What is your net worth?

[JuniorLion]

Sorry to dig out this old thread.. first time posting here..

I am 39yo single male and only earning slightly less than 6k a month. currently struggling at my job and possibility of being laid off is quite high.. I would like to know where I stand in terms of net worth and if I really lose my job what would be the best option..

Cash + stocks 190k
Cpf SA+OA+MA 232k
Hdb 5 room flat worth 420k
hdb loan 90k
Insurance cash value 35k

If I can keep my job for another 2 years, my total net worth can hit 1mil although liquid net worth will be quite low.. (around 250k only). I'm trying to save up as much as I can while I still have a job.

Should I pAy off my loan now so I wont be too stressed if I lose my job?

If i cannot find another job, worse come to worse I can still survive (v v basic frugal lifestyle) by renting out the master room n a common room plus some dividends.

Another option is downgrade flat but not ideal coz rental yield is quite good.

Networth thread is always a place when big cannons like to gather; so I'd rather people don't ask "how am I doing in these threads?" But please feel free to do so

To answer your question:
Your HDB Loan is 90k, and your cash is 190k. You could pay your loan immediately and left with 100k in your hand, or you don't -- and let the OA slowly take care of the loan.

Are you currently servicing the loan using CPF or cash?

 

[Oldnerd79]

Networth thread is always a place when big cannons like to gather; so I'd rather people don't ask "how am I doing in these threads?" But please feel free to do so

To answer your question:
Your HDB Loan is 90k, and your cash is 190k. You could pay your loan immediately and left with 100k in your hand, or you don't -- and let the OA slowly take care of the loan.

Are you currently servicing the loan using CPF or cash?

currently partial cpf partial cash. If kena retrenched I will either lower monthly instalment n switch to full cpf or pay off one shot if I get a severance package.

 

[TabascoSauce]

Sorry to dig out this old thread.. first time posting here..

I am 39yo single male and only earning slightly less than 6k a month. currently struggling at my job and possibility of being laid off is quite high.. I would like to know where I stand in terms of net worth and if I really lose my job what would be the best option..

Cash + stocks 190k
Cpf SA+OA+MA 232k
Hdb 5 room flat worth 420k
hdb loan 90k
Insurance cash value 35k

If I can keep my job for another 2 years, my total net worth can hit 1mil although liquid net worth will be quite low.. (around 250k only). I'm trying to save up as much as I can while I still have a job.

Should I pAy off my loan now so I wont be too stressed if I lose my job?

If i cannot find another job, worse come to worse I can still survive (v v basic frugal lifestyle) by renting out the master room n a common room plus some dividends.

Another option is downgrade flat but not ideal coz rental yield is quite good.

wat's ur loan interest?
wat's ur interest on cash?
how much do u have in OA?

 

[born to die]

me bank inside about $100k, CPF $20k, no house. 9 cars about $1m. family networth about 100m

 

[JuniorLion]

currently partial cpf partial cash. If kena retrenched I will either lower monthly instalment n switch to full cpf or pay off one shot if I get a severance package.

Well, what I would do is this:
Out of 90k loan, I will use cash to pay off 60k. For the remaining 30k loan, then do an adjustment so that higher % is being serviced by cash, rather than CPF.
But that's just me -- I prefer lesser liability.

Any intention to get married?

 

[Oldnerd79]

Well, what I would do is this:
Out of 90k loan, I will use cash to pay off 60k. For the remaining 30k loan, then do an adjustment so that higher % is being serviced by cash, rather than CPF.
But that's just me -- I prefer lesser liability.

Any intention to get married?

Nope. Forever alone type.

 

[Oldnerd79]

wat's ur loan interest?
wat's ur interest on cash?
how much do u have in OA?

Hdb loan 2.6%
Out of 190k, 120k invested, portfolio currently yield 5% on average. Remaining in ocbc360 n small amounts in a few bank accounts.
Cpf OA only 6k plus, SA has hit FRS 171k

 

[rottingapple]

28y.o
savings 100k, all gonna dump in citibank maxigain as of now.
Cpf 100k

Parents house fully paid hdb, no liabilities

 

[TabascoSauce]

Hdb loan 2.6%
Out of 190k, 120k invested, portfolio currently yield 5% on average. Remaining in ocbc360 n small amounts in a few bank accounts.
Cpf OA only 6k plus, SA has hit FRS 171k

actually i dun see the need to rush to pay off ur loan.

i think it is more impt to keep some liquid cash given that u r at risk of being lay off and that at age 40, finding a new job would take some time and potentially with quite abit of pay cut.

in the event that u r laid off, u can slowly draw down ur CPF OA and cash to pay for ur hdb loan while renting out ur room to supplement ur income.

the key is to ensure u have sufficient liquid cash to tide u over period of joblessness.

 

[Oldnerd79]

actually i dun see the need to rush to pay off ur loan.

i think it is more impt to keep some liquid cash given that u r at risk of being lay off and that at age 40, finding a new job would take some time and potentially with quite abit of pay cut.

in the event that u r laid off, u can slowly draw down ur CPF OA and cash to pay for ur hdb loan while renting out ur room to supplement ur income.

the key is to ensure u have sufficient liquid cash to tide u over period of joblessness.

Thanks for ur advice. Most likely I will choose not to pay off. I guess the only pros of paying off the loan is just for the peace of mind. Having a loan to worry about might not be a bad thing since it will motivate me to look for a job. Outstanding loan amount is small so it wont really make a big difference in terms of interest paid.

 

[qhong61]

Nope. Forever alone type.

Single staying in 5rm?

 

[Oldnerd79]

Single staying in 5rm?

Yes, in case my parents come n stay w me next time. Also because it can generate rental income. 4 rm vs 5 rm not much price difference n I like the bigger space.

 

[sg_investor]

Yywin is 2mil networth right?

 

[starlight318]

Sorry to dig out this old thread.. first time posting here..

I am 39yo single male and only earning slightly less than 6k a month. currently struggling at my job and possibility of being laid off is quite high.. I would like to know where I stand in terms of net worth and if I really lose my job what would be the best option..

Cash + stocks 190k
Cpf SA+OA+MA 232k
Hdb 5 room flat worth 420k
hdb loan 90k
Insurance cash value 35k

If I can keep my job for another 2 years, my total net worth can hit 1mil although liquid net worth will be quite low.. (around 250k only). I'm trying to save up as much as I can while I still have a job.

Should I pAy off my loan now so I wont be too stressed if I lose my job?

If i cannot find another job, worse come to worse I can still survive (v v basic frugal lifestyle) by renting out the master room n a common room plus some dividends.

Another option is downgrade flat but not ideal coz rental yield is quite good.

Actually my situation is very similar to you.. around same age, single n own a 4-rm flat. Job not secure too, im keeping my monthly home loan instalment low but will clear off 10-15k per year or as and when I feel comfortable.. cash n cpf almost half half every month. That way I get to pay off the loan quickly but at the same time have the flexibility to withhold from paying down the 10/15k should my financial situation change..

 

[pcmdan]

Me 31

Joint-Own a 4room HDB HDB flat, fully paid off

CPF (exclude MA) = 90+k

Cash = $1k

Job? Thinking of quitting every single day....HATE THE JOB

izit very jia lat?

 

[starlight318]

Me 31

Joint-Own a 4room HDB HDB flat, fully paid off

CPF (exclude MA) = 90+k

Cash = $1k

Job? Thinking of quitting every single day....HATE THE JOB

izit very jia lat?

Dun bluff lei.. thought u mentioned in your post a few days ago that ur income.quite high.. cannot be only have 1k cash.

 

[culture_counter]

For the average post-55 Singaporean, do you agree that the following components constitute his/ her liquid nett worth?

Cash in FD and savings account
Surrender cash value of insurance policies
CPF OA and SA, after meeting FRS
Equity stocks values

But are the following excluded?
Only 1 HDB flat for residence purpose
CPF Life or CPF RA
CPF medisave


Please feel free to discuss.

 

[pcmdan]

Dun bluff lei.. thought u mentioned in your post a few days ago that ur income.quite high.. cannot be only have 1k cash.

Big spender...I am 月光族。

 

[Opps-gal]

A dumb question, why need to calculate net worth? Do you include spouse's net worth in too?

 

[OngHuatHuat]

I didn't know i was the thread starter until your question.

I started the thread 3 years back, after 3.2.2018, this thread will enter 4 th year.
Next really caculate, but should be less than 2 million sgd even though this 3 years I have worked hard and improved on my financial situation. Noble loss did give me a hit.

Yywin is 2mil networth right?

Yywin is 2mil networth right?