For the salaried men, by the age of 40, how much is your liquid cash?

[Kelpie]

Hi guys,

 

1. By the age of 40, most of us would have to get prepared for retirement fund as job prospect will be less stable and harder to find good job.

 

2. So wonder how much cash the average commoners like us would have accumulated by the age of 40. Of course, if you're highly paid and a high filer, this question will not apply to you .

 

Please vote and share your comments.

 

Thank you.

 

Regards,

Edited March 13, 2008 by Kelpie

[Familymanz]

simi is age of $40?

[Sfhuang]

< $50,000

 

Got car loan, HDB loan, insurance, family expenses and kids to feed. How to save for retirement?

Edited March 13, 2008 by Sfhuang

[Kelpie]

This part I could understand, living in SG is pay and pay.

 

Regards,

[Freestylers09]

i tell u in 15 years later ok?

 

but i feel at least muz have >$50k bah..

[Throttle2]

definitely >$300k

[Will_I_Am]

If less than 500K liquidity, dun even think of retirement.

With an annual 5% inflation for the next 10 yrs, this 500K is worth only 250K in 10 years time

 

 

Hi guys,

 

1. By the age of 40, most of us would have to get prepared for retirement fund as job prospect will be less stable and harder to find good job.

 

2. So wonder how much cash the average commoners like us would have accumulated by the age of 40. Of course, if you're highly paid and a high filer, this question will not apply to you .

 

Please vote and share your comments.

 

Thank you.

 

Regards,

[Gearoil]

Hi guys,

 

1. By the age of 40, most of us would have to get prepared for retirement fund as job prospect will be less stable and harder to find good job.

 

2. So wonder how much cash the average commoners like us would have accumulated by the age of 40. Of course, if you're highly paid and a high filer, this question will not apply to you .

 

Please vote and share your comments.

 

Thank you.

 

Regards,

 

Given a choice of whether I would keep my cash 'liquid' or have assets that return me liquid cash every month, I'll take the latter....if and whenever I really need that much liquid cash...I can always 'liquidate' but then I might drown in the amount of liquid that comes out from this!

[Porker]

Think I most probably accumulate $5 in the bank nia

[Gate_warper]

Hello Mazda_Mad...

 

First of all, inflation isn't as high as what you make it out to be.

 

Secondly if it is really 5%, it is 14 years.. not 10.

 

Thirdly, on the average, a man goes out to the workforce at age 24 assuming he is a graduate. That leaves 16 years of work to hit 40. If a person had started working 16 years ago, he would have had to save (assuming no or marginal interest/returns) $500,000 / 12 /16 = $2604.16 per month.

 

Frankly, unless he is a single man with no commitments and earning a higher than average income, I doubt that would be very possible. I am not saying that he shouldn't work to a good amount in savings, but I doubt it is very possible for the average person.

[Yeochris]

i got $100k liquid cash in stock now at the age of 28.... but now the value is Halfed!! paper loss currently 49%... all my heard earn $ stucked.. sigh

[Glyuen]

mine's worse... bought Citibank stock and Bank of America stock back then. lost almost 70% of value on citigroup. somemore USD drop so much against SGD, double loss. paper losses more than u. haiz

[Porker]

When did you buy it?

[Perrier]

Personally, I am working towards the following when I hit 40 in 7yrs time,

 

1/ Took a 5yr loan just this Feb, so car loan ends in 38 if I not ichy backside again.

2/ Housing loan left 10yrs, depending on CPF invesment options, may clear the loan in 5yrs time.

3/ Projected saving will be 20-25k per year for myself only, wife not included.

 

In summary, after draining all my CPF and most of my saving 4yrs back for housing and wedding, its really scary I left 10yrs to work for my retirement.

 

I don't earn alot by the way, its the daily saving that helps.

[Sotong_kia]

Don't be too bothered by 'paper losses'..

 

I also have citi shares.. recently, bought more since it is lower now..

 

Honestly, Sub-prime worries have always been there.. Now just kenna have to 'write off'.. you think those ppl really not paying up ?

 

US$ vs S$ ? Well, do not convert back and you will not suffer the exchange loss... When you go for USA trip, draw out the US$ and use in US..

 

Or buy things online with US$..

[UncleWolve]

How come this topic is Non-stop one.... u all not happy with pay ah? change job lah

[Porker]

Those ppl are really not paying up because they can't afford to!

 

I hope you're not trying to comfort yourself by thinking that its not that bad.

[Kelpie]

Thirdly, on the average, a man goes out to the workforce at age 24 assuming he is a graduate. That leaves 16 years of work to hit 40. If a person had started working 16 years ago, he would have had to save (assuming no or marginal interest/returns) $500,000 / 12 /16 = $2604.16 per month.

 

Frankly, unless he is a single man with no commitments and earning a higher than average income, I doubt that would be very possible. I am not saying that he shouldn't work to a good amount in savings, but I doubt it is very possible for the average person.

 

16 years of work, so must be earning at least more than $5000 monthly since age 24 to 40. And based on of the vote result, more are into the >$300,000 bracket....so many commoners earn at least $5000 monthly and with spare cash to save more than >$300,000 over 16 years. MCF people here very rich.

 

Regards,