What is your net worth?

[Majestic12]

Networth should include CPF because despite what the opposition says, it is still your asset albeit with some restrictions.

I think you have to benchmark networth against age group as well.

 

[highsulphur]

Tax liability is a pain

 

[Dyhalt]

99.9% of the population feels uncomfortable disclosing their networth to others, even to close family members.

Theres is no point in comparing yourself with others, but you should compare you with yourself a year ago. Ideally your networth should increase every single year with the right strategy.

cheers

 

[wahkao3]

lai lai
let me save this thread

 

[Perisher]

Those numbers include properties they live in or not?

 

[henrylbh]

that is an extreme example.

if you dont plan to have another cheaper property as your primary residence and if you can monetise the bungalow or take up a loan against it, think the banks should consider a portion of it as net worth else its something they or you cannot touch.

to the banks, your $20M fully paid bungalow dont mean anything since they cant sell you anything

Not extreme as my spouse's relative had a property worth 30m but cash poor and hardly able to spare some cash to touch up the house which is very old. Nevertheless, the bank was willing to lend her 2m to distribute to her children. She got no means of paying the loan and the amount ballooned to nearly 5m.

 

[henrylbh]

Haha maybe TS should start the ball by telling us his net worth

by right net worth should include HDB, car, study loan...

Net worth = Total Asset - Total Liabilities.

But in Singapore, quite special case since we use cpf to pay our housing. unless we exclude the whole cpf part.

Guess it may be right to include all assets that can be quantify, like property, car, money in CPF etc less all liabilities. That place everyone on the same level of calculating net worth and it's up third party to his own discount factor to decide what you are worth.

 

[focus1974]

Not extreme as my spouse's relative had a property worth 30m but cash poor and hardly able to spare some cash to touch up the house which is very old. Nevertheless, the bank was willing to lend her 2m to distribute to her children. She got no means of paying the loan and the amount ballooned to nearly 5m.

WTF....
uh... this one a little extreme loh...
Nobody told her she should just sell the house and buy a $20mil house ah?

 

[focus1974]

lai lai
let me save this thread

I think our forum got a few who should be worth more than the combined networth of those guys..
but they never reveal only

 

[cybercom8]

Not extreme as my spouse's relative had a property worth 30m but cash poor and hardly able to spare some cash to touch up the house which is very old. Nevertheless, the bank was willing to lend her 2m to distribute to her children. She got no means of paying the loan and the amount ballooned to nearly 5m.

means must force sell if cannot service the loan?

 

[starfish.starfish]

I thought net worth is whatever ppl can take from you if you owe them money

 

[highsulphur]

I think our forum got a few who should be worth more than the combined networth of those guys..
but they never reveal only

Irc, that's only the cash savings of those individuals.

 

[henrylbh]

WTF....
uh... this one a little extreme loh...
Nobody told her she should just sell the house and buy a $20mil house ah?

Can tell her anything and however good the reasons, she wanted to live in that house till her last day.

 

[wondrdoggie]

Can tell her anything and however good the reasons, she wanted to live in that house till her last day.

She can take a mortgage out of the house? That way, she gets cash and stay at the house too. However, got to find a bank willing to do that since technically she has no income.

 

[limster]

Ok change thread title to "What is your relative's net worth?" and start new thread "How do I get my name added to my relative's will?"

 

[henrylbh]

She can take a mortgage out of the house? That way, she gets cash and stay at the house too. However, got to find a bank willing to do that since technically she has no income.

Already said that she took 2m loan from the bank.

 

[henrylbh]

Ok change thread title to "What is your relative's net worth?" and start new thread "How do I get my name added to my relative's will?"

Might as well say what's your father's net worth as that would likely to become yours.

 

[Perisher]

Why didn't see DW networth in that pie chart? He has displayed his investment amount before, Can CSI from his blogs too but now taken down le. He is worth at least $250k(from his investment amount last time only), probably much much more.

 

[highsulphur]

Instead of sharing net worth, I'll share my target networth by 55. Hope to hit 6m by 55. 1.5m as educational finds for 3 kids and the balance to generate passive income of about 10-12k/month (assuming 3% returns).

 

[cybercom8]

I think our forum got a few who should be worth more than the combined networth of those guys..
but they never reveal only

You lor