What is your net worth?

[Jazzbie]

But in my opinion, the typical Singaporean heartlander should omit HDB flat residence as part of the net worth, as your HDB flat residence is needed for staying long term, and is therefore an illiquid asset.

Like as earlier stated, net worth can be derived as total assets minus total liabilities. So fully paid hdb can be an asset. But just a figure for reference since it is not something you can monetise easily. If not, CPF have to be omitted too.

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[wondrdoggie]

Net worth is simply how much you get if you liquidate all your assets and pay off all your loans. So definitely include property at current valuation less outstanding mortgage. I would also include insurance policies that have a cash value. The only tricky portion is CPF. How to count money that is technically yours and yet cannot access? Plus how to account for value of forced annuity when you don't know how long you live?

 

[djchris]

Should be able to move from negative to positive net worth by end of this year.

I choose to omit the equity of the home I stay in but factor in the loan that comes with it.

 

[Jazzbie]

Net worth is simply how much you get if you liquidate all your assets and pay off all your loans. So definitely include property at current valuation less outstanding mortgage. I would also include insurance policies that have a cash value. The only tricky portion is CPF. How to count money that is technically yours and yet cannot access? Plus how to account for value of forced annuity when you don't know how long you live?

Perhaps can just include CPF OA since the funds can be used for property / investments.

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[mummy1234]

Perhaps can just include CPF OA since the funds can be used for property / investments.

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I take the whole CPF as I consider it my asset and my money.

 

[culture_counter]

......
I choose to omit the equity of the home I stay in but factor in the loan that comes with it.

Agree on this statement

 

[culture_counter]

I take the whole CPF as I consider it my asset and my money.

Also agree on this statement

 

[culture_counter]

Since everyone seems so shy to share their net worth, let me start the ball rolling. My definition is all assets minus all liabilities. About S$1 mil now. Was S$440k 10 years ago.

Does it mean that your housing asset is now worth about $550k ?

 

[mummy1234]

Does it mean that your housing asset is now worth about $550k ?

About S$1.4 mil between my hubby and me after minus mortgages.

 

[henrylbh]

Net worth should include all assets including properties and insurance etc and cpf for comparability.

 

[orange_sky]

Haven't posted here for a while. My assets is about 4m excluding properties but including cpf. To me it's just a number. I'm pretty sure there are plenty of members here that far exceed me (eg focus and doggie).

There are various standards of living. Just need to find one that suits your wealth and you should be fine.

 

[cybercom8]

Haven't posted here for a while. My assets is about 4m excluding properties but including cpf. To me it's just a number. I'm pretty sure there are plenty of members here that far exceed me (eg focus and doggie).

There are various standards of living. Just need to find one that suits your wealth and you should be fine.

wtf...banks just exclude 1 property and you exclude properties

can share if you are a salaried man or business owner?

 

[shareholder]

Networth is zero. You never really own the assets. You merely look after them for the next generation.

 

[WWH123]

As quoted in Patek Philippe advert

 

[mummy1234]

Haven't posted here for a while. My assets is about 4m excluding properties but including cpf. To me it's just a number. I'm pretty sure there are plenty of members here that far exceed me (eg focus and doggie).

There are various standards of living. Just need to find one that suits your wealth and you should be fine.

How about your liabilities? No mortgages?

 

[orange_sky]

How about your liabilities? No mortgages?

All paid up. But only two property la. One small hdb and one condo. Nothing fantastic

 

[limster]

All paid up. But only two property la. One small hdb and one condo. Nothing fantastic

According to HDB rules, you have to live in the HDB? With dividend income from $4m plus rental income from the condo, you probably got more passive income than ASSI. Reminds me of the book "millionaire next door."

 

[orange_sky]

According to HDB rules, you have to live in the HDB? With dividend income from $4m plus rental income from the condo, you probably got more passive income than ASSI. Reminds me of the book "millionaire next door."

There's no such rule. You just need to buy your hdb first and fulfil the minimum occupancy period before buying the pte property. You can then choose where to stay

 

[mummy1234]

All paid up. But only two property la. One small hdb and one condo. Nothing fantastic

Still very admirable...how did u manage to do it? Inheritance? Business? Can retire in Sg already, how lucky...

 

[limster]

There's no such rule. You just need to buy your hdb first and fulfil the minimum occupancy period before buying the pte property. You can then choose where to stay

Thanks for the explanation.