[Non-Sex Related] How much savings do you have in your bank account?

[retsmas]

Originally Posted by Bris7

I feel you, bro... I was once like you (when single), save at least 40% of my income. But then got married (which I regret) and have my own home (HDB). This 2 events nearly wipe out my saving.

Now with a basic of 6K, allowance for parents, 1 school going kid, a car (mass market model) and monthly household expense, saving is a pathetic 10% on a good month. No idea how the country expect us to have more children.

I hope I can be healthy and work till I suddenly drop dead (at home, at work or on the street). Then no need to burden my child.

I feel you, bro..... Typical life of a sg man. Sad but true. I am just like u, hate what i am doing but still hv to drag myself to work everyday. Always been dreaming of financial freedom. Hopefully it comes b4 i up the lorry. If not, let me board the lorry peacefully n painlessly pls.

[kukugun]

Originally Posted by ahpiao

Late thirties, Single , no money to marry

Gross annual income = $26,000
Annual income (after CPF) = $20,800

Saving in bank = $30,000k (Took me 13 years to save)
CPF = about $70K in OA

No car, no motorbike, no money to buy
No property, staying with sibling, waiting to buy 1 room 1 hall flat from government.

Seem like alot of bro much better than me

bro u not alone me n u same same

late 30s single

gross annual income 33k
after cpf 26.4k

saving in bank 25k
cpf nearly wipe out after getting 1room.1 hall from government

[cataramp]

Originally Posted by ahpiao

Late thirties, Single , no money to marry

Gross annual income = $26,000
Annual income (after CPF) = $20,800

Saving in bank = $30,000k (Took me 13 years to save)
CPF = about $70K in OA

No car, no motorbike, no money to buy
No property, staying with sibling, waiting to buy 1 room 1 hall flat from government.

Seem like alot of bro much better than me

Do you invest using your cpf monies?

I'm just curious if people actually invest their cpf monies or leave it to grow with gov.

[ahpiao]

Nope, my CPF too precious to take the risk.
My heart too weak to take any shock

Originally Posted by cataramp

Do you invest using your cpf monies?

I'm just curious if people actually invest their cpf monies or leave it to grow with gov.

[cataramp]

Originally Posted by ahpiao

Nope, my CPF too precious to take the risk.
My heart too weak to take any shock

Nothing wrong la. Cpf interest is high at 2/2.5% right?

Don't think any short term investment can have this guaranteed yield. Even insurance need minimum 10yrs to achieve 2-3%

[hhlover]

10yrs ago i got saving of maybe 10k..
10yrs later.. my best saving..
My wife n my two kids...
Money is not everything..
Family warmth then is everything...

[0541774]

Originally Posted by nachos84

wow bro... I cant imagine.. 28 year old 300-350k annual salary? amazing.. good for you man ..

no proof, anyhow write also can

[cataramp]

Originally Posted by nachos84

But I have no idea how the common man can retire in peace.. knowing that CPF and general saving are probably not enough for retirement. Need to either invest darn well or like what some insurance guys will say.. buy insurance ( but then that cost more money further )

If you reach retirement and cpf quite full, got those annuity plan which payout every month to spend i thought?

But honestly, leading a lifestyle now VS retirement. The question is, how many % are you willing to compromise?

It's never too early to plan for retirement.
I'm in my late 20s and i am slowly building up my retirement portfolio, with some blue chips and insurance, instead of being a burden to my children in future (if i get married).

[orangeproud]

[QUOTE=Bris7;14766901]Everyone achieve different results in life.
I knew a guy about 15 years ago. We both are not from rich familu.
He's a O level holder and a sales exec in a local company & I'm degree holder and a sales engineer in another.
Today, he is a GM in that company & I am a manager in mine.
He's staying in private, owns 3 cars and is a partner in 4 other business.
I am staying in HDB, 1 car and nothing else.

A lot in life depends on opportunity and hard work. But even if you are not as 'make-it' as your peers, don't take it too hard.[/QUOTE

Agree wif wat u say tat a lot in life depends on opportunity n hard work. And most importantly, opportunity only favours those ppl who usually gets ready or hv prepared mind. I like ur "but even if you are not as 'make-it' as your peers, don't take it too hard. Thank you for ur encouragement. Upz u!

[tecko]

no saving
1 car
5000 btc

[kjames]

Originally Posted by medicheng

38, married, no kids.

annual = $64k
saving in bank = $7k
no car
hdb just started paying 3years out of 30 = $310k

think i worse sia

Bro, me same same as you but I slightly younger n with a kid.

Cpf pay for home loan but projecting to to hit 100k per annum in 5 years

[nachos84]

Originally Posted by 0541774

no proof, anyhow write also can

you maybe right.. but no need to lie here ba.. dont think he will gain anything from it.. i have seen people ceo of own family business.. i think about 32 year old only? Annual income 550k... so.. no point doubting anyone here.

[nachos84]

Originally Posted by cataramp

If you reach retirement and cpf quite full, got those annuity plan which payout every month to spend i thought?

But honestly, leading a lifestyle now VS retirement. The question is, how many % are you willing to compromise?

It's never too early to plan for retirement.
I'm in my late 20s and i am slowly building up my retirement portfolio, with some blue chips and insurance, instead of being a burden to my children in future (if i get married).

I think the annuity only pays up to about 1.9k if you have the latest highest saving of about 241k. are you sure it would be enough when you retire moons down the road?

[Bris7]

Originally Posted by nachos84

I think the annuity only pays up to about 1.9k if you have the latest highest saving of about 241k. are you sure it would be enough when you retire moons down the road?

Of course when in retirement, must also reel-in on lifestyle.
If I am retired, no sickness and is still can live alone, daily spending of $20 should be sufficient. So in a month, should need $600. Another $200 for S&CC and electricity. Total $800. Factor in inflation and value of $ in 20/30 years time... maybe will be ard $1500.

Yes, life will be boring but can still survive.
So for now, IMO, the plan looks beneficial to me.

[Bris7]

Originally Posted by medicheng

38, married, no kids.

annual = $64k
saving in bank = $7k
no car
hdb just started paying 3years out of 30 = $310k

think i worse sia

Believe that like most of us, you should have done your calculation.

Reduce the principal amount on your housing loan ASAP. Annually, I would do a partial repayment (abt 10K~12K) on mine to reduce the principal amount cos the total interest is ridiculous over 30years.