beg to differ. It's easier now than before. Can buy and sell stocks without fees or commissions. Online trading.
Singapore property also is built for guaranteed capital appreciation.

 

[N4E.SI]

Ard $500k in MSFT (stock options) & $300k in other US stocks. Have some T-bills, fixed deposit etc should be $300-400k. Plus some cash savings for daily uses

Own property is HDB which I rent out for passive income

Stay with parents cos my celery is $5k+ only

 

[sellbuyboy]

As long as you are trying your best already, there is no need to bother about others.

Having knowledge will not help, change or improve your life if circumstances are different. Or if you don't aim to change anything.

Agree bro. Sometime I only think that if next month I can save till 5k should be enough. I quite contented. At least I am healthy

 

[sellbuyboy]

Ard $500k in MSFT (stock options) & $300k in other US stocks. Have some T-bills, fixed deposit etc should be $300-400k. Plus some cash savings for daily uses

Own property is HDB which I rent out for passive income

Stay with parents cos my celery is $5k+ only

Power. 2m net worth huh.

 

[sellbuyboy]

Quite normal… by 40s should at least have close to 500-700k excluding your own property.

To me v good already.

 

[cyke69sg]

Covered call etf Bo jiak one huh. How does it works

Sorry I forgot to add. Specifically Canadian covered call ETFs with modest 25% leverage.

US cc ETFs cannot compare. Other countries also don't have similar ETFs.

The distributions also treated different for tax. Mostly is Capital Gains and Return of capital. For Singaporeans this means the trading house returns all the withholding tax to you after the year ended declarations on tax from the fund.
I did some research on this with AI. But you can check yourself.

 

[cyke69sg]

Now bank and government many layers of policies scrutiny and prevent the younger generation from getting rich.

Everything also ask. Bank asking a lot withdraw cash why so much. My own money to explain to them. Transferring 200k in and out also ask. Need invoice, documents

Government policies tax and tax. U want to buy any properties, must pass the tdsr, absd. Buy commercial still ok

上岸 already. Got strong passive income and asset then really lucky now. Pity the young generation unless u president scholar or degree holder. Non degree holder very very hard. I can see from the situation

In SG just buy SG property and SG bankstocks.
Keep it simple.

 

[cyke69sg]

Agree bro. Sometime I only think that if next month I can save till 5k should be enough. I quite contented. At least I am healthy

That's a good way to think.
You are good enough for yourself.
Also remember. Most people end up never using up all the money they saved and grew when they die. In fact during latter years their net worth keeps increasing but too old and not spending much anymore.

Enjoy your time when you still can.

 

[itedino]

In SG just buy SG property and SG bankstocks.
Keep it simple.

It's not easy to buy with cash and approval loan from bank now

Now I can see everyone park their money in stock. Else sti wun get so high

 

[sellbuyboy]

Sorry I forgot to add. Specifically Canadian covered call ETFs with modest 25% leverage.

US cc ETFs cannot compare. Other countries also don't have similar ETFs.

The distributions also treated different for tax. Mostly is Capital Gains and Return of capital. For Singaporeans this means the trading house returns all the withholding tax to you after the year ended declarations on tax from the fund.
I did some research on this with AI. But you can check yourself.

Chim leh. U deserve this money, I cant

 

[cyke69sg]

It's not easy to buy with cashand approval loan from bank now

Isn't that how the purchase is structured for property?

Downpayment in cash +/- CPF
Then mortgage loan?

You mean must pay all cash?

I realized BSD can be significant. Especially landed bungalow property is mostly $10-$20m now.

 

[sellbuyboy]

That's a good way to think.
You are good enough for yourself.
Also remember. Most people end up never using up all the money they saved and grew when they die. In fact during latter years their net worth keeps increasing but too old and not spending much anymore.

Enjoy your time when you still can.

I ok one. But of cos I always curious why ppl think like that or like this

 

[cyke69sg]

Chim leh. U deserve this money, I cant

Can learn slowly.

I started slowly also.

Took me a while to get comfortable with the plan.

I tell my friend he also prefer to just put hands up and say he doesn't know. More like don't want to know. Prefer to own property and deal with tenants and repairs.

 

[kreja]

May I know those in 40s have minimum $500k savings? Common?

You mean cpf?

 

[oddeye82]

Savings in CPF can or not?

 

[cyke69sg]

I ok one. But of cos I always curious why ppl think like that or like this

You might want to read "Psychology of Money" by Morgan Housel. Or just ask AI give you summary.

Depends how people brought up. Experiences they had as kids and teens and young person's when it comes to money spending financial security crisis etc.

Hence everyone is different. Some are ok with taking more risk. Some are totally risk averse. Some prefer property investments. Brick and mortar businesses. Some are ok with stocks. Some are traders. Some just focus on their careers and save cash. Depends on financial knowledge and understanding also.