What is your net worth?

[Perisher]

Yep. And not just borderline 9 digits. There are a lot of very wealthy people in SG. Just drive around districts 9 & 10 or sentosa cove (the houses, not the condos), each of them 20-30m and that is just for self-stay. It's a very different world and reality.

Been to some of those... some of the house feels more like museum.

 

[orange_sky]

Curious. Do you still work? Or living off investment income? I am the later but still learning how to do it better.

Still a salaried man. Like I said before and like you mentioned above , it's no big deal

 

[satayxp]

not sure whats my net worth..but i have $300K in cpf and $100K in SRS..an investment condo just fully paid up..cash near to zero

别人笑我太疯癫，我笑他人看不穿

eh?
why pay up ppty loan when interest rate is still so low??

 

[limster]

eh?
why pay up ppty loan when interest rate is still so low??

Better to pay back the loan than to let the cash sit around in bank account. When STI was above 3,000, i found Singapore shares to be too expensive, so I paid back my housing loan instead. (I took loan which allowed partial prepayment/ no lock in).

 

[arctician]

eh?
why pay up ppty loan when interest rate is still so low??

Mine was fixed based on board rate..first year very low at 1.2%, but 2nd year rise to 2.3%, so paid it off if there is no arbitrage vs high yield deposit acct

Having said that sg really is land of rich, anything below $5m is not worth mentioning. I have not hit this amt and i will never hit this amt..so no big deal. For those who have achieved e magical no, good for you

 

[satayxp]

Mine was fixed based on board rate..first year very low at 1.2%, but 2nd year rise to 2.3%, so paid it off if there is no arbitrage vs high yield deposit acct

lidat no early redemption penalty meh?
cannot refinance ah?

 

[arctician]

lidat no early redemption penalty meh?
cannot refinance ah?

Refinance at end of 2nd year..so u have to pay 2.3% for a year which i am not keen on

Got redemption penalty but no partial prepayment penalty..so just pay it down to balance of few K

 

[cybercom8]

Refinance at end of 2nd year..so u have to pay 2.3% for a year which i am not keen on

Got redemption penalty but no partial prepayment penalty..so just pay it down to balance of few K

wah your loan package 2nd year interest rate already so high which bank is that?

i see many banks offering 1%-1.27% for 1st 3 years now

 

[arctician]

wah your loan package 2nd year interest rate already so high which bank is that?

i see many banks offering 1%-1.27% for 1st 3 years now

Cimb..its fixed rate so its usually higher than floating and i refinanced when 3m sibor was near peak

Now i think banks are giving 1.5-1.6% on average..dont think u can find 1.2% unless thats the spread plus 3m sibor

 

[henrylbh]

Cimb..its fixed rate so its usually higher than floating and i refinanced when 3m sibor was near peak

Now i think banks are giving 1.5-1.6% on average..dont think u can find 1.2% unless thats the spread plus 3m sibor

I wanted to reprice sometimes in Apr when rates appeared to be rising. CIMB offered 2.05% fixed for 3 years with lock-in and $200 admin fee. The thereafter spread of 1.5% was unattractive.

Luckily I decided not to reprice as I wanted the spread to be lowered from 0.85% to 0.75% as I wanted to stick to the current floating rate based on sor.

 

[cybercom8]

Cimb..its fixed rate so its usually higher than floating and i refinanced when 3m sibor was near peak

Now i think banks are giving 1.5-1.6% on average..dont think u can find 1.2% unless thats the spread plus 3m sibor

a few banks quoted 1 mth sibor +0.5%-.65% end up about 1.12-1.27% nia for first year.

average for 1st 3 years based on current 1mth sibor is about 1.29% per year.

those using fhr rate more hiong - 1st year 1% but 2nd and 3rd year 1.4% so average out quite close to sibor packages

 

[arctician]

I wanted to reprice sometimes in Apr when rates appeared to be rising. CIMB offered 2.05% fixed for 3 years with lock-in and $200 admin fee. The thereafter spread of 1.5% was unattractive.

Luckily I decided not to reprice as I wanted the spread to be lowered from 0.85% to 0.75% as I wanted to stick to the current floating rate based on sor.

I think cimb happy sunday fixed package is e most competitive,funny thing is they are fast in raising rate when sibor trend up (mine was adjusted up twice in a year as its pegged to board rate) but slow in adjusting down. Admin fees can be waived also..repriced twice nvr been charged

 

[arctician]

a few banks quoted 1 mth sibor +0.5%-.65% end up about 1.12-1.27% nia for first year.

average for 1st 3 years based on current 1mth sibor is about 1.29% per year.

those using fhr rate more hiong - 1st year 1% but 2nd and 3rd year 1.4% so average out quite close to sibor packages

If thats true really gd for home buyers..no wonder recently volume rebounded. I will take the 3y fhr, 1.3% fixed is damn good deal

 

[dolph001]

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."

ASSI has condos...
He only share his passive from stocks.

 

[Genosis]

ASSI has condos...
He only share his passive from stocks.

He really set a high benchmark.....

 

[focus1974]

Having said that sg really is land of rich, anything below $5m is not worth mentioning. I have not hit this amt and i will never hit this amt..so no big deal. For those who have achieved e magical no, good for you

True..

In Singapore, anything below $15mil is cannot live luxury lifestyle.

Consider peasant millionaire.
草根阶级.
Coz you dont feel rich at all. You just feel Normal...

Maybe if you go to Malaysia with $usd5mil .. wah... feel so shiok..
can say.. you see that row of horizon hills... I own that...

but australia.. still not bad.. go suburb ... $400k landed.. see that row.. i own it all..

In Singapore, your one semi-D landed is $4mil. See that row of houses... i own that semi-d... oh.... sian.z....

 

[marvel.avengers.ultron]

My networth currently:
Age: late 20s
40k in equities. 12k in bonds.
5k in cash. 10k in tuition debt.

Sent from from space using GAGT

 

[Shiny Things]

but australia.. still not bad.. go suburb ... $400k landed.. see that row.. i own it all..

I'm gonna disagree with this (even though the rest of your post is right). You're not gonna get a $400k house anywhere in Australia that's worth living.

In Liverpool, an hour by train from the Sydney CBD, a two-bedroom detached house is going to run you $600k-$800k AUD. Melbourne's marginally better - you can get a place in Werribee, also an hour by train from Melbourne CBD, for $380k-$400k, but Werribee is... not very nice.

Adelaide is nothing but churches and serial killers, you don't wanna live there; Brisbane is nothing but boiler-room scams and drunk schoolies, you don't wanna live there either. Perth is lovely but it's too far from everywhere; if you want to live in a beautiful city that's ridiculously isolated you'd rather move to Maui and buy a place on the beach in Pa'ia.

Even in Albury, the nearest big town to where I grew up, you're still looking at over half a million AUD for a decent 2-bedder house. And that's in a town with above-average unemployment, no nightlife, and it's a solid four hours' drive from Melbourne. The days of cheap houses in Australia are OVER.

 

[Maeda_Toshiie]

I'm gonna disagree with this (even though the rest of your post is right). You're not gonna get a $400k house anywhere in Australia that's worth living.

In Liverpool, an hour by train from the Sydney CBD, a two-bedroom detached house is going to run you $600k-$800k AUD. Melbourne's marginally better - you can get a place in Werribee, also an hour by train from Melbourne CBD, for $380k-$400k, but Werribee is... not very nice.

Adelaide is nothing but churches and serial killers, you don't wanna live there; Brisbane is nothing but boiler-room scams and drunk schoolies, you don't wanna live there either. Perth is lovely but it's too far from everywhere; if you want to live in a beautiful city that's ridiculously isolated you'd rather move to Maui and buy a place on the beach in Pa'ia.

Even in Albury, the nearest big town to where I grew up, you're still looking at over half a million AUD for a decent 2-bedder house. And that's in a town with above-average unemployment, no nightlife, and it's a solid four hours' drive from Melbourne. The days of cheap houses in Australia are OVER.

Perth is essentially a mining town

I think I have an ex classmate living in Darwin now. It's fine if you like the small town life

Melbourne housing are climbing towards Sydney prices (straight from Melbourne denizens). Blame the PRCs

 

[Oldnerd79]

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.