Guess it started from LP's post, which was later shared by Kyith, which led to posts by BigFatPurse and TurtleInvestor.
Soooo I'll use LP's method of calculation of it. I'll exclude the CPF MA because you can't really access it. I do not have real time updates on my PSEA account and ILP total worth, so I'll use my last known value.
Do not be stressed or admire my balance I guess, I feel everyone has differing situations as I have (you may have your most lovely wife and flat, I never got to enjoy full time studies, etc).
So here goes:
Assets (~122k)
- Cash (cash for expenditure, warchest, future spend savings, emergency funds)
- CPF (OA+SA)
- Part time business
- Equities (both US and SG)
- Manulife ILP
- PSEA (soon to be in my CPF :D)
Liabilities ($219.34)
- Credit card bill
This makes up to 122k. I don't have any student debt as I worked full time while pursuing a part time degree, no housing commitment yet (I cannot imagine >__<)
But on a good note, I have reached my first 100k milestone (though I'll only consider it marked when my investing portfolio hits 100k). :)
So have you reached your own milestone? Where are you on your progress meter? :)
Hi Azrael,
ReplyDeletehaha, steady! I'm quite sure when I'm your age, I don't have that kind of networth! I'm sure you are way above your peers of your same age too :) Keep it up!
I got no loans nor heavy commitments. Everyone has their own wealth too :)
DeleteWhat makes you think people will admire 122k
DeleteHmm, I really hope not. I'm just posting as a record of my own status. Instead, one should be measuring himself based on what he wants to accomplish in life :)
Delete122k at 27 years old is impressive, I certainly admire it
DeleteIvan, thank you for your kind words :)
DeleteMine at my time .... meager sum of 10k in stocks ... that's my net worth :P
ReplyDeleteHi Cory, my equities portfolio also not that huge, less than 25% of that total sum. But everyone must start from somewhere :)
DeleteWah lan another crazy 27 year old.
ReplyDeleteEh Kyith, don't like that say leh ^^"
DeleteHi Azarael, it seems like you are already the artisan of your own fortune!
ReplyDeleteApologies, mis-typed your name/handle in my haste :(
DeleteKevin, it is alright. Thank you! :)
DeleteKeep it up!
ReplyDeleteThanks! Will do! :)
Delete"Do not be stressed or admire my balance I guess..."
ReplyDeleteUh.
Is this another of those epeen posts where people perform oneupmanship on one another?
I wrote this because I thought of measuring my own balances since a few fellow bloggers wrote it (as well as a fellow friend suggest to me).
DeleteI wrote that line as I do not wish for people to feel pressurized by what others have, it should be defined by their own gauge of success. Like I wrote above, I may have that amount but yet others may have something else that is worth much much more to them.
It was meant as a disclaimer of sorts, guess people read it negatively. ^^"
This blog is a record of my own journey to my goal, although maybe some information I posted here may prove useful to others in their own pursuits/goals. :)
Since, this is a post about networth, let me contribute my.
ReplyDeleteI am 34 years old currently.
Up till the age of 18, my networth had been less than 5k. This came from mainly saving up the pocket money that my mum had been giving me. In primary 1-2, I received 60cents per day. In primary 3, I received 80cents per day. In primary 4, I received $1.00 per day. In primary 5-6, I received $1.20 per day. This was increased to $2 in Sec 1-2, and $3 in Sec3-4. In JC, I received $20 per week.
During army times, my networth substantially increased. I was paid $240 as a recruit and private, $320 as a corporal. I was made to stay in, so I did not have much expenditures, except on weekends. After serving 2.5 years of NS, my networth increased from less than $5k to about $12k.
I entered University and told my parents that I would survive on my own. I took a bank loan of $13000 to pay for my University fees (interest free till the end of studies). My parents decided to subsidize the rest of my university fees (~$2000 per year).
I stopped receiving any pocket money. I lived on the $12k, spending only on food and transport. I had no gf at that time. I also didn't pay rent to my parents, nor give them allowances.
In my fourth year of University, I found a job which paid me $750/month so I had that part time job for 10 months. That job also offered to pay for my fourth year of University fees, so that reduced my bank loan to $8000.
At the end of my university, my networth was about $18000. With whatever I had, I repaid the bank loan in full, so my networth became $5000.
I got a job immediately upon graduation, and my starting pay was $2900. That was back in 2006. I got a girlfriend then, and we had to both share expenses whenever we went out.
Safe to say, my networth at the age of 27, was about $30000. In this aspect, I am far beneath you.
I worked my ass off as soon as I had started work, and was fortunate and blessed to get some substantial pay raises and promotion (sorry I can't reveal my pay now).
Unfortunately, things didn't work out with gf and then we had to breakup. I am now fortunate to have a gf but had to start paying for her share.
8 years of working life, together with VERY prudent saving, my networth is currently approximately (+/- 3% error) $820k.
I will continue to work hard. I don't own a car, and the only mortage I need to pay per month is about $3800 (sole payer).
I am also intending to hold my wedding within the next 6 months and forsee that my networth will be stalled for at least the coming year (it is VERY expensive to hold a wedding + other nonsensical stuff in Singapore).
After 2016, I hope that 2017 onwards will be a time of growth once again. However, it might not be fast we start having children. I've heard that it will eat more into your savings.
That said, it's time to invest in retirement planning.
Thanks for sharing!
DeleteYou post is inspiring! I believe those who read this blog would also benefit well from your life story with the lessons embedded in it :)
Life is not just about net worth, the special things in life that you love, I feel one should just spend (of course, not going into debt) to reward themselves or just being able to give something special to family. Yes, the item may not have huge monetary value but it is the memories and joy they receive that is worth much more. :)
Thank you again for sharing and wishing you a joyous life ahead! :)
Wow! Great networth there at that age! Kudos to you :)
ReplyDeleteThank you, but half locked in CPF ^^"
Delete