Savings in 40s

[oddeye82]

All my money are locked in CPF, SRS investments, SRS and bank investments. Cold hard cash, not much.

 

[itedino]

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.

First property of course easy. When u getting 3rd property onwards, tough already. I am planning for 4th property. Based on my own capability and effort.

 

[Hello_Kitty]

i have 500000 calorie of body fat when i am in my 40s

 

[cyke69sg]

First property of course easy. When u getting 3rd property onwards, tough already. I am planning for 4th property. Based on my own capability and effort.

In Singapore building a property portfolio is the way to go. Singapore property is the bedrock of Singapore wealth.

 

[Heriophant]

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

Can leetire in Hua hin Liao

 

[Spike]

Can leetire in Hua hin Liao

You just need to work hard for 10 more years, young man.

 

[itedino]

In Singapore building a property portfolio is the way to go. Singapore property is the bedrock of Singapore wealth.

Do my best

See u guys at goldhill cai png

 

[cyke69sg]

Do my best

If you own 3 properties in SG you are already in the upper echelons of wealth level
Good enough to me!

 

[Wu-Han Clan]

if stay pvt and work salaried job... unlike to hv 500k savings... if hv more likely they alrdy pump into the house liaoo... ppty is still the safer investment for long term... later can downsize cash out stay in hdb..

 

[sellbuyboy]

All sg property huh

First property of course easy. When u getting 3rd property onwards, tough already. I am planning for 4th property. Based on my own capability and effort.

 

[sellbuyboy]

if stay pvt and work salaried job... unlike to hv 500k savings... if hv more likely they alrdy pump into the house liaoo... ppty is still the safer investment for long term... later can downsize cash out stay in hdb..

Pvt property safer huh. Agree

 

[PikaManiac]

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

Don't have.

But got fully paid resale and CPF hit frs can?

 

[sellbuyboy]

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.

Thanks thanks...

 

[FlyGuardX]

to be honest, the next gen to have $500k is almost impossible especially they couple needs to pay housing bto loans and raise kids.

Next Gen is about inheriting millions from parents

 

[I_m_limpeh]

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

$500k cash savings is the average in EDMW.

 

[thenewguy]

yes if no kids my wife and myself only i think easily can hit 500k cash

 

[3G SAINT]

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

If dnt have mean what

 

[3G SAINT]

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

Even got degree must get better grade if not hard to get job nowadays

Are you degree holder?
You born in year 70s?

 

[MoeLanYong]

No $500k. When I was 40, I just had my 4th child. Have a wife, a car and a home. Maybe $10k+ in my bank. But brimming with life, hope and happiness in building a family.

Common? I rem always being too busy with either work and the kids to actually bother what others have. Just doing my own life. Maybe i loser. User name applies

 

[cyke69sg]

No $500k. When I was 40, I just had my 4th child. Have a wife, a car and a home. Maybe $10k+ in my bank. But brimming with life, hope and happiness in building a family.

Common? I rem always being too busy with either work and the kids to actually bother what others have. Just doing my own life. Maybe i loser. User name applies

Your wife beat everyone here.