Savings in 40s

[sellbuyboy]

How come only have 5k savings? Even uni school student shld have more than that

cos i not even uni?

 

[sellbuyboy]

I have very little savings.
99% in my portfolio.

My FY2025 Portfolio Update

million dollar. this is what edmw is about! steady!

 

[sellbuyboy]

My parents, my sis, and me. Not retired-retired, more like having too free time on hand. I don't have any financial commitments (aside from insurance) or loan at the moment, and I save over 85% of what I receive per month. Cash-wise is on the lower side, but I have only been in this current arrangement for one year. I have 120k (UOB Stash) + 150k (UOB One) + 100k (SC Bonussaver) + some money in OCBC, looking to put some more money into VWRA when the time is right.

your monthly "dividend" how much huh.. got 10k?

 

[Lss]

My parents, my sis, and me. Not retired-retired, more like having too free time on hand. I don't have any financial commitments (aside from insurance) or loan at the moment, and I save over 85% of what I receive per month. Cash-wise is on the lower side, but I have only been in this current arrangement for one year. I have 120k (UOB Stash) + 150k (UOB One) + 100k (SC Bonussaver) + some money in OCBC, looking to put some more money into VWRA when the time is right.

If you no income or never pay CPF for too long government treat you as retired. Esp if you are not actively seeking job.

 

[sellbuyboy]

Recently many in >500k easily due to huat frm stk market.

I mean how not to?

all of the ppl into stk ? i dont have euff to invest.. that time i loaded then lose quite a lot.

 

[Lss]

cos i not even uni?

My kids have 5 digit in primary school because government give them money. But locked up in CPF, edusave and cda.

 

[LatentBlack]

all of the ppl into stk ? i dont have euff to invest.. that time i loaded then lose quite a lot.

Think of stock like endowment plan. For endowment plan, you break even after 4-6 years, with stocks you can expect to be in the green fully after 2-3 years. The way stocks go up is like a saw tooth pattern, you need 2-3 years before it finally clears your original buy price. If you managed to clear it in a shorter time even better of course. But always have a super long horizon, like Buffet said, the best to hold a stock forever.

 

[sellbuyboy]

Think of stock like endowment plan. For endowment plan, you break even after 4-6 years, with stocks you can expect to be in the green fully after 2-3 years. The way stocks go up is like a saw tooth pattern, you need 2-3 years before it finally clears your original buy price. If you managed to clear it in a shorter time even better of course. But always have a super long horizon, like Buffet said, the best to hold a stock forever.

so easy meh....

 

[LatentBlack]

so easy meh....

Yes, don’t waste money going for what stock course, just put the money directly into the market. Most important factor is time. The answer is already out, but because it is boring and slow, most people don’t follow it. Most people want to spend money to learn the “magic bullet” instead and end up making other people rich.

 

[castafarian]

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

just pure cash?

 

[Otaku007]

Most likely 500k wife amd husband 500k
Total 1mil
Very normal trend now

 

[LingTan98]

your monthly "dividend" how much huh.. got 10k?

From property rental? Around 260k per annum before expenses, actual will likely be closer to 200-220k.

If you no income or never pay CPF for too long government treat you as retired. Esp if you are not actively seeking job.

I do have a payroll and CPF contribution (not much) under my mum's company, which allows me to have salary credited to 2 different account for the higher interest rates.

 

[mooseolly]

500k is not little but still need to work harder to make more until can retire comfortably without stress.

 

[Lss]

Only single can have this amount.
Car takes 24k yearly away.
1 kids take another 20k yearly.
House another 24k yearly

I got 2 kids. That's 40k le

 

[Lss]

From property rental? Around 260k per annum before expenses, actual will likely be closer to 200-220k.

I do have a payroll and CPF contribution (not much) under my mum's company, which allows me to have salary credited to 2 different account for the higher interest rates.

What's the interest rate you are getting?

Recently just park spare cash in digital bank for 1.4% because don't meet many requirements.

Used to be able to play the salary crediting hack but the company I'm on stopped allowing crediting to more than 1 account. Best I could get was to change to OCBC to get 1 year free Disney plus subscription.

 

[jeffprobst]

mine was practically empty when i was jobless for a year. slowly rebuilding it. still haven recover doh.

 

[dezzo69]

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

my savings is my 750k$ hdb

but wait! PAP said hdb no longer financial asset for retirement nest egg right?

 

[archie7]

mine was practically empty when i was jobless for a year. slowly rebuilding it. still haven recover doh.

no property or investments?

 

[LingTan98]

What's the interest rate you are getting?

Recently just park spare cash in digital bank for 1.4% because don't meet many requirements.

Used to be able to play the salary crediting hack but the company I'm on stopped allowing crediting to more than 1 account. Best I could get was to change to OCBC to get 1 year free Disney plus subscription.

Around 2.77% EIR across 3 accounts.

 

[Lss]

Around 2.77% EIR across 3 accounts.

That's pretty good. Have spending requirements?