household income

[autumnbronze]

tankee:

that or parents are rich or spent on credits.

or even (early) inheritance

[corneyAmber]

autumnbronze:

or even (early) inheritance

Don't forget the enbloc wealth!

[skunk]

Our perception of what the median income is, is coloured by our job, peers, education, neighbours and even our own parents.


I worked in a welfare organisation, so it seemed to me many are poor.

If i talk to a banker, he/she will say that so many are rich.

We simply have to trust the statistics, or else there is no basis for any sort of meaningful discussion.

[MMM]

Yes it's true... We were looking at friends and colleagues around us. A annual income of at least $100K & above per person seems very common. So it's hard to believe that those who earn $10k per person is considered as \"minority\" or they are potentially classified as \"high income earner\". :?


Personally, I think this is driven by the perception that the lifestyle of people who belong to this income bracket is not very different from the man on the street. It's like it's common as compared to 10 yrs ago for people to stay in private housing. Eg. 72% stay in HDB? The figure was much higher. Also, even the average family goes for overseas hols nowadays and not to Msia only ok. Maybe this is made possible by affordable air travels???

So it's quite difficult to relate to the statistics.

[autumnbronze]

ks2me:

Don't forget the enbloc wealth!

Ya hor ks2me,

My SIL's frd bought a pte apt with DH b4 formal wedding ceremony and they made a bomb when sold aft completion

[kaitlynangelica]

So whats considered a decent amount of liquid cash savings for a couple in their mid to late 30’s with 2 kids and a car?


Is $150 K considered decent?

[Blobbi]

skunk:

Our perception of what the median income is, is coloured by our job, peers, education, neighbours and even our own parents.


I worked in a welfare organisation, so it seemed to me many are poor.

If i talk to a banker, he/she will say that so many are rich.

We simply have to trust the statistics, or else there is no basis for any sort of meaningful discussion.

So true.

[skunk]

kaitlynangelica:

So whats considered a decent amount of liquid cash savings for a couple in their mid to late 30's with 2 kids and a car?


Is $150 K considered decent?

LOL even the way u phrase the question reeks of your financial background lol

Someone with a very \"unsteady\" lifestyle will need more, someone with a very stable lifestyle will need less. I think $50K is generally enough.

$150K means they have not optimised the returns from their money. Money is meant to be spent, not sit in the bank

[skunk]

lovekidsverymuch:

I think its a lot :!:

she's implying she has $150K....and she asked this question to seek reaffirmation that she has been saving enough hehe

kiddin :lol:

[Blobbi]

kaitlynangelica:

So whats considered a decent amount of liquid cash savings for a couple in their mid to late 30's with 2 kids and a car?


Is $150 K considered decent?

Thinking out loud, several ways to look at this.
1. Liquid cash as a percentage of overall wealth. In Singapore, a lot of our wealth is tied up in our homes cos of high ownership levels. Have to figure out what the average cos of a home is. Again, we may have to stratify - public housing versus private housing. So ok, let's look at the average HDB flat dweller - what's the cost of the average flat? I'm thinking $500k? Say net of loans, the flat has a paid up value of $300k. With say another $100k in stocks, the $150k is about 27% of total wealth. I guess that is decent; conservative even.

2. Liquid cash as a percentage of future needs. Calculating on that basis, and with an annual expenditure (say $7k every month (including mortgage, car loan), plus holidays, say $10k per year) averaging $94k a year, $150k liquid cash will mean that the family can last 1.6yrs if parents are out of work. Can adjust what suits the risk appetite.

The short answer seems to be $150k is quite a decent amount. :lol: